India’s merchandise exports rise 67.37% in May, but remains a net importer
04 Jun 2021
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India’s merchandise exports in May 2021 stood at $32.21 billion, showing an increase of 67.39 per cent over May 2020 and an increase of 7.93 per cent over May 2019, data released by the commerce ministry showed.
The country imported goods valued at $38.53 billion in May 2021, which is 68.54 per cent higher compared to imports in May 2020 and 17.47 per cent lower compared to imports in May 2019.
India, however, remained a net importer in May 2021 with a trade deficit of $6.32 billion, which is 74.69 per cent higher compared to the trade deficit of $3.62 billion in May 2020.
Exports of non-petroleum and non-gems and jewellery exports from the country in May 2021 stood at $23.97 billion, showing a growth of 45.96 per cent over May 2020 and a growth of 11.51 per cent over May 2019.
Imports of non-oil, non-gold jewellery products in May 2021 stood at $26.14 billion, showing a growth of 41.32 per cent over May 2020 and a negative growth of 4.08 per cent over May 2019
The top five commodity groups of export that have recorded growth during May 2021 vis-à-vis May 2020 are other cereals, jute manufactures (including floor covering, petroleum products), handicrafts (excluding handmade carpet, and gems and jewellery), whih showed a growth of 179.16 per cent.
Major commodity groups of export showing negative growth in May 2021 over May 2019 are leather and leather manufactures (-36.48 per cent), tTea (-29.43 per cent), RMG of all textiles (-27.59 per cent), oil seeds (-24.47 per cent), oil meals (-19.49 per cent), handicrafts (excluding hand-made carpet (-19.48 per cent), gems and jewellery (-13.4 per cent), fruits and vegetables (-8.32 per cent), cashew (-7.11 per cent), coffee (-4.71 per cent), and tobacco (-0.78 per cent).
Top five commodity groups of imports that have shown a fall in May 2021 vis-à-vis May 2020 are silver, newsprint, pulses, transport equipment, and iron and steel.
India’s merchandise exports in April-May 2021 stood at $62.84 billion, showing an increase of 112.29 per cent over exports valued at $29.6 billion in April-May 2020 and an increase of 12.44 per cent over $55.88 billion in April-May 2019.
Merchandise imports in April-May 2021 stood at $84.25 billion, showing an increase of 110.73 per cent over $39.98 billion in April-May 2020 and a decrease of 5.41 per cent over imports valued at $89.07 billion in April-May 2019.
India is thus a net importer in May 2021 with a trade deficit of $6.32 billion, showing an increase of 74.69 per cent over the trade deficit of $3.62 billion in May 2020 and reduction of 62.49 per cent over trade deficit of $16.84 billion in May 2019.
