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India’s trade deficit up by 41.4% to touch $14.11 billion as compared to $9.98 billion in March 2020

India’s merchandise exports in March 2021 touched $34.0 billion compared to $21.49 billion in March 2020, registering a growth of 58.23%, states a report released by the Ministry of Commerce and Industry

India’s merchandise imports in March 2021 touched $48.12 billion as compared to $31.47 billion in March 2020 an increase of 52.89%.

India is a net importer in March 2021 with a trade deficit of $14.11 billion as compared to a trade deficit of $9.98 billion in March 2020, registering a growth of 41.4%.

Non-gems and jewellery

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

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

The top 5 commodity groups of export that 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%).

Merchandise exports

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

India’s merchandise imports in March 2021were $48.12 billion as compared to $31.47 billion in March 2020, an increase of 52.89%. Merchandise imports during April-March 2020-21 were $388.92 billion, as compared to $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 $14.11 billion, as compared to a trade deficit of $9.98 billion, an improvement by 41.4%.

Non-petroleum exports

In March 2021, the value of non-petroleum exports was $30.79 billion as compared to $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 $27.25 billion, as compared to USD 16.95 billion in March 2020, registering a positive growth of 60.72%.

The cumulative value of non-petroleum and non-gems and jewellery exports in April-March2020-21 was $238.54billion, as compared to $236.17 billion for the corresponding period in 2019-20, exhibiting a growth of 1.0%.

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

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

Non-oil, non-GJ imports

Non-oil, non-GJ (gold, silver &Precious metals) imports were $27.01 billion in March 2021, recording a positive growth of 44.45%, as compared to non-oil and non-GJ imports of $18.70 billion in March 2020.

Non-oil and non-GJ imports were $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 $290.74 billion in April-March 2019-20.

Major commodities of export that 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%).

Minerals, ores

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 manufacture (18.27%), Tobacco (15.5%), and Tea (7.73%).

The remaining two commodities of which export 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 and made-up articles (92.11%).

Also, 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%) and Iron & Steel (55.28%).

Negative growth

Major commodity groups which registeed growth also include 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 and 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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