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TMI BlogIndia’s Foreign Trade for June 2021X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade for June 2021 - News and Press Release Dated:- 15-7-2021 - News - India s Foreign Trade for June 2021 India s overall exports (Merchandise and Services) in June 2021 estimated to be USD 49.85 Billion, exhibiting a positive growth of 31.87 per cent India s overall exports (Merchandise and Services combined) in June 2021* are estimated to be USD 49.85 Billion, exhibiting a positive growth of 31.87 per cent over the same period last year and a positive growth of 17.17 per cent over June 2019. Overall imports in June 2021* are estimated to be USD 52.18 Billion, exhibiting a positive growth of 73.65 per cent over the same period last year and a positive growth of 1.08 per cent over June 2019 June 2021 (USD Billion) June 2020 (USD Billion) June 2019 (USD Billion) Growth vis- -vis June 2020 (%) Growth vis- -vis June 2019 (%) Merchandise Exports 32.50 21.91 25.03 48.34 29.85 Im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ports 41.87 21.11 41.03 98.31 2.05 Trade Balance -9.37 0.79 -16.00 -1281.86 41.43 Services* Exports 17.35 15.89 17.51 9.16 -0.94 Imports 10.31 8.94 10.59 15.38 -2.68 Net of Services 7.04 6.96 6.92 1.18 1.73 Overall Trade (Merchandise+ Services)* Exports 49.85 37.80 42.54 31.87 17.17 Imports 52.18 30.05 51.63 73.65 1.08 Trade Balance -2.34 7.75 -9.09 -130.13 74.30 *Note: The la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... test data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI s subsequent release.(ii) Data for2019 and 2020are revised on pro-rata basis using quarterly balance of payments data. India s overall exports (Merchandise and Services combined) in April-June 2021* are estimated to be USD 147.64 Billion, exhibiting a positive growth of 50.24 per cent over the same period last year and a positive growth of 10.92 per cent over April-June 2019. Overall imports in April-June 2021* are estimated to be USD 156.58 Billion, exhibiting a positive growth of 80.75 per cent over the same period last year and a negative growth of (-) 3.48 per cent over April-June 2019. April-June 2021 (USD Billion) April-June 2020 (USD Billion) April-June 2019 (USD Billion) Growth vis- -vis April-June 2020 (%) Growth vis- -vis April-June 2019 (%) Merchandise Exports 95.39 51.32 80.91 85.88 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17.90 Imports 126.15 60.44 130.10 108.72 -3.04 Trade Balance -30.75 -9.12 -49.19 -237.25 37.48 Services* Exports 52.25 46.95 52.20 11.29 0.11 Imports 30.44 26.19 32.12 16.20 -5.24 Net of Services 21.81 20.76 20.08 5.09 8.66 Overall Trade (Merchandise+ Services)* Exports 147.64 98.27 133.11 50.24 10.92 Imports 156.58 86.63 162.22 80.75 -3.48 Trade Balance -8.94 11.64 -29.12 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 176.80 69.30 *Note:The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI s subsequent release.(ii) Data for 2019 and 2020 are revised on pro-rata basis using quarterly balance of payments data. I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports in June 2021 were USD 32.50 Billion, as compared to USD 21.91 Billion in June 2020, exhibiting a positive growth of 48.34 per cent. In Rupee terms, exports were ₹ 2,39,047.45 Crore in June 2021, as compared to ₹ 1,65,898.85 Crore in June 2020, registering a positive growth of 44.09 per cent. As compared to June 2019, exports in June 2021 exhibited a positive growth of 29.85 per cent in Dollar terms and 37.55per cent in Rupee terms. The commodities/commodity groups which have recorded positive growth during June 2021 vis- -vis June 2020 areOther cereals (235.93%), Petroleum products (115.37%), Man-made yarn/fabs./made-ups etc.(81.72%), Gems jewellery (80.53%), Meat, dairy poultry products (61.81%), Cotton yarn/fabs./made-ups, handloom products etc.(56.88%), Handicrafts excl. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... handmade Carpet (55.1%), Plastic Linoleum (53.8%), Engineering goods (52.9%), Electronic goods (45.2%), Jute mfg. including floor covering (44.93%), Iron ore (43.82%), Carpet (39.49%), Cereal preparations miscellaneous processed items (38.64%), Ceramic products glassware (36.97%), Organic inorganic chemicals (36.3%), Marine products (33.74%), Leather leather products (32.72%), Oil meals (28.16%), RMG of all textiles (24.67%), Mica, Coal other ores, minerals including processed minerals (24.17%), Coffee (12.82%), Tobacco (9.15%), Rice (8.81%), Fruits Vegetables (8.26%) and Drugs pharmaceuticals (0.02%). The commodities/commodity groups which have recorded negative growth during June 2021 vis- -vis June 2020 are Oil seeds (-32.75%), Cashew (-24.45%), Tea (-18.54%) and Spices (-11.31%). Cumulative value of exports for the period April-June 2021 was USD 95.39 Billion (₹ 7,03,545.37 Crore) as against USD 51.32 Billion (₹ 3,89,016.27 Crore) during the period April-June 2020, registering a positive growth of 85.88 per cent in Dollar terms (positive growth of 80.85 per cent in Rupee terms). As compared to April-June 2019, exports in April-June 2021 exhibi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted a positive growth of 17.90 per cent in Dollar terms and 25.01 per cent in Rupee terms. Non-petroleum and Non-Gems and Jewellery exports in June 2021 were USD 25.65 Billion, as compared to USD 18.48 Billion in June 2020, registering a positive growth of 38.84 per cent. As compared to June 2019, Non-petroleum and Non-Gems and Jewellery exports in June 2021registered a positive growth of 33.42 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-June 2021 were USD 73.24 Billion, as compared to USD 43.91 Billion for the corresponding period in 2020-21, which is an increase of 66.79 per cent. As compared to April-June 2019, Non-petroleum and Non-Gems and Jewellery exports in April-June 2021 registered a positive growth of 21.40 per cent. IMPORTS Imports in June 2021 were USD 41.87 Billion (₹ 3,08,002.48 Crore), which is an increase of 98.31 per cent in Dollar terms and 92.63 per cent in Rupee terms over imports of USD 21.11 Billion (₹ 1,59,892.42 Crore) in June 2020. Imports in June 2021 have registered a positive growth of2.05 per cent in Dollar terms and 8.10 per cent in Rupee terms in comparison to June 2019. Cumulative value of imports ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the period April-June 2021 was USD 126.15 Billion (₹ 9,30,961.10 Crore), as against USD 60.44 Billion (₹ 4,58,395.18 Crore) during the period April-June 2020, registering a positive growth of 108.72 per cent in Dollar terms and a positive growth of 103.09 per cent in Rupee terms. Imports in April-June 2021 have registered a negative growth of (-) 3.04 per cent in Dollar terms and positive growth of 2.88 per cent in Rupee terms in comparison to April-June 2019. Major commodity groups of import showing negative growth in June2021 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports in June 2021 were USD 10.68 Billion (₹ 78,532.41 Crore), which was 116.51 percent higher in Dollar terms (110.31 percent higher in Rupee terms), compared to USD 4.93 Billion (₹ 37,341.70 Crore) in June 2020. As compared to June 2019, oil imports in June 2021 were 4.72 percent lower in Dollar terms and 0.93per cent higher in Rupee terms. Oil imports in April-June 2021 were USD 31.00 Billion (₹ 2,28,756.45 Crore) which was 137.02 per cent higher in Dollar terms (130.46 percent higher in Rupee terms) compared to USD 13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .08 Billion (₹ 99,259.42 Crore), over the same period last year. As compared to April-June 2019, oil imports in April-June 2021 were 12.33 percent lower in Dollar terms and 6.99per cent lower in Rupee terms. In this connection it is mentioned that the global Brent price ($/bbl) has increased by 83.00% in June 2021 vis- -vis June 2020 as per data available from World Bank. Non-oil imports in June 2021 were estimated at USD 31.20 Billion (₹ 2,29,470.07 Crore) which was 92.77 percent higher in Dollar terms (87.24 percent higher in Rupee terms), compared to USD 16.18 Billion (₹ 1,22,550.72 Crore) in June 2020. As compared to June 2019, Non-oil imports in June 2021, were 4.59per cent higher in Dollar terms and 10.79 per cent higher in Rupee terms. Non-oil imports in April-June 2021 were USD 95.14 Billion (₹ 7,02,204.65 Crore) which was 100.90 per cent higher in Dollar terms (95.53 percent higher in Rupee terms), compared to USD 47.36 Billion (₹ 3,59,135.76 Crore) in April-June 2020. As compared to April-June 2019, Non-oil imports in April-June 2021 were 0.43 per cent higher in Dollar terms and 6.56 per cent higher in Rupee terms. Non-Oil and N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on-Gold imports were USD 30.23Billion in June 2021, recording a positive growth of 94.07per cent, as compared to Non-Oil and Non-Gold imports of USD 15.57Billion in June 2020. Non-Oil and Non-Gold imports in June 2021 recorded a positive growth of 11.41 per cent over June 2019. Non-Oil and Non-Gold imports were USD 87.26Billion in April-June 2021, recording a positive growth of 86.96per cent, as compared to Non-Oil and Non-Gold imports of USD 46.67Billion in April-June 2020. Non-Oil and Non-Gold imports in April-June 2021 recorded a positive growth of 4.76 per cent over April-June 2019. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 1 st July 2021, exports in May 2021 were USD 17.36Billion (₹ 1,27,170.75 Crore) registering a positive growth of 10.71per cent in Dollar terms, vis- -vis May2020. The estimated value of services export for June2021* is USD 17.35Billion, exhibiting a positive growth of 9.16 per cent vis-a-vis June 2020 (USD 15.89 Billion) and a negative growth of (-) 0.94 per cent vis- -vis June 2019 (USD 17.51 Billion). IMPORTS (Payments) As per the latest press release by RBI dated 1 st July ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021, imports in May 2021were USD 10.23Billion (₹ 74,974.84 Crore) registering a positive growth of 14.78per cent in Dollar terms, vis- -vis May 2020. The estimated value of services import for June2021* is USD 10.31Billion exhibiting a positive growth of 15.38 per cent vis- -vis June 2020 (USD 8.94 Billion) and a negative growth of(-) 2.68per cent vis- -vis June 2019 (USD 10.59 Billion). III.TRADE BALANCE MERCHANDISE : The trade balance for June2021 was estimated at USD(-) 9.37 Billion as against USD0.79Billion inJune2020, which is a declineof (-) 1281.86 percent. As compared to June 2019 (USD (-) 16.00 Billion), trade balance in June 2021 exhibited a positive growth of41.43 per cent. SERVICES : As per RBI s Press Release dated 1 st July 2021, the trade balance in Services (i.e. Net Services export) for May 2021is USD7.12Billion. The estimated trade balance in June 2021* is USD 7.04Billion, which is an increase of 1.18 per cent over June 2020 (USD 6.96 Billion) and an increase of1.73 per cent over June2019 (USD 6.92 Billion). OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade balance for June 2021* is estimated atU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SD(-) 2.34Billion as compared to USD7.75Billion in June 2020, a decline of (-) 130.13 per cent. In comparison to June 2019(USD (-) 9.09 Billion), trade balance in June 2021 exhibited a positive growth of 74.30 per cent. *Note:The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI s subsequent release.(ii) Data for 2019 and 2020 are revised on pro-rata basis using quarterly balance of payments data. MERCHANDISE TRADE EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) JUNE APRIL-JUNE EXPORTS(including re-exports) 2019-20 1,73,790.79 5,62,813.36 2020-21 1,65,898.85 3,89,016.27 2021-22 2,39,047.45 7,03,545.37 %Growth 2021-22/ 2020-21 44.09 80.85 %Growth 2021-22/ 2019-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 37.55 25.01 IMPORTS 2019-20 2,84,925.13 9,04,933.07 2020-21 1,59,892.42 4,58,395.18 2021-22 3,08,002.48 9,30,961.10 %Growth 2021-22/ 2020-21 92.63 103.09 %Growth 2021-22/ 2019-20 8.10 2.88 TRADE BALANCE 2019-20 -1,11,134.34 -3,42,119.71 2020-21 6,006.43 -69,378.91 2021-22 -68,955.03 -2,27,415.73 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) May 2021 April-May 2021 EXPORTS (Receipts) 17.36 34.90 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IMPORTS (Payments) 10.23 20.13 TRADE BALANCE 7.12 14.78 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) May 2021 April-May 2021 EXPORTS (Receipts) 1,27,170.75 2,57,847.12 IMPORTS (Payments) 74,974.84 1,48,672.53 TRADE BALANCE 52,195.91 1,09,174.59 Source: RBI Press Release dated 1 st July 2021 Click here to see 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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