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TMI BlogIndia’s Foreign Trade: October 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: October 2020 - News and Press Release Dated:- 13-11-2020 - News - India s overall exports (Merchandise and Services combined) in April-October2020-21* are estimated to be USD 265.09Billion, exhibiting a negative growth of (-) 14.53per cent over the same period last year. Overall imports in April-October 2020-21* are estimated to be USD 248.58Billion, exhibiting a negative growth of (-)31.89per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for September 2020. The data for October 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 yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r. I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inOctober2020 were USD24.89Billion, as compared to USD26.23Billion in October 2019, exhibiting a negative growth of (-)5.12per cent. In Rupee terms, exports were ₹ 1,82,845.95Crore in October2020, as compared to ₹ 1,86,358.06Crore in October2019, registering a negative growth of (-)1.88per cent. Major commodities/commodity groups which have recorded positive growth during October 2020 vis- -vis October 2019 are Other cereals (378.23%), Rice (113.62%), Oil meals (78.57%), Iron ore (74.14%), Oil seeds (54.21%), Carpet (37.67%), Cereal preparations miscellaneous processed items (36.18%), Ceramic products glassware (34.92%), Spice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (21.85%), Drugs pharmaceuticals (21.85%), Jute mfg. including floor covering (18.73%), Meat, dairy poultry products (16.66%), Handicrafts excl. handmade carpet (11.38%), Fruits vegetables (9.87%), Mica, Coal other ores, minerals including processed minerals (9.64%), Cotton yarn/fabs./made-ups, handloom products etc. (6.68%), RMG of all textiles (6.32%), Tobacco (4.33%), Organic inorganic chemicals (1.94%) and Tea (0.12%). Major commodities/commodity groups which have recorded negative growth during October 2020 vis- -vis October 2019 are Petroleum products (-52.04%), Cashew (-21.57%), Gems jewellery (-21.27%), Leather leather products (-16.67%), Man-made yarn/fabs./made-ups etc. (-12.8%), Electronic goods (-9.36%), Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffee (-9.23%), Marine products (-8.09%), Plastic Linoleum (-6.86%) and Engineering goods (-3.75%). Cumulative value of exports for the period April-October 2020-21 was USD150.14Billion (₹ 11,21,375.89Crore) as against USD185.40Billion (₹ 13,00,244.23Crore) during the period April-October 2019-20, registering a negative growth of (-) 19.02per cent in Dollar terms (negative growth of (-)13.76per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in October 2020 were USD20.31Billion, as compared to USD19.07Billion in October2019, registering a positive growth of 6.51per cent. Non-petroleum and Non-Gems and Jewellery exports in April-October 2020-21 were USD124.82Billion, as compared to USD137.72B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illion for the corresponding period in 2019-20, which is a decrease of (-)9.37 per cent. IMPORTS Imports in October2020 were USD33.61Billion (₹ 2,46,856.53Crore), which is a decline of(-) 11.53per cent in Dollar terms and (-) 8.52per cent in Rupee terms over imports of USD37.99Billion (₹ 2,69,852.86Crore) in October2019. Cumulative value of imports for the period April-October 2020-21 was USD182.29Billion (₹ 13,61,543.11Crore), as against USD286.07Billion (₹ 20,05,403.85Crore) during the period April-October 2019-20, registering a negative growth of (-)36.28per cent in Dollar terms and a negative growth of (-)32.11per cent in Rupee terms. Major commodity groups of import showing negative g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rowth in October2020 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inOctober2020 were USD5.98Billion (₹ 43,935.17Crore), which was 38.52percentlower in Dollar terms (36.43percent lower in Rupee terms), compared to USD9.73Billion (₹ 69,111.05Crore) in October2019. Oil imports inApril-October 2020-21 were USD37.84Billion (₹ 2,82,930.87Crore) which was 49.50per cent lower in Dollar terms (46.13percent lower in Rupee terms) compared to USD74.92Billion (₹ 5,25,219.68Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 31.83% in October2020 vis- -vis October 2019 as pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r data available from World Bank. Non-oil imports inOctober2020 were estimated at USD27.62Billion (₹ 2,02,921.36Crore) which was 2.24percent lower in Dollar terms (1.09percent higher in Rupee terms), compared to USD28.26Billion (₹ 2,00,741.82Crore) in October2019. Non-oil imports inApril-October 2020-21 were USD144.45Billion (₹ 10,78,612.24Crore) which was 31.58per cent lower in Dollar terms (27.13percent lower in Rupee terms), compared to USD211.14Billion (₹ 14,80,184.16Crore) in April-October2019-20. Non-Oil and Non-Gold imports wereUSD25.12Billion in October2020, recording a negative growth of (-)4.90per cent, as compared to Non-Oil and Non-Gold importsof USD 26.42Billion in October2019. Non-Oil and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Non-Gold imports wereUSD135.18Billion in April-October 2020-21, recording a negative growth of (-) 30.14per cent, as compared to Non-Oil and Non-Gold imports ofUSD 193.50Billion in April-October 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 13 th November 2020, exports in September2020 were USD 17.29Billion (₹ 1,27,013.12Crore) registering a negative growth of (-) 1.43per cent in Dollar terms, vis- -vis September2019. The estimated value of services export for October2020* is USD 17.39Billion. IMPORTS (Payments) As per the latest press release by RBI dated 13 th November 2020, imports in September 2020 were USD 10.14Billion (₹ 74 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,473.70Crore) registering a negative growth of (-)8.66per cent in Dollar terms, vis- -vis September2019. The estimated value of servicesimport for October2020* is USD 10.20Billion. III.TRADE BALANCE MERCHANDISE : The trade deficit for October2020 was estimated at USD8.71Billion as against the deficit of USD11.75Billion inOctober2019, which is a decline of (-) 25.86 percent. SERVICES : As per RBI s Press Release dated 13 th November 2020, the trade balance in Services (i.e. Net Services export) for September 2020 is USD7.15Billion. The estimated trade balance in October 2020* is USD 7.19Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-October 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0-21* is estimated at USD16.52Billion as compared to the deficit of USD54.83Billion in April-October 2019-20. *Note: The latest data for services sector released by RBI is for September2020. The data for October2020 is an estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) OCTOBER APRIL-OCTOBER EXPORTS(including re-exports) 2019-20 26.23 185.40 2020-21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 24.89 150.14 %Growth 2020-21/ 2019-20 -5.12 -19.02 IMPORTS 2019-20 37.99 286.07 2020-21 33.61 182.29 %Growth 2020-21/ 2019-20 -11.53 -36.28 TRADE BALANCE 2019-20 -11.75 -100.67 2020-21 -8.71 -32.16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) OCTOBER APRIL-OCTOBER EXPORTS(including re-exports) 2019-20 1,86,358.06 13,00,244.23 2020-21 1,82,845.95 11,21,375.89 %Growth 2020-21/ 2019-20 -1.88 -13.76 IMPORTS 2019-20 2,69,852.86 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20,05,403.85 2020-21 2,46,856.53 13,61,543.11 %Growth 2020-21/ 2019-20 -8.52 -32.11 TRADE BALANCE 2019-20 -83,494.80 -7,05,159.62 2020-21 -64,010.58 -2,40,167.22 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) September 2020 April-September 2020-21 EXPORTS (Receipts) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17.29 97.56 IMPORTS (Payments) 10.14 56.08 TRADE BALANCE 7.15 41.48 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) September 2020 April-September 2020-21 EXPORTS (Receipts) 1,27,013.12 7,32,646.52 IMPORTS (Payments) 74,473.70 4,21,060.68 TRADE BALANCE 52,539.42 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,11,585.84 Click here to see Quick Estimates for Selected Major Commodities for October 2020 - 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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