In 2022, India's Oil Demand Is Expected To Increase By 8%

 As the economy recovers from the pandemic's damage, India's oil demand is expected to rise 8.2 percent to 5.15 million barrels per day in 2022.

In its most recent monthly oil market report, the Organization of Petroleum Exporting Countries (OPEC) predicted that the world's third-largest energy consumer will increase crude oil consumption by 0.39 million barrels per day (BPD) in 2022.

India's oil demand increased by 5.61 percent from 4.51 million barrels per day in 2020 to 4.76 million BPD in 2021. However, this was still lower than pre-pandemic levels.

Oil demand was 4.98 million barrels per day in 2018, rising to 4.99 million barrels per day the next year before the epidemic.

According to the OPEC report and India import-export statistics, oil consumption is likely to revive with expected robust economic growth of 7.2 percent in 2022 and expected swift containment of Omicron in the near future. As India's average driving activity grew, mobility continued to improve.

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Oil consumption has risen this year after govt removed Covid-19 restrictions

According to India customs export statistics, gasoline (petrol) and diesel are predicted to be particularly favored by the expected growth in GDP and the already improving mobility, hence propelling activity.

Similarly, the industrial sector will support diesel, LPG, and naphtha demand, in keeping with a prediction for a strong economy in 2022.

Because of travel issues, particularly business-related travel, demand for jet kerosene is likely to be slower in 2022, according to the report.

Nonetheless, in 2022, India is expected to expand by 0.4 million BPD year on year. OPEC's forecast for gasoline demand increase is in line with government projections.

India's gasoline demand is expected to rise 5.5 percent in the fiscal year beginning April 1, according to the petroleum ministry's Petroleum Planning and Analysis Cell (PPAC).

From 203.2 million tonnes of planned sales in the current fiscal year ending March 2022, fuel consumption is expected to climb to 214.5 million tonnes (4. 3 million BPD) in 2022-23.

The OPEC prediction is for crude oil demand, but the PPAC forecast is for fuel consumption.

Refineries turn crude oil into fuels like gasoline and diesel, although not all of the petroleum products produced are used in the country.

Because a large number of petroleum products are exported, there is a discrepancy between crude oil and fuel demand estimates.

India's crude imports averaged 4.5 million barrels per day in January, down almost 3% from the previous month's high level.

Based on India's import trade statistics, February data is projected to show greater crude imports as the economy gets traction, demand increases, and refiners raise runs.

85 percent of India's oil demands are met by imports. Iraq continues to lead oil imports by source, with a share of 27 percent, according to the most recent figures for December.

Saudi Arabia came in second with over 17%, followed by the UAE with roughly 13%, with the latter witnessing a significant increase in volumes. According to the global trade statistics and market analysis reports, the US also had significant growth, reaching the fourth position with 9%.

You may also be interested in the import-export trade data of some other top global countries:

India import data                                                                                     India export data

Vietnam import data                                                                           Vietnam export data

Indonesia import data                                                                     Indonesia export data

Turkey import data                                                                             Turkey export data

Bangladesh import data                                                             Bangladesh export data

 

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India's Annual Exports Reach An All-Time High Of $335 Billion In Only Ten Months

 According to India Import-Export Data and provisional figures issued by the Ministry of Commerce on Wednesday, February 2, 2022, India's goods exports increased by 23.69 percent to USD 34.06 billion in January, owing to strong performance in engineering, petroleum, and gems and jewelry.

India export data shows that India’s exports increased by 46.53 percent to USD 335.44 billion from April to January 2021-22, compared to USD 228.9 billion the previous year and USD 264.13 billion in 2019-20.

This is India's greatest yearly export total ever, and it was reached in just ten months this year, totaling roughly USD 336 billion.

Exports of engineering products increased by 24.13 percent

Engineering exports increased by 24.13 percent to $9.2 billion, petroleum exports increased by 74.73 percent to $3.73 billion, and gems and jewelry exports increased by 13.83 percent to $3.23 billion. In January, pharmaceutical exports were USD 2.05 billion based on India customs export trade data.

In January, non-petroleum exports increased to $30.33 billion

Data of India exports suggests that non-petroleum exports totaled USD 30.33 billion in January 2022, an increase of 19.4 percent over non-petroleum exports of USD 25.4 billion in January 2021, and Non-petroleum exports of USD 22.67 billion in January 2020 increased by 33.81 percent.

Non-petroleum exports were USD 287.84 billion in 2021-22 (April-January), a 37.59 percent raise over USD 209.19 billion in 2020-21, and a 25.8% increase over USD 228.8 billion in 2019-20.

Non-petroleum and non-gems and jewelry exports totaled USD 27.09 billion in January 2022, an increase of 20.1 percent over non-petroleum and non-gems and jewelry exports of USD 22.56 billion in January 2021 and a 36.92 percent increase over non-petroleum and non-gems and jewelry exports of USD 19.79 billion in January 2020.

The top five biggest export commodity categories in 2022 are:

● Engineering goods – $9.201 billion

● Petroleum products – $3.732 billion

● Gems and Jewelry – $3.236 billion

● Organic and Inorganic chemicals – $2.447 billion

● Drugs and Pharmaceuticals – $2.054 billion

What are the top export trading partner countries of India?

United Arab Emirates, United States, Netherlands, Australia, China, Nepal, Hong Kong, Germany, Singapore, and Saudi Arabia were the major export partner countries of India in 2021 according to India export data.

India exports by country	Value in INR	Year Reference
China	Rs 115.08 Billion	December 2021
United States	Rs 513.70 Billion	December 2021
Netherlands	Rs 90.43 Billion	December 2021
Australia	Rs 75.38 Billion	December 2021
United Arab Emirates	Rs 195.67 Billion	December 2021
Germany	Rs 69.34 Billion	December 2021
Singapore	Rs 65.83 Billion	December 2021
Hong Kong	Rs 67.70 Billion	December 2021
Nepal	Rs 73.99 Billion	December 2021
Saudi Arabia	Rs 66.30 Billion	December 2021

India’s Trade Statistics of 2022

Stats Related	Value in USD ($)	Year Reference
Total Exports	$33.81 Billion	February 2022
Total Imports	$55.01 Billion	February 2022
Trade Balance	$-21.19 Billion	February 2022
Current Account	$-9600 Million	February 2022

To get the latest updates on India’s Global Import And Export or to buy India customs import-export trade data, you can connect to us at Exim Trade Data as Exim offers top-notch, updated, real-time insights into the global and Indian trade markets.

The data allowed you to track the performance of your services and products as well as help you evaluate the overall demand for your products in the foreign trade markets.

 India import-export trade data also assists businesses, traders, and manufacturers to locate and find new potential buyers and suppliers for their trade business in the overseas markets.

Vietnam's export opportunities in 2022

 The epidemic has caused countless changes in almost every element of our existence. Despite the fact that our world is slowly returning to normalcy, the disruption has left many Vietnamese Exporters unsure of profitable items to export and how to build their online business in 2022.

This article looks at Vietnam's export prospects in 2022. We also go through the upcoming Regional Comprehensive Economic Partnership (RCEP), which is slated to go into force in January 2022, and the myriad opportunities it will provide for you as a seller in Vietnam.

Overview of Vietnam's exports in 2021 and prediction for 2022

The economy of Vietnam was hampered by a spike of the COVID-19 Delta version, which posed a threat to the country's stability. COVID-19's spoils caused the GDP to decline 6.17 percent in the third quarter of the year, the greatest shortfalls since the government started tracking the numbers.

Prior to the outbreak of COVID-19, the Vietnamese economy prospered because of a competitive minimum wage and low-cost utilities, which boosted foreign direct investment in the industrial sector. The epidemic hit the economy hard, but Premier Pham Minh Chinh spoke about the economy's growth prospects for next year, predicting a 6 percent to 6.5 percent increase in GDP.

Vietnam's export possibilities in 2022

Exporting to Vietnam has a number of advantages. Due to Vietnam's simplicity of registration, seamless legal entity, and flexible licensing permit criteria, you may be able to increase your profit as a vendor.

We look at four export prospects that have arisen as a result of Vietnam's export-friendly policies:

The setup is simple

You do not need to obtain separate export and import permits to trade as an eCommerce merchant interested in exporting items from Vietnam. If you wish to engage in the distribution of goods outside of Vietnam, all you need to do is set up a trading firm.

In comparison to other nations, this is a very cost-effective business setup because there are no minimum capital requirements. Find the proper items, sign up for an eCommerce site, and start making money.

Exemptions from export taxes

Unlike goods and services imported into Vietnam, most products and services exported from Vietnam are tax-free. Some commodities, however, are subject to export charges ranging from 0% to 45 percent. Natural resources, such as forest products, scrap metals, and minerals, make up the majority of these.

 Free Trade of Agreements (FTAs)

Vietnam is a member of ASEAN and has signed many Free Trade Agreements (FTAs) with major economies across the world. The newly enacted Regional Comprehensive Economic Partnership, on the other hand, is a mouth-watering arrangement that will leave many eCommerce retailers licking their lips with enhanced revenues. By January 1, 2022, the RCEP will be completely implemented. 2 This indicates that Vietnam has made progress in lowering trade barriers through improving market access for exporting commodities.

With 2.3 billion individuals actively participating, the RCEP claims a worldwide market size of $26.2 trillion in production. 3 According to the World Bank, nations participating in the RCEP will see a 1.5 percent boost in their gross domestic product (GDP).

The accord will usher in a new era in the global economy, with tariffs on exports being abolished to the tune of up to 90%. As a seller eager to explore eCommerce potential in Vietnam, you may be comfortable that you will optimize your revenue in 2022, knowing that you will only be parting with 10% or less of your earnings.

So, if you want to make the most money in 2022, you should try exporting textiles. Many industries, including electronics and consumer goods, textiles, agricultural, and fisheries products, are expected to benefit the most from the RCEP. 

Priority clearance through customs

Whether you're a large corporation or a small business looking to expand internationally, you may benefit from priority treatment. The priority tailored treatment program entitles you to a variety of advantages. Exemption from physical examination of items, the ability to submit incomplete customer declarations, and priority access to completing tax formalities are only a few examples.

Please note that after registering an incomplete customs statement or documentary proof in lieu of a customs declaration, you will be expected to submit the entire customs declaration within 30 days.

Priority custom treatment provides you a head start; as a result, you may begin conducting transactions even before you finish your custom paperwork when you apply for priority custom treatment.

In 2022, there will be five primary areas that will gain from Vietnam's product exports.

It might be difficult to pick which products to export, especially with the latest RCEP reforms. You must do thorough market research and make accurate forecasts about trending items. We realize how daunting this may be, which is why we've spent months studying the best items to offer as an exporter in Vietnam in 2022.

Mobile accessories and electronic components

In March 20214, the electronic sector earned a staggering $10 billion, making it Vietnam's top-performing export industry at the moment. This is equivalent to 21% of the whole cargo. The electronic industry is expected to continue to lead the way in 2022, thanks to the RCEP and Vietnam's continued interest in high-tech products.

Textiles

In 2021, the textile sector will account for 12% of Vietnam's total exports. In March 2025, that corresponds to about $2.5 million in income. We expect 2022 to follow suit, as Vietnam's key trading partners demand more sustainable clothing from the textile sector.

Products derived from agriculture and fishing

Vietnam is still a key agricultural and fisheries powerhouse in the world. The agriculture and fishing industry is predicted to grow to 6 million tonnes by 2026, according to research. 6 Global demand for Vietnam's aquaculture goods is driving the expansion in production.

Electronics and computers

By 2022, Vietnam will produce and export more computers and electrical goods than it does electronic components. It now makes up 7% of overall shipments.

With all FTAs, including the Regional Comprehensive Economic Partnership, about to go into full force in the coming weeks, 2022 will be the most important year for exporters. Companies, SMEs, and individual exporters have put in place all of the necessary measures to maximize income while paying lower export charges. As a savvy entrepreneur and exporter, now is the time to get a competitive advantage over your competitors by joining an eCommerce platform that offers all of the tools you'll need to succeed.

Connect with us at Exim Trade Data if your objective is to attain financial freedom in 2022 by taking your exporting business worldwide with tools and a ready-made audience for your products. We provide global trade data services and solutions that help you transform your products and services into brands and gain popularity among top brands and your potential competitors in the international import-export trade markets.

Welcome To Exim Trade Data World’s Best Trade Data Company

 In order for you to run a successful business in import and export, you must have authentic and accurate data on import and export that includes all the important and essential information about companies and businesses. And that is exactly what we do at EXiM trade data.

EXiM trade data is one of the fastest leading and emerging import-export data trade services providers and market research companies in the globe.

EXiM trade data provides Systematic Import-Export trade data over 60+ countries all around the globe. We assist the companies to analyze and study the market and its trend to help companies make the right decision at the right time minimizing all the possible risks.

EXiM trade data is highly specialized and has a creative team that has the expertise of decades in the field of import-export trade data.

At EXiM, we use the latest techniques & technology to derive authentic and real-time import-export trade data and strategies.

At EXiM trade data we help you resolve all your import-export business operations and queries and bring you the most accurate and real-time systematic international import-export trade data statistics that assist you to enhance your ongoing import-export trade and business.

WHY EXiM TRADE DATA?

EXiM trade data help provide you with the most authentic, in-depth, and up-to-date

import-export trade data strategies that help you reduce the risk and maximize the profit in the import-export business.

export trade data, you can find new suppliers and buyers for your products and analyze the current market flow and trends in real-time.

EXiM trade data also helps the businesses and companies to know about the top importer and exporter and the strategies they use for their successful business.

At EXiM trade data you can analyze the ongoing demand of the countries and their people to make accurate plans and strategies to meet their requirements.

Right Information

We provide detailed and in-depth information that’s been tested by the team of our experts to make sure we offer you reliable facts and figures for your business.

Effective Market Intelligence

Our marketing intelligence helps you save time and get reliable and accurate import-export trade data in no time.

Safety OF The Information

At EXiM, we keep all your business and payment-related details confidential and protected.

Know Your Market

The main challenge for any business to grow is to find potential buyers for their products & commodities.

EXiM trade data help provide you with well and in-depth researched data that help you develop and evaluate marketing strategies to attract and target potential buyers in the foreign market.

For more info visit site: https://www.eximtradedata.com

Getting To Know Vietnam Trade Strategies And Customs Report Data

 Vietnam Import-Export Data is a collection of strategies and statistics this country uses for its global import-export trade business which is based on facts and figures including Import bills, Shipping Bills, Invoices, and some other crucial and important import-export documents required for trade across international borders and foreign countries.

Exim Trade Data provides exclusive market analysis reports on Vietnam trade data essential for your business to survive the competition and grow in the global trade market.

The data Exim Trade Data provides is sourced from authorized sources of links such as Vietnamese customs departments, Government bodies, Trade associations, Port authorities, Logistics & Shipping companies, and some other authorized sources of links.

The data we provide helps you compare prices, Taxes, and Quantity of duty of goods and services being exported and imported into the global trade market through Exim’s smartly developed tools and data.

Shipment Trade Data & Value of Vietnam

Given below import-export trade value of Vietnam is based on Vietnam Import Data 2020.

➢ Vietnam imported goods and services worth $221.07 billion in 2017

➢ Vietnam imported goods and services worth $251.28 billion in 2018

➢ Vietnam imported goods and services worth $271.36 billion in 2019

➢ Vietnam imported goods and services worth $279.84 billion in 2020

The customized reports and market research analysis of Exim Trade Data let you monitor the trade activities of your potential business rivals, this helps you prepare a better trade strategy for your import-export trade business

Export Trade Value of Vietnam

➢ Vietnam exported goods and services worth $221.35 billion in 2017

➢ Vietnam exported goods and services worth $259.51 billion in 2018

➢ Vietnam exported goods and services worth $279.72 billion in 2019

➢ Vietnam exported goods and services worth $287.76 billion in 2020

The market intelligence of Exim Trade Data helps you target potential audiences for your global import-export trade business. The data we offer also allows you to track the performance and demand of your goods and services in the overseas market.

What Are The Top 10 Exports of Vietnam?

Rubber & Articles of Rubber $4.6 billion (1.3%), Plastics & Articles of Plastics $5.5 billion (1.6%), Knit or Crochet Clothing & Accessories $15.2 billion (4.4%), Not Knit or Crochet Clothing & Accessories $15.5 billion (4.5%), Machinery & Computers $23.9 billion (6.9%), Fish $5.1 billion (1.5%), Technical, Optical & Medical Apparatus $5.7 billion (1.6%), Lighting, Bedding, Furniture, Prefab Buildings & Signs $15.5 billion (4.4%), Footwear $23.8 billion (6.8%), Electrical Machinery & Equipment $153.5 billion (44.1%) were the top 10 exports of Vietnam according to Vietnam export data 2020.

Top 10 Exports of Vietnam By Country

The trade statistics of Vietnam import-export suggest the USA $77 billion (27%), Japan $19.2 billion (6.84%), Hong Kong $10.4 billion (3.7%), Germany $6.63 billion (2.35%), United Kingdom $4.95 billion (1.75%), China $48 billion (17.3%), Korea $19.1 billion (6.79%), the Netherlands $6.99 billion (2.48%), India $5.23 billion (1.85%), and Thailand $4.9 billion (1.74%) were the top export partner countries of Vietnam as per Vietnam export data 2020.

For more info, you can connect to us directly or visit our official website for a quick and on-point overview of your current import-export trade statistics and strategies.