India’s September trade deficit narrows to $2.72 bn as imports fall
16 Oct 2020
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India registered a lower trade deficit of $2.72 billion in September 2010 against the deficit of $11.67 billion in September 2019, as the country’s imports at $30.31 billion during the month showed a decline of 19.60 per cent in dollar terms.
Overall trade deficit for the April-September 2020-21 period was also lower at $23.44 billion.
India exported goods worth $27.58 billion (Rs2,02,694.07 crore) in September 2020 against exports valued at $26.02 billion (Rs1,85,642.32 crore) in September 2019, showing a growth of 5.99 per cent in dollar terms and a 9.19 per cent growth in rupee terms.
Major commodities/commodity groups which have recorded year-on-year growth during September 2020 included rice and other cereals, iron ore, oil meals, carpet, ceramic products and glassware, oil seeds, cereal preparations and miscellaneous processed items, drugs and pharmaceuticals, handicrafts (excl. handmade carpet), meat, dairy and poultry products, jute mfg (including floor covering), cotton yarn/fabs/made-ups, handloom products, spices, tobacco and RMG of all textiles.
Major commodities/commodity groups which have recorded negative growth during September 2020 are cashew, gems and jewellery, man-made yarn/fabs./made-ups etc, mica, coal and other ores, minerals (including processed minerals), marine products, leather and leather products, tea and fruits and vegetables.
Cumulative value of exports for the April-September 2020-21 period stood at $125.25 billion (Rs9,38,529.94 crore) against $159.16 billion (Rs11,13,886.17 crore) during April-September 2019-20, registering a negative growth of (-) 21.31 per cent in dollar terms and a negative growth of (-) 15.74 per cent in rupee terms.
India imported goods valued at $30.31 billion (Rs2,22,708.15 crore) in September 2010, showing a decline of 19.60 per cent in dollar terms and a 17.18 per cent fall in rupee terms over imports valued at $37.69 billion (Rs2,68,891.09 crore) in September 2019.
Cumulative value of imports for April-September 2020-21 stood at $148.69 billion (Rs11,14,686.58 crore), as against $248.08 billion (Rs17,35,550.99 crore) during April-September 2019-20, registering a negative growth of (-) 40.06 per cent in dollar terms and a negative growth of (-) 35.77 per cent in rupee terms.
Oil imports in September 2020 were valued at $5.83 billion (Rs42,812.35 crore), which was 35.88 per cent lower in dollar terms and 33.95 per cent lower in rupee terms, compared to oil imports valued at $9.09 billion (Rs64,815.60 crore) in September 2019.
Oil imports in April-September 2020-21 stood at $31.86 billion (Rs2,38,995.70 crore), which was 51.14 per cent lower in dollar terms and 47.60 per cent lower in rupee terms compared to oil imports valued at $65.20 billion (Rs4,56,108.64 crore) in the same period last year.
Non-oil imports in September 2020 were estimated at $24.48 billion (Rs1,79,895.80 crore), which was 14.43 per cent lower in dollar terms and 11.85 per cent lower in rupee terms, compared to $28.61 billion (Rs2,04,075.49 crore) in September2019.
Non-oil imports in April-September 2020-21 were valued at $116.83 billion (Rs8,75,690.88 crore), which was 36.12 per cent lower in dollar terms and 31.56 per cent lower in rupee terms, compared with $182.88 billion (Rs12,79,442.35 crore) in April-September 2019-20.
