The country has also emerged as the world's 13th largest importer of commercial services - up two positions from last year, and 17th largest importer of goods from 23rd a year ago, as per WTO's International Trade Statistics for 2005.
Fuelled by booming software and ITeS exports, the country's total exports of services grew by 41.6 per cent to $56.1 billion as against $39.6 billion. This has helped the country maintain a modest surplus in services trade as imports stand at a lower $52.2 billion.
But on the back of rising global crude oil prices, India's total merchandise imports have swelled to $134.8 billion from $97.3 billion in 2004. Exports, meanwhile, have jumped 25.8 per cent in 2005 to $95.1 billion compared to $75.6 billion in the previous year.
Overall, the country's total imports - both goods and services - were much higher at $197 billion in 2005 compared to $151.2 billion of total exports that year.
Although exports are witnessing a double-digit growth, India's share in world trade still remains negligible.
The country's share in goods exports is just 0.9 per cent and in goods imports a mere 1.3 per cent. In services, the country has 2.3 per cent share in exports and 2.2 per cent in imports during 2005.
