Indian Exports Registers Record Growth Of 58.23% To Cross $34 Billion In March 2021

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

Change by top Commodity Groups

Value in USD Million