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India’s overall exports rise by 22.8%, imports up by 48.54% over last November

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NEW DELHI : India’s overall exports in first 8 months of current FY (April-November 2021) jumped by 37.21%, imports shot up by 61.02% over the same period last year, (Merchandise and Services combined) in November 2021* are estimated to be USD 50.36 Billion, exhibiting a positive growth of 22.80 per cent over the same period last year and a positive growth of 15.53 per cent over November 2019. Overall imports in November 2021* are estimated to be USD 64.75 Billion, exhibiting a positive growth of 48.54 per cent over the same period last year and a positive growth of 30.90 per cent over November 2019

Table 1: Trade during November 2021*

  November 2021(USD Billion)November 2020(USD Billion)November 2019(USD Billion)Growth vis-à-vis November 2020 (%)Growth vis-à-vis November 2019 (%)
MerchandiseExports30.0423.6225.7727.1616.55
Imports52.9433.8138.5256.5837.44
Trade Balance-22.91-10.19-12.75-124.77-79.65
Services*Exports20.3317.3917.8216.8814.06
Imports11.819.7810.9420.717.90
Net of Services8.527.616.8811.9523.84
Overall Trade (Merchandise+Services)*Exports50.3641.0143.5922.8015.53
Imports64.7543.5949.4748.5430.90
Trade Balance-14.39-2.58-5.87-457.27-145.04
 Note: The latest data for services sector released by RBI is for October 2021. The data for November 2021 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for 2019, 2020 and April to June 2021 are revised on pro-rata basis using quarterly balance of payments data.

India’s overall exports (Merchandise and Services combined) in April-November 2021* are estimated to be USD 418.74 Billion, exhibiting a positive growth of 37.21 per cent over the same period last year and a positive growth of 19.13 per cent over April-November 2019. Overall imports in April-November 2021* are estimated to be USD 472.95 Billion, exhibiting a positive growth of 61.02 per cent over the same period last year and a positive growth of 15.39 per cent over April-November 2019.

Table 2: Trade during April-November 2021*

  April-November 2021(USD Billion)April-November 2020(USD Billion)April-November 2019(USD Billion)Growth vis-à-vis April-November 2020 (%)Growth vis-à-vis April-November 2019 (%)
MerchandiseExports263.57174.16211.1751.3424.82
Imports384.34219.82324.5974.8418.41
Trade Balance-120.76-45.66-113.42-164.49-6.47
Services*Exports155.17131.02140.3218.4310.58
Imports88.6173.8985.2619.923.92
Net of Services66.5657.1355.0616.5020.88
Overall Trade (Merchandise+Services)*Exports418.74305.19351.4937.2119.13
Imports472.95293.71409.8561.0215.39
Trade Balance-54.2111.47-58.36-572.437.12

* Note: The latest data for services sector released by RBI is for October 2021. The data for November 2021 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for 2019, 2020 and April to June 2021 are revised on pro-rata basis using quarterly balance of payments data.

Fig 2: Overall Trade during April-November 2021*

  • Non-petroleum and non-gems & jewellery exports during April-November 2021 was USD 199.67 Billion, an increase of 38.08 per cent over non-petroleum and non-gems & jewellery exports of USD 144.60 Billion in April-November 2020 and an increase of 27.11 per cent over non-petroleum and non-gems & jewellery exports of USD 157.09 Billion in April-November 2019.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 227.96 Billion in April-November 2021, recording a positive growth of 48.89 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 153.11 Billion in April-November 2020 and a positive growth of 13.48 per cent over USD 200.89 Billion in April-November 2019.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-November 2021

 April-November 2021(USD Billion)April-November 2020(USD Billion)April-November 2019(USD Billion)Growth vis-à-vis April-November 2020 (%)Growth vis-à-vis April-November 2019 (%)
Non- petroleum exports225.59158.91182.6641.9623.50
Non- petroleum imports282.25175.50238.6060.8318.29
Non-petroleum & Non Gems & Jewellery exports199.67144.60157.0938.0827.11
Non-petroleum & Non Gems & Jewellery imports*227.96153.11200.8948.8913.48

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems &Jewellery during April-November 2021

SERVICES TRADE

  • The estimated value of services export for November 2021* is USD 20.33 Billion, exhibiting a positive growth of 16.88 per cent vis-a-vis November 2020 (USD 17.39 Billion) and a positive growth of 14.06 per cent vis-à-vis November 2019 (USD 17.82 Billion).
  • The estimated value of services import for November 2021* is USD 11.81 Billion exhibiting a positive growth of 20.71 per cent vis-à-vis November 2020 (USD 9.78 Billion) and a positive growth of 7.90 per cent vis-à-vis November 2019 (USD 10.94 Billion).
  • The services trade balance in November 2021* is estimated at USD 8.52 Billion, which is an increase of 11.95 per cent over November 2020 (USD 7.61 Billion) and an increase of 23.84 per cent over November 2019 (USD 6.88 Billion).

Fig 7: Services Trade during November 2021*

  • The estimated value of services export for April-November 2021* is USD 155.17 Billion, exhibiting a positive growth of 18.43 per cent vis-a-vis April-November 2020 (USD 131.02 Billion) and a positive growth of 10.58 per cent vis-à-vis April-November 2019 (USD 140.32 Billion).
  • The estimated value of services imports for April-November 2021* is USD 88.61 Billion exhibiting a positive growth of 19.92 per cent vis-à-vis April-November 2020 (USD 73.89 Billion) and a positive growth of 3.92 per cent vis-à-vis April-November 2019 (USD 85.26 Billion).
  • The services trade balance for April-November 2021 was estimated at USD 66.56 Billion as against USD 57.13 Billion in April-November 2020, which is an increase of 16.50 per cent. As compared to April-November 2019 (USD 55.06 Billion), net of services in April-November 2021 exhibited a positive growth of 20.88 per cent.

Fig 8: Services Trade during April-November 2021*

Table 5: Export Growth in Commodity Groups in November 2021

Sl. No.Commodities(Values in Million USD)% Change
NOV’20NOV’21NOV’21
 Commodity groups exhibiting positive growth
1Petroleum Products1557.363959.13154.22
2Coffee45.0875.3467.12
3Plastic & Linoleum507.25724.3942.81
4Cotton Yarn/Fabs./made-ups, Handloom Products etc.872.551227.8340.72
5Engineering Goods5896.678077.4636.98
6Other cereals63.2185.4235.14
7Organic & Inorganic Chemicals1694.922246.5032.54
8Leather & leather products273.30356.5630.47
9Jute Mfg. including Floor Covering32.7642.6330.11
10Electronic Goods1121.171455.5829.83
11Marine Products586.64754.0028.53
12Man-made Yarn/Fabs./made-ups etc.340.54428.3625.79
13Mica, Coal & Other Ores, Minerals including processed minerals326.82394.4920.71
14Rice563.72658.9016.89
15Fruits & Vegetables161.80186.5815.31
16Cereal preparations & miscellaneous processed items154.88163.845.79
17RMG of all Textiles1043.751072.172.72
18Spices313.86317.721.23
19Carpet146.95148.631.15
Sl. No.Commodities(Values in Million USD)% Change
NOV’20NOV’21NOV’21
 Commodity Groups exhibiting negative growth
20Iron Ore328.5823.05-92.98
21Oil Meals140.15104.39-25.51
22Tobacco76.6962.72-18.21
23Tea71.6162.58-12.62
24Oil seeds153.22135.69-11.44
25Gems & Jewellery2690.832392.20-11.10
26Handicrafts excl. hand made carpet173.38159.71-7.89
27Drugs & Pharmaceuticals1963.401825.36-7.03
28Ceramic products & glassware263.48251.09-4.70
29Meat, dairy & poultry products392.59379.06-3.45
30Cashew37.7236.91-2.15

Table 6: Import Growth in Commodity Groups in November 2021

Sl. No.Commodities(Values in Million USD)% Change
NOV’20NOV’21NOV’21
 Commodity Groups exhibiting positive growth
1Silver9.27244.562538.19
2Sulphur & Unroasted Iron Pyrts9.3247.87413.63
3Coal, Coke & Briquettes, etc.1517.083577.42135.81
4Petroleum, Crude & products6314.8114677.80132.43
5Metaliferrous ores & other minerals434.15963.15121.85
6Pulp and Waste paper67.22148.30120.62
7Project goods64.79122.3388.81
8 Vegetable Oil981.381754.9278.82
9Organic & Inorganic Chemicals1515.512523.9166.54
10Newsprint14.8424.7066.44
11Artificial resins, plastic materials, etc.1156.631859.0060.73
12Fertilisers, Crude & manufactured898.161442.4060.59
13Dyeing/tanning/colouring mtrls.233.84359.9853.94
14Leather & leather products45.1168.2251.23
15Iron & Steel986.141485.8150.67
16Gold3022.594221.6639.67
17Cotton Raw & Waste18.9426.1738.17
18Medcnl. & Pharmaceutical products534.89735.7037.54
19Wood &  Wood products361.92487.6334.73
20Machine tools248.17333.3034.30
21Non-ferrous metals1154.691521.1631.74
22Textile yarn Fabric, made-up articles139.91181.8429.97
23Machinery, electrical & non-electrical2568.893274.3127.46
24Pulses223.42275.9923.53
25Electronic goods4695.065714.6821.72
26Chemical material & products785.06912.5816.24
27Professional instrument, Optical goods, etc.374.05413.4310.53
28Pearls, precious & Semi-precious stones1839.141978.677.59
Sl. No.Commodities(Values in Million USD)% Change
NOV’20NOV’21NOV’21
 Commodity Groups exhibiting negative growth
29Transport equipment1682.441357.83-19.29
30Fruits & vegetables303.12258.56-14.70

Table 7: MERCHANDISE TRADE

EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
 NOVEMBERAPRIL-NOVEMBER
EXPORTS(including re-exports)  
2019-201,84,142.2714,84,386.50
2020-211,75,306.7812,99,725.47
2021-222,23,755.7819,53,860.28
%Growth 2021-22/ 2020-2127.6450.33
%Growth 2021-22/ 2019-2021.5131.63
IMPORTS  
2019-202,75,255.2022,80,659.04
2020-212,50,954.1616,40,286.15
2021-223,94,419.5828,50,142.12
%Growth 2021-22/ 2020-2157.1773.76
%Growth 2021-22/ 2019-2043.2924.97
TRADE BALANCE  
2019-20-91,112.93-7,96,272.55
2020-21-75,647.38-3,40,560.67
2021-22-1,70,663.80-8,96,281.84

Table 8: SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion) 
(PROVISIONAL)October 2021April-October 2021
EXPORTS (Receipts)19.85134.84
IMPORTS (Payments)11.6176.80
TRADE BALANCE8.2458.04
   
EXPORTS & IMPORTS (SERVICES): (Rs. Crore) 
(PROVISIONAL)October 2021April-October 2021
EXPORTS (Receipts)1,48,669.419,98,707.75
IMPORTS (Payments)86,939.215,68,891.46
TRADE BALANCE61,730.214,29,816.29
Source: RBI Press Release dated 1stDecember 2021
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