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FIRST TIME EVER IN A MONTH, INDIAN EXPORTS CROSSED US$ 34 BILLION IN MARCH 2021;

INDIA’S MERCHANDISE TRADE: Preliminary Data for March 2021 released;

India’s merchandise exports in March 2021 were USD 34.0 billionas compared to USD 21.49 billion in March 2020, anincrease of 58.23%;

India’s merchandise imports in March 2021 were USD 48.12 billion as compared to USD 31.47 billion in March 2020an increase of 52.89%;

India is a net importer in March 2021 with a trade deficit of USD 14.11 billion as compared to trade deficit of USD 9.98 billion in March 2020,increased by 41.4%;

Value of non-petroleum and non-gems and jewellery exports in March 2021 was USD 27.25 billion as compared to USD 16.95 billion in March 2020, a positive growth of 60.72%;

Non-oil, non-GJ (gold, silver & Precious metals) imports were USD 27.01 billion in March 2021 as compared to non-oil and non-GJ imports of USD 18.70 billion in March 2020, also apositive growth of 44.45%;

Top 5 commodity groups of export which recorded positive growth during March 2021 vis-à-vis March 2020 are: Other Cereals (323.65%), Oil Meals (228.4%), Iron Ore (194.98%), Jute Manufacturing Including Floor Covering(105.19%), and Carpet(89.86%);

Top 5 commodity groups of import showing a fall in March 2021vis-à-vis March 2020 are: Silver (-90.22%), Newsprint (-50.66%), Transport equipment (-32.73%), Project goods (-32.56%), and Pulses (-13.88%).

India’s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, anincrease of 58.23%.Exports during April-March2020-21 were USD 290.18 billion, as compared to USD 313.36 billion during the same period of last year, exhibiting a negative growth of 7.40%.

India’s merchandise imports in March 2021were USD 48.12 billion as compared to USD 31.47 billion in March 2020, anincrease of 52.89%. Merchandise imports during April-March 2020-21 were USD 388.92 billion, as compared to USD 474.71 billion during the same period of last year, exhibiting a negative growth of 18.07%.

 

India is thus a net importer in March 2021, with a trade deficit of USD 14.11 billion, as compared to trade deficit of USD 9.98 billion, improvement by 41.4%.

In March 2021, the value of non-petroleum exports was USD 30.79 billionas compared to USD 18.97 billion in March 2020, registering a positive growth of 62.3%. The value of non-petroleum and non-gems and jewellery exports in March 2021 was USD 27.25 billion, as compared to USD 16.95 billion in March 2020, registering a positivegrowth of 60.72%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-March2020-21 was USD 238.54billion, as compared to USD 236.17 billion for the corresponding period in 2019-20, exhibiting a growth of 1.0%.

In March 2021, Oil imports were USD 10.17 billion, as compared to USD 10.05 billion in March 2020, a growth of1.22%. Oil imports in April-March2020-21 were USD 82.25 billion, as compared to USD 130.55 billion, showing a decline of 37.0%.

Non-oil imports in March 2021are estimated at USD 37.95 billion, as compared to USD 21.42 billion in March 2020, showing anincrease of 77.12%. Non-oil imports in April-March2020-21 were USD 306.67 billion, as compared to USD 344.16 billion, registering a decline of 10.89% during the same period of the last year.

Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 27.01 billion in March 2021, recording a positive growth of 44.45%, as compared to non-oil and non-GJ imports of USD 18.70 billion in March 2020. Non-oil and non-GJ imports were USD 252.50 billion in April-March 2020-21, recording a negative growth of 13.15%, as compared to non-oil and non-GJ imports of USD 290.74 billion in April-March 2019-20.

Major commodities of export which have recorded positive growth during March 2021 vis-à-vis March 2020 are: Other cereals (323.65%), Oil meals (228.40%), Iron ore (194.98%), Jute mfg. Including floor covering (105.19%),Carpet (89.86%), Electronic Goods (88.69%), Gems and Jewellery (75.57%), Engineering goods (70.28%), Cereal preparations and miscellaneous processed item (67.08%), Rice (65.23%), Spices (59.04%), Cotton yarn/fabrics/made-ups, handloom products etc. (55.43%), Meat, dairy and poultry products (52.84%),Ceramic products and glassware (52.57%), Drugs and pharmaceuticals (47.37%), Organic and Inorganic Chemicals (45.18%), Plastic and linoleum (45.12%), Handicrafts excl. Hand-made carpet (42.59%),Marine products (40.80%),Man-made yarn/fabrics/made-ups etc. (30.69%), Mica, coal and other ores, minerals including process (30.29%),Petroleum products (27.49%), RMG of All Textiles (27.35%), Coffee (23.31%), Fruits and vegetables (22.98%), Leather and leather manufactures (18.27%), Tobacco (15.5%), and Tea (7.73%).

Remaining two commodities of whichexport have recorded negative growth during March 2021 vis-à-vis March 2020 are Oil Seeds (-6.6%), and Cashew (-1.95%).

Major commodity groups of import showing positive growth in March 2021 over the corresponding month of last year are: Gold (584.21%), Sulphur & Unroasted Iron Pyrites (464.22%), Dyeing/tanning/colouring materials (106.87%), Textile yarn Fabric, made-up articles (92.11%), Chemical material & products (82.62%), Artificial resins, plastic materials, etc. (81.66%),Pearls, precious & Semi-precious stones (80.25%),Electronic goods (76.66%), Metaliferrous ores & other minerals (72.03%), Non-ferrous metals (71.32%), Wood & Wood products (70.43%), Professional instrument, Optical goods, etc. (61.66%), Machinery, electrical & non-electrical (59.92%), Vegetable Oil (58.02%), Iron & Steel (55.28%), Organic & Inorganic Chemicals (55.07%), Medcnl. & Pharmaceutical products (52.32%), Machine tools (43.12%), Leather & leather products (33.52%),Pulp and Waste paper (32.78%),Fruits & vegetables (22.29%),Coal, Coke & Briquettes, etc. (7.22%),Cotton Raw & Waste (3.79%),Petroleum, Crude & products (1.22%).

Major commodity groups of import showing negative growth in March 2021 over the corresponding month of last year are: Silver (-90.22%), Newsprint (-50.66%), Transport equipment (-32.73%), Project Goods (-32.56%), and Pulses (-13.38%), and Fertilizers, Crude & manufactured (-5.57%).

MERCHANDISE TRADE: Preliminary Data, March 2021

Summary Value in USD Billion

Total

Non-Petroleum

Non- Petroleum and Non-Gems &Jewellery

2019-20

2020-21

% change

2019-20

2020-21

% change

2019-20

2020-21

% change

Exports

21.49

34.00

58.23

18.97

30.79

62.30

16.95

27.25

60.72

Imports

31.47

48.12

52.89

21.42

37.95

77.12

18.70

27.01

44.45

Deficit

-9.98

-14.11

41.40

-2.45

-7.15

191.85

-1.74

0.24

-113.77

                     

Change by top Commodity Groups

Value in USD Million

Top Increase in March 2021 as compared to March 2020
 

Top Decline in March 2021 as compared to March 2020
 

Commodity group

Change in value

% change

Commodity group

Change in value

% change

Export

ENGINEERING GOODS

3819.97

70.28

OIL SEEDS

-7.60

-6.60

GEMS AND JEWELLERY

1525.94

75.57

CASHEW

-0.80

-1.95

DRUGS AND PHARMACEUTICALS

732.28

47.37

 

Import

GOLD

7173.48

584.21

TRANSPORT EQUIPMENT

-840.53

-32.73

ELECTRONIC GOODS

2538.99

76.66

SILVER

-87.69

-90.22

MACHINERY, ELECTRICAL & NON-ELECTRICAL

1314.53

59.92

PROJECT GOODS

-31.92

-32.56

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