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India’s exports rise 6.16% in January; trade deficit narrows to $14.54 billion

16 Feb 2021 Evaluate

Growing for the second consecutive month, India’s merchandise exports rose 6.16 percent year-on-year to $27.45 billion in January 2021 over the same period of last year, following healthy growth in pharma and engineering sectors. Trade deficit during the month narrowed to $14.54 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020.

As per the data released by the Commerce Ministry, exports increased by 6.16% to $27.45 billion in January 2021, as compared to $25.85 billion in January 2020. In Rupee terms, exports were Rs 2,00,661.11 crore in January 2021, as compared to Rs 1,84,369.73 crore in January 2020, registering a positive growth of 8.84%. Cumulative value of exports for the period April- January 2020-21 was $228.25 billion as against $264.13 billion during the period April- January 2019-20, registering a negative growth of 13.58%. Rupee terms, it was down by 8.88% to Rs 16,96,367.07 crore from Rs 18,61,740.70 crore in the corresponding month a year ago.  

Non-petroleum and Non-Gems and Jewellery exports in January 2021 were $22.44 Billion, as compared to $19.79 Billion in January 2020, registering a positive growth of 13.40 percent. Non-petroleum and Non-Gems and Jewellery exports in April-January 2020-21 were $188.77Billion, as compared to $197.94Billion for the corresponding period in 2019-20, which is a decrease of 4.63 percent.

On the other hand, imports increased by 2.03% to $41.99 billion in January 2021 as compared to $41.15 billion in January 2020, while in rupee terms it was up by 4.60% to Rs 3,06,951.56 crore from Rs 2,93,452.69 crore in January 2020. Cumulative value of imports for the period April- January 2020-21 was $300.26 billion, as against $405.33 billion during the period April- January 2019-20, registering a negative growth of 25.92%. In rupee terms, it was Rs 22,29,742.05 crore, down by 21.93% from Rs 28,55,992.59 crore in the same period last year.

Oil imports in January 2021 were $9.40 billion, which was 27.72% lower, compared to $13.01 billion in January 2020. Oil imports in April- January 2020-21 were $63.09 billion which was 42.50% lower over the same period last year. Non-oil imports in January 2021 were estimated at $32.58 billion which was 15.79% higher, compared to $28.14 billion in January 2020.  Non-oil imports in April- January 2020-21 were $237.16 billion which was 19.77% lower, compared to $295.61 billion in April- January 2019-20. Non-Oil and Non-Gold imports were $28.55 billion in January 2021, recording a positive growth of 7.50%, as compared to $26.56 billion in January 2020. Non-Oil and Non-Gold imports were $216.34 billion in April- January 2020-21, recording a negative growth of 20.16%, over the same period of last year.

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