INDIA’S MERCHANDISE TRADE Preliminary Data for December 2020

India’s merchandise exports in December 2020 was USD 26.89 billion, as compared to USD 27.11 billion in December 2019 a marginal fall of 0.80%

India’s merchandise imports in December 2020 was USD 42.60 billion, as compared to USD 39.59 billion in December 2019 an increment of 7.6%

India is a net importer in December 2020, with a trade deficit of USD 15.71 billion as compared to trade deficit of USD 12.49 billion in December 2019

Value of non-petroleum and non-gems and jewellery exports in December 2020 was USD 22.15 billion, as compared to USD 21.06 billion in December 2019, a growth of 5.17%

Non-oil, non-GJ imports were USD 26.10 billion in December 2020 as compared to USD 24.07 billion in December 2019, a growth of 8.42%

Top 5 commodity groups of export having recorded positive growth during December 2020 vis-à-vis December 2019: Other Cereals (262.62%), Oil meals (192.60%), Iron Ore (69.26%), Cereal preparations and miscellaneous processed item(45.41%), Jute manufacturing including floor covering(21.93%)

Top 5 commodity groups of import showing a fall in December 2020 vis-à-vis December 2019: Silver (-90.52%), Newsprint (-76.27%), Leather & leather products(-38.93%), Transport equipment (-32.05%), Cotton Raw and Waste (-28.79%)

India’s merchandise exports in December 2020 was USD 26.89 billion, as compared to USD 27.11 billion in December 2019, a marginal fall of 0.80%. Exports during April-December 2020-21 were USD 200.55 billion, as compared to USD 238.27 billion during the same period last year, exhibiting a negative growth of 15.8%.

India’s merchandise imports in December 2020 were USD 42.60 billion, as compared to USD 39.59 billion in December 2019, an increase of 7.6%. Merchandise imports during April-December 2020-21 were USD 258.29 billion, as compared to USD 364.18 billion during the same period last year, exhibiting a negative growth of 29.08%.

India is thus a net importer in December 2020, with a trade deficit of USD 15.71 billion, as compared to trade deficit of USD 12.49 billion, widened by 25.78%.

In December 2020, the value of non-petroleum exports was USD 24.73 billion, registering a positive growth of 5.33% over December 2019. The value of non-petroleum and non-gems and jewellery exports in December 2020 was USD 22.15 billion as compared to USD 21.06 billion in December 2019, registering a positivegrowth of 5.17%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-December 2020-21 was USD 166.26 billion, as compared to USD 178.15 billion for the corresponding period in 2019-20, exhibiting a decrease of 6.7%.

In December 2020, Oil imports were USD 9.61 billion, as compared to USD 10.72 billion in December 2019, a decline by 10.37%. Oil imports in April-December 2020-21 were USD 53.71 billion, as compared to USD 96.71 billion, showing a decline of 44.46%.

Non-oil imports in December 2020 were estimated at USD 33.0 billion, as compared to USD 28.88 billion in December 2019, showing an increase of 14.27%. Non-oil imports in April-December 2020-21 were USD 204.57 billion, as compared to USD 267.47 billion, registering a decline of 23.52% during the same period of the last year.

Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 26.10 billion in December 2020, recording a positive growth of 8.42%, as compared to non-oil and non-GJ imports of USD 24.07 billion in December 2019. Non-oil and non-GJ imports were USD 175.29 billion in April-December 2020-21, recording a negative growth of 22.08%, as compared to non-oil and non-GJ imports of USD 224.96 billion in April-December 2019-20.

Major commodities of export which have recorded positive growth during December 2020 vis-à-vis December 2019 are: Other cereals (262.62%), Oil meals (192.60%), Iron ore (69.26%), Cereal preparations and miscellaneous processed item (45.41%), Jute mfg. Including floor covering (21.93%), Handicrafts excl. Hand-made carpet (21.70%), Carpet (21.12%), Ceramic products and glassware (19.11%), Drugs and pharmaceuticals (17.44%), Spices (17.06%), Electronic Goods (16.44%), Fruits and vegetables (12.82%), Organic and Inorganic Chemicals (10.73%), Cotton yarn/fabrics/made-ups, handloom products etc. (10.09%),  Rice (8.60%), Meat, dairy and poultry products (6.79%), Gems and Jewellery (6.75%), Mica, coal and other ores, minerals including process (6.02%), Tea (4.47%), Engineering goods (0.12%).

Major commodities of export which have recorded negative growth during December 2020 vis-à-vis December 2019 are Petroleum products (40.47%), Oil Seeds (31.80%), Leather and leather manufactures (17.74%), Coffee (16.39%), RMG of All Textiles (15.07%), Man-made yarn/fabrics/made-ups etc. (14.61%), Marine products (14.27%), Cashew (12.04%), Plastic and linoleum (7.43%), Tobacco (4.95%).

Major commodity groups of import showing positive growth in December 2020 over the corresponding month of last year are: Pulses (245.15%), Sulphur & Unroasted Iron Pyrites (197.41%), Gold (81.82%), Vegetable Oil (43.50%), Chemical material & products (41.51%), Dyeing/tanning/colouring materials (32.64%), Artificial resins, plastic materials, etc. (32.20%), Non-ferrous metals (28.11%), Organic & Inorganic Chemicals (23.30%), Electronic goods (20.90%),Textile yarn Fabric, made-up articles (18.39%), Project Goods (15.27%), Wood & Wood products (14.03%), Machine tools (13.46%), Iron & Steel (12.67%), Pearls, precious & Semi-precious stones (7.81%), Fertilisers, Crude & manufactured (1.42%),  Medicinal & Pharmaceutical products (1.2%), Machinery, electrical & non-electrical (0.57%), Fruits & vegetables (0.34%).

Major commodity groups of import showing negative growth in December 2020 over the corresponding month of last year are: Silver (90.52%), Newsprint (76.27%), Leather & leather products (38.93%), Transport equipment (32.05%), Cotton Raw & Waste (28.79%), Metaliferrous ores & other minerals (24.42%),Pulp and Waste paper (12.11%),Petroleum, Crude & products (10.37%), Coal, Coke & Briquettes, etc. (7.27%), Professional instrument, Optical goods, etc. (1.54%).

MERCHANDISE TRADE: Preliminary Data, December 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	27.11	26.89	-0.80	23.48	24.73	5.33	21.06		22.15	5.17
Imports	39.59	42.60	7.6	28.88	33.00	14.27	24.07		26.10	8.42
Deficit	-12.48	-15.71	-25.88	-5.4	-8.27	-53.15	-3.01		-3.95	-31.23

 Change by top Commodity Groups

Value in USD Million

	Top Increase in December 2020 as compared to December 2019			Top Decline in December 2020 as compared to December 2019
	Commodity group	Change in value	% change	Commodity group	Change in value	% change
Export	DRUGS AND PHARMACEUTICALS	327.27	17.44	PETROLEUM PRODUCTS	-1469.85	-40.47
	ORGANIC AND INORGANIC CHEMICALS	202.28	10.73	RMG OF ALL TEXTILES	-212.11	-15.07
	ELECTRONIC GOODS	176.75	16.44	MARINE PRODUCTS	-93.69	-14.27
Import	Gold	2018.55	81.82	Petroleum, Crude & products	-1111.28	-10.37
	Electronic goods	870.95	20.90	Transport equipment	-1029.51	-32.05
	Vegetable Oil	366.96	43.50	Metaliferrous ores & other minerals	-137.08	-24.42

 

Trade deficit widened as imports rose faster than exports, altering December trade composition and cumulative flows. India's December 2020 merchandise trade shows marginally lower exports alongside higher imports, resulting in a widened monthly trade deficit. Non-petroleum and non-gems & jewellery exports grew year-on-year for December, while oil imports declined and non-oil, non-gems & jewellery imports increased. Commodity-level shifts-large percentage gains in certain cereals, oil meals and iron ore exports and steep declines in silver and newsprint imports-drove the monthly changes reflected in the preliminary value tables for December 2020 and April-December 2020-21.