After logging a growth of more than 20 per cent in the first half of 2003, India's exports to the US closed the year at $13.03 billion, representing a rise of 10.52 per cent.

On the other hand, imports from the US increased 18.75 per cent to $4.37 billion during 2003 compared with $3.68 billion in 2002, according to trade statistics released by the US International Trade Commission.

In spite of the higher growth in imports from the US, India increased its trade surplus to $8.66 billion in 2003 compared with $8.11 billion in 2002.

Trade figures
	2002 ($ bn)	2003  ($ bn)	Growth  (%)
India's exports	11.79	13.03	10.52
US' exports	3.68	4.37	18.75
India's trade surplus	8.11	8.66	6.78

India was ranked 24th on the list of countries with which the US had a trade deficit. Gems and jewellery remained India's main export items, cornering a 30.37 per cent share and growing by 8.2 per cent to $3.96 billion in 2003 compared with $3.66 billion in the previous year.

Textiles products, comprising apparel, made-ups, carpets and silk and cotton yarn, formed the second largest group of export items at $ 3.34 billion compared with $ 3.13 billion in 2002, and registering a 6.71 per cent growth. Within textiles, the export of products like cotton yarn and woven fabrics dipped.

The export of marine products rose 10.52 per cent to $424 million, while organic chemical exports were up by 31.8 per cent to $402 million in 2003 compared with $305 million in 2002.

On the imports front, nuclear reactor, boilers, machinery and mechanical appliances continued to be the top product category with a 19.25 per cent share. The import of these items was up by 8.31 per cent to $840.7 million in 2003 compared with $776.2 million in the previous year.