India's exports grow 49.85% to $35.43 billion in July
New Delhi, August 14, 2021
India's merchandise exports grew by 49.85 per cent to $ 35.43 billion in July 2021 as compared to $ 23.64 billion in the same month of last year, official data released here on Friday showed.
An official press release said that, in rupee terms, the exports were Rs. 2,64,033.76 crore in July 2021, as compared to Rs. 1,77,305.79 crore in July 2020, up 48.91%.
As compared to July 2019, exports in July 2021 exhibited a growth of 35.05% in dollar terms and 46.27% in rupee terms, it said.
Commodities and commodity groups which recorded positive growth during July 2021 vis-à-vis July 2020 are Petroleum products (230.98%), Gems & Jewellery (130.5%), Other Cereals (108.86%), Man-made yarn/fabrics/made-ups etc. (58.93%), Cotton yarn/fabrics/made-ups, Handloom products etc. (48.35%), Marine products (47.68%), Electronic goods (47.58%), Engineering goods (42.59%), Handicrafts excluding hand made Carpet (32.61%), Ready made garments of all textiles (30.59%), Organic & Inorganic chemicals (28.47%), Carpet (25.72%), Plastic & Linoleum (24.14%), Jute mfg. including floor covering (22.08%), Mica, Coal & other ores, minerals including processed minerals (18.17%), Cereal preparations & miscellaneous processed items (17.2%), Leather & Leather products (16.46%), Ceramic products & glassware (7.19%), Drugs & Pharmaceuticals (4.11%) and Fruits & Vegetables (0.82%).
Commodities/commodity groups which have recorded negative growth during July 2021 vis-à-vis July 2020 are Oilseeds (-38.59%), Oil meals (-33.85%), Meat, dairy & poultry products (-31.96%), Tobacco (-10.31%), Tea (-8.96%), Spices (-8.34%), Rice (-7.25%), Cashew (-3.6%), Iron ore (-3.39%) and Coffee (-1.89%).
The cumulative value of exports for the period April-July 2021 was $ 130.82 billion (Rs. 9,67,579.13 crore) as against $ 74.96 billion (Rs. 5,66,322.06 crore) during the period April-July 2020, registering a growth of 74.52% in dollar terms (70.85% in rupee terms).
As compared to April-July 2019, exports in April-July 2021 exhibited a growth of 22.09% in dollar terms and 30.17% in rupee terms.
Non-petroleum and non-gems and Jewellery exports in July 2021 were $ 26.12 billion, as compared to $ 20.37 billion in July 2020, a growth of 28.18%. As compared to July 2019, non-petroleum and non-gems and jewellery exports in July 2021 posted a growth of 32.26%.
Imports in July 2021 were $ 46.40 billion (Rs. 3,45,814.93 crore), which is an increase of 62.99% in dollar terms and 61.97% in rupee terms over imports of $ 28.47 billion (Rs 2,13,499.56 crore) in July 2020.
Imports in July 2021 have registered a growth of 14.77% in dollar terms and 24.31% in rupee terms in comparison to July 2019.
The cumulative value of imports for the period April-July 2021 was $ 172.55 billion (Rs. 12,76,776.03 crore), as against $ 88.91 billion (Rs. 6,71,894.74 crore) during the period April-July 2020, registering a positive growth of 94.08% in dollar terms and 90.03% in rupee terms.
Imports in April-July 2021 have registered a growth of 1.18% in dollar terms and 7.92% in rupee terms in comparison to April-July 2019.
Oil imports in July 2021 were $ 12.89 billion (Rs. 96,099.67 crore), which was 97.45% higher in dollar terms (96.22% higher in rupee terms), compared to $ 6.53 billion (Rs. 48,975.09 crore) in July 2020.
As far as services are concerned, the latest data from the Reserve Bank of India showed that exports in June 2021 were $ 19.73 billion (Rs. 1,45,101.10 crore), up 24.12% in dollar terms over June 2020.
The estimated value of services export for July 2021 is $ 19.52 billion, up 16.86% vis-a-vis July 2020 ($ 16.71 billion).
Imports of services in June 2021were $ 11.15 billion (Rs. 81,995.44 crore), registering a growth of 24.75% in dollar terms, vis-à-vis June 2020. The estimated value of services import for July 2021 is $ 10.89 billion, exhibiting a growth of 12.42% vis-à-vis July 2020 ($ 9.69 billion).
Taking merchandise and services together, the overall trade balance for July 2021 is estimated at $ (-) 2.34 billion as compared to USD2.20 billion in July 2020, a decline of (-) 206.43 per cent.