The global energy market, volatility, and the country's qualifying position as a top supplier across different regions like Europe and Asian countries have set a trade landscape for other competitors. Import Globals highlights the necessary information regarding the latest shipments and quality and quantity of goods to help you understand the shifting trade strategies.

A Brief Overview of the Mineral Fuel Exports of India in 2024

The recent trade statistics on India's overall export rate have reported that the country has recorded a 13.7% decline in its mineral fuel exports from the previous year, resulting in an export trade value of 84.4 billion US dollars in 2024, then 2023 worth 97.5 billion US dollars. The ongoing efforts of the mining industries via technological evolution have boosted the production amount by 108 million tonnes in 2024, then 99 million tonnes in 2023, reflecting their efforts to develop the export rate.

Although there is diversity in the mineral fuel exports of India, the country has still recorded a drop in global crude and refined product prices, leading to less revenue generation. It highlights the vulnerability of the nation to global commodity price cycles, despite strong demands and logistical capacity. The large refining base among the top competitors continues to be the strength of the mineral fuel export economy of India. Reliance Industries operated major private sector refineries, and Nayara Energy is an export-oriented and technologically advanced mining industry, fostering the annual valuation.

A Comprehensive Analysis of India's Trade in 2024

The Statistical Analysis of India's Mineral Fuels Trade for the Last 5 Years

The Top Mineral Fuels Exported From India in 2024

The decline in exports, primarily driven by falling global oil prices, has induced India to increase diversity in the export services for countering valuation at a positive rate. According to the India Export Data, the top 10 leading variants of mineral fuels exported from the nation in 2024 are,

1. Diesel - Export valuation - 25 billion US dollars; Annual trade share - 22%

2. Petrol - Export valuation - 14 billion US dollars; Annual trade share - 18%

3. Kerosene - Export valuation - 12 billion US dollars; Annual trade share - 11%

4. LPG - Export valuation - 9 billion US dollars; Annual trade share - 8%

5. Aviation Turbine Fuel - Export valuation - 7 billion US dollars; Annual trade share - 6%

6. Naphtha - Export valuation - 6 billion US dollars; Annual trade share - 5%

7. Furnace Oil - Export valuation - 5 billion US dollars; Annual trade share - 3.2%

8. Bitumen - Export valuation - 4 billion US dollars; Annual trade share - 2.8%

9. Lubricant - Export valuation - 3 billion US dollars; Annual trade share - 1.7%

10. Paraffin Wax - Export valuation - 2 billion US dollars; Annual trade share - 1%

The Leading Export Trade Partners of India for Mineral Fuels in 2024

India, to recover its declining rate in revenue generation, has started trading its mineral fuels with top countries like the UAE, the United States, and others having cost-effective pricing strategies. According to the India Trade Data, the top 10 export trade partners of the nation for mineral fuels trade in 2024 are,

1. Netherlands - According to the Netherlands Import Data, the total valuation of mineral fuels exported from India in 2024 - 32 billion US dollars.

2. UAE - According to the UAE Import Data, the total valuation of mineral fuels exported from India in 2024 - 28 billion US dollars.

3. United States - According to the USA Import Data, the total valuation of mineral fuels exported from India in 2024 - 17 billion US dollars.

4. Singapore - According to the Singapore Import Data, the total valuation of mineral fuels exported from India in 2024 - 12 billion US dollars.

5. Australia - According to the Australia Import Data, the total valuation of mineral fuels exported from India in 2024 - 10 billion US dollars.

6. Israel - According to the Israel Import Data, the total valuation of mineral fuels exported from India in 2024 - 8 billion US dollars.

7. South Africa - According to the South Africa Import Data, the total valuation of mineral fuels exported from India in 2024 - 6 billion US dollars.

8. Togo - According to the Togo Import Data, the total valuation of mineral fuels exported from India in 2024 - 5 billion US dollars.

9. Nepal - According to the Nepal Import Data, the total valuation of mineral fuels exported from India in 2024 - 3 billion US dollars.

10. Tanzania - According to the Tanzania Import Data, the total valuation of mineral fuels exported from India in 2024 - 2 billion US dollars.

Overall Trade Outlook for 2024 and 2025

Despite the strengthening production of mineral fuels in the industry, India has faced several challenges in the year 2024. The volatility in pricing strategies in global oil market and the geopolitical tension mainly in the Middle East and Red Sea region, accompanied by carbon and green transition pressures from key buyers in Europe and the Western has collectively pressured India to diversify its energy exports, solidifying the position as a leading supplier of cleaner fuel alternatives.

The mineral fuel exports of India are expected to experience stability in value with the oil prices recovery rate in a moderate rate. The trade statistics on India's mineral fuel exports have reported that the export to Europe and Africa is expected to rise by around 22% in 2025, with aviation fuel as the top exporting commodity as global travel rebounds. The interest in green hydrogen is expected to increase with cleaner fuels playing a role in the future export strategy. The refining strength and strategic positioning of the nation keep it among the top refined fuel exporters with the evolving global energy landscape.

Conclusion - India's mineral fuel exports work as a crucial tool for the investors worldwide looking for proactive regulatory shifting trends regarding mineral fuel supply. Import Globals with its India trade data gives a strategic overview to the traders regarding potential shipments, highlighting the perforated tariff strategies and pricing ranges as per global demand.

FAQ'S

Que. What is the export trade value of mineral fuels from India in 2024?
Ans. The export trade value of mineral fuels from India in 2024 is 84.5 billion US dollars.

Que. Who is the top export trade partner of India for mineral fuels in 2024?
Ans. The Netherlands dominates the other competitors in the mineral fuel export partners list of India in 2024.

Que. What is the top mineral fuel exported variant of India in 2024?
Ans. Diesel is the top mineral fuel exported variant of India in 2024.

Que. Where can you get a detailed trade analysis of India's mineral fuels exports of 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of India's mineral fuels exports in 2024.

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