India’s merchandise exports up 46% in August to $33.28 billion

NEW DELHI : The country’s merchandise exports rose nearly 46% to $33.28 billion in August, the data from the Ministry of Commerce & Industry showed on Tuesday.

Cumulative value of exports for the period April-August 2021 expanded by 67.33% to $164.10 billion, compared to $98.06 billion in the year-ago period.

“Exports in August 2021 were $33.28 billion, as compared to $22.83 billion in August 2020, exhibiting a positive growth of 45.76%. As compared to August 2019, exports in August 2021 exhibited a positive growth of 28.03% in Dollar terms and 33.50% in Rupee terms,” an official release said.

Exports were led by robust growth in petroleum products, gems and jewellery, chemicals, engineering goods, and electronic goods.

“The commodities, which have recorded positive growth during August this year vis-à-vis August last year are – Petroleum products (144.6%), Gems and jewellery (88.3%), Engineering goods (59.01%), Cotton yarn/fabs./made-ups, handloom products etc. (55.84%), Man-made yarn/fabs./made-ups etc. (51.71%), Marine products (50.7%), Coffee (42.31%), Mica, Coal and other ores, minerals including processed minerals (38.56%), Organic and inorganic chemicals (35.94%), Electronic goods (31.67%), Jute mfg. including floor covering (25.3%), Handicrafts excl. handmade Carpet (24.67%), Ceramic products and glassware (18.07%), Plastic and Linoleum (16.33%), RMG of all textiles (14.15%), Cashew (12.58%), Cereal preparations and miscellaneous processed items (12.19%), Fruits and Vegetables (10.13%), Tea (8.55%), Leather and leather products (8.37%), Carpet (6.93%), Rice (6.78%), Drugs & Pharmaceuticals (1.36%) and Spices (0.23%),” the statement added.

Asia’s third largest economy imported goods worth $47.09 billion in August, a rise of 51.72% year-on-year, the data showed.

Trade deficit in August widened to $13.81 billion as against $8.2 billion in the same month last year.

Source : Financial Express