Q1 - India exported goods & services worth USD 101 bn
By TIOL News Service
NEW DELHI, JULY 16, 2020: INDIA'S overall exports (Merchandise and Services combined) in April-June 2020-21 are estimated to be USD 101.02 billion, exhibiting a negative growth of (-)25.92 per cent over the same period last year. Overall imports in April-June 2020-21 are estimated to be USD 89.31 billion, exhibiting a negative growth of (-)45.10 per cent over the same period last year.
I. MERCHANDISE TRADE
EXPORTS (including re-exports)
- Exports in June 2020 were USD21.91 billion, as compared to USD 25.01 billion in June 2019, exhibiting a negative growth of (-)12.41 per cent. In Rupee terms, exports were Rs. 1,65,898.85 crore in June 2020, as compared to Rs. 1,73,682.55 crore in June 2019, registering a negative growth of (-) 4.48 per cent.
- Major commodity groups which have recorded positive growth during June 2020 vis-à-vis June 2019 are Iron Ore (63.11%), Oil seeds (50.48%), Rice (32.72%), Oil meals (27.36%), Spices (22.92%), Other cereals (19.35%), Organic & inorganic chemicals (19.06%), Cereal preparations & miscellaneous processed items (13.8%), Fruits & vegetables (11.01%), Drugs & pharmaceuticals (9.89%), Tobacco (3.56%) and Coffee (2.58%).
- Major commodity groups which have recorded negative growth during June 2020 vis-à-vis June 2019 are Gems & jewellery (-50.06%), Leather & leather products (-40.47%), RMG of all textiles (-34.84%), Man-made yarn/fabs./made-ups etc. (-31.98%), Petroleum products (-31.65%), Cashew (-27.02%), Meat, dairy & poultry products (-25.88%), Handicrafts excl. hand-made carpet (-23.95%), Electronic goods (-22.52%), Jute mfg. including floor covering (-14.06%), Ceramic products & glassware (-10.91%), Carpet (-10.46%), Marine products (-9.74%), Tea (-8.01%), Engineering goods (-7.5%), Plastic & Linoleum (-4.4%), Cotton yarn/fabs./made-ups, handloom products etc. (-3.83%) and Mica, Coal & other ores, minerals including processed minerals (-1.13%).
- Cumulative value of exports for the period April-June 2020-21 was USD 51.32 billion (Rs.3,89,016.27 crore) as against USD 81.08 billion (Rs.5,63,984.51crore) during the period April-June 2019-20, registering a negative growth of (-)36.71per cent in Dollar terms (negative growth of (-)31.02per cent in Rupee terms).
- Non-petroleum and Non-Gems and Jewellery exports in June 2020 were USD 18.48 billion, as compared to USD 19.15 billion in June 2019, exhibiting a negative growth of (-) 3.51per cent. Non-petroleum and Non-Gems and Jewellery exports in April-June 2020-21 were USD 43.91 billion, as compared to USD 60.10 billion for the corresponding period in 2019-20, a decrease of (-) 26.94 per cent.
IMPORTS
- Imports in June 2020 were USD 21.11 billion (Rs.1,59,892.42 crore), which was 47.59 per cent lower in Dollar terms and 42.85 per cent lower in Rupee terms over imports of USD 40.29 billion (Rs 2,79,771.07 crore) in June 2019. Cumulative value of imports for the period April-June 2020-21 was USD 60.44 billion (Rs. 4,58,395.18 crore), as against USD 127.04 billion (Rs. 8,83,652.93 crore) during the period April-June 2019-20, registering a negative growth of (-)52.43 per cent in Dollar terms (negative growth of (-)48.12 per cent in Rupee terms).
II. TRADE IN SERVICES
EXPORTS (Receipts)
- As per the latest press release by RBI dated 15 th July 2020, exports in May 2020 were USD 16.77 billion (Rs. 1,26,851.39 crore) registering a negative growth of (-) 10.24 per cent in dollar terms, vis-à-vis May 2019. The estimated value of services export for June2020 is USD 16.48 billion.
IMPORTS (Payments)
- As per the latest press release by RBI dated 15 th July 2020, imports in May 2020 were USD 9.94 billion (Rs. 75,190.81 crore) registering a negative growth of (-)20.45 per cent in dollar terms, vis-à-vis May 2019. The estimated value of service import for June 2020* is USD 9.64 billion.
III.TRADE BALANCE
- MERCHANDISE: The trade surplus for June 2020 was estimated at USD 0.79 billion as against the deficit of USD 15.28 billion in June 2019. This is the first time in the last decade that India is a net exporter.
- SERVICES : As per RBI's Press Release dated 15 th July 2020, the trade balance in Services (i.e. Net Services export) for May 2020 is estimated at USD 6.83 billion.
- OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-June 2020-21* is estimated at USD 11.70 billion as compared to the deficit of USD 26.32 billion in April-June 2019-20.
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