India's exports grow by 58.23% in March, cross $ 34 billion for first time ever

India's exports grow by 58.23% in March, cross $ 34 billion for first time ever

New Delhi, April 1, 2021

India's merchandise exports crossed $ 34.0 billion for the first time ever in March this year, an increase of 58.23 per cent over the level of $ 21.49 billion registered in the same month last year.

Preliminary data for March 2021 released here today showed the total exports during April-March 2020-21 were $ 290.18 billion, as compared to $ 313.36 billion in the previous year, a decline of 7.40%.

An official press release, citing the data, said India’s merchandise imports in March 2021were $ 48.12 billion as compared to $ 31.47 billion in the same month of the previous year, an increase of 52.89%.

Merchandise imports during April-March 2020-21 were $ 388.92 billion, as compared to $ 474.71 billion during the previous year, showing a fall of 18.07%.

India is thus a net importer in March 2021, with a trade deficit of $ 14.11 billion, as compared to trade deficit of $ 9.98 billion, an increase of 41.4%.

In March 2021, the value of non-petroleum exports was $ 30.79 billionas 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 $ 16.95 billion in March 2020, registering a positive growth of 60.72%. The cumulative value of non-petroleum and non-gems and jewellery (GJ) exports in April-March 2020-21 was $ 238.54 billion, 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 of 1.22%. Oil imports in April-March 2020-21 were $ 82.25 billion, as compared to $ 130.55 billion, showing a decline of 37.0%.

Non-oil imports in March 2021 are 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 (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 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%).

Two commodities of which exports have recorded negative growth during March 2021 vis-à-vis March 2020 are Oilseeds (-6.6%), and Cashew (-1.95%).

Major commodity groups of import showing an increase 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%), Medicinal & 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%).

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