India’s Foreign Trade for June 2021

India’s overall exports (Merchandise and Services) in June 2021 estimated to be USD 49.85 Billion, exhibiting a positive growth of 31.87 per cent

India’s overall exports (Merchandise and Services combined) in June 2021* are estimated to be USD 49.85 Billion, exhibiting a positive growth of 31.87 per cent over the same period last year and a positive growth of 17.17 per cent over June 2019. Overall imports in June 2021* are estimated to be USD 52.18 Billion, exhibiting a positive growth of 73.65 per cent over the same period last year and a positive growth of 1.08 per cent over June 2019

*Note: The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI’s subsequent release.(ii) Data for2019 and 2020are revised on pro-rata basis using quarterly balance of payments data.

India’s overall exports (Merchandise and Services combined) in April-June 2021* are estimated to be USD 147.64 Billion, exhibiting a positive growth of 50.24 per cent over the same period last year and a positive growth of 10.92 per cent over April-June 2019. Overall imports in April-June 2021* are estimated to be USD 156.58 Billion, exhibiting a positive growth of 80.75 per cent over the same period last year and a negative growth of (-) 3.48 per cent over April-June 2019.

*Note:The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI’s subsequent release.(ii) Data for 2019  and 2020  are revised on pro-rata basis using quarterly balance of payments data.

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

• Exports in June 2021 were USD 32.50 Billion, as compared to USD 21.91 Billion in June 2020, exhibiting a positive growth of 48.34 per cent. In Rupee terms, exports were ₹ 2,39,047.45 Crore in June 2021, as compared to ₹ 1,65,898.85 Crore in June 2020, registering a positive growth of 44.09 per cent. As compared to June 2019, exports in June 2021 exhibited a positive growth of 29.85 per cent in Dollar terms and 37.55per cent in Rupee terms.
• The commodities/commodity groups which have recorded positive growth during June 2021 vis-à-vis June 2020 areOther cereals (235.93%), Petroleum products (115.37%), Man-made yarn/fabs./made-ups etc.(81.72%), Gems & jewellery (80.53%), Meat, dairy & poultry products (61.81%), Cotton yarn/fabs./made-ups, handloom products etc.(56.88%), Handicrafts excl. handmade Carpet (55.1%), Plastic & Linoleum (53.8%), Engineering goods (52.9%), Electronic goods (45.2%), Jute mfg. including floor covering (44.93%), Iron ore (43.82%), Carpet (39.49%), Cereal preparations & miscellaneous processed items (38.64%), Ceramic products & glassware (36.97%), Organic & inorganic chemicals (36.3%), Marine products (33.74%), Leather & leather products (32.72%), Oil meals (28.16%), RMG of all textiles (24.67%), Mica, Coal & other ores, minerals including processed minerals (24.17%), Coffee (12.82%), Tobacco (9.15%), Rice (8.81%), Fruits & Vegetables (8.26%) and Drugs & pharmaceuticals (0.02%).
• The commodities/commodity groups which have recorded negative growth during June 2021 vis-à-vis June 2020 are Oil seeds (-32.75%), Cashew (-24.45%), Tea (-18.54%) and Spices (-11.31%).
• Cumulative value of exports for the period April-June 2021 was USD 95.39 Billion (₹ 7,03,545.37 Crore) as against USD 51.32 Billion (₹ 3,89,016.27 Crore) during the period April-June 2020, registering a positive growth of 85.88 per cent in Dollar terms (positive growth of 80.85 per cent in Rupee terms). As compared to April-June 2019, exports in April-June 2021 exhibited a positive growth of 17.90 per cent in Dollar terms and 25.01 per cent in Rupee terms.
• Non-petroleum and Non-Gems and Jewellery exports in June 2021 were USD 25.65 Billion, as compared to USD 18.48 Billion in June 2020, registering a positive growth of 38.84 per cent. As compared to June 2019, Non-petroleum and Non-Gems and Jewellery exports in June 2021registered a positive growth of 33.42 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-June 2021 were USD 73.24 Billion, as compared to USD 43.91 Billion for the corresponding period in 2020-21, which is an increase of 66.79 per cent. As compared to April-June 2019, Non-petroleum and Non-Gems and Jewellery exports in April-June 2021 registered a positive growth of 21.40 per cent.

IMPORTS

• Imports in June 2021 were USD 41.87 Billion (₹ 3,08,002.48 Crore), which is an increase of 98.31 per cent in Dollar terms and 92.63 per cent in Rupee terms over imports of USD 21.11 Billion (₹ 1,59,892.42 Crore) in June 2020. Imports in June 2021 have registered a positive growth of2.05 per cent in Dollar terms and 8.10 per cent in Rupee terms in comparison to June 2019. Cumulative value of imports for the period April-June 2021 was USD 126.15 Billion (₹ 9,30,961.10 Crore), as against USD 60.44 Billion (₹ 4,58,395.18 Crore) during the period April-June 2020, registering a positive growth of 108.72 per cent in Dollar terms and a positive growth of 103.09 per cent in Rupee terms. Imports in April-June 2021 have registered a negative growth of (-) 3.04 per cent in Dollar terms and positive growth of 2.88 per cent in Rupee terms in comparison to April-June 2019.
• Major commodity groups of import showing negative growth in June2021 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

• Oil imports in June 2021 were USD 10.68 Billion (₹ 78,532.41 Crore), which was 116.51 percent higher in Dollar terms (110.31 percent higher in Rupee terms), compared to USD 4.93 Billion (₹ 37,341.70 Crore) in June 2020. As compared to June 2019, oil imports in June 2021 were 4.72 percent lower in Dollar terms and 0.93per cent higher in Rupee terms. Oil imports in April-June 2021 were USD 31.00 Billion (₹ 2,28,756.45 Crore) which was 137.02 per cent higher in Dollar terms (130.46 percent higher in Rupee terms) compared to USD 13.08 Billion (₹ 99,259.42 Crore), over the same period last year. As compared to April-June 2019, oil imports in April-June 2021 were 12.33 percent lower in Dollar terms and 6.99per cent lower in Rupee terms.
• In this connection it is mentioned that the global Brent price ($/bbl) has increased by 83.00% in June 2021 vis-à-vis June 2020 as per data available from World Bank.

• Non-oil imports in June 2021 were estimated at USD 31.20 Billion (₹ 2,29,470.07 Crore) which was 92.77 percent higher in Dollar terms (87.24 percent higher in Rupee terms), compared to USD 16.18 Billion (₹ 1,22,550.72 Crore) in June 2020. As compared to June 2019, Non-oil imports in June 2021, were 4.59per cent higher in Dollar terms and 10.79 per cent higher in Rupee terms. Non-oil imports in April-June 2021 were USD 95.14 Billion (₹ 7,02,204.65 Crore) which was 100.90 per cent higher in Dollar terms (95.53 percent higher in Rupee terms), compared to USD 47.36 Billion (₹ 3,59,135.76 Crore) in April-June 2020. As compared to April-June 2019, Non-oil imports in April-June 2021 were 0.43 per cent higher in Dollar terms and 6.56 per cent higher in Rupee terms.
• Non-Oil and Non-Gold imports were USD 30.23Billion in June 2021, recording a positive growth of 94.07per cent, as compared to Non-Oil and Non-Gold imports of USD 15.57Billion in June 2020. Non-Oil and Non-Gold imports in June 2021 recorded a positive growth of 11.41 per cent over June 2019. Non-Oil and Non-Gold imports were USD 87.26Billion in April-June 2021, recording a positive growth of 86.96per cent, as compared to Non-Oil and Non-Gold imports of USD 46.67Billion in April-June 2020. Non-Oil and Non-Gold imports in April-June 2021 recorded a positive growth of 4.76 per cent over April-June 2019.

II. TRADE IN SERVICES

EXPORTS (Receipts)

• As per the latest press release by RBI dated 1^st July 2021, exports in May 2021 were USD 17.36Billion (₹ 1,27,170.75 Crore) registering a positive growth of 10.71per cent in Dollar terms, vis-à-vis May2020. The estimated value of services export for June2021* is USD 17.35Billion, exhibiting a positive growth of 9.16 per cent vis-a-vis June 2020 (USD 15.89 Billion) and a negative growth of (-) 0.94 per cent vis-à-vis June 2019 (USD 17.51 Billion).

IMPORTS (Payments)

• As per the latest press release by RBI dated 1^st July 2021, imports in May 2021were USD 10.23Billion (₹ 74,974.84 Crore) registering a positive growth of 14.78per cent in Dollar terms, vis-à-vis May 2020. The estimated value of services import for June2021* is USD 10.31Billion exhibiting a positive growth of 15.38 per cent vis-à-vis June 2020 (USD 8.94 Billion) and a negative growth of(-) 2.68per cent  vis-à-vis June 2019 (USD 10.59 Billion).

III.TRADE BALANCE

• MERCHANDISE: The trade balance for June2021 was estimated at USD(-) 9.37 Billion as against USD0.79Billion inJune2020, which is a declineof (-) 1281.86 percent. As compared to June 2019 (USD (-) 16.00 Billion), trade balance in June 2021 exhibited a positive growth of41.43 per cent.        
• SERVICES: As per RBI’s Press Release dated 1^st July 2021, the trade balance in Services (i.e. Net Services export) for May 2021is USD7.12Billion. The estimated trade balance in June 2021* is USD 7.04Billion, which is an increase of 1.18 per cent over June 2020 (USD 6.96 Billion) and an increase of1.73 per cent over June2019 (USD 6.92 Billion).
• OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade balance for June 2021* is estimated atUSD(-) 2.34Billion as compared to USD7.75Billion in June 2020, a decline of (-) 130.13 per cent. In comparison to June 2019(USD (-) 9.09 Billion), trade balance in June 2021 exhibited a positive growth of 74.30 per cent.

*Note:The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI’s subsequent release.(ii) Data for 2019  and 2020  are revised on pro-rata basis using quarterly balance of payments data.

MERCHANDISE TRADE

SERVICES TRADE

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