Netherlands emerges as India's 3rd largest export destination in 2023-24

According to commerce industry data, the Netherlands has risen to become India's third largest export destination behind the United States and the United Arab Emirates in 2023–24, despite a drop in item shipments of more than 3%.

As per India export data, petroleum products, electrical items, chemicals, and medicines were the primary commodities that saw strong export growth in the Netherlands in the past fiscal year.

India's trade surplus with the Netherlands climbed to USD 17.4 billion in the latest fiscal year from USD 13 billion in 2022–23.

The Netherlands has taken over important destinations, including the United Kingdom, Hong Kong, Bangladesh, and Germany. 

Furthermore, in 2021–22, the Netherlands was the fifth largest destination for Indian exports, compared to the ninth largest in 2020–21.

According to trade analysts, the Netherlands has developed as a European hub, with efficient ports and EU connectivity via roads, trains, and canals.

Source: The Hindu