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India’s merchandise exports up by 46% in August

15 Sep 2021 Evaluate

India’s merchandise exports rose by 45.76% in August 2021 as compared to same period of last year on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals. Trade deficit, gap between imports and exports, widened to a four-month high of $13.81 billion in August 2021 from $8.20 billion a year ago.

As per the data released by the Commerce Ministry, exports in August 2021 were $33.28 Billion, as compared to $22.83 Billion in August 2020, exhibiting a positive growth of 45.76 percent. In Rupee terms, exports were Rs 2,46,863.37 crore in August 2021, as compared to Rs 1,70,470.61 crore in August 2020, registering a positive growth of 44.81 percent. Cumulative value of exports for the period April- August 2021 was $164.10 Billion as against $98.06 Billion during the period April- August 2020, registering a positive growth of 67.33 percent. In Rupee terms, it was up by 64.37% to Rs 12,14,442.50 crore from Rs 7,38,849.55 crore.    

Non-petroleum and Non-Gems and Jewellery exports in August 2021 were $25.19 Billion, as compared to $19.10 Billion in August 2020, registering a positive growth of 31.87 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-August 2021 were $124.55 Billion, as compared to $83.48 Billion for the corresponding period in 2020-21, which is an increase of 49.21 per cent.

On the other hand, imports during August 2021 too increased by 51.72% to $47.09 billion as compared to $31.03 billion in August 2020, while in rupee terms it was up by 50.73% to Rs 3,49,301.90 crore from Rs 2,31,736.82 crore in August 2020. Cumulative value of imports for the period April- August 2021 was $219.63 Billion as against $77.76 Billion during the period April- August 2020, registering a positive growth of 4.39 percent. In rupee terms, it was Rs 16,26,077.93 crore, up by 80.89% from Rs 9,14,778.03 crore in the same period last year.

Oil imports in August 2021 were $11.65 Billion, which was 80.64 percent higher, compared to $6.45 Billion in August 2020. Oil imports in April- August 2021 were $55.55 Billion which was 112.13 per cent higher compared to $26.19 Billion over the same period last year.  Non-oil imports in August 2021 were estimated at $35.43 Billion which was 44.13 percent higher compared to $24.58 Billion in August 2020. Non-Oil and Non-Gold imports were $28.67 Billion in August 2021, recording a positive growth of 37.33 percent, as compared to Non-Oil and Non-Gold imports of $20.88 Billion in August 2020.  

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