India Foreign Trade reached estimated to USD 439.64 Billion April-Feb 2021
India’s overall exports (Merchandise and Services combined) in April-February 2020-21* are estimated to be USD 439.64 Billion, exhibiting a negative growth of (-) 10.14 per cent over the same period last year.
March 16, Delhi: Overall imports in April-February 2020-21* are estimated to be USD 447.44 Billion, exhibiting a negative growth of (-) 20.83 per cent over the same period last year.
I. MERCHANDISE TRADE
EXPORTS (including re-exports)
Exports in February 2021 were USD27.93Billion, as compared to USD 27.74 Billion in February 2020, exhibiting a positive growth of 0.67per cent. In Rupee terms, exports were Rs. 2,03,201.56Crore in February2021, as compared to Rs. 1,98,328.86Crore in February2020, registering a positive growth of 2.46per cent.
The commodities/commodity groups which have recorded positive growth during February 2021 vis-à-vis February 2020 areOther cereals (546.5%), Oil meals (245.45%), Iron ore (167.79%), Jute mfg. including floor covering (45.53%), Rice (30.78%), Meat, dairy & poultry products (26.43%), Cereal preparations & miscellaneous processed items (25.3%), Carpet (19.46%), Spices (18.61%), Drugs & pharmaceuticals (14.74%), Handicrafts excl. handmade carpet (13.23%), Ceramic products & glassware (11.04%), Cotton yarn/fabs./made-ups, handloom products etc. (9.41%), Tobacco (7.71%), Mica, Coal & other ores, minerals including processed minerals (4.38%), Plastic & Linoleum (3.16%) and Organic & inorganic Chemicals (1.2%).
The commodities/commodity groups which have recorded negative growth during February 2021 vis-à-vis February 2020 are Oil seeds (-25.19%), Leather & leather products (-21.62%), Petroleum products (-20.87%), Cashew (-18.62%), Gems & jewellery (-11.19%), RMG of all textiles (-8.5%), Electronic goods (-5.77%), Man-made yarn/fabs./made-ups etc. (-4.02%), Fruits & vegetables (-3.33%), Tea (-2.5%), Engineering goods (-2.36%), Coffee (-0.73%) and Marine products (-0.21%).
Cumulative value of exports for the period April-February 2020-21 was USD 256.18 Billion (Rs. 18,99,568.63 Crore) as against USD 291.87 Billion (Rs. 20,60,069.56 Crore) during the period April-February 2019-20, registering a negative growth of (-) 12.23 per cent in Dollar terms (negative growth of (-) 7.79 per cent in Rupee terms).
Non-petroleum and Non-Gems and Jewellery exports in February 2021 were USD 22.52 Billion, as compared to USD 21.28 Billion in February 2020, registering a positive growth of 5.84 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-February 2020-21 were USD 211.30 Billion, as compared to USD 219.22 Billion for the corresponding period in 2019-20, which is a decrease of (-) 3.61 per cent.
IMPORTS
Imports in February 2021 were USD40.54 Billion (Rs. 2,94,985.04 Crore), which is an increase of 6.96 per cent in Dollar terms and 8.86per cent in Rupee terms over imports of USD37.90 Billion (Rs 2,70,973.39 Crore) in February 2020. Cumulative value of imports for the period April-February 2020-21 was USD 340.80 Billion (Rs. 25,24,727.09 Crore), as against USD443.24 Billion (Rs. 31,26,965.99 Crore) during the period April-February 2019-20, registering a negative growth of (-) 23.11per cent in Dollar terms and negative growth of (-) 19.26 per cent in Rupee terms.
Major commodity groups of import showing negative growth in February 2021 over the corresponding month of last year are:
II. TRADE IN SERVICES
EXPORTS (Receipts)
As per the latest press release by RBI dated 15th March 2021, exports in January 2021 were USD 17.08 Billion (Rs.1,24,841.61Crore) registering a negative growth of (-) 10.06per cent in Dollar terms, vis-à-vis January 2020. The estimated value of services export for February 2021* is USD 17.29Billion.
IMPORTS (Payments)
As per the latest press release by RBI dated 15th March 2021, imports in January 2021were USD 10.10 Billion (Rs. 73,825.87 Crore) registering a negative growth of (-) 15.86 per cent in Dollar terms, vis-à-vis January 2020. The estimated value of services import for February 2021* is USD 10.36 Billion.
III.TRADE BALANCE
MERCHANDISE: The trade deficit for February 2021 was estimated at USD12.62 Billion as against the deficit of USD10.16 Billion in February 2020, which is an increase of 24.14 per cent.
SERVICES: As per RBI’s Press Release dated 15th March 2021, the trade balance in Services (i.e. Net Services export) for January 2021is USD 6.98 Billion. The estimated trade balance in February 2021* is USD 6.94 Billion.
OVERALL TRADE BALANCE: Taking merchandise and services together, the overall trade deficit for April-February 2020-21* is estimated at USD 7.80 Billion as compared to the deficit of USD 75.90 Billion in April-February 2019-20.
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