US total bilateral trade (goods and services) with India dropped 18% to $122 billion in 2020, likely due to the pandemic.
US exports of goods and services to India at $45 billion were down 26% from 2019; US imports from India, at $77 billion, dropped 12% from $88 billion in 2019.
Bilateral trade in goods shrunk 21% to $79 billion in 2020 from the 2019 level; U.S. goods exports witnessed a drastic drop of 21%, while imports of goods from India were comparatively less affected by the pandemic, declining 11% from the 2019 level.
Bilateral trade in services was severely affected due to the pandemic-driven lockdowns, dropping 24% in 2020; US services trade deficit with India more than doubled in 2020 to $8 billion.
India ranked 12th largest goods market for U.S. exports in 2020; US energy exports to India accounted for more than 25% of total merchandize US exports to India.
India was the United States’ 11th largest source of goods imports in 2020; Pharmaceutical and Precious Stones were top US imports from India, accounting for nearly 16% share each in the total goods imports.
US-India Strategic Partnership Forum