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TMI BlogINDIA’S FOREIGN TRADE: November 2021X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: November 2021 X X X X Extracts X X X X X X X X Extracts X X X X ..... Exports 20.33 17.39 17.82 16.88 14.06 Imports 11.81 9.78 10.94 20.71 7.90 Net of Services 8.52 7.61 6.88 11.95 23.84 Overall Trade (Merchandise+ Services)* Exports 50.36 41.01 43.59 22.80 15.53 Imports 64.75 43.59 49.47 48.54 30.90 Trade Balance -14.39 -2.58 -5.87 -457.27 -145.04 * Note: The latest data for services sector released by RBI is for October 2021. The data for November 2021 is an estimation, which will be revised based on RBI's subsequent release. (ii) Data for 2019, 2020 and April to June 2021 are revised on pro-rata basis using quarterly balance of payments data. Fig 1: Overall Trade during November 2021* * India's overall exports (Merchandise and Services combined) in April-November 2021* are estimated to be USD 418.74 Billion, exhibiting a positive growth of 37.21 per cent over the same period last year and a positive growth of 19.13 per cent over April-November 2019. Overall imports in April-November 2021* are estimated to be USD 472.95 Billion, exhibiting a positive growth of 61.02 per cent over the same period last year and a positive growth of 15.39 per cent over April-November 2019. Table 2: Trade during April-November ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021* April-November 2021 (USD Billion) April-November 2020 (USD Billion) April-November 2019 (USD Billion) Growth vis-à-vis April-November 2020 (%) Growth vis-à-vis April-November 2019 (%) Merchandise Exports 263.57 174.16 211.17 51.34 24.82 Imports 384.34 219.82 324.59 74.84 18.41 Trade Balance -120.76 -45.66 -113.42 -164.49 -6.47 Services* Exports 155.17 131.02 140.32 18.43 10.58 Imports 88.61 73.89 85.26 19.92 3.92 Net of Services 66.56 57.13 55.06 16.50 20.88 Overall Trade (Merchandise+ Services)* Exports 418.74 305.19 351.49 37.21 19.13 Imports 472.95 293.71 409.85 61.02 15.39 Trade Balance -54.21 11.47 -58.36 -572.43 7.12 * Note: The latest data for services sector released by RBI is for October 2021. The data for November 2021 is an estimation, which will be revised based on RBI's subsequent release. (ii) Data for 2019, 2020 and April to June 2021 are revised on pro-rata basis using quarterly balance of payments data. Fig 2: Overall Trade during April-November 2021* MERCHANDISE TRADE * Merchandise exports in November 2021 were USD 30.04 Billion, as compared to USD 23.62 Billion in November ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020, exhibiting a positive growth of 27.16 per cent. As compared to November 2019, exports in November 2021 exhibited a positive growth of 16.55 per cent. * Merchandise imports in November 2021 were USD 52.94 Billion, which is an increase of 56.58 per cent over imports of USD 33.81 Billion in November 2020. Imports in November 2021 have registered a positive growth of 37.44 per cent in comparison to November 2019. * The merchandise trade balance for November 2021 was estimated at USD (-) 22.91 Billion as against USD (-) 10.19 Billion in November 2020, which is a decline of (-) 124.77 per cent. As compared to November 2019 (USD (-) 12.75 Billion), trade balance in November 2021 exhibited a negative growth of (-) 79.65 per cent. Fig 3: Merchandise Trade during November 2021 * Merchandise exports for the period April-November 2021 was USD 263.57 Billion as against USD 174.16 Billion during the period April-November 2020, registering a positive growth of 51.34 per cent. As compared to April-November 2019, exports in April-November 2021 exhibited a positive growth of 24.82 per cent. * Merchandise imports for the period April-November 2021 was USD 384.34 Billion as against USD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 219.82 Billion during the period April-November 2020, registering a positive growth of 74.84 per cent. Imports in April-November 2021 have registered a positive growth of 18.41 per cent in comparison to April-November 2019. * The merchandise trade balance for April-November 2021 was estimated at USD (-) 120.76 Billion as against USD (-) 45.66 Billion in April-November 2020, which is a decline of (-) 164.49 per cent. As compared to April-November 2019 (USD (-) 113.42 Billion), trade balance in April-November 2021 exhibited a negative growth of (-) 6.47 per cent. Fig 4: Merchandise Trade during April- November 2021 * Non-petroleum and non-gems & jewellery exports in November 2021 were USD 23.68 Billion, registering a positive growth of 22.26 per cent over non-petroleum and non-gems & jewellery exports of USD 19.37 Billion in November 2020 and a positive growth of 22.28 per cent over non-petroleum and non-gems & jewellery exports of USD 19.37 Billion in November 2019. * Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 31.82 Billion in November 2021 with a positive growth of 40.64 per cent over Non-petroleum, non-gems & jewellery imports of U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SD 22.63 Billion in November 2020 and a positive growth of 41.82 per cent over Non-petroleum, non-gems & jewellery imports of USD 22.44 Billion in November 2019. Table 3: Trade excluding Petroleum and Gems & Jewellery during November 2021 November 2021 (USD Billion) November 2020 (USD Billion) November 2019 (USD Billion) Growth vis-à-vis November 2020 (%) Growth vis-à-vis November 2019 (%) Non- petroleum exports 26.08 22.06 21.95 18.19 18.78 Non- petroleum imports 38.27 27.50 27.45 39.17 39.38 Non-petroleum & Non Gems & Jewellery exports 23.68 19.37 19.37 22.26 22.28 Non-petroleum & Non Gems & Jewellery imports* 31.82 22.63 22.44 40.64 41.82 Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones Fig 5: Trade excluding Petroleum and Gems & Jewellery during November 2021 * Non-petroleum and non-gems & jewellery exports during April-November 2021 was USD 199.67 Billion, an increase of 38.08 per cent over non-petroleum and non-gems & jewellery exports of USD 144.60 Billion in April-November 2020 and an increase of 27.11 per cent over non-petroleum and non-gems & jewellery exports of USD 157.09 Bil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lion in April-November 2019. * Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 227.96 Billion in April-November 2021, recording a positive growth of 48.89 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 153.11 Billion in April-November 2020 and a positive growth of 13.48 per cent over USD 200.89 Billion in April-November 2019. Table 4: Trade excluding Petroleum and Gems & Jewellery during April-November 2021 April-November 2021 (USD Billion) April-November 2020 (USD Billion) April-November 2019 (USD Billion) Growth vis-à-vis April-November 2020 (%) Growth vis-à-vis April-November 2019 (%) Non- petroleum exports 225.59 158.91 182.66 41.96 23.50 Non- petroleum imports 282.25 175.50 238.60 60.83 18.29 Non-petroleum & Non Gems & Jewellery exports 199.67 144.60 157.09 38.08 27.11 Non-petroleum & Non Gems & Jewellery imports* 227.96 153.11 200.89 48.89 13.48 Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones Fig 6: Trade excluding Petroleum and Gems &Jewellery during April-November 2021 SERVICES TRADE * The estimated value of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ervices export for November 2021* is USD 20.33 Billion, exhibiting a positive growth of 16.88 per cent vis-a-vis November 2020 (USD 17.39 Billion) and a positive growth of 14.06 per cent vis-à-vis November 2019 (USD 17.82 Billion). * The estimated value of services import for November 2021* is USD 11.81 Billion exhibiting a positive growth of 20.71 per cent vis-à-vis November 2020 (USD 9.78 Billion) and a positive growth of 7.90 per cent vis-à-vis November 2019 (USD 10.94 Billion). * The services trade balance in November 2021* is estimated at USD 8.52 Billion, which is an increase of 11.95 per cent over November 2020 (USD 7.61 Billion) and an increase of 23.84 per cent over November 2019 (USD 6.88 Billion). Fig 7: Services Trade during November 2021* * The estimated value of services export for April-November 2021* is USD 155.17 Billion, exhibiting a positive growth of 18.43 per cent vis-a-vis April-November 2020 (USD 131.02 Billion) and a positive growth of 10.58 per cent vis-à-vis April-November 2019 (USD 140.32 Billion). * The estimated value of services imports for April-November 2021* is USD 88.61 Billion exhibiting a positive growth of 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .92 per cent vis-à-vis April-November 2020 (USD 73.89 Billion) and a positive growth of 3.92 per cent vis-à-vis April-November 2019 (USD 85.26 Billion). * The services trade balance for April-November 2021 was estimated at USD 66.56 Billion as against USD 57.13 Billion in April-November 2020, which is an increase of 16.50 per cent. As compared to April-November 2019 (USD 55.06 Billion), net of services in April-November 2021 exhibited a positive growth of 20.88 per cent. Fig 8: Services Trade during April-November 2021* Table 5: Export Growth in Commodity Groups in November 2021 Sl. No. Commodities (Values in Million USD) % Change NOV'20 NOV'21 NOV'21 Commodity groups exhibiting positive growth 1 Petroleum Products 1557.36 3959.13 154.22 2 Coffee 45.08 75.34 67.12 3 Plastic & Linoleum 507.25 724.39 42.81 4 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 872.55 1227.83 40.72 5 Engineering Goods 5896.67 8077.46 36.98 6 Other cereals 63.21 85.42 35.14 7 Organic & Inorganic Chemicals 1694.92 2246.50 32.54 8 Leather & leather products 273.30 356.56 30.47 9 Jute Mfg. including Floor Covering 32.76 42.63 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 30.11 10 Electronic Goods 1121.17 1455.58 29.83 11 Marine Products 586.64 754.00 28.53 12 Man-made Yarn/Fabs./made-ups etc. 340.54 428.36 25.79 13 Mica, Coal & Other Ores, Minerals including processed minerals 326.82 394.49 20.71 14 Rice 563.72 658.90 16.89 15 Fruits & Vegetables 161.80 186.58 15.31 16 Cereal preparations & miscellaneous processed items 154.88 163.84 5.79 17 RMG of all Textiles 1043.75 1072.17 2.72 18 Spices 313.86 317.72 1.23 19 Carpet 146.95 148.63 1.15 Sl. No. Commodities (Values in Million USD) % Change NOV'20 NOV'21 NOV'21 Commodity Groups exhibiting negative growth 20 Iron Ore 328.58 23.05 -92.98 21 Oil Meals 140.15 104.39 -25.51 22 Tobacco 76.69 62.72 -18.21 23 Tea 71.61 62.58 -12.62 24 Oil seeds 153.22 135.69 -11.44 25 Gems & Jewellery 2690.83 2392.20 -11.10 26 Handicrafts excl. hand made carpet 173.38 159.71 -7.89 27 Drugs & Pharmaceuticals 1963.40 1825.36 -7.03 28 Ceramic products & glassware 263.48 251.09 -4.70 29 Meat, dairy & poultry products 392.59 379.06 -3.45 30 Cashew 37.72 36.91 -2.15 Table 6: Import Growth in Commodity Gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oups in November 2021 Sl. No. Commodities (Values in Million USD) % Change NOV'20 NOV'21 NOV'21 Commodity Groups exhibiting positive growth 1 Silver 9.27 244.56 2538.19 2 Sulphur & Unroasted Iron Pyrts 9.32 47.87 413.63 3 Coal, Coke & Briquettes, etc. 1517.08 3577.42 135.81 4 Petroleum, Crude & products 6314.81 14677.80 132.43 5 Metaliferrous ores & other minerals 434.15 963.15 121.85 6 Pulp and Waste paper 67.22 148.30 120.62 7 Project goods 64.79 122.33 88.81 8 Vegetable Oil 981.38 1754.92 78.82 9 Organic & Inorganic Chemicals 1515.51 2523.91 66.54 10 Newsprint 14.84 24.70 66.44 11 Artificial resins, plastic materials, etc. 1156.63 1859.00 60.73 12 Fertilisers, Crude & manufactured 898.16 1442.40 60.59 13 Dyeing/tanning/colouring mtrls. 233.84 359.98 53.94 14 Leather & leather products 45.11 68.22 51.23 15 Iron & Steel 986.14 1485.81 50.67 16 Gold 3022.59 4221.66 39.67 17 Cotton Raw & Waste 18.94 26.17 38.17 18 Medcnl. & Pharmaceutical products 534.89 735.70 37.54 19 Wood & Wood products 361.92 487.63 34.73 20 Machine tools 248.17 333.30 34.30 21 Non-ferrous ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... metals 1154.69 1521.16 31.74 22 Textile yarn Fabric, made-up articles 139.91 181.84 29.97 23 Machinery, electrical & non-electrical 2568.89 3274.31 27.46 24 Pulses 223.42 275.99 23.53 25 Electronic goods 4695.06 5714.68 21.72 26 Chemical material & products 785.06 912.58 16.24 27 Professional instrument, Optical goods, etc. 374.05 413.43 10.53 28 Pearls, precious & Semi-precious stones 1839.14 1978.67 7.59 Sl. No. Commodities (Values in Million USD) % Change NOV'20 NOV'21 NOV'21 Commodity Groups exhibiting negative growth 29 Transport equipment 1682.44 1357.83 -19.29 30 Fruits & vegetables 303.12 258.56 -14.70 Table 7: MERCHANDISE TRADE EXPORTS & IMPORTS: (Rs. Crore) (PROVISIONAL) NOVEMBER APRIL-NOVEMBER EXPORTS(including re-exports) 2019-20 1,84,142.27 14,84,386.50 2020-21 1,75,306.78 12,99,725.47 2021-22 2,23,755.78 19,53,860.28 %Growth 2021-22/ 2020-21 27.64 50.33 %Growth 2021-22/ 2019-20 21.51 31.63 IMPORTS 2019-20 2,75,255.20 22,80,659.04 2020-21 2,50,954.16 16,40,286.15 2021-22 3,94,419.58 28,50,142.12 %Growth 2021-22/ 2020-21 57.17 73.76 %Growth 2021-22/ 2019-20 43.29 24. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 97
TRADE BALANCE
2019-20
-91,112.93
-7,96,272.55
2020-21
-75,647.38
-3,40,560.67
2021-22
-1,70,663.80
-8,96,281.84
Table 8: SERVICES TRADE
EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(PROVISIONAL)
October 2021
April-
October 2021
EXPORTS (Receipts)
19.85
134.84
IMPORTS (Payments)
11.61
76.80
TRADE BALANCE
8.24
58.04
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)
October 2021
April-
October 2021
EXPORTS (Receipts)
1,48,669.41
9,98,707.75
IMPORTS (Payments)
86,939.21
5,68,891.46
TRADE BALANCE
61,730.21
4,29,816.29
Source: RBI Press Release dated 1stDecember 2021 X X X X Extracts X X X X X X X X Extracts X X X X
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