On the other hand, the country is the 12th largest importer with a share of 2.5 per cent in 2011.
"As per WTO's International Statistics, 2012, in merchandise trade, India is 19th largest exporter in the world with a share of 1.7 per cent and 12th largest importer with a share of 2.5 per cent in 2011," Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
In commercial services, the country is the eighth largest exporter in the world with a share of 3.3 per cent and the seventh largest importer with a share of 3.1 per cent, he said.
Due to the global demand slowdown, the country's overseas shipment during the April-January period of 2012-13 shrunk by 4.86 per cent to $ 239.6 billion.
The Minister said that exports played an important role in the economic development of countries and the government has regularly undertaken various policy measures to boost exports.
Recently, the government has extended a 2 per cent interest subsidy scheme for labour intensive sectors till March 2014, he said. "Increase in exports generates more employment in the country," he added.