Growing for the third consecutive month, India’s merchandise exports rose 0.67 percent year-on-year to $27.93 billion in February 2021 over the same period of last year, following healthy growth in pharma and chemicals sectors. Trade deficit during the month widened to $12.62 billion from $ 10.16 billion in February 2020.
As per the data released by the Commerce Ministry, exports increased by 0.67% to $27.93 billion in February 2021, as compared to $27.74 billion in February 2020. In Rupee terms, exports were Rs 2, 03,201.56 crore in February 2021, as compared to Rs 1,98,328.86 crore in February 2020, registering a positive growth of 2.46%. Cumulative value of exports for the period April- February 2020-21 was $256.18 billion as against $291.87 billion during the period April- February 2019-20, registering a negative growth of 7.79%. Rupee terms, it was down by 7.79% to Rs 18,99,568.63 crore from Rs 20,60,069.56 crore in the corresponding month a year ago.
Non-petroleum and Non-Gems and Jewellery exports in February 2021 were $22.52 Billion, as compared to $21.28 Billion in February 2020, registering a positive growth of 5.84 percent. Non-petroleum and Non-Gems and Jewellery exports in April- February 2020-21 were $211.30 Billion, as compared to $219.22 Billion for the corresponding period in 2019-20, which is a decrease of 3.61 percent.
On the other hand, imports increased by 6.96% to $40.54 billion in February 2021 as compared to $37.90 billion in February 2020, while in rupee terms it was up by 8.86% to Rs 2,94,985.04 crore from Rs 2,70,973.39 crore in February 2020. Cumulative value of imports for the period April- February 2020-21 was $340.80 billion, as against $443.24 billion during the period April- February 2019-20, registering a negative growth of 23.11%. In rupee terms, it was Rs 25,24,727.09 crore, down by 19.26% from Rs 31,26,965.99 crore in the same period last year.
Oil imports in February 2021 were $8.99 billion, which was 16.63% lower, compared to $10.78 billion in February 2020. Oil imports in April- February 2020-21 were $72.08 billion which was 40.18% lower over the same period last year. Non-oil imports in February 2021 were estimated at $31.56 billion which was 16.34% higher, compared to $27.12 billion in February 2020. Non-oil imports in April- February 2020-21 were $268.72 billion which was 16.74% lower, compared to $322.74 billion in April- February 2019-20. Non-Oil and Non-Gold imports were $26.27 billion in February 2021, recording a positive growth of 6.07%, as compared to $24.76 billion in February 2020. Non-Oil and Non-Gold imports were $242.61 billion in April- February 2020-21, recording a negative growth of 17.96%, over the same period of last year.