India's September merchandise trade deficit lower at $2.91 bn

India saw its merchandise exports in September 2020 rise to $27.40 billion from $26.02 billion in September 2019, a growth of 5.27 per cent, a ministry of commerce and industry release

India’s merchandise imports in September 2020 were lower at $30.31 billion in September 2020 against $37.69 billion in September 2019, a decline of 19.60 per cent, preliminary data released today showed.
India, however, remained a net importer in September 2020, with a trade deficit of $2.91 billion, compared to a trade deficit of $11.67 billion in September 2019, a substantial improvement of 75.06 per cent
Value of non-petroleum and non-gems and jewellery exports in September 2020 stood at $21.11 billion, compared with $19 billion in September 2019, a growth of 11.12 per cent.
Non-oil and non-gold imports stood at $21.80 billion in September 2020, against such imports worth $25.14 billion in September 2019, a negative growth of (-) 13.29 per cent
Top 5 commodities of export which have recorded positive growth during September 2020 vis-à-vis September 2019 are: Other cereals (304.71 per cent), Iron ore (109.52 per cent), Rice (92.44 per cent), Oil meals (43.90 per cent) and Carpet (42.89 per cent)
Top 5 commodity groups of import showing negative growth year-on-year in September 2020 are: Silver (-93.92 per cent), Cotton Raw and Waste (-82.02 per cent), Newsprint (-62.44 per cent), Gold (-52.85 per cent), Transport equipment (-47.08 per cent).
India’s merchandise exports during April-September 2020-21 stood at $125.06 billion, showing a negative growth of 21.43 per cent over the same period last year.
Merchandise imports during April-September 2020-21 stood at $148.69 billion, compared with $248.08 billion during the same period last year, exhibiting a negative growth of 40.06 per cent. India is thus a net importer in September 2020, with a trade deficit of $2.91 billion, compared with a trade deficit of $11.67 billion, showing a substantial improvement of 75.06 per cent.
In September 2020, the value of non-petroleum exports stood at $23.81 billion, recording a growth of 5.44 per cent over September 2019. The value of non-petroleum and non-gems and jewellery exports in September 2020 stood at $21.11 billion, against $19.00 billion in September 2019, showing a growth of 11.12 per cent. Cumulative value of non-petroleum and non-gems and jewellery exports in April-September 2020-21 stood at $104.35 billion, against $118.65 billion for the corresponding period in 2019-20, a decrease of 12.05 per cent.
In September 2020, India’s oil imports stood at $5.82 billion, against $9.09 billion in September 2019, a decline of 35.92 per cent. Oil imports in April-September 2020-21 stood at $31.85 billion, against $65.20 billion, showing a decline of 51.14 per cent.