INDIA’S MERCHANDISE TRADE: Preliminary Data, May 2021

India’s merchandise exports in May 2021 was USD 32.21 billion, an increase of 67.39% over May 2020 and an increase of 7.93% over May 2019

India’s merchandise imports in May 2021 was USD 38.53 billion, an increase of 68.54% over May 2020 and a decline of 17.47% over May 2019

Value of non-petroleum and non-gems and jewellery exports in May 2021 was USD 23.97 billion, a positive growth of 45.96% over May 2020 and a positive growth of 11.51% over May 2019

Non-oil, non-GJ imports was USD 26.14 billion in May 2021, a positive growth of 41.32% over May 2020 and a negative growth of 4.08% over May 2019

Top 5 commodity groups of export which have recorded positive growth during May 2021 vis-à-vis May 2020 are: Other Cereals, Jute mfg. including Floor Covering, Petroleum Products, Handicrafts excl. Handmade Carpet, and Gems and Jewellery (179.16%)

Top 5 commodity groups of export which have recorded positive growth during May 2021 vis-à-vis May 2019 are: Other Cereals, Iron Ore, Cereal Preparations And Miscellaneous Processed Item, Cotton yarn/fabs./madeups, handloom products etc, and Jute mfg. Including floor covering

Top 5 commodity groups of import which have shown a fall in May 2021 vis-à-vis May 2020 are: Silver, Newsprint, Pulses, Transport equipment, and Iron & Steel

Top 5 commodity groups of import which have shown a fall in May 2021 vis-à-vis May 2019 which are: Silver, Gold, Newsprint, Transport equipment, and Pulses

India’s merchandise exports in May 2021 was USD 32.21 billion, an increase of 67.39% over USD 19.24 billion in May 2020 and an increase of 7.93% over USD 29.85 billion in May 2019. India’s merchandise exports in Apr-May 2021 was USD 62.84 billion, an increase of 112.29% over USD 29.6 billion in Apr-May 2020 and an increase of 12.44% over USD 55.88 billion in Apr-May 2019.

India’s merchandise imports in May 2021 was USD 38.53 billion, an increase of 68.54% over USD 22.86 billion in May 2020 and a decline of 17.47% over USD 46.68 billion in May 2019. India’s merchandise imports in Apr-May 2021 was USD 84.25 billion, an increase of 110.73% over USD 39.98 billion in Apr-May 2020 and a decrease of 5.41% over USD 89.07 billion in Apr-May 2019.

India is thus a net importer in May 2021 with a trade deficit of USD 6.32 billion, increase of 74.69% over trade deficit USD 3.62 billion in May 2020 and reduction by 62.49% over trade deficit USD 16.84 billion in May 2019.

In May 2021, the value of non-petroleum exports was USD 26.94 billion, registering a positive growth of 54.06% over USD 17.49 billion in May 2020 and a positive growth of 8.08% over USD 24.92 billion in May 2019. The value of non-petroleum and non-gems and jewellery exports in May 2021 was USD 23.97 billion, registering a positive growth of 45.96% over USD 16.42 billion in May 2020 and a positive growth of 11.51% over USD 21.5 billion in May 2019. The cumulative value of non-petroleum and non-gems and jewellery exports in April-May 2021 was USD 47.59 billion, an increase of 86.64% over USD 25.5 billion in April-May 2020 and an increase of 15.78% over USD 41.11 billion in April-May 2019.

In May 2021, Oil imports was USD 9.45 billion, a positive growth of 164.46% compared to USD 3.57 billion in May 2020 and a negative growth of 24.94 compared to USD 12.59 billion in May 2019. In Apr-May 2021, Oil imports was USD 20.32 billion, a positive growth of 146.79% compared to USD 8.24 billion in Apr-May 2020 and a negative growth of 15.86 compared to USD 24.16 billion in Apr-May 2019.

Non-oil imports in May 2021 was estimated at USD 29.08 billion, showing an increase of 50.77% compared to USD 19.29 billion in May 2020 and a decrease of 14.71% compared to USD 34.09 billion in May 2019. Non-oil imports in Apr-May 2021 was estimated at USD 63.93 billion, showing an increase of 101.37% compared to USD 31.75 billion in Apr-May 2020 and a decrease of 1.52% compared to USD 64.91 billion in Apr-May 2019.

Non-oil, non-GJ (gold, silver & Precious metals) imports was USD 26.14 billion in May 2021, recording a positive growth of 41.32%, as compared to non-oil and non-GJ imports of USD 18.5 billion in May 2020 and a negative growth of 4.08% over USD 27.25 billion in May 2019. Non-oil, non-GJ (gold, silver &Precious metals) imports was USD 52.27 billion in Apr-May 2021, recording a positive growth of 69.44%, as compared to non-oil and non-GJ imports of USD 30.85 billion in Apr-May 2020 and a positive growth of 1.07% over USD 51.71 billion in Apr-May 2019.

Major commodity groups of export showing positive growth in May 2021 over May 2019 are: Other cereals (376.04%), Iron ore (154.82%), Cereal preparations and miscellaneous processed item (25.48%), Cotton yarn/fabrics/made-ups, handloom products etc. (24.85%), Jute mfg. including floor covering (20.99%), Rice (20.37%), Ceramic products and glassware (20.32%), Engineering goods (16.09%), Plastic and linoleum (12.91%), Mica, coal and other ores, minerals including process (12.0%), Carpet (11.21%), Drugs and pharmaceuticals (10.92%), Marine products (9.35%), Spices (9.13%), Meat, dairy and poultry products (7.52%), Petroleum products (7.16%), Organic and Inorganic Chemicals (6.26%), Electronic Goods (5.1%), and Man-made yarn/fabrics/made-ups etc. (1.46%).

Major commodity groups of export showing negative growth in May 2021 over May 2019 are: Leather and leather manufactures (-36.48%), Tea (-29.43%%), RMG of All Textiles (-27.59%), Oil Seeds (-24.47%), Oil meals (-19.49%), Handicrafts excl. Hand-made carpet (-19.48%), Gems and Jewellery (-13.4%), Fruits and vegetables (-8.32%), Cashew (-7.11%), Coffee (-4.71%), and Tobacco (-0.78%).

Major commodity groups of import showing positive growth in May 2021 over May 2019 are: Sulphur & Unroasted Iron Pyrites (472.02%), Professional instrument, Optical goods, etc. (112.98%), Vegetable Oil (75.12%), Chemical material & products (45.91%), Pearls, precious & Semi-precious stones (33.75%), Medcnl. & Pharmaceutical products (29.38%), Artificial resins, plastic materials, etc. (16.34%), Pulp and Waste paper (14.53%), Metaliferrous ores & other minerals (11.42%), and Organic & Inorganic Chemicals (6.88%).

Major commodity groups of import showing negative growth in May 2021 over May 2019 are: Silver (-95.9%), Gold (-85.79%), Newsprint (-69.28%), Transport equipment (-50.81%), Pulses (-49.65%), Cotton Raw & Waste (-39.94%), Leather & leather products (-37.19%), Petroleum, Crude & products (-24.94%), Iron & Steel (-21.83%), Coal, Coke & Briquettes, etc.(-16.8%), Textile yarn Fabric, made-up articles (-14.48%), Machine tools (-13.05%), Electronic goods (-12.12%), Machinery, electrical & non-electrical (-11.5%), Fruits & vegetables (-6.31%), Fertilizers, Crude & manufactured (-5.28%), Project Goods (-4.25%), Wood & Wood products (-3.16%), Dyeing/tanning/colouring materials (-1.86%), and Non-ferrous metals (-0.63%).

MERCHANDISE TRADE: Preliminary Data, May 2021

Summary            Value in USD Billion

		Total					Non-Petroleum					Non- Petroleum and Non-Gems &Jewellery
	2019-20	2020-21	2021-22	% change 2021-22 over 2020-21	% change 2021-22 over 2019-20	2019-20	2020-21	2021-22	% change 2021-22 over 2020-21	% change 2021-22 over 2019-20	2019-20	2020-21	2021-22	% change 2021-22 over 2020-21	% change 2021-22 over 2019-20
Exports	29.85	19.24	32.21	67.39	7.93	24.92	17.49	26.94	54.06	8.08	21.50	16.42	23.97	45.96	11.51
Imports	46.68	22.86	38.53	68.54	-17.47	34.09	19.29	29.08	50.77	-14.71	27.25	18.50	26.14	41.32	-4.08
Deficit	16.84	3.62	6.32	74.69	-62.49	9.17	1.80	2.14	18.82	-76.65	5.75	2.07	2.17	4.57	-62.31

Change by top Commodity Groups Value in USD Million

Top Increase					Top Decline
		Commodity group	Change (USD Million)		%  change		Commodity group	Change (USD Million)	%  change
EXPORT (MAY’21 OVER MAY’20)		Petroleum products	3516.63		199.85		Drugs and pharmaceuticals	-107.20	-5.42
		Engineering goods	3000.43		53.14		Fruits and vegetables	-21.15	-10.63
		Gems and jewellery	1904.94		179.16		Oil seeds	-5.58	-7.08
EXPORT (MAY ’20 OVER MAY’19)		Drugs and pharmaceuticals	291.41		17.27		Petroleum products	-3163.92	-64.26
		Iron ore	231.69		102.75		Gems and jewellery	-2364.35	-68.98
		Rice	46.54		7.26		Engineering goods	-1802.32	-24.20
EXPORT (MAY ’21 OVER MAY’19)		Engineering goods	1198.11		16.09		Gems and jewellery	-459.40	-13.40
		Petroleum products	352.71		7.16		Rmg of all textiles	-421.74	-27.59
		Iron ore	349.08		154.82		Leather and leather manufacturers	-155.69	-36.48
	Top Increase					Top Decline
	Commodity group			Change (USD Million)	%  change	Commodity group		Change (USD Million)	%  change
IMPORT May’21 OVER May’20)	Petroleum, Crude & products			5878.19	164.46	Silver		-318.47	-95.31
	Pearls, precious & Semi-precious stones			1864.77	490.39	Transport equipment		-213.00	-15.32
	Electronic goods			1368.17	47.55	Iron & Steel		-37.08	-3.04
IMPORT (May’20 OVER May’19)	Sulphur & Unroasted Iron Pyrts			2.88	56.72	Petroleum, Crude & products		-9018.66	-71.62
						Gold		-4704.38	-98.40
						Electronic goods		-1953.38	-40.44
IMPORT (May ’21 OVER May’19)	Vegetable Oil			612.05	75.12	Gold		-4101.52	-85.79
	Pearls, precious & Semi-precious stones			566.47	33.75	Petroleum, Crude & products		-3140.47	-24.94
	Professional instrument, Optical goods, etc.			491.71	112.98	Transport equipment		-1216.19	-50.81

 

Merchandise trade data show export rebound and import recovery, resulting in a narrower but persistent trade deficit. Preliminary May 2021 merchandise trade statistics show strong year-on-year export recovery and pronounced import recovery, with exports driven by non-petroleum and non-gems-and-jewellery categories and imports influenced by oil and select industrial inputs. Commodity-group breakdowns identify significant positive performers (cereals, iron ore, engineering goods, certain textiles, petroleum products) and continued weakness in others (gems and jewellery, leather, some textiles). The trade balance remained a deficit in May 2021, wider than May 2020 but narrower than May 2019.