WTO Report ranked India Tenth in Export of Services Worldwide

According to a latest World Trade organisation (WTO) report India achieved tenth rank in export of services worldwide and emerged as the 20th biggest merchandise exporter in 2010. India stood 12th and 22nd position globally in services and goods exports, respectively in 2009. In value terms India exported services and merchandise worth $110 billion and $216 billion, respectively in 2010. India's goods exports went up by 31 per cent in 2010, helping the country to expand its market share to 1.4 per cent from 1.2 per cent in 2009.

Engineering and petroleum exports contribute about 40% of India’s total exports.

The increase in export was attributed to increasing demand for Indian goods in new markets like Latin America and Africa. According to apex exporters body Federation of Indian Export Organisations (FIEO), the diversification of India's exports basket also helped in increasing the shipments.

India's services exports share in the world exports increased to 3 per cent in 2010 from 2.6 per cent in 2009.

The report ranked China first in terms of merchandise exports followed by the U.S. and Germany. In services export, the U.S. is on the top slot followed by Germany and the U.K.