India’s December merchandise trade deficit rises by 23.66% to $15.44 bn

The country exported goods worth $27.15 billion (Rs1,99,770.58 crore) in December 2020 against exports valued at $27.11 billion (Rs1,92,984.47 crore) in December 2019, showing a modest growth of 0.14 per cent in dollar terms and a 3.52 per cent growth in rupee terms.

The commodities/commodity groups that recorded positive growth during December 2020 vis-à-vis December 2019 are cereals and cereal preparations, oil meals, iron ore, miscellaneous processed items, jute mfg (including floor covering), handicrafts (excl hand-made carpet), carpet, ceramic products and glassware, drugs and pharmaceuticals, spices, electronic goods, fruits and vegetables, organic and inorganic chemicals, rice, mica, coal and other ores, minerals (including processed minerals), cotton yarn/fabs/made-ups, handloom products etc, meat, dairy and poultry products, gems and jewellery, tea and engineering goods.

The commodities/commodity groups which have recorded negative growth during December 2020 vis-à-vis December 2019 include petroleum products, oilseeds, leather and leather products, coffee, RMG of all textiles, man-made yarn/fabs/made-ups etc, marine products, cashew, plastic and linoleum and tobacco.

Cumulative value of exports for the period April-December 2020-21 stood at $200.80 billion (Rs14,95,705.96 crore) against exports valued at $238.27 billion (Rs16,77,370.97 crore) during April-December 2019-20, registering a negative growth of (-) 15.73 per cent in dollar terms and a negative growth of (-) 10.83 per cent in rupee terms

Imports in December2020 were valued at an estimated $42.59 billion (Rs3,13,407.53 crore), which is an increase of 7.56 per cent in dollar terms and 11.18 per cent in rupee terms over imports worth $39.59 billion (Rs2,81,880.86 crore) in December 2019. Cumulative value of imports for the period April-December 2020-21 stood at $258.27 billion (Rs19,22,790.49 crore), against $364.18 billion (Rs25,62,539.91 crore) during April-December 2019-20, registering a negative growth of (-) 29.08 per cent in dollar terms and a negative growth of (-) 24.97 per cent in rupee terms.

India’s crude oil imports in December2020 were valued at $9.58 billion (Rs70,516.27 crore), which was 10.61 per cent lower in dollar terms and 7.59 per cent lower in rupee terms compared to imports valued at $10.72 billion (Rs 76,310.52 crore) in December 2019. Oil imports in April-December 2020-21 were valued at $53.69 billion (Rs3,99,976.85 crore), which was 44.49 per cent lower in dollar terms and (41.23 per cent lower in rupee terms compared with imports valued at $96.71 billion (Rs6,80,620.86 crore) during the same period last year.