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TMI BlogINDIA’S FOREIGN TRADE: MARCH 2021X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: MARCH 2021 X X X X Extracts X X X X X X X X Extracts X X X X ..... E EXPORTS (including re-exports) * Exports inMarch2021 were USD34.45Billion, as compared to USD21.49Billion in March 2020, exhibiting a positive growth of 60.29per cent. In Rupee terms, exports were ₹ 2,50,756.40Crore in March2021, as compared to ₹ 1,59,784.62Crore in March2020, registering a positive growth of 56.93per cent. * The commodities/commodity groups which have recorded positive growth during March 2021 vis-à-vis March 2020 areOther cereals (326.44%), Oil meals (230.4%), Iron ore (194.89%), Jute mfg. including floor covering (105.26%), Electronic goods (91.98%), Carpet (89.84%), Gems & jewellery (78.93%), Engineering goods (71.3%), Cereal preparations & miscellaneous processed items (67.61%), Rice (66.77%), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Spices (60.42%), Cotton yarn/fabs./made-ups, handloom products etc. (55.67%), Ceramic products & glassware (53.48%), Meat, dairy & poultry products (52.79%), Drugs & pharmaceuticals (48.49%), Organic & inorganic chemicals (46.5%), Plastic & Linoleum (46.39%), Handicrafts excl. handmade carpet (43.24%), Marine products (40.81%), Petroleum products (35.52%), Man-made yarn/fabs./made-ups etc. (31.37%), Mica, Coal & other ores, minerals including processed minerals (31.28%), RMG of all textiles (27.51%), Fruits & vegetables (23.96%), Coffee (23.27%), Leather & leather products (21.86%), Tobacco (15.57%) and Tea (8%). * The commodities/commodity groups which have recorded negative growth during March 2021 vis-à-vis March 2020are Oil se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eds (-6.45%) and Cashew (-1.99%). * Cumulative value of exports for the period April-March 2020-21 was USD290.63Billion (₹ 21,50,325.03Crore) as against USD313.36Billion (₹ 22,19,854.18Crore) during the period April-March 2019-20, registering a negative growth of (-)7.26per cent in Dollar terms (negative growth of (-)3.13per cent in Rupee terms). * Non-petroleum and Non-Gems and Jewellery exports in March 2021 were USD27.42Billion, as compared to USD16.95Billion in March2020, registering a positive growth of 61.75per cent. Non-petroleum and Non-Gems and Jewellery exports in April-March 2020-21 were USD238.72Billion, as compared to USD236.17Billion for the corresponding period in 2019-20, which is anincreaseof 1.08 per cent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IMPORTS * Imports in March2021 were USD48.38Billion (₹ 3,52,191.21Crore), which is an increase of53.74per cent in Dollar terms and 50.52per cent in Rupee terms over imports of USD31.47Billion (₹ 2,33,988.47Crore) in March2020. Cumulative value of imports for the period April-March 2020-21 was USD389.18Billion (₹ 28,76,918.30Crore), as against USD474.71Billion (₹ 33,60,954.46Crore) during the period April-March 2019-20, registering a negative growth of (-)18.02per cent in Dollar terms and a negative growth of (-)14.40per cent in Rupee terms. * Major commodity groups of import showing negative growth in March2021 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: * Oil imports inMarch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021 were USD10.27Billion (₹ 74,768.22Crore), which was 2.23percenthigher in Dollar terms (0.08percent higher in Rupee terms), compared to USD10.05Billion (₹ 74,704.86Crore) in March2020. Oil imports inApril-March 2020-21 were USD82.35Billion (₹ 6,08,881.25Crore) which was 36.92per cent lower in Dollar terms (34.19percent lower in Rupee terms) compared to USD130.55Billion (₹ 9,25,167.52Crore), over the same period last year. * In this connection it is mentioned that the global Brent price ($/bbl) has increased by 97.67% in March2021 vis-à-vis March2020 as per data available from World Bank. * Non-oil imports inMarch2021 were estimated at USD38.11Billion (₹ 2,77,422.99Crore) which was 77.90percent hig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her in Dollar terms (74.17percent higher in Rupee terms), compared to USD21.42Billion (₹ 1,59,283.61Crore) in March2020. Non-oil imports inApril-March 2020-21 were USD306.83Billion (₹ 22,68,037.05Crore) which was 10.85per cent lower in Dollar terms (6.89percent lower in Rupee terms), compared to USD344.16Billion (₹ 24,35,786.93Crore) in April-March2019-20. * Non-Oil and Non-Gold imports wereUSD29.62Billion in March2021, recording a positive growth of 46.66per cent, as compared to Non-Oil and Non-Gold importsof USD 20.20Billion in March2020. Non-Oil and Non-Gold imports wereUSD272.23Billion in April-March 2020-21, recording a negative growth of (-)13.83per cent, as compared to Non-Oil and Non-Gold imports ofUSD 315.93Bill ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion in April-March 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) * As per the latest press release by RBI dated 15thApril 2021, exports in February 2021 were USD 17.55Billion (₹ 1,27,651.28Crore) registering a negative growth of (-)1.02per cent in Dollar terms, vis-à-vis February2020. The estimated value of services export for March2021* is USD 17.75Billion. IMPORTS (Payments) * As per the latest press release by RBI dated 15thApril 2021, imports in February 2021were USD 10.61Billion (₹ 77,216.47Crore) registering a negative growth of (-)4.10per cent in Dollar terms, vis-à-vis February 2020. The estimated value of services import for March2021* is USD 10.84Billion. III.TRADE BALANCE * MERCHANDISE: The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trade deficit for March2021 was estimated at USD13.93Billion as against the deficit of USD9.98Billion inMarch2020, which is an increase of 39.62 percent. * SERVICES: As per RBI's Press Release dated 15thApril 2021, the trade balance in Services (i.e. Net Services export) for February 2021is USD6.93Billion. The estimated trade balance in March 2021* is USD 6.91Billion. * OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2020-21* is estimated at USD12.74Billion as compared to the deficit of USD77.76Billion in April-March 2019-20. *Note: The latest data for services sector released by RBI is for February 2021. The data for March2021 is an estimation, which will be revised based on RBI' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s subsequent release. MERCHANDISE TRADE EXPORTS & IMPORTS : (US $ Billion) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS(including re-exports) 2019-20 21.49 313.36 2020-21 34.45 290.63 %Growth 2020-21/ 2019-20 60.29 -7.26 IMPORTS 2019-20 31.47 474.71 2020-21 48.38 389.18 %Growth 2020-21/ 2019-20 53.74 -18.02 TRADE BALANCE 2019-20 -9.98 -161.35 2020-21 -13.93 -98.56 EXPORTS &IMPORTS: (Rs. Crore) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS(including re-exports) 2019-20 1,59,784.62 22,19,854.18 2020-21 2,50,756.40 21,50,325.03 %Growth 2020-21/ 2019-20 56.93 -3.13 IMPORTS 2019-20 2,33,988.47 33,60,954.46 2020-21 3,52,191.21 28,76,918.30 %Growth 2020-21/ 2019-20 50.52 -14.40 TRADE BALANCE 2019-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X .....
-74,203.85
-11,41,100.28
2020-21
-1,01,434.81
-7,26,593.27
SERVICES TRADE
EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(PROVISIONAL)
February 2021
April-February2020-21
EXPORTS (Receipts)
17.55
184.81
IMPORTS (Payments)
10.61
105.91
TRADE BALANCE
6.93
78.91
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)
February 2021
April-February 2020-21
EXPORTS (Receipts)
1,27,651.28
13,73,288.41
IMPORTS (Payments)
77,216.47
7,86,800.79
TRADE BALANCE
50,434.81
5,86,487.62
Source: RBI Press Release dated 15thApril 2021
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