യൂണിയ African Union is India’s fourth largest trading partner.
Johannesburg: The African Union is India’s fourth largest trading partner. America is the biggest. China is second and the UAE is third. SBI CEO Shyam Prasad said the African Union accounts for 8.52 per cent of India’s total trade.
In 2019-20, India and the African Union traded $ 6.853 billion. India has a trade deficit with Africa. The trade deficit in 2019-20 was $ 910 billion. Mozambique and Egypt are the only surplus African countries for India.
To Africa
India mainly exports to Africa its textiles, petroleum products, pharmaceuticals, chemicals and manufactured (manufactured) products.
Petroleum products account for 20% of exports to Africa – the main markets in this range are Mozambique, Togo, Tanzania, Kenya and South Africa.
Chemicals are second (18.5%) – Major markets: Nigeria, Egypt and Kenya.
To India
India mainly buys crude oil, precious stones, metals, vegetables and minerals from Africa.
Nigeria has the largest trading share (20.91%)
Crude oil accounts for 61% of total imports from Africa – the main sources being Nigeria, Angola and Algeria.