Finance
By: Shree1news, 01 APR 2021India’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 | |
Source:PIB
