India’s Exports to Latin American Countries – India Export Data 2019

13 August 2020

India’s exports to Latin America valued USD 13,665 million in 2019, which was the highest in the last 5 years. Earlier in 2014, the value of total goods exported from India the Latin American countries recorded USD 15,463 million. According to India export data, Brazil stood as the largest export destination of Indian goods in Latin America during 2019. Checkout India’s exports to Latin American countries from India export statistics 2019.

India’s Exports to Latin America in Last 10 Years

India customs data shows that the value of goods shipped by India to Latin America increased from 2010 to 2014, while the dollar amount declined in 2015 and 2016. From 2017, India started recording an increase in the value of shipments which departed from the country to Latin American countries. Below given chart and table shows dollar amount of India exports to Latin America in last ten years.

India’s Top 10 Exports to Latin America

India shipped vehicles the most to Latin American countries in 2019, India shipment data shows. Total vehicle goods worth USD 3,267 million were exported to importers in Latin America. Other major export commodities exported by India to Latin America in 2019 were organic chemicals, miscellaneous chemical products, pharma products and mineral fuels & oils. Check the list of India’s top 10 exports to Latin America with their dollar amount recorded in 2019.

India’s Car Exports to Latin America

Latin America accounted for 28% of India’s global car exports of USD 6.7 billion in 2019. Mexico was the second largest global market for Indian cars after the United States. Other major destinations of Indian cars in Latin America were Chile (USD 178 million), Peru (USD 139 million), Paraguay (USD 44 million), Bolivia (USD 42 million), Colombia (USD 37 million) and Guatemala (USD 31 million).

India’s Motorcycle Exports to Latin America

India was the second largest supplier of motorcycles to Latin America with USD 458 million in 2019. That dollar amount accounted for 22% of India’s global exports of USD 2.1 billion. Major export destinations of India’s motorcycles in Latin America were Colombia (USD 228 million), Mexico (USD 69 million), Guatemala (USD 54 million) and Peru (USD 20 million).

India’s Pharmaceutical Exports to Latin America

India is the 5^th largest supplier of pharmaceuticals to Latin America. Major Latin American destinations of India’s pharma exports in 2019 were Brazil (USD 297 million), Chile (USD 93 million), Peru (USD 69 million), Colombia (USD 65 million), Mexico (USD 64 million), Venezuela (USD 39 million), Dominican Republic (USD 39 million) and Ecuador (USD 30 million).

India’s Major Export Destinations in Latin America

Brazil claimed position as the #1 destination of India’s exports to the Latin America in 2019. According to India trade statistics, India shipped goods worth USD 3,970 million to Brazil in the said year. Other major export destinations of Indian goods were Mexico, Colombia, Chile and Peru. Below given chart and table shows dollar amount of these countries recorded last year.

Indian Manufacturing Companies in Latin America

According to media reports, India’s UPL has an annual turnover of 1.3 billion dollars with its plants making agrochemicals and development of new seed varieties in Brazil, Argentina and Colombia. UPL, the largest Indian agrochemical firm, has a larger business turnover in Brazil (1.2 billion dollars) than its business in India.

Aditya Birla’s group company Novellis has Aluminium and carbon black plants in Brazil with an annual turnover of 2 billion dollars. Mothersons Group, the autoparts major with a worldwide revenue of 11 billion dollars has over a dozen plants in Mexico and Brazil generating 9.2% of its global revenue, which amounted to about a billion dollars. There are a number of other Indian companies operating in the region in pharma, energy, tyres and other industries. The annual revenue of the Indian manufacturing companies in Latin America might be around 4 billion dollars. 

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At this time of coronavirus crisis, Latin Americans look for affordable commodities from less expensive sources. Although China fits this expectation, the Latin American countries seek to reduce their overdependence on China with which there is growing trust deficit especially after the Covid-19 pandemic, which originated in China’s Wuhan city. Now their focus is to boost their bilateral trade with India.