April-June sees highest-ever quarterly growth in exports in INDIA

India’s merchandise exports in April-June 2021 was valued at $95.36 billion, a stupendous increase of 85.36% over the $51.44 billion in April-June 2020 and up 17.85% over $80.91 billion in April-June 2019.

Merchandise exports in June 2021 was $32.46 billion, up 47.34% over $22.03 billion in June 2020 and 29.7% over $25.03 billion in June 2019, highlighted a Ministry of Commerce & Industry release.

Reacting to the trade data, Dr A. Sakthivel, President, FIEO said the highest-ever quarterly growth in exports not only shows the resilience of the exports sector but also the strength of the Indian economy. He reaffirmed his faith in the country’s exporting community, pointing out that they have been continuously able to perform with vigour and dynamism even in these difficult and challenging times.

Merchandise imports

India’s merchandise imports in June 2021 was $41.86 billion, an increase of 96.33% over $21.32 billion in June 2020 and 2.03% over $41.03 billion in June 2019. Merchandise imports in April-June 2021 was $126.14 billion, up 107.99% over $60.65 billion in April-June 2020 and a decrease of 3.05% over $130.1 billion in April-June 2019.

India was thus a net importer in June 2021 with a trade deficit of $9.4 billion, widened by 1,426.6% over the trade surplus of $0.71 billion in June 2020 (India was a net exporter in June 2020) and narrowed down by 41.26% over the trade deficit of $16 billion in June 2019.

Key export commodities

The top 5 commodity groups of export which recorded positive growth during June 2021 vis-à-vis June 2020 were other Cereals (237.96%), petroleum products (105.2%), man-made yarn/fabrics/made-ups etc. (81.62%), gems and jewellery (80.49%), and meat, dairy and poultry products (61.8%).

Major commodity groups of export showing positive growth in June 2021 over June 2019 were other cereals (299.29%), iron ore (134.46%), organic and inorganic chemicals (62.41%), cereal preparations and miscellaneous processed items (56.63%), oil meals (53.99%), cotton yarn/fabrics/made-ups, handloom products etc. (50.86%), petroleum products (49.82%), plastic and linoleum (46.84%), rice (43.82%), engineering goods (41.66%), carpets (25.15%), jute mfg. including floor coverings (23.97%), man-made yarn/fabrics/made-ups etc. (23.66%), mica, coal and other ores, minerals including process (22.43%), ceramic products and glassware (21.81%), marine products (20.71%), fruits and vegetables (20.38%), meat, dairy and poultry products (19.92%), handicrafts excl. hand-made carpets (18.83%), coffee (15.73%), tobacco (12.95%), electronic goods (11.89%), drugs and pharmaceuticals (9.9%), spices (8.7%), and oil seeds (1.24%).

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source: eximin.net