India’s merchandise exports up by 43% in October

16 Nov 2021 Evaluate

India’s merchandise exports rose by 43% in October 2021 as compared to same period of last year. Export sectors which recorded positive growth during October include petroleum, coffee, engineering goods, cotton yarn/fabs./made-ups, gems and jewellery, chemicals plastic and linoleum and marine products. Trade deficit, gap between imports and exports, widened to $19.73 billion in October as against $9.15 billion in the same month last year.

As per the data released by the Commerce Ministry, exports in October 2021 were $35.65 Billion, as compared to $24.92 Billion in October 2020, exhibiting a positive growth of 43.05 percent. In Rupee terms, exports were Rs 2,67,056.26 crore in October 2021, as compared to Rs 1,83,060.60 crore in October 2020, registering a positive growth of 45.88 percent. Cumulative value of exports for the period April- October 2021 was $233.54 Billion as against $ 150.54 Billion during the period April- October 2020, registering a positive growth of 55.13 percent. In Rupee terms, it was up by 53.87% to Rs 17,30,104.50 crore from Rs 11,24,418.69 crore.

Non-petroleum and Non-Gems and Jewellery exports in October 2021 were $26.09 Billion, as compared to $20.43 Billion in October 2020, registering a positive growth of 27.75 per cent. on-petroleum and Non-Gems and Jewellery exports in April-October 2021 were $175.99 Billion, as compared to $125.23 Billion for the corresponding period in 2020-21, which is an increase of 40.53 per cent.

On the other hand, imports during October 2021 too increased by 62.51% to $55.37 billion as compared to $34.07 billion in October 2020, while in rupee terms it was up by 65.73% to Rs 4,14,832.20 crore from Rs 2,50,299.93 crore in October 2020. Cumulative value of imports for the period April- September 2021 was $331.39 Billion as against $186.01 Billion during the period April- October 2020, registering a positive growth of 78.16 percent. In rupee terms, it was Rs 24,55,722.54 crore, up by 76.76% from Rs 13,89,331.98 crore in the same period last year.

Oil imports in October 2021 were $14.43 Billion, which was 140.47 percent higher, compared to $6.00 Billion in October 2020. Oil imports in April- October 2021 were $87.42 Billion which was 129.96 per cent higher compared to $38.01 Billion over the same period last year. Non-oil imports in October 2021 were estimated at $40.94 Billion which was 45.85 percent higher compared to $28.07 Billion in October 2020. Non-Oil and Non-Gold imports were $35.84 Billion in October 2021, recording a positive growth of 40.14 percent, as compared to Non-Oil and Non-Gold imports of $25.57 Billion in October 2020.

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