Neither China nor the US have been able to match the pace that India’s economy has achieved in the last five years. What is special is that there is no country in the world that can even come close to India in terms of growth. It is also said that in the next few years India will become the third largest economy in the world, leaving Japan and Germany behind, and that India’s GDP will exceed $5 trillion. Moreover, by 2047, India will be among the developed countries.
On the other hand, India is about seven times behind China in terms of exports. Yes, the G-20 countries that were hosted by India just last year. Among them, India’s position in terms of exports is very bad. On the other hand, China is ranked first. While the US is ranked second. Even many countries, which are far behind the Indian economy, seem to be far ahead in this matter.
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There are currently 19 countries included in the G-20. Apart from India, these include China, Germany, the United Kingdom, France, Italy, Turkey, the United States, Australia, Brazil, Indonesia, Russia, South Korea, Saudi Arabia, South Africa, Mexico, Canada, Japan and Argentina.
The G-20 is a platform that focuses on issues related to the global economy. This platform was established in 1999 after the Asian financial crisis. Apart from business, this platform focuses on issues such as growth, health, agriculture, energy, environment, climate change and anti-corruption. The top two export markets of these countries include China and the United States, with seven each. Let us also tell you who is the top exporter in the G-20 and where India stands.
All G20 economies are major export markets
🇦🇺 Australia -> 🇨🇳 China 🇧🇷 Brazil -> 🇨🇳 China 🇮🇩 Indonesia -> 🇨🇳 China 🇷🇺 Russia -> 🇨🇳 China 🇰🇷 South Korea -> 🇨🇳 China 🇸🇦 Saudi Arabia -> 🇨🇳China 🇿🇦 South Africa -> 🇨🇳 China 🇲🇽 Mexico -> 🇺🇸 USA 🇨🇦 Canada -> 🇺🇸 USA 🇯🇵 Japan -> 🇺🇸 USA 🇮🇳
— World of Statistics (@stats_feed) September 4, 2024
largest export market
According to the report of the Observatory of Economic Complexity, China occupies the first position on this list. Australia, Brazil, Indonesia, Russia, South Korea, Saudi Arabia and South Africa are the countries that export the most to China. After that the name is America. The largest export markets for the world’s largest economy are Mexico, Canada, Japan, India, China, Germany and the United Kingdom. On the contrary, Germany occupies the third position. France, Italy and Turkey are the countries that export the most here. On the other hand, the United States exports the most goods to Canada. Consequently, the largest export market for Argentina is Brazil.
China ranks first
In terms of exports, China seems to be in the first position. While the United States is in the second position. While Germany is in the third place. According to the list for the year 2023, it includes the Netherlands, Japan, Italy, France, South Korea, Mexico, Hong Kong, Canada, Belgium, the United Kingdom, the United Arab Emirates, Singapore, and Taiwan. After that, India’s number is visible. The special thing is that China exported $3,380.02 billion last year, while India’s export figure was $432.34 billion. This means that last year India was eight times behind China in this matter.
