Cameroon August Import Data Overview: Understand Market Dynamics and Seize Opportunities!

Publishing Date：2024-09-18 20:45:47 Source: NBD Data(en.nbd.ltd)

As a key economy in Africa, Cameroon's import market dynamics are of significant reference value to global traders. The latest import data for August 2024 has just been released, providing fresh insights into market trends for foreign trade companies, logistics enterprises, and market analysts. This report reveals the overall performance of Cameroon's import market with a special focus on imports from China. It offers a detailed analysis of the August import data to help you seize business opportunities and understand market trends.

Overview of Cameroon’s Import Data for August:

In August 2024, Cameroon recorded a total of 45,185 import entries, which is a decrease of 3,909 entries compared to July, showing a month-on-month decline of approximately 7.96%. Compared to the same period last year, the total number of entries increased by 1,541, marking a year-on-year growth of about 3.53%. Despite some fluctuations in the number of entries, the total import value for this month reached approximately $1.113 billion, which is a 36.45% decrease compared to last month’s $1.751 billion. Year-on-year, this also represents a 34.19% decrease compared to $1.691 billion in the previous year.

Regarding buyers, the total number of import buyers in Cameroon in August was 4,289, a decrease of 83 buyers from the previous month, down by about 1.90%. However, compared to the same period last year, there was a significant increase, with 437 more buyers, representing an 11.35% year-on-year growth. The number of suppliers also fluctuated; there were 4,595 suppliers this month, down by 333 from 4,928 last month, a 6.76% month-on-month decrease. Nevertheless, compared to the 4,334 suppliers in the same period last year, there was an increase of 261, which is a 6.02% year-on-year growth.

These data reflect the overall performance of Cameroon’s import market in August. Although the total import value declined, the increase in the number of buyers and suppliers indicates that market vitality remains. Next, we will further explore the segmentation of imported goods in Cameroon, with a particular focus on the performance of Chinese goods in this market.

Top Five Imported Products in Cameroon for August:

In August 2024, the variety of goods imported into Cameroon was diverse, with the top five categories showing significant market trends.

  1. Crude Oil and Related Products (HS Code: 270900):
    This month, the total import value of crude oil and related products was $227 million, a 38.76% decrease from $370 million last month and a 64.86% drop compared to $646 million in the same period last year. This indicates a noticeable downward trend in crude oil imports, possibly related to fluctuations in international oil prices, changes in domestic demand, and energy policy adjustments.

  2. Petroleum Products (HS Code: 271019):
    Liquid petroleum products such as lubricants and fuel are Cameroon’s second-largest import category this month, with a total value of approximately $85.2 million. This represents a slight month-on-month increase of about 2.23% compared to $83.3 million last month. However, there is a 26.49% year-on-year decrease compared to $116 million last year, indicating that despite a decrease in total imports, the demand for these petroleum products remains relatively stable.

  3. Milled Rice (HS Code: 100630):
    This month, the import value of milled rice reached $42.56 million, showing a 7.84% month-on-month increase and a substantial 63.79% year-on-year growth. Compared to last month’s $39.46 million, there was an increase of approximately $3.09 million, and a rise of about $16.57 million from $25.98 million in the same period last year. The growth in milled rice imports, a staple food in Cameroon, may reflect a rising domestic demand for this grain or an easing of import policies.

  4. Gasoline (HS Code: 271012):
    The import value of gasoline products this month was $39.75 million, a decrease of 38.16% month-on-month and 57.45% year-on-year compared to $93.38 million in the same period last year. This significant downward trend may reflect adjustments in Cameroon’s domestic economic conditions, changes in fuel consumption policies, or the impact of international oil prices.

  5. Hard Wheat (HS Code: 100199):
    Cameroon’s total import value for hard wheat this month was $33.45 million, a substantial month-on-month increase of 125.22% and a 33.02% year-on-year increase compared to $25.15 million in the same period last year. As an important food ingredient, the significant increase in wheat imports may indicate a rising domestic demand for wheat products.

Overall, the composition of Cameroon’s imported goods in August shows that energy products (crude oil, petroleum products, gasoline) and food products (milled rice, hard wheat) still occupy a large share. However, while the import value of energy products is generally declining, the import of food products is showing a growth trend. This change may be related to the global economic situation, fluctuations in international market prices, and adjustments in Cameroon’s domestic policies.

Top Buyers for Major Imported Products in Cameroon:

Focusing on the main product categories in Cameroon’s import market for August 2024, here are the top buyers for each category along with their import value, month-on-month, and year-on-year changes.

  1. Crude Oil and Related Products (HS Code: 270900):

    • STE NAT DES HYDROCARBURES (snh.cm)
      • Import Value This Month: $88.83 million, Last Month: $340 million (Decrease of $251.97 million), Last Year: $0 (Increase of $88.83 million)
    • PERENCO RIO DEL REY (perenco.com)
      • Import Value This Month: $83.87 million, Last Month: $0 (Increase of $83.87 million)
    • ADDAX PETROLEUM CAMEROON COMPANY S A (addaxpetroleum.com)
      • Import Value This Month: $54.14 million, Last Month: $0 (Increase of $54.14 million), Last Year: $646 million (Decrease of $591.49 million)

  2. Petroleum Products (HS Code: 271019):

    • NEPTUNE OIL (neptuneenergy.com)
      • Import Value This Month: $29.08 million, Last Month: $13.24 million (Increase of $15.84 million), Last Year: $15.42 million (Increase of $13.66 million)
    • TRADEX S.A. (tradex.es)
      • Import Value This Month: $24.84 million, Last Month: $10.16 million (Increase of $14.68 million), Last Year: $13.91 million (Increase of $10.93 million)
    • TOTAL CAMEROUN S.A. (totalenergies.cm)
      • Import Value This Month: $9.29 million, Last Month: $15.37 million (Decrease of $6.08 million), Last Year: $14.93 million (Decrease of $5.64 million)

  3. Milled Rice (HS Code: 100630):

    • AFRICAINE DE LA DISTRIBUTION MODERNE (africadistribution-group.com)
      • Import Value This Month: $14.77 million, Last Month: $0.163 million (Increase of $14.61 million)
    • OLAM CAMEROUN S.A. (olamgroup.com)
      • Import Value This Month: $14.27 million, Last Month: $1.70 million (Increase of $12.56 million), Last Year: $2.08 million (Increase of $12.18 million)
    • PROGRAMME ALIMENTAIRE MONDIAL (fr.wfp.org)
      • Import Value This Month: $4.99 million, Last Month: $3.29 million (Increase of $1.70 million), Last Year: $2.18 million (Increase of $2.81 million)

  4. Gasoline (HS Code: 271012):

    • TRADEX S.A. (tradex.es)
      • Import Value This Month: $31.33 million, Last Month: $9.60 million (Increase of $21.72 million), Last Year: $8.14 million (Increase of $23.19 million)
    • VISION ENERGY S.A (visionenergy.com)
      • Import Value This Month: $5.59 million, Last Month: $0 million (Increase of $5.59 million)
    • TOTAL CAMEROUN S.A. (totalenergies.cm)
      • Import Value This Month: $2.72 million, Last Month: $22.02 million (Decrease of $19.30 million), Last Year: $54.25 million (Decrease of $51.54 million)
  5. Hard Wheat (HS Code: 100199):
    • STE AFISA FOOD INDUSTRY S.A. (elnefeidi.com)
      • Import Value This Month: $9.21 million, Last Month: $1.76 million (Increase of $7.45 million), Last Year: $3.92 million (Increase of $5.29 million)
    • OLAM CAMEROUN S.A. (olamgroup.com)
      • Import Value This Month: $6.78 million, Last Month: $0 million (Increase of $6.78 million)
    • LA PASTA S.A. (cadyst.com)
      • Import Value This Month: $5.61 million, Last Month: $2.22 million (Increase of $3.39 million), Last Year: $1.93 million (Increase of $3.68 million)

These top buyers reflect Cameroon’s demand for various goods, particularly in energy and food sectors. Understanding their purchasing behavior provides valuable insights for suppliers and traders to develop more targeted market strategies.

Cameroon’s Main Trade Partners:

In August 2024, Cameroon's main trade partners showed a diversified pattern. Below is an analysis of Cameroon’s top ten trade partners:

  1. China (CHINA):
    China continues to be Cameroon’s largest trade partner, with a total export value of approximately $130 million this month. However, compared to last month, the export value decreased by about $43.8 million, showing a significant month-on-month decrease. This could be related to market demand or trade policy adjustments. Nevertheless, there was still a year-on-year growth, with an increase of approximately $8.88 million.

  2. Togo (TOGO):
    Togo ranks second with an export value of $69.18 million. Although there was a decrease of about $8.76 million month-on-month, the year-on-year decrease was even more pronounced, reaching approximately $13.46 million, indicating a downward trend in trade value.

  3. France (FRANCE):
    France remains one of Cameroon’s main trade partners, but this month’s export value saw a significant decline, decreasing by approximately $14.36 million compared to last month and $47.71 million year-on-year. This decline may be influenced by various factors such as market fluctuations in Europe or supply chain issues.

  4. Belgium (BELGIUM):
    Belgium’s export value to Cameroon this month is about $61.62 million, a month-on-month increase of approximately $17.01 million, but a decrease of about $8.08 million compared to the same period last year. Despite the month-on-month growth, the overall trade value remains below last year's level.

  5. Thailand (THAILAND):
    Thailand stands out this month as a remarkable trade partner, with an export value of $41.31 million. This represents a month-on-month increase of approximately $33.43 million and a year-on-year growth of about $39.64 million. This surge may be due to Thailand’s increased efforts in developing the Cameroonian market or the popularity of emerging products in Cameroon.

  6. United Kingdom (UNITED KINGDOM):
    The UK also saw an improvement in its export performance to Cameroon this month, with a total value of approximately $28 million, representing an increase of about $17.19 million month-on-month and $22.79 million year-on-year. This growth may be associated with the UK's expansion strategy in the African market.

  7. Switzerland (SWITZERLAND):
    Switzerland’s export value to Cameroon this month is around $25.31 million, which is a decrease of about $13.51 million month-on-month and $30.75 million year-on-year. The reduction in trade value may be influenced by changes in the global market.

  8. United Arab Emirates (UNITED ARAB EMIRATES):
    The UAE’s export value to Cameroon this month is approximately $23.65 million, with a slight month-on-month increase of about $1.5 million and a year-on-year increase of about $8.34 million, indicating strengthening trade ties between the UAE and Cameroon.

  9. India (INDIA):
    India remains an important trade partner for Cameroon, but the export value this month is about $21.23 million, a month-on-month decrease of approximately $9.55 million and a year-on-year decrease of about $21.34 million. This could be related to changes in the Indian domestic market or adjustments in international trade policies.

  10. Romania (ROMANIA):
    Romania’s export value to Cameroon this month is about $16.01 million, showing a substantial month-on-month increase of approximately $14.66 million and a year-on-year increase of about $15.79 million. Romania’s rapid growth in the Cameroonian market is noteworthy and may be due to a rise in demand for certain specific products or the strengthening of trade cooperation.

Conclusion:

The import data for Cameroon in August 2024 reflects diverse market dynamics. Although the total import value has declined, the growth in the number of buyers and suppliers indicates that market vitality remains. Major imported goods in Cameroon include energy products such as crude oil and petroleum products, which hold a significant position. However, their import value shows a downward trend, possibly related to fluctuations in international oil prices and changes in domestic demand. Meanwhile, the import value of food products such as milled rice and hard wheat has increased, indicating rising domestic demand for these foods.

In terms of trade partners, China continues to be Cameroon’s largest trade partner. Despite a month-on-month decrease, there is still a year-on-year growth. Other major trade partners, including Togo, France, and Belgium, have shown varying export performances, with some experiencing significant fluctuations. Notably, Thailand and Romania have performed well this month, with substantial growth in export value, possibly due to their proactive market expansion or increased demand for certain products in Cameroon.

By analyzing these data, foreign trade companies, importers, and market analysts can better understand the trends in Cameroon’s import market, enabling them to formulate more effective trade strategies. NBD Data, through its professional customs data, foreign trade data, and import-export data analysis, is dedicated to providing clients with the latest market information and in-depth market insights, helping businesses succeed in the Cameroon import market.

Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information.


For more detailed data, please visit NBD Data's official website: en.nbd.ltd

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Trade companies that can keep up with market dynamics and gain deeper insights into local demand shifts will be better positioned to capitalize on potential business opportunities.Recommended Namibian Buyers for Key Imported ProductsBelow is a list of recommended buyers for key product categories in the Namibian import market this month, along with the import value and related buyer information. These recommended buyers can provide effective market entry points and potential partnerships for foreign trade companies.Mineral Fuels and Products (HS Code: 271012)PUMA ENERGY NAMIBIA TWO PTY LTD. (pumaenergy.com)Total purchase amount this month: 116,623,495 USD; MoM amount: 104,689,619 USD; MoM change: 11,933,876 USD; YoY amount: 0 USD; YoY change: 116,623,495 USD.VALIDUS ENERGY NAMIBIA PTY LTD. (validus-energy.com)Total purchase amount this month: 64,379,033 USD; MoM amount: 0 USD; MoM change: 64,379,033 USD; YoY amount: 117,043,855 USD; YoY change: -52,664,822 USD.PUMA ENERGY NAMIBIA PTY LTD. (pumaenergy.com)Total purchase amount this month: 46,767,233 USD; MoM amount: 57,048,762 USD; MoM change: -10,281,529 USD; YoY amount: 8,014,375 USD; YoY change: 38,752,858 USD.Light Vehicles (HS Code: 870421)INDONGO AUTO PTY LTD. (indongomotorsgroup.com)Total purchase amount this month: 10,709,451 USD; MoM amount: 10,204,779 USD; MoM change: 504,672 USD; YoY amount: 12,123,435 USD; YoY change: -1,413,984 USD.PUPKEWITZ MOTORS PTY LTD. (pupkewitz-motors.com)Total purchase amount this month: 8,501,153 USD; MoM amount: 7,912,604 USD; MoM change: 588,549 USD; YoY amount: 11,376,313 USD; YoY change: -2,875,160 USD.INDONGO MOTORS PROPRIETARY LTD. (indongomotorsgroup.com)Total purchase amount this month: 3,178,741 USD; MoM amount: 4,034,807 USD; MoM change: -856,066 USD; YoY amount: 3,958,575 USD; YoY change: -779,834 USD.Beer and Malt Beverages (HS Code: 220300)NAMIBIA BREWERIES LTD. (nambrew.com)Total purchase amount this month: 31,404,027 USD; MoM amount: 30,768,055 USD; MoM change: 635,972 USD; YoY amount: 12,446,598 USD; YoY change: 18,957,429 USD.ANHEUSER-BUSCH INBEV NAMIBIA BREWERIES PTY LTD. (ab-inbev.com)Total purchase amount this month: 5,076,561 USD; MoM amount: 4,461,444 USD; MoM change: 615,117 USD; YoY amount: 4,895,518 USD; YoY change: 181,043 USD.ZEF COMERCIAL (zefenergy.com)Total purchase amount this month: 113,805 USD; MoM amount: 43,514 USD; MoM change: 70,291 USD; YoY amount: 44,020 USD; YoY change: 69,785 USD.Medium Passenger Vehicles (HS Code: 870323)TRANSWORLD CARGO (PTY) LTD. (transworldcargo.net)Total purchase amount this month: 13,304,415 USD; MoM amount: 4,394,573 USD; MoM change: 8,909,842 USD; YoY amount: 0 USD; YoY change: 13,304,415 USD.INDONGO AUTO PTY LTD. (indongomotorsgroup.com)Total purchase amount this month: 2,134,717 USD; MoM amount: 1,486,218 USD; MoM change: 648,499 USD; YoY amount: 3,315,517 USD; YoY change: -1,180,800 USD.FIRST NATIONAL BANK OF NAMIBIA LTD. (fnbnamibia.com.na)Total purchase amount this month: 1,757,676 USD; MoM amount: 1,278,890 USD; MoM change: 478,786 USD; YoY amount: 1,781,694 USD; YoY change: -24,018 USD.Diamonds and Jewelry (HS Code: 710231)KGK DIAMONDS NAMIBIA PTY LTD. (kgkgroup.com)Total purchase amount this month: 3,304,952 USD; MoM amount: 695,197 USD; MoM change: 2,609,755 USD; YoY amount: 3,188,010 USD; YoY change: 116,942 USD.The above buyers are active purchasers of major products in the Namibian market, with high purchase frequency and stable trade demand. Foreign trade companies should prioritize these buyers and use NBD Data (en.nbd.ltd) to further explore potential business opportunities, optimize trade strategies, and enhance market competitiveness.Analysis of Namibia's Key Trading PartnersSouth AfricaAs Namibia's largest trading partner, South Africa recorded a total of 165,241 transactions this month, with a total trade value reaching USD 389,859,340. Although the month-on-month trade value decreased by USD 20,031,887, it showed a year-on-year increase of USD 19,581,419, highlighting South Africa’s stable presence in the Namibian market. South Africa's main export products to Namibia include food, mineral fuels, and machinery, making it a primary supplier to the Namibian market.United Arab EmiratesThis month, the United Arab Emirates exported goods worth USD 90,827,666 to Namibia. Despite a month-on-month decrease of USD 33,447,583, the trade value increased by USD 10,782,180 compared to the same period last year. This indicates the UAE’s strong competitive position in exporting electronic equipment and mineral products to Namibia.QatarQatar saw a significant increase in trade activity with Namibia this month, with a total trade value of USD 81,414,768. The value increased by USD 81,409,076 compared to the previous month, as new trade transactions were established. Qatar's main export products include liquefied natural gas (LNG) and other energy products, signaling an expanding cooperation between Qatar and Namibia in the energy sector.OmanOman’s total trade value with Namibia for this month reached USD 62,061,646, a month-on-month increase of USD 62,031,688. However, this represents a year-on-year decrease of USD 16,550,368, indicating significant trade fluctuations. This suggests the need to closely monitor future trade trends and cooperation between Oman and Namibia.ChinaThe total export value from China to Namibia this month was USD 33,765,781, a month-on-month decrease of USD 28,532,657. Nevertheless, it marked a year-on-year increase of USD 6,406,121. China’s main exports to Namibia include machinery and consumer goods. Despite short-term fluctuations, overall demand remains strong, reflecting China’s sustained role as a key supplier to Namibia.These key trading partners collectively shape Namibia's import market, with South Africa and China maintaining a significant presence. As Qatar and Oman expand their energy exports to Namibia, the dynamics of the Namibian import market are expected to continue evolving. Foreign trade enterprises can leverage these insights to explore new opportunities and establish stronger trade relations in the region.Exchange Rate AnalysisOverall Trend: Over the past year, the exchange rate of the Namibian Dollar (NAD) against the US Dollar (USD) has shown a fluctuating but overall declining trend, indicating that the Namibian Dollar has been appreciating against the US Dollar. The exchange rate gradually decreased from 19.07 NAD/USD in September 2023 to 17.99 NAD/USD in August 2024.Notable Changes:November to December 2023: During this period, the exchange rate slightly increased from 18.22 to 18.26 NAD/USD, reflecting a relatively stable trend with minimal fluctuations.March to April 2024: The exchange rate rose from 18.75 to 18.97 NAD/USD, indicating a short-term depreciation of the Namibian Dollar against the US Dollar.Since May 2024: The exchange rate has gradually declined to 17.99 NAD/USD, showing a consistent appreciation of the Namibian Dollar, likely influenced by domestic economic policy adjustments or a weakening of the US Dollar.Future Trend ForecastBased on the current trend, the Namibian Dollar is expected to continue appreciating slightly against the US Dollar in the coming months. This projection is driven by the following factors:Recovery of Namibia's Domestic Economy: A stable and recovering domestic economy could strengthen the purchasing power of the Namibian Dollar.Global Weakening of the US Dollar: If the US Dollar continues to weaken, the Namibian Dollar is likely to experience further appreciation.It is recommended to closely monitor the global economic situation and any adjustments to Namibia’s domestic monetary policies, as these will be crucial factors in determining the future trend of the exchange rate. ConclusionThe Namibian import market in August 2024 showed significant changes in various aspects. Overall, although the total import value declined this month, the increase in the number of importers indicates growing diversity and activity in market demand. Among the major imported products, mineral fuels and light vehicles remain the mainstays of Namibia’s import market, while beer and malt beverages exhibited strong growth, reflecting an increase in local consumption demand.Regarding key trading partners, South Africa, China, and the United Arab Emirates continue to be Namibia’s most important partners, with South Africa holding the largest market share. Notably, emerging markets such as Oman and Qatar have shown rapid growth in exports to Namibia, indicating their potential to become significant players in the Namibian import market in the future.In terms of exchange rates, the Namibian Dollar (NAD) has generally appreciated against the US Dollar over the past 12 months. This trend could be attributed to local economic policies and a weakening US Dollar. If Namibia’s domestic economy remains stable, it is expected that the exchange rate will continue to show relative strength in the coming months.For foreign trade enterprises, understanding Namibia’s market demand and buyer information, especially focusing on product categories with increased import values and active buyers this month, such as beer and medium passenger vehicles, can help capture market opportunities. Furthermore, closely monitoring exchange rate fluctuations and global economic conditions can assist companies in formulating better trade strategies. NBD Data (en.nbd.ltd), as a provider of the latest and most comprehensive foreign trade data analysis, will continue to offer accurate market intelligence and professional trade data support for businesses and individuals.Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. 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Heavyweight Report! India’s August Import Data Unveiled, A Must-Read for Trade Enterprises

2024-09-24 12:18:41

In the midst of an ever-changing global economic landscape, India's import-export trade dynamics have garnered significant attention. As a representative of emerging economies, India's monthly customs import data provides crucial market signals for global trade enterprises. The August 2024 Indian customs import data is particularly important, especially given the disruptions in global supply chains. India's procurement trends and market demand have become focal points of attention. This article provides a comprehensive analysis of India's import data for August 2024, revealing the products most favored by Indian buyers and the implications of these trends for import-export businesses. Whether you are a foreign trade company, a SOHO professional, or a market analysis expert, this article will provide forward-looking insights to help you better capture market opportunities.Overview of India's August Import DataAccording to India's customs import data for August 2024, the country recorded 5,019,114 import entries, representing a decrease of 393,117 entries compared to the previous month, a month-over-month (MoM) decline of 7.26%. However, when compared to the same period last year, with 4,383,435 entries, this marks an increase of 635,679 entries, a year-over-year (YoY) rise of 14.50%. Despite the monthly decline, this shows a significant improvement in overall import activity compared to last year, indicating steady growth in India's market demand.In terms of monetary value, India’s total imports in August 2024 reached $68,040,457,047, reflecting a 14.87% decline from the previous month's total of $79,923,423,894, a reduction of $11,882,966,847. However, compared to August 2023’s $53,303,800,292, the total import value increased by 27.65%. This notable rise suggests a strong recovery in India’s market demand, particularly in the sectors of bulk commodities and manufacturing raw materials.The number of import buyers in August 2024 was 59,269, a 2.33% decrease from last month, with a drop of 1,415 buyers. However, compared to the same period last year, the number of buyers increased by 2,374, marking a 4.17% YoY rise. This indicates that, despite short-term fluctuations, the overall demand for imported goods in the Indian market is steadily increasing.On the supplier side, a total of 111,888 suppliers were involved in India’s import and export activities this month, a 3.13% decrease from the previous month, with a reduction of 3,609 suppliers. Nevertheless, YoY data shows an increase of 8,659 suppliers, an 8.39% growth. This trend suggests that while certain suppliers have temporarily reduced exports to India, the overall supply chain is still expanding, and India’s appeal to global suppliers remains strong.This overview provides the macroeconomic background for the article. We will now delve into the specific products and market trends in India's imports this month.Top 5 Imported Goods in India for AugustAccording to India’s customs import data for August 2024, the top five imported goods covered a range of sectors including energy, precious metals, and electronics. Here’s a breakdown of the top categories:HS Code 270900 - Crude Oil & Unprocessed PetroleumThis month’s import value reached $10.745 billion, representing a 44.10% decrease from last month’s $19.221 billion and a 12.98% year-over-year (YoY) decline. The fluctuation in international oil prices and adjustments in India’s domestic demand are the primary reasons for this drop.HS Code 710812 - Non-Industrial Diamonds (Uncut or Simply Cut)Imports amounted to $8.949 billion this month, a massive 181.01% increase from the previous month and a 253.27% YoY surge. The sharp rise in imports is largely driven by a booming demand in the jewelry industry.HS Code 270119 - Coal (Unprocessed)This month saw coal imports valued at $2.43 billion, a 35.57% decline from last month, but a 17.61% YoY increase. India’s reliance on coal as a primary energy source remains strong, despite short-term fluctuations in imports.HS Code 854231 - Semiconductor DevicesThe import value for semiconductors was $1.57 billion this month, reflecting a slight 2.18% month-over-month (MoM) decrease, but a 19.29% YoY growth. The continuous demand for semiconductors underscores their importance in India’s expanding electronics industry.HS Code 851779 - Communication EquipmentImports in this category reached $1.457 billion, a 4.92% MoM decrease, but an 18.87% YoY increase. The ongoing development of 5G networks has sustained high demand for communication equipment.Key Buyers for India’s Major Imported GoodsBased on India’s customs import data for August 2024, below are the top product categories and their major buyers. The purchasing amount, as well as month-over-month (MoM) and year-over-year (YoY) changes for each buyer, highlight their importance in the Indian market.HS Code 270900 - Crude Oil & Unprocessed PetroleumHINDUSTAN PETROLEUM CORPORATION LIMITED (hindustanpetroleum.com)August Purchase Amount: $2.264 billion | MoM: $2.620 billion | MoM Decrease: -$356 million | YoY: $2.488 billion | YoY Decrease: -$223 millionINDIAN OIL CORPORATION LIMITED (iocl.com)August Purchase Amount: $1.802 billion | MoM: $3.125 billion | MoM Decrease: -$1.323 billion | YoY: $3.015 billion | YoY Decrease: -$1.213 billionBHARAT PETROLEUM CORPORATION LIMITED (bharatpetroleum.in)August Purchase Amount: $1.775 billion | MoM: $2.520 billion | MoM Decrease: -$745 million | YoY: $2.073 billion | YoY Decrease: -$297 millionHS Code 710812 - Non-Industrial Diamonds (Uncut or Simply Cut)MMTC - PAMP INDIA PRIVATE LIMITED (mmtcpamp.com)August Purchase Amount: $2.103 billion | MoM: $1.171 billion | MoM Increase: +$931 million | YoY: $716 million | YoY Increase: +$1.387 billionHDFC BANK LIMITED (hdfcbank.com)August Purchase Amount: $1.803 billion | MoM: $264 million | MoM Increase: +$1.539 billion | YoY: $248 million | YoY Increase: +$1.555 billionICICI BANK LTD. (icicibank.com)August Purchase Amount: $1.229 billion | MoM: $365 million | MoM Increase: +$864 million | YoY: $158 million | YoY Increase: +$1.071 billionHS Code 270119 - Coal (Unprocessed)TATA STEEL LIMITED (tatasteel.com)August Purchase Amount: $344 million | MoM: $582 million | MoM Decrease: -$238 million | YoY: $150 million | YoY Increase: +$194 millionJSW STEEL LIMITED (jsw.in)August Purchase Amount: $332 million | MoM: $206 million | MoM Increase: +$125 million | YoY: $281 million | YoY Increase: +$50 millionSTEEL AUTHORITY OF INDIA LIMITED (sail.co.in)August Purchase Amount: $306 million | MoM: $613 million | MoM Decrease: -$307 million | YoY: $373 million | YoY Decrease: -$67 millionHS Code 854231 - Semiconductor DevicesFOXCONN HON HAI TECHNOLOGY INDIA MEGA DEVELOPMENT (foxconn.com)August Purchase Amount: $336 million | MoM: $342 million | MoM Decrease: -$6 million | YoY: $413 million | YoY Decrease: -$77 millionDBG TECHNOLOGY INDIA PRIVATE LIMITED (dbgindia.in)August Purchase Amount: $123 million | MoM: $128 million | MoM Decrease: -$5 million | YoY: $122 million | YoY Increase: +$1 millionHS Code 851779 - Communication EquipmentFOXCONN HON HAI TECHNOLOGY INDIA MEGA DEVELOPMENT (foxconn.com)August Purchase Amount: $542 million | MoM: $638 million | MoM Decrease: -$96 million | YoY: $667 million | YoY Decrease: -$125 millionPEGATRON TECHNOLOGY INDIA PRIVATE LIMITED (pegatroncorp.com)August Purchase Amount: $102 million | MoM: $65 million | MoM Increase: +$37 million | YoY: $84 million | YoY Increase: +$19 millionThe chart illustrates the export value of India's top 10 trading partners for August 2024. China leads with an export value of over $13 billion, followed by Russia and the United States. The chart, based on total export value, clearly reflects the contribution of each major trading partner to India's imports.Analysis:China is India’s largest trading partner, with a total of 2,060,523 import entries and 50,097 exporters in August. Despite a month-over-month decrease in total entries (-91,337), the year-over-year increase is significant, with entries up by 386,894 and a total value increase of $2.652 billion. This indicates India’s growing dependence on Chinese goods, particularly in communication equipment and electronic components.Russia is India’s primary supplier of energy products. Although it has fewer export entries compared to other partners, the total export value reached $5.349 billion. However, the export value saw a sharp month-over-month decline (-$5.148 billion), likely due to energy price fluctuations.The United States ranks as India’s third-largest trading partner, with a total export value of $4.42 billion. The year-over-year value grew by $881 million, primarily driven by increased demand for technology products and medical equipment.The United Arab Emirates (UAE), which primarily exports oil and gold, saw a total export value of $3.808 billion. The year-over-year increase of $1.014 billion reflects sustained demand in the energy and jewelry sectors.The chart illustrates the exchange rate trend of the Indian Rupee (INR) against the US Dollar (USD) over the past 12 months. The data shows that there was some fluctuation in early 2024, and particularly after April 2024, the Indian Rupee began to depreciate, with the exchange rate rising to 83.96.Analysis:From September 2023 to March 2024, the INR/USD exchange rate remained relatively stable with minor fluctuations. This stability is likely tied to a relatively calm global market and steady domestic economic conditions in India.After April 2024, the exchange rate saw a sharp increase, indicating a depreciation of the Indian Rupee. The exchange rate climbed from 83.02 to 83.96. This change is likely influenced by global market volatility, inflation, and international capital flows.Future Outlook:The depreciation of the Indian Rupee against the US Dollar is likely to continue, especially given increasing global economic uncertainty. If India is unable to control inflation or attract more foreign investment, the exchange rate may rise even further, signaling continued pressure on the Rupee.Through a comprehensive analysis of India’s August 2024 customs import data, it is clear that India's demand for imports continues to grow across several key sectors, particularly in energy, communication equipment, and electronic components. China, as India’s largest trading partner, maintains a strong presence in the import market, while other major partners such as the United States, Russia, and the UAE also play crucial roles in India’s import landscape.From the exchange rate trend, the continued depreciation of the Indian Rupee against the US Dollar is likely to further impact import costs, especially in the context of rising international oil prices and global supply chain disruptions. Over the coming months, India’s import dynamics may be influenced by exchange rate fluctuations, changes in the global economy, and adjustments in domestic demand.For foreign trade companies, understanding and navigating the trends in India’s import market is essential. By closely monitoring India’s import data, particularly for major commodities and key trade partners, businesses can better strategize, optimize their supply chains, and seize market opportunities. NBD Data will continue to provide you with the latest and most comprehensive customs data to support every step of your global trade decision-making process.Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information.For more detailed data, please visit NBD Data's official website: en.nbd.ltd...

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