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TMI BlogINDIA’S FOREIGN TRADE: September 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: September 2020 - News and Press Release Dated:- 15-10-2020 - News - India s overall exports (Merchandise and Services combined) in April-September 2020-21* are estimated to be USD 221.86Billion, exhibiting a negative growth of (-)16.66per cent over the same period last year. Overall imports in April-September 2020-21* are estimated to be USD 204.12Billion, exhibiting a negative growth of (-)35.43per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for August 2020. The data for September 2020 is an estimation, which will be revised based on RBI s subsequent release ii) the figures in bracket are growth rates vis- -vis corresponding period of last year. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inSeptember2020 were USD27.58Billion, as compared to USD26.02Billion in September 2019, exhibiting a positive growth of 5.99per cent. In Rupee terms, exports were ₹ 2,02,694.07Crore in September2020, as compared to ₹ 1,85,642.32Crore in September2019, registering a positive growth of 9.19per cent. Major commodities/commodity groups which have recorded positive growth during September 2020 vis- -vis September 2019 are Other cereals (337.22%), Iron Ore (109.65%), Rice (93.86%), Oil Meals (47.52%), Carpet (42.89%), Ceramic products glassware (36.17%), Oil seeds (35.69%), Cereal preparations miscellaneous processed items (33.57%), Drugs pharmaceut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icals (24.38%), Handicrafts excl. handmade carpet (21.82%), Meat, dairy poultry products (19.97%), Jute mfg. including floor covering (18.64%), Cotton yarn/fabs./made-ups, handloom products etc. (15.39%), Spices (11.44%), Tobacco (11.09%) and RMG of all textiles (10.22%). Major commodities/commodity groups which have recorded negative growth during September 2020 vis- -vis September 2019 are Cashew (-44.25%), Gems jewellery (-24.67%), Man-made yarn/fabs./made-ups etc. (-9.12%), Mica, Coal other ores, minerals including processed minerals (-6.71%), Marine products (-5.41%), Leather leather products (-3.36%), Tea (-2.27%) and Fruits Vegetables (-1.44%). Cumulative value of exports for the period April-September 2020-21 was US ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D125.25Billion (₹ 9,38,529.94Crore) as against USD159.16Billion (₹ 11,13,886.17Crore) during the period April-September 2019-20, registering a negative growth of (-)21.31per cent in Dollar terms (negative growth of (-)15.74per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in September 2020 were USD21.27Billion, as compared to USD19.00Billion in September2019, registering a positive growth of 11.94per cent. Non-petroleum and Non-Gems and Jewellery exports in April-September 2020-21 were USD104.51Billion, as compared to USD118.65Billion for the corresponding period in 2019-20, which is a decrease of (-)11.92 per cent. IMPORTS Imports in September2020 were USD30.31Billion (₹ 2,22,708.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5Crore), which is a decline of(-) 19.60per cent lower in Dollar terms and (-) 17.18per cent in Rupee terms over imports of USD37.69Billion (₹ 2,68,891.09Crore) in September2019. Cumulative value of imports for the period April-September 2020-21 was USD148.69Billion (₹ 11,14,686.58Crore), as against USD248.08Billion (₹ 17,35,550.99Crore) during the period April-September 2019-20, registering a negative growth of (-)40.06per cent in Dollar terms and a negative growth of (-)35.77per cent in Rupee terms. Major commodity groups of import showing negative growth in September2020 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inSeptember2020 were USD5.83Billion (S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 42,812.35Crore), which was 35.88percentlower in Dollar terms (33.95percentlower in Rupee terms), compared to USD9.09Billion (₹ 64,815.60Crore) in September2019. Oil imports inApril-September 2020-21 were USD31.86Billion (₹ 2,38,995.70Crore) which was 51.14per cent lower in Dollar terms (47.60percent lower in Rupee terms) compared to USD65.20Billion (₹ 4,56,108.64Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 34.08% in September2020 vis- -vis September2019 as per data available from World Bank. Non-oil imports inSeptember2020 were estimated at USD24.48Billion (₹ 1,79,895.80Crore) which was 14.43per cent lower in Dollar terms (11 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .85percentlower in Rupee terms), compared to USD28.61Billion (₹ 2,04,075.49Crore) in September2019. Non-oil imports inApril-September 2020-21 were USD116.83Billion (₹ 8,75,690.88Crore) which was 36.12per cent lower in Dollar terms (31.56percent lower in Rupee terms), compared to USD182.88Billion (₹ 12,79,442.35Crore) in April-September2019-20. Non-Oil and Non-Gold imports wereUSD23.88Billion in September2020, recording a negative growth of (-)12.63per cent, as compared to Non-Oil and Non-Gold importsof USD 27.33Billion in September2019. Non-Oil and Non-Gold imports wereUSD110.05Billion in April-September 2020-21, recording a negative growth of (-)34.13per cent, as compared to Non-Oil and Non-Gold importsUSD 167.08Billio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n in April-September 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 15 th October 2020, exports in August2020 were USD 16.44Billion (₹ 1,22,768.07Crore) registering a negative growth of (-)9.88per cent in dollar terms, vis- -vis August2019. The estimated value of services export for September2020* is USD 16.34Billion. IMPORTS (Payments) As per the latest press release by RBI dated 15 th October 2020 imports in August 2020 were USD 9.60Billion (₹ 71,662.62Crore) registering a negative growth of (-)20.06per cent in dollar terms, vis- -vis August2019. The estimated value of service import for September2020* is USD 9.49Billion. III.TRADE BALANCE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MERCHANDISE : The trade deficit for September2020 was estimated at USD2.72Billion as against the deficit of USD11.67Billion inSeptember2019, which is a decline of (-) 76.66percent. SERVICES : As per RBI s Press Release dated 15 th October 2020 the trade balance in Services (i.e. Net Services export) for August 2020 is USD6.84Billion. The estimated trade balance in September 2020* is USD 6.85Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-September 2020-21* is estimated at USD17.74Billion as compared to the deficit of USD49.91Billion in April-September 2019-20. *Note: The latest data for services sector released by RBI is for August2020. The data for September2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is an estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) SEPTEMBER APRIL-SEPTEMBER EXPORTS(including re-exports) 2019-20 26.02 159.16 2020-21 27.58 125.25 %Growth 2020-21/ 2019-20 5.99 -21.31 IMPORTS 2019-20 37.69 248.08 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020-21 30.31 148.69 %Growth 2020-21/ 2019-20 -19.60 -40.06 TRADE BALANCE 2019-20 -11.67 -88.92 2020-21 -2.72 -23.44 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) SEPTEMBER APRIL-SEPTEMBER EXPORTS(including re-exports) 2019 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -20 1,85,642.32 11,13,886.17 2020-21 2,02,694.07 9,38,529.94 %Growth 2020-21/ 2019-20 9.19 -15.74 IMPORTS 2019-20 2,68,891.09 17,35,550.99 2020-21 2,22,708.15 11,14,686.58 %Growth 2020-21/ 2019-20 -17.18 -35.77 TRADE BALANCE 2019-20 -83,248.77 -6,21,664.82 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020-21 -20,014.08 -1,76,156.64 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) August 2020 April-August 2020-21 EXPORTS (Receipts) 16.44 80.28 IMPORTS (Payments) 9.60 45.95 TRADE BALANCE 6.84 34.33 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) August 2020 April ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -August 2020-21 EXPORTS (Receipts) 1,22,768.07 6,05,633.40 IMPORTS (Payments) 71,662.62 3,46,586.98 TRADE BALANCE 51,105.45 2,59,046.42 Source: RBI Press Release dated 15 th October 2020 Please click here for Quick Estimates - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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