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INDIA’S MERCHANDISE TRADE: Preliminary Data March 2022

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Shri Vaibhavi Logistics

India achieves an all-time high annual merchandise exports, touching USD 417.81 billion in FY 2021-22, an increase of 43.18% over USD 291.81 billion in previous fiscal.For the first time, monthly merchandise exports exceed USD 40 Billion, reaching USD 40.38 billion in March 2022, an increase of 14.53% over March 2021

NEW DELHI : India achieved an all-time high annual merchandise exports of USD 417.81 billion in FY 2021-22, an increase of 43.18% over USD 291.81 billion in FY2020-21 and an increase of 33.33% over USD 313.36 billion in FY2019-20.

For the first time, India’s monthly merchandise exports exceeded USD 40 Billion, reaching USD 40.38 billion in March 2022, an increase of 14.53% over USD 35.26 billion in March 2021 and an increase of 87.89% over USD 21.49 billion in March 2020.

India’s merchandise import in March 2022 was USD 59.07 billion, an increase of 20.79% over USD 48.90 billion in March 2021 and an increase of 87.68% over USD 31.47 billion in March 2020.

India’s merchandise import in April 2021-March 2022 was USD 610.22 billion, an increase of 54.71% over USD 394.44 billion in April 2020-March 2021 and an increase of 28.55% over USD 474.71 billion in April 2019-March 2020.

The trade deficit in March 2022 was USD 18.69 billion, while it was USD 192.41 billion during April 2021-March 2022.

Statement 1: India’s Total Trade in Merchandise goods in March2022
 Value in Billion USD% Growth
Mar-22Mar-21Mar-20Mar-22 over Mar-21Mar-22 over Mar-20
Exports40.3835.2621.4914.5387.89
Imports59.0748.9031.4720.7987.68
Deficit18.6913.649.9836.9787.23
Statement 2: India’s Total Trade in Merchandise goods in Apr 2021-Mar2022
 Value in Billion USD% Growth
Apr21-Mar22Apr20-Mar21Apr19-Mar20Apr21-Mar22 over Apr20-Mar21Apr21-Mar22 over Apr19-Mar20
Exports417.81291.81313.3643.1833.33
Imports610.22394.44474.7154.7128.55
Deficit192.41102.63161.3587.4919.25

Value of non-petroleum exports in March 2022 was 33.00 USD billion, registering a positive growth of 4.28% over non-petroleum exports of USD 31.65 billion in March 2021 and a positive growth of 73.94% over non-petroleum exports of USD 18.97 billion in March 2020.

Value of non-petroleum imports was USD 40.66 billion in March 2022 with a positive growth of 5.26% over non-petroleum imports of USD 38.63 billion in March 2021 and a positive growth of 89.79% over non-petroleum imports of USD 21.42 billion in March 2020.

Statement 3: Merchandise Non-POL Trade in March 2022
 Value in Billion USD% Growth
 Mar-22Mar-21Mar-20Mar-22 over Mar-21Mar-22 over Mar-20
Exports33.0031.6518.974.2873.94
Imports40.6638.6321.425.2689.79

The cumulative value of non-petroleum exports in April 2021-March 2022 was USD 352.76 billion, an increase of 32.62% over USD 266.00 billion in April 2020-March 2021 and an increase of 29.66% over USD 272.07 billion in April 2019-March 2020.

The cumulative value of non-petroleum imports in April 2021-March 2022 was USD 449.54 billion, showing an increase of 44.2% compared to non-oil imports of USD 311.75 billion in April 2020-March 2021 and an increase of 30.62% compared to non-oil imports of USD 344.16 billion in April 2019-March 2020.

Statement 4: Merchandise Non-POL Trade Apr 2021-Mar 2022
 Value in Billion USD% Growth
 Apr21-Mar22Apr20-Mar21Apr19-Mar20Apr21-Mar22 over Apr20-Mar21Apr21-Mar22 over Apr19-Mar20
Exports352.76266.00272.0732.6229.66
Imports449.54311.75344.1644.2030.62

Value of non-petroleum and non-gems and jewellery exports in March 2022 was USD 29.38 billion, registering a positive growth of 4.79% over non-petroleum and non-gems and jewellery exports of USD 28.03 billion in March 2021 and a positive growth of 73.28% over non-petroleum and non-gems and jewellery exports of USD 16.95 billion in March 2020.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 36.18 billion in March 2022 with a positive growth of 31.21% over non-oil and non-GJ imports of USD 27.58 billion in March 2021 and a positive growth of 93.52% over non-oil and non-GJ imports of USD 18.70 billion in March 2020.

Statement 5: Merchandise Non-POL Non-GJ Trade in March 2022
 Value in Billion USD% Growth
 Mar-22Mar-21Mar-20Mar-22 over Mar-21Mar-22 over Mar-20
Exports29.3828.0316.954.7973.28
Imports36.1827.5818.7031.2193.52

The cumulative value of non-petroleum and non-gems and jewellery exports in April 2021-March 2022 was USD 313.82 billion, an increase of 30.77% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 239.98 billion in April 2020-March 2021 and an increase of 32.88% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 236.17 billion in April 2019-March 2020.

Non-oil, non-GJ (Gold, Silver & Precious Metals) imports was USD 369.19 billion in April 2021-March 2022, recording a positive growth of 43.39%, as compared to non-oil and non-GJ imports of USD 257.47 billion in April 2020-March 2021 and a positive growth of 26.98% over USD 290.74 billion in April 2019-March 2020.

Statement 6: Merchandise Non-POL Non-GJ Trade Apr 2021-Mar 2022
 Value in Billion USD% Growth
 Apr21-Mar22Apr20-Mar21Apr19-Mar20Apr21-Mar22 over Apr20-Mar21Apr21-Mar22 over Apr19-Mar20
Exports313.82239.98236.1730.7732.88
Imports369.19257.47290.7443.3926.98

Top 10 major commodity groups covering 81% of total exports in March 2022, are –

Statement 7: Exports of Top 10 Major Commodity Groups in March 2022
 Value of Export (Million US$)Share (%)Growth (%)
Major Commodity GroupMar-22Mar-21Mar-22Mar-22 over Mar-21
Engineering goods                                          10470.809298.3625.9312.61
Petroleum products                                         7377.073609.3618.27104.39
Gems and Jewellery                                         3624.343613.018.980.31
Organic and Inorganic chemicals                            2649.592288.876.5615.76
Drugs and Pharmaceuticals                                  2261.652295.055.60-1.46
Electronic goods                                           1740.561400.674.3124.27
RMG of all Textiles                                        1661.501425.954.1116.52
Cotton Yarn/Fabs./Madeups, Handloom products etc.          1290.261105.053.2016.76
Rice                                                       985.481116.542.44-11.74
Plastic and Linoleum                                       811.53719.542.0112.78
Total of 10 Major Commodity Groups32872.7826872.4081.4122.33
Rest7506.828384.2018.59-10.46
Total Exports40379.5935256.60100.0014.53

Top 10 major commodity groups covering 81% of total imports in March 2022, are – 

Statement 8: Imports of Top 10 Major Commodity Groups in March 2022
 Import (Million US$)Share (%)Growth (%)
Major Commodity GroupMar-22Mar-21Mar-22Mar-22 over Mar-21
Petroleum, Crude & products18406.9710271.3831.1679.21
Electronic goods8293.795864.1514.0441.43
Coal, Coke & Briquettes, etc.4390.951735.747.43152.97
Machinery, electrical & non-electrical3457.833513.685.85-1.59
Pearls, precious & Semi-precious stones3337.022547.275.6531.00
Organic & Inorganic Chemicals2720.912102.574.6129.41
Transport equipment1993.642210.753.38-9.82
Artificial resins, plastic materials, etc.1861.931719.923.158.26
Vegetable Oil1674.591076.812.8455.51
Fertilisers, Crude & manufactured1615.96204.162.74691.50
Total of 10 Major Commodity Groups47753.5931246.4280.8552.83
Rest11312.3717652.4419.15-35.92
Total Imports59065.9648898.86100.0020.79

Top 10 major commodity groups covering 80% of total exports in April 2021-March 2022, are – 

Statement 9: Exports of Top 10 Major Commodity Groups in April 2021-March 2022
 Value of Export (Million US$)Share (%)Growth (%)
Major Commodity GroupApr21-Mar22Apr20-Mar21Apr21-Mar22Apr21-Mar22 over Apr20-Mar21
Engineering goods                                          111632.9476719.6026.7245.51
Petroleum products                                         65044.8025804.3715.57152.07
Gems and Jewellery                                         38942.8826022.829.3249.65
Organic and Inorganic chemicals                            29152.6722088.486.9831.98
Drugs and Pharmaceuticals                                  24475.3624444.035.860.13
RMG of all Textiles                                        15936.7012272.213.8129.86
Electronic goods                                           15588.0611093.293.7340.52
Cotton Yarn/Fabs./Madeups, Handloom products etc.          15244.209827.893.6555.11
Plastic and Linoleum                                       9783.357462.852.3431.09
Rice                                                       9625.508829.212.309.02
Total of 10 Major Commodity Groups335426.46224564.7580.2849.37
Rest82382.7567243.7319.7222.51
Total Exports417809.21291808.48100.0043.18

Top 10 major commodity groups covering 77% of total imports in April 2021-March 2022, are – 

Statement 10: Imports of Top 10 Major Commodity Groups in April 2021-March 2022
 Import (Million US$)Share (%)Growth (%)
Major Commodity GroupApr21-Mar22Apr20-Mar21Apr21-Mar22Apr21-Mar22 over Apr20-Mar21
Petroleum, Crude & products160683.2482683.8726.3394.33
Electronic goods73067.9054287.9311.9734.59
Gold46140.6634603.927.5633.34
Machinery, electrical & non-electrical39853.0830084.486.5332.47
Coal, Coke & Briquettes, etc.31514.9716274.535.1693.65
Pearls, precious & Semi-precious stones30927.8218887.965.0763.74
Organic & Inorganic Chemicals30222.8619825.354.9552.45
Transport equipment20206.0718649.183.318.35
Artificial resins, plastic materials, etc.20104.9613510.013.2948.82
Vegetable Oil18931.5111089.113.1070.72
Total of 10 Major Commodity Groups471653.07299896.3377.2957.27
Rest138568.3594539.5422.7146.57
Total Imports610221.42394435.87100.0054.71
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