India’s merchandise trade deficit rises to $41.73 billion in 4 months

Trade deficit for July 2021 was estimated at $10.97 billion against a deficit of $4.83 billion in July 2020.

India exported goods worth $35.43 billion (Rs2,64,033.76 crore) in July 2021 against $23.64 billion (Rs1,77,305.79 crore) in July 2020, showing a growth of 49.85 per cent in dollar terms and a growth of 48.91 per cent in rupee terms. 

Cumulative value of exports for the period April-July 2021 stood at $130.82 billion (Rs9,67,579.13 crore) against $74.96 billion (Rs5,66,322.06 crore) during April-July 2020, showing a growth of 74.52 per cent in dollar terms and a growth of 70.85 per cent in rupee terms.

The commodities/commodity groups that have recorded growth during July 2021 vis-à-vis July 2020 are petroleum products (230.98 per cent), gems and jewellery (130.5 per cent), cereals(108.86 per cent), man-made yarn/fabrics/made-ups etc (58.93 per cent), cotton yarn/fabrics/made-ups, handloom products etc (48.35 per cent), marine products (47.68 per cent), electronic goods (47.58 per cent), engineering goods (42.59 per cent), handicrafts - excluding handmade carpet (32.61 per cent), RMG of all textiles (30.59 per cent), organic and inorganic chemicals (28.47 per cent), carpet (25.72 per cent), plastic and linoleum (24.14 per cent), jute manufacturing-including floor covering (22.08 per cent), mica, coal,other ores, minerals-including processed minerals (18.17 per cent), cereal preparations and miscellaneous processed items (17.2 per cent), leather and leather products (16.46 per cent), ceramic products and glassware (7.19 per cent), drugs and pharmaceuticals (4.11 per cent) and fruits and vegetables (0.82 per cent).

The commodities/commodity groups that have registered negative growth during July 2021 vis-à-vis July 2020 are oilseeds (-38.59 per cent), oil meals (-33.85 per cent), meat, dairy and poultry products (-31.96 per cent), tobacco (-10.31 per cent), tea (-8.96 per cent), spices (-8.34 per cent), rice (-7.25 per cent), cashew (-3.6 per cent), iron ore (-3.39 per cent) and coffee (-1.89 per cent).

Exports of non-petroleum and non-gems and jewellery products in July 2021 stood at $26.12 billion, against $20.37 billion in July 2020, showing a growth of 28.18 per cent. 

Exports of non-petroleum and non-gems and jewellery products in April-July 2021 stood at $99.36 billion, against $64.29 billion in the corresponding period in 2020-21, which is an increase of 54.55 per cent. 

India’s merchandise imports in July 2021 stood at $46.40 billion (Rs3,45,814.93 crore), which is an increase of 62.99 per cent in dollar terms and 61.97 per cent in rupee terms over imports valued at $28.47 billion (Rs2,13,499.56 crore) in July 2020.

Cumulative value of imports for the period April-July 2021 stood at $172.55 billion (Rs12,76,776.03 crore), against $88.91 billion (Rs6,71,894.74 crore) during April-July 2020, posting a growth of 94.08 per cent in dollar terms and a growth of 90.03 per cent in rupee terms. 

India’s oil imports in July 2021 were valued at $12.89 billion (Rs96,099.67 crore), which was 97.45 per cent higher in dollar terms and 96.22 per cent higher in rupee terms, compared with imports valued at $6.53 billion (Rs48,975.09 crore) in July 2020. 

Cumulative value of oil imports in April-July 2021 stood at $43.90 billion (Rs3,24,856.12 crore), which is 123.84 per cent higher in dollar terms and 119.15 per cent higher in rupee terms against oil imports valued at $19.61 billion (Rs1,48,234.51 crore), during the same period last year.

Non-oil imports in July 2021 were estimated at $33.51 billion (Rs2,49,715.26 crore), which was 52.73 per cent higher in dollar terms and 51.78 per cent higher in rupee terms, compared with imports valued at $21.94 billion (Rs1,64,524.47 crore) in July 2020.

Non-oil imports in April-July 2021 were valued at $128.65 billion (Rs9,51,919.91 crore), which was 85.65 per cent higher in dollar terms and 81.78 per cent higher in rupee terms, compared with oil imports valued at $69.30 billion (Rs5,23,660.23 crore) in April-July 2020.