INDIA’S MERCHANDISE TRADE: Preliminary Data, November 2020

India’s merchandise exports in November 2020 were USD 23.43 billion, as compared to USD 25.77 billion in November 2019, a fall of 9.07%.

India’s merchandise imports in November 2020 were USD 33.39 billion, as compared to USD 38.52 billion in November 2019, a decline of 13.33%.

India is thus a net importer in November 2020, with a trade deficit of USD 9.96 billion, as compared to trade deficit of USD 12.75 billion, improvement by 21.93%.

Value of non-petroleum and non-gems and jewellery exports in November 2020 was USD 19.26 billion, as compared to USD 19.37 billion in November 2019, a negative growth of 0.59%.

Non-oil, non-GJ (gold, silver & Precious metals) imports were USD 22.25 billion in November 2020, as compared to non-oil and non-GJ imports of USD 22.44 billion in November 2019, a negative growth of 0.84%.

Top 5 commodity groups of export which have recorded positive growth during November 2020 vis-à-vis November 2019 are: Other Cereals (164.67%), Oil meals (70.54%), Iron Ore (68.15%), Rice (24.41%), Ceramic Products and Glassware (20.98%).

Top 5 commodity groups of import showing a fall in November 2020 vis-à-vis November 2019 are: Silver (-89.71%), Cotton Raw and Waste (-74.09%), Newsprint (-69.96%), Project goods (-53.01%), Leather & leather products(-46.81%).

India’s merchandise exports in November 2020 were USD 23.43 billion, as compared to USD 25.77 billion in November 2019, a fall of 9.07%. Exports during April-November 2020-21 were USD 173.49 billion, as compared to USD 211.17 billion during the same period last year, exhibiting a negative growth of 17.84%.

India’s merchandise imports in November 2020 were USD 33.39 billion, as compared to USD 38.52 billion in November 2019, a decline of 13.33%. Merchandise imports during April-November 2020-21 were USD 215.67 billion, as compared to USD 324.59 billion during the same period last year, exhibiting a negative growth of 33.56%.

India is thus a net importer in November 2020, with a trade deficit of USD 9.96 billion, as compared to trade deficit of USD 12.75 billion, improvement by 21.93%.

In November 2020, the value of non-petroleum exports was USD 21.95 billion, registering a negative growth of 0.03% over November 2019. The value of non-petroleum and non-gems and jewellery exports in November 2020 was USD 19.26 billion as compared to USD 19.37 billion in November 2019, registering a negative growth of 0.59%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-November 2020-21 was USD 144.04 billion, as compared to USD 157.09 billion for the corresponding period in 2019-20, exhibiting a decrease of 8.30%.

In November 2020, Oil imports were USD 6.27 billion, as compared to USD 11.07 billion in November 2019, a decline by 43.36%. Oil imports in April-November 2020-21 were USD 44.10 billion, as compared to USD 85.99 billion, showing a decline of 48.71%.

Non-oil imports in November 2020 were estimated at USD 27.12 billion, as compared to USD 27.45 billion in November 2019, showing a decline of 1.22%. Non-oil imports in April-November 2020-21 were USD 171.57 billion, as compared to USD 238.60 billion, registering a decline of 28.09% during the same period of the last year.

Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 22.25 billion in November 2020, recording a negative growth of 0.84%, as compared to non-oil and non-GJ imports of USD 22.44 billion in November 2019. Non-oil and non-GJ imports were USD 149.17 billion in April-November 2020-21, recording a negative growth of 25.74%, as compared to non-oil and non-GJ imports of USD 200.89 billion in April-November 2019-20.

Major commodities of export which have recorded positive growth during November 2020 vis-à-vis November 2019 are: Other cereals (164.67%), Oil meals (70.54%), Iron ore (68.15%), Rice (24.41%), Ceramic products and glassware (20.98%), Handicrafts excl. Hand-made carpet (17.71%), Cereal preparations and miscellaneous processed item (16.75%), Carpet (15.58%), Jute mfg. Including floor covering (14.06%),Spices (12.12%), Drugs and pharmaceuticals (11.13%), Tobacco (8.64%), Cotton yarn/fabrics/made-ups, handloom products etc. (8.38%), Fruits and vegetables (5.33%), Tea (5.02%), Gems and Jewellery (4.11%), Mica, coal and other ores, minerals including process (2.23%),Meat, dairy and poultry products (1.34%), Electronic Goods (0.95%).

Major commodities of export which have recorded negative growth during November 2020 vis-à-vis November 2019 are Petroleum products (61.05%), Leather and leather manufactures (29.80%), Cashew (24.90%), Plastic and linoleum (23.34%), Marine products (16.11%), Oil Seeds (15.30%), Man-made yarn/fabrics/made-ups etc. (11.14%), Engineering goods (8.27%), Organic and Inorganic Chemicals (8.09%), Coffee (1.27%), RMG of All Textiles (1.20%).

Major commodity groups of import showing positive growth in November 2020 over the corresponding month of last year are: Fruits & vegetables (66.81%), Chemical material & products (36.08%), Vegetable Oil (34.02%), Fertilisers, Crude & manufactured (29.25%), Pulses (18.16%), Dyeing/tanning/colouring materials (18.07%), Electronic goods (12.25%), Non-ferrous metals (9.04%), Metaliferrous ores & other minerals (4.15%), Gold (2.65%), Medcnl. & Pharmaceutical products (0.88%).

Major commodity groups of import showing negative growth in November 2020 over the corresponding month of last year are: Silver (89.71%), Cotton Raw & Waste (74.09%), Newsprint (69.96%), Project Goods (53.01%), Leather & leather products (46.81%), Petroleum, Crude & products (43.36%), Sulphur & Unroasted Iron Pyrites (34.64%),Machine tools (26.55%), Wood & Wood products (19.81%), Transport equipment (19.62%), Pulp and Waste paper (17.09%), Machinery, electrical & non-electrical (13.37%), Textile yarn Fabric, made-up articles (13.09%), Coal, Coke & Briquettes, etc. (12.15%), Iron & Steel (10.14%), Professional instrument, Optical goods, etc. (8.30%), Pearls, precious & Semi-precious stones (7.16%),Artificial resins, plastic materials, etc. (3.45%), Organic & Inorganic Chemicals (3.23%).

MERCHANDISE TRADE: Preliminary Data, November 2020

Summary Value in USD Billion

	Total			Non-Petroleum				Non- Petroleum and Non-Gems &Jewellery
	2019-20	2020-21	% change	2019-20	2020-21	% change	2019-20		2020-21	% change
Exports	25.77	23.43	-9.07	21.95	21.95	-0.03	19.37		19.26	-0.59
Imports	38.52	33.39	-13.33	27.45	27.12	-1.22	22.44		22.25	-0.84
Deficit	-12.75	-9.96	-21.93	-5.5	-5.17	-5.95	-3.07		-2.99	-2.47

Change by top Commodity Groups

Value in USD Million

	Top Increase in November 2020 as compared to November 2019			Top Decline in November 2020 as compared to November 2019
	Commodity group	Change in value	% change	Commodity group	Change in value	% change
Export	DRUGS AND PHARMACEUTICALS	199.15	11.13	PETROLEUM PRODUCTS	-2330.61	-61.05
	IRON ORE	133.12	68.15	ENGINEERING GOODS	-529.56	-8.27
	RICE	108.47	24.41	PLASTIC AND LINOELUM	-154.23	-23.34
Import	Electronic goods	512.58	12.25	Petroleum, Crude & products	-4799.93	-43.36
	Vegetable Oil	249.17	34.02	Machinery, electrical & non-electrical	-395.88	-13.37
	Chemical material & products	208.24	36.08	Transport equipment	-321.04	-19.62

 

Trade balance improved as imports fell more sharply than exports, narrowing the merchandise deficit in November. India's merchandise exports and imports both declined in November 2020 versus November 2019, with exports down 9.07% and imports down 13.33%, producing a narrower monthly trade deficit. Non-petroleum and non-gems-and-jewellery exports and non-oil non-gems-and-jewellery imports registered modest negative growth. Oil imports fell sharply and contributed significantly to import contraction. Commodity movements were mixed: cereals, oil meals and iron ore rose strongly, while petroleum products, leather manufactures and several manufactured and capital goods declined; the release provides headline aggregates and top commodity increases and decreases.