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TMI BlogIndia’s overall exports in September 2022 estimated to be USD 61.10 Billion, exhibiting a growth of 10.24 per cent over the same period last yearX X X X Extracts X X X X X X X X Extracts X X X X ..... India’s overall exports in September 2022 estimated to be USD 61.10 Billion, exhibiting a growth of 10.24 per cent over the same period last year - News and Press Release Dated:- 15-10-2022 - News - India s overall exports in September 2022 estimated to be USD 61.10 Billion, exhibiting a growth of 10.24 per cent over the same period last year India s overall exports in April-September 2022 estimated to be USD 382.31 Billion, exhibiting a growth of 21.03 per cent over the same period last year Estimated value of services export for September 2022 is USD 25.65 Billion, exhibiting a growth of 18.72 per cent vis-a-vis September 2021 (USD 21.61 Billion) INDIA S FOREIGN TRADE: September 2022 India s overall exports (Merchandise and Services combined) in September 2022* are estimated to be USD 61.10 Billion, exhibiting a positive growth of 10.24 per cent over the same period last year. Overall imports in September 2022* are estimated to be USD 76.26 Billion, exhibiting a positive growth of 10.73 per cent over the same period last year. Table 1: Trade during September 2022* September 2022 (USD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Billion) September 2021 (USD Billion) Growth vis- -vis September 2021 (%) Merchandise Exports 35.45 33.81 4.82 Imports 61.16 56.29 8.66 Trade Balance -25.71 -22.47 -14.42 Services* Exports 25.65 21.61 18.72 Imports 15.10 12.58 20.00 Net of Services 10.56 9.03 16.94 Overall Trade (Merchandise+ Services) * Exports 61.10 55.42 10.24 Imports 76.26 68.87 10.73 Trade Balance -15.16 -13.44 -12.74 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * Note: The latest data for services sector released by RBI is for August 2022. The data for September 2022 is an estimation, which will be revised based on RBI s subsequent release. (ii) Data for April-September2021 and April-June 2022 has been revised on pro-rata basis using quarterly balance of payments data. Fig 1: Overall Trade during September 2022* India s overall exports (Merchandise and Services combined) in April-September 2022* are estimated to be USD 382.31 Billion, exhibiting a positive growth of 21.03 per cent over the same period last year. Overall imports in April-September 2022* are estimated to be USD 469.47 Billion, exhibiting a positive growth of 37.77 per cent over the same period last year. Table 2: Trade during April-September 2022* April-September 2022 (USD Billion) April-September 2021 (USD Billion) Growth vis- -vis April-September 2021 (%) Merchandise Exports 231.88 198.25 16.96 Imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orts 380.34 274.50 38.55 Trade Balance -148.46 -76.25 -94.69 Services* Exports 150.43 117.63 27.88 Imports 89.13 66.25 34.54 Net of Services 61.30 51.39 19.30 Overall Trade (Merchandise+ Services) * Exports 382.31 315.89 21.03 Imports 469.47 340.75 37.77 Trade Balance -87.16 -24.86 -250.51 * Note: The latest data for services sector released by RBI is for August 2022. The data for September 2022 is an estimation, which will be revised based on RBI s subsequent release. (ii) Data for April-September2021 and April-June 2022 has been revised on pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -rata basis using quarterly balance of payments data. Fig 2: Overall Trade during April-September 2022* MERCHANDISE TRADE Merchandise exports in September 2022 were USD 35.45 Billion, as compared to USD 33.81 Billion in September 2021, exhibiting a positive growth of 4.82 per cent. Merchandise imports in September 2022 were USD 61.16 Billion, which is an increase of 8.66 per cent over imports of USD 56.29 Billion in September 2021. The merchandise trade deficit in September 2022 was estimated at USD 25.71 Billion as against USD 22.47 Billion in September 2021, which is an increase of 14.42 per cent. Fig 3: Merchandise Trade during September 2022 Merchandise exports for the period April-September 2022 were USD 231.88 Billion as against USD 198.25 Billion during the period April-September 2021, registering a positive growth of 16.96 per cent. Merchandise imports for the period April-September 2022 were USD 380.34 Billion as against USD 274.50 Billion during the period April-September 2021, registering a positive growth of 38.55 per cent. The merchandise trade deficit for April-September 2022 was estimated at US ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D 148.46 Billion as against USD 76.25 Billion in April-September 2021, which is an increase of 94.69 per cent. Fig 4: Merchandise Trade during April-September 2022 Non-petroleum and non-gems jewellery exports in September 2022 were USD 24.22 Billion, registering a negative growth of (-) 4.58 per cent over non-petroleum and non-gems jewellery exports of USD 25.38 Billion in September 2021. Non-petroleum, non-gems jewellery (gold, silver precious metals) imports were USD 37.71 Billion in September 2022 with a positive growth of 20.64 per cent over Non-petroleum, non-gems jewellery imports of USD 31.26 Billion in September 2021. Table 3: Trade excluding Petroleum and Gems Jewellery during September 2022 September 2022 (USD Billion) September 2021 (USD Billion) Growth vis- -vis September 2021 (%) Non- petroleum exports 28.02 28.62 -2.11 Non- petroleum imports 45.28 39.51 14.62 Non- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petroleum Non Gems Jewellery exports 24.22 25.38 -4.58 Non-petroleum Non Gems Jewellery imports 37.71 31.26 20.64 Note: Gems Jewellery Imports include Gold, Silver Pearls, precious Semi-precious stones Fig 5: Trade excluding Petroleum and Gems Jewellery during September 2022 Non-petroleum and non-gems jewellery exports during April-September 2022 was USD 160.00 Billion, an increase of 6.41 per cent over non-petroleum and non-gems jewellery exports of USD 150.37 Billion in April-September 2021. Non-petroleum, non-gems jewellery (gold, silver precious metals) imports were USD 223.99 Billion in April-September 2022, recording a positive growth of 35.18 per cent, as compared to Non-petroleum, non-gems jewellery imports of USD 165.70 Billion in April-September 2021. Table 4: Trade excluding Petroleum and Gems Jewellery during April-September 2022 April-September 2022 (USD Billion) April-September 2021 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... USD Billion) Growth vis- -vis April-September 2021 (%) Non- petroleum exports 180.64 169.67 6.47 Non- petroleum imports 265.08 204.97 29.33 Non-petroleum Non Gems Jewellery exports 160.00 150.37 6.41 Non-petroleum Non Gems Jewellery imports 223.99 165.70 35.18 Note: Gems Jewellery Imports include Gold, Silver Pearls, precious Semi-precious stones Fig 6: Trade excluding Petroleum and Gems Jewellery during April-September 2022 SERVICES TRADE The estimated value of services export for September 2022* is USD 25.65 Billion, exhibiting a positive growth of 18.72 per cent vis-a-vis September 2021 (USD 21.61 Billion). The estimated value of services import for September 2022* is USD 15.10 Billion exhibiting a positive growth of 20.00 per cent vis- -vis September 2021 (USD 12.58 Billion). The services trade balance in Septembe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 2022* is estimated at USD 10.56 Billion, which is an increase of 16.94 per cent over September 2021 (USD 9.03 Billion). Fig 7: Services Trade during September 2022* The estimated value of services export for April-September 2022* is USD 150.43 Billion, exhibiting a positive growth of 27.88 per cent vis-a-vis April-September 2021 (USD 117.63 Billion). The estimated value of services imports for April-September 2022* is USD 89.13 Billion exhibiting a positive growth of 34.54 per cent vis- -vis April-September 2021 (USD 66.25 Billion). The services trade balance for April-September 2022* is estimated at USD 61.30 Billion as against USD 51.39 Billion in April-September 2021, which is an increase of 19.30 per cent. Fig 8: Services Trade during April-September 2022* Table 5: Export Growth in Commodity Groups in September 2022 Sl. No. Commodities (Values in Million USD) % Change SEP'21 SEP'22 SEP'22 Commodity groups exhibiting posi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive growth 1 Electronic Goods 1168.11 2009.07 71.99 2 Tobacco 77.23 125.24 62.16 3 Petroleum Products 5195.49 7429.84 43.01 4 Oil seeds 50.32 59.11 17.47 5 Gems Jewellery 3235.20 3793.85 17.27 6 Coffee 82.75 94.24 13.89 7 Fruits Vegetables 235.26 266.08 13.10 8 Tea 77.52 85.91 10.82 9 Leather leather products 384.83 419.37 8.98 10 Cereal preparations miscellaneous processed items 180.36 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 194.15 7.65 11 Mica, Coal Other Ores, Minerals including processed minerals 397.28 426.32 7.31 12 Drugs Pharmaceuticals 2055.40 2196.32 6.86 13 Spices 309.94 330.46 6.62 14 Marine Products 678.44 720.98 6.27 15 Organic Inorganic Chemicals 2373.29 2443.50 2.96 16 Rice 779.81 792.50 1.63 17 Oil Meals 62.09 62.26 0.27 Sl. No. Commodities (Values in Million USD) % Change SEP'21 SEP'22 SEP'22 Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... odity Groups exhibiting negative growth 18. Iron Ore 82.59 2.72 -96.71 19 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 1310.49 799.57 -38.99 20 Cashew 36.66 22.71 -38.05 21 Handicrafts excl. handmade carpet 184.95 123.75 -33.09 22 Carpet 157.83 105.95 -32.87 23 Other cereals 72.56 52.91 -27.08 24 RMG of all Textiles 1301.11 1066.18 -18.06 25 Jute Mfg. including Floor Covering 40.96 34.36 -16.11 26 Ceramic products glassware 274.09 240.63 -1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.21 27 Plastic Linoleum 752.48 660.66 -12.20 28 Man-made Yarn/Fabs./made-ups etc. 455.84 400.96 -12.04 29 Engineering Goods 9417.37 8395.49 -10.85 30 Meat, dairy poultry products 348.88 334.04 -4.25 Table 6: Import Growth in Commodity Groups in September 2022 Sl. No. Commodities (Values in Million USD) % Change SEP'21 SEP'22 SEP'22 Commodity Groups exhibiting positive growth 1 Cotton Raw Waste 44.02 317.30 620.81 2 Silver 559.77 1054.09 88.31 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Transport equipment 1764.76 2921.76 65.56 4 Pulp and Waste paper 111.09 182.79 64.54 5 Coal, Coke Briquettes, etc. 2189.06 3520.48 60.82 6 Fertilisers, Crude manufactured 1201.17 1780.86 48.26 7 Leather leather products 65.75 96.18 46.28 8 Iron Steel 1347.81 1876.53 39.23 9 Textile yarn Fabric, made-up articles 166.47 219.68 31.96 10 Newsprint 36.19 46.83 29.40 11 Professional instrument, Optical goods, etc. 459.75 584.70 27.18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12 Wood Wood products 484.93 582.85 20.19 13 Machinery, electrical non-electrical 3192.32 3720.63 16.55 14 Artificial resins, plastic materials, etc. 1651.45 1843.74 11.64 15 Chemical material products 878.97 961.68 9.41 16 Electronic goods 6882.58 7142.53 3.78 17 Pearls, precious Semi-precious stones 2571.63 2658.51 3.38 18 Non-ferrous metals 1460.87 1504.32 2.97 19 Organic Inorganic Chemicals 2485.79 2495.63 0.40 Sl. No. Commodities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Values in Million USD) % Change SEP'21 SEP'22 SEP'22 Commodity Groups exhibiting negative growth 20 Sulphur Unroasted Iron Pyrites 55.13 38.38 -30.38 21 Gold 5115.76 3856.32 -24.62 22 Pulses 195.65 158.46 -19.01 23 Machine tools 439.56 369.29 -15.99 24 Metaliferrous ores other minerals 839.56 745.75 -11.17 25 Dyeing/tanning/colouring materials 346.08 313.09 -9.53 26 Project goods 65.38 59.45 -9.07 27 Medicinal Pharmaceutical products ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 637.83 601.11 -5.76 28 Petroleum, Crude products 16779.20 15875.96 -5.38 29 Fruits vegetables 222.99 217.91 -2.28 30 Vegetable Oil 1999.92 1958.66 -2.06 Table 7: MERCHANDISE TRADE EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) SEPTEMBER APRIL-SEPTEMBER EXPORTS (including re-exports) 2021-22 2,48,751.78 14,65,718.25 2022-23 2,84,384.30 18,18,827.25 %Growth 2022-23/2021-22 14.32 24.09 IMPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021-22 4,14,062.06 20,29,601.74 2022-23 4,90,683.85 29,86,137.05 %Growth 2022-23/2021-22 18.50 47.13 TRADE BALANCE 2021-22 -1,65,310.28 -5,63,883.49 2022-23 -2,06,299.55 -11,67,309.79 Table 8: SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) August 2022 April-August 2022 EXPORTS (Receipts) 25.42 124.78 IMPORTS (Payments) 15.08 74.03 TRADE BALANCE 10.34 50.75 EXPORTS IMPORTS (SERVICES): (Rs. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rore) (PROVISIONAL) August 2022 April-August 2022 EXPORTS (Receipts) 2,02,196.99 9,75,056.64 IMPORTS (Payments) 1,19,968.94 5,78,544.47 TRADE BALANCE 82,228.05 3,96,512.17 Source: RBI Press Release dated 3 rd October 2022 Link 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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