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Country Profiles 1

The document compares economic indicators and trade profiles between the UK and India for the years 2022 and 2023. It highlights key statistics such as GDP, inflation, unemployment rates, and trade patterns, along with current account deficits and debt levels. Additionally, it discusses trading blocs, tariffs, currency exchange systems, and volatility in exchange rates between the two countries.

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4 views2 pages

Country Profiles 1

The document compares economic indicators and trade profiles between the UK and India for the years 2022 and 2023. It highlights key statistics such as GDP, inflation, unemployment rates, and trade patterns, along with current account deficits and debt levels. Additionally, it discusses trading blocs, tariffs, currency exchange systems, and volatility in exchange rates between the two countries.

Uploaded by

julianna valenzona
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Please complete as detailed as possible.

ATTENTION!!!! PUT IN BRAKETS THE YEAR YOU GOT THE FIGURE FOR!!!!!!!!
Trade Data visualization | WITS |
visualization (worldbank.org)

Developed country: UK Developing country: India


Population (2022) 66,488,991 (2023) 1.429 billion
GDP (2022) $3,070,667,732,359.21 (Current (2023) 3.55 trillion USD
US$)
GDP/capita (2022) $48,890 (Current US$) (2023) 2,484.85 USD
Inflation (CPI) (ONS December 2024) 3.5% Dec 2023-Dec 2024) CPI = 5.22%
Unemployment (ONS 2024 Q4) 4.4% (June 2024) 9.2%
16+, seasonally adjusted
Trade profile
• main X China: 110,329 (US$ Mil) (2022) China: 102,249 (US$ Mil) (2023)
• main M US: 64,602 (US$ Mil) (2022) US: 80,230 (US$ Mil) (2023)
• value of X (US$ Mil) 535,135 (US$ Mil) (2020) 452,684
• value of M (US$ Mil) 821,631 (US$ Mil) (2020) 732,566
• trade intensity
• NX (2020) -286,496 (US$ Mil) Q3 2024,
• Pattern of trade (top 1. Gold in oth semi-manufactured 1. Petroleum oils, etc, (excl. crude);
5 forms,non-monetar (72,478,919.71) preparation (94,398,699.63)
commodities) (US$ 2. Petroleum oils and oils obtained from 2. Diamonds non-industrial nes excluding
Thousands) bituminous (25,105,379.77) mounted o (22,959,945.96)
3. Petroleum oils, etc, (excl. crude); 3. Other medicaments of mixed or unmixed
preparation (18,687,340.25) products, (15,075,128.42)
4. Other medicaments of mixed or 4. Semi-milled or wholly milled rice
unmixed products (17,417,145.98) (9,400,160.30)
5. Turbo-jets of a thrust exceeding 25 KN 5. Art. of jewellery and pts thereof of/o prec
(16,016,480.71) mtl (9,219,529.04)
• Pattern of trade (top
5 trade patterns)
Current account – current Q3 2024, current account deficit of £20bn (September 2024) Deficit of 11.2 USD bn
year or 2.8% GDP (£bn) (ONS) (CEIC)
Current account past 10
years
Capital account (CEIC) -1,669.000 GBP (September 2024) (September 2024) 192.303 USD mn
Financial account (ONS) Net inflow of £19.1bn in Q3 (September 2024) 295.815 USD bn
Financial account past 10
years (if possible)
Debt level (ONS) (Q4 2023) Gross £2,720.8 billion = 101.3% GDP
(ONS) (Q4 2023)
Debt/GDP 101.3 GDP (ONS) (Q4 2023) 56.05% of GDP is debt (2023) (IMF)
Trading blocs (if any or CARIFORUM trade bloc APTA (Asia Pacific Trade Agreement)
bilateral trade agreements) ESA (Eastern and Southern Africa) trade GSTP (Global System of Trade Preferences)
bloc – Mauritus (e.g.) (2023) £2,027mill SAPTA (SAARC Preferential Trading
SACUM (Southern Africa Customs Union) Agreement)
Trade agreement with Canada with
26,287 total trade (2023) (£ mill)
Tariffs with UK (give few n/a (2025) current plants to reestablish a Free
examples of tariffs, up to 5) Trade Agreement with the UK
Tariffs with EU (give few No Tariffs due to the Trade and 2022, opened discussions for a free Trade
examples of tariffs, up to 5) Cooperation Agreement (TCA, 2021) Agreement with the EU
Quotas (find out with what No Quotas with EU countries due to the
countries and the level – not Trade and Cooperation Agreement
more than 5, not less than
3)
Subsidies – one example £3 National Bus Fare Cap (2019) 2-2.25% of GDP goes to subsidies for
Public Authority – DfT farmers as they form a substantial part of
Lasts for all 2025 aggregate farm income
Factor endowments – does In labour due to education and training In labour with a large and young workforce due
your country has any? (Oxbridge Universities) to its population size
What type of currency Floating exchange rate The Reserve Bank of India (RBI) maintains the
exchange system? exchange rate in India
What is the current 21/Jan/2025 21/Jan/2025
exchange rate with 5 major £1 = 1.18 EURO
currencies? £1 = £1 GBP 1 Indian Rupee =
USD £1 = 1.23 USD 0.012 USD
EURO £1 = 191.99 JPY 0.011 EURO
GBP £1 = 8.98 CHY 0.0093 GBP
JPY 1.80 JPY
CHY 0.084 CHY

Chose one of the 5 and Volatility between USD and GBP has been Volatility between the Indian Rupee and USD
explain the volatility with relatively similar for the past 10 years General decrease in value since December
that currency in the past 10 2015 being around 1.5, moving to about 2024, with spikes 20/Jan before rapid
years 1.2 in 2025 decreases to 0.012 in 21st

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