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August 22, 2026
US is set to impose 50% tariffs on $20 billion worth of Canadian products
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
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August 21, 2026
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Show AI Summary
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August 21, 2026
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Show AI Summary
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Show AI Summary
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August 21, 2026
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Show AI Summary
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Show AI Summary
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INDIA’S FOREIGN TRADE: November 2021

December 14, 2021

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INDIA’S FOREIGN TRADE: November 2021

Overall exports rise by 22.8%, imports up by 48.54% over last November

Overall exports in first 8 months of current FY (April-November 2021) jumped by 37.21%, imports shot up by 61.02% over the same period last year

  • India’s overall exports (Merchandise and Services combined) in November 2021* are estimated to be USD 50.36 Billion, exhibiting a positive growth of 22.80 per cent over the same period last year and a positive growth of 15.53 per cent over November 2019. Overall imports in November 2021* are estimated to be USD 64.75 Billion, exhibiting a positive growth of 48.54 per cent over the same period last year and a positive growth of 30.90 per cent over November 2019

Table 1: Trade during November 2021*

 

 

November 2021

(USD Billion)

November 2020

(USD Billion)

November 2019

(USD Billion)

Growth vis-à-vis November 2020 (%)

Growth vis-à-vis November 2019 (%)

Merchandise

Exports

30.04

23.62

25.77

27.16

16.55

Imports

52.94

33.81

38.52

56.58

37.44

Trade Balance

-22.91

-10.19

-12.75

-124.77

-79.65

Services*

Exports

20.33

17.39

17.82

16.88

14.06

Imports

11.81

9.78

10.94

20.71

7.90

Net of Services

8.52

7.61

6.88

11.95

23.84

Overall Trade (Merchandise+

Services)*

Exports

50.36

41.01

43.59

22.80

15.53

Imports

64.75

43.59

49.47

48.54

30.90

Trade Balance

-14.39

-2.58

-5.87

-457.27

-145.04

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

Fig 1: Overall Trade during November 2021*

  • India’s overall exports (Merchandise and Services combined) in April-November 2021* are estimated to be USD 418.74 Billion, exhibiting a positive growth of 37.21 per cent over the same period last year and a positive growth of 19.13 per cent over April-November 2019. Overall imports in April-November 2021* are estimated to be USD 472.95 Billion, exhibiting a positive growth of 61.02 per cent over the same period last year and a positive growth of 15.39 per cent over April-November 2019.

Table 2: Trade during April-November 2021*

 

 

April-November 2021

(USD Billion)

April-November 2020

(USD Billion)

April-November 2019

(USD Billion)

Growth vis-à-vis April-November 2020 (%)

Growth vis-à-vis April-November 2019 (%)

Merchandise

Exports

263.57

174.16

211.17

51.34

24.82

Imports

384.34

219.82

324.59

74.84

18.41

Trade Balance

-120.76

-45.66

-113.42

-164.49

-6.47

Services*

Exports

155.17

131.02

140.32

18.43

10.58

Imports

88.61

73.89

85.26

19.92

3.92

Net of Services

66.56

57.13

55.06

16.50

20.88

Overall Trade (Merchandise+

Services)*

Exports

418.74

305.19

351.49

37.21

19.13

Imports

472.95

293.71

409.85

61.02

15.39

Trade Balance

-54.21

11.47

-58.36

-572.43

7.12

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

Fig 2: Overall Trade during April-November 2021*

MERCHANDISE TRADE

  • Merchandise exports in November 2021 were USD 30.04 Billion, as compared to USD 23.62 Billion in November 2020, exhibiting a positive growth of 27.16 per cent. As compared to November 2019, exports in November 2021 exhibited a positive growth of 16.55 per cent.
  • Merchandise imports in November 2021 were USD 52.94 Billion, which is an increase of 56.58 per cent over imports of USD 33.81 Billion in November 2020. Imports in November 2021 have registered a positive growth of 37.44 per cent in comparison to November 2019.
  • The merchandise trade balance for November 2021 was estimated at USD (-) 22.91 Billion as against USD (-) 10.19 Billion in November 2020, which is a decline of (-) 124.77 per cent. As compared to November 2019 (USD (-) 12.75 Billion), trade balance in November 2021 exhibited a negative growth of (-) 79.65 per cent.

Fig 3: Merchandise Trade during November 2021

  • Merchandise exports for the period April-November 2021 was USD 263.57 Billion as against USD 174.16 Billion during the period April-November 2020, registering a positive growth of 51.34 per cent. As compared to April-November 2019, exports in April-November 2021 exhibited a positive growth of 24.82 per cent.
  • Merchandise imports for the period April-November 2021 was USD 384.34 Billion as against USD 219.82 Billion during the period April-November 2020, registering a positive growth of 74.84 per cent. Imports in April-November 2021 have registered a positive growth of 18.41 per cent in comparison to April-November 2019.
  • The merchandise trade balance for April-November 2021 was estimated at USD (-) 120.76 Billion as against USD (-) 45.66 Billion in April-November 2020, which is a decline of (-) 164.49 per cent. As compared to April-November 2019 (USD (-) 113.42 Billion), trade balance in April-November 2021 exhibited a negative growth of (-) 6.47 per cent.

Fig 4: Merchandise Trade during April- November 2021

  • Non-petroleum and non-gems & jewellery exports in November 2021 were USD 23.68 Billion, registering a positive growth of 22.26 per cent over non-petroleum and non-gems & jewellery exports of USD 19.37 Billion in November 2020 and a positive growth of 22.28 per cent over non-petroleum and non-gems & jewellery exports of USD 19.37 Billion in November 2019.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 31.82 Billion in November 2021 with a positive growth of 40.64 per cent over Non-petroleum, non-gems & jewellery imports of USD 22.63 Billion in November 2020 and a positive growth of 41.82 per cent over Non-petroleum, non-gems & jewellery imports of USD 22.44 Billion in November 2019.

Table 3: Trade excluding Petroleum and Gems & Jewellery during November 2021

 

November 2021

(USD Billion)

November 2020

(USD Billion)

November 2019

(USD Billion)

Growth vis-à-vis November 2020 (%)

Growth vis-à-vis November 2019 (%)

Non- petroleum exports

26.08

22.06

21.95

18.19

18.78

Non- petroleum imports

38.27

27.50

27.45

39.17

39.38

Non-petroleum & Non Gems & Jewellery exports

23.68

19.37

19.37

22.26

22.28

Non-petroleum & Non Gems & Jewellery imports*

31.82

22.63

22.44

40.64

41.82

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during November 2021

  • Non-petroleum and non-gems & jewellery exports during April-November 2021 was USD 199.67 Billion, an increase of 38.08 per cent over non-petroleum and non-gems & jewellery exports of USD 144.60 Billion in April-November 2020 and an increase of 27.11 per cent over non-petroleum and non-gems & jewellery exports of USD 157.09 Billion in April-November 2019.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 227.96 Billion in April-November 2021, recording a positive growth of 48.89 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 153.11 Billion in April-November 2020 and a positive growth of 13.48 per cent over USD 200.89 Billion in April-November 2019.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-November 2021

 

April-November 2021

(USD Billion)

April-November 2020

(USD Billion)

April-November 2019

(USD Billion)

Growth vis-à-vis April-November 2020 (%)

Growth vis-à-vis April-November 2019 (%)

Non- petroleum exports

225.59

158.91

182.66

41.96

23.50

Non- petroleum imports

282.25

175.50

238.60

60.83

18.29

Non-petroleum & Non Gems & Jewellery exports

199.67

144.60

157.09

38.08

27.11

Non-petroleum & Non Gems & Jewellery imports*

227.96

153.11

200.89

48.89

13.48

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems &Jewellery during April-November 2021

SERVICES TRADE

  • The estimated value of services export for November 2021* is USD 20.33 Billion, exhibiting a positive growth of 16.88 per cent vis-a-vis November 2020 (USD 17.39 Billion) and a positive growth of 14.06 per cent vis-à-vis November 2019 (USD 17.82 Billion).
  • The estimated value of services import for November 2021* is USD 11.81 Billion exhibiting a positive growth of 20.71 per cent vis-à-vis November 2020 (USD 9.78 Billion) and a positive growth of 7.90 per cent vis-à-vis November 2019 (USD 10.94 Billion).
  • The services trade balance in November 2021* is estimated at USD 8.52 Billion, which is an increase of 11.95 per cent over November 2020 (USD 7.61 Billion) and an increase of 23.84 per cent over November 2019 (USD 6.88 Billion).

Fig 7: Services Trade during November 2021*

  • The estimated value of services export for April-November 2021* is USD 155.17 Billion, exhibiting a positive growth of 18.43 per cent vis-a-vis April-November 2020 (USD 131.02 Billion) and a positive growth of 10.58 per cent vis-à-vis April-November 2019 (USD 140.32 Billion).
  • The estimated value of services imports for April-November 2021* is USD 88.61 Billion exhibiting a positive growth of 19.92 per cent vis-à-vis April-November 2020 (USD 73.89 Billion) and a positive growth of 3.92 per cent vis-à-vis April-November 2019 (USD 85.26 Billion).
  • The services trade balance for April-November 2021 was estimated at USD 66.56 Billion as against USD 57.13 Billion in April-November 2020, which is an increase of 16.50 per cent. As compared to April-November 2019 (USD 55.06 Billion), net of services in April-November 2021 exhibited a positive growth of 20.88 per cent.

Fig 8: Services Trade during April-November 2021*

Table 5: Export Growth in Commodity Groups in November 2021

Sl. No.

Commodities

(Values in Million USD)

% Change

NOV'20

NOV'21

NOV'21

 

Commodity groups exhibiting positive growth

1

Petroleum Products

1557.36

3959.13

154.22

2

Coffee

45.08

75.34

67.12

3

Plastic & Linoleum

507.25

724.39

42.81

4

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

872.55

1227.83

40.72

5

Engineering Goods

5896.67

8077.46

36.98

6

Other cereals

63.21

85.42

35.14

7

Organic & Inorganic Chemicals

1694.92

2246.50

32.54

8

Leather & leather products

273.30

356.56

30.47

9

Jute Mfg. including Floor Covering

32.76

42.63

30.11

10

Electronic Goods

1121.17

1455.58

29.83

11

Marine Products

586.64

754.00

28.53

12

Man-made Yarn/Fabs./made-ups etc.

340.54

428.36

25.79

13

Mica, Coal & Other Ores, Minerals including processed minerals

326.82

394.49

20.71

14

Rice

563.72

658.90

16.89

15

Fruits & Vegetables

161.80

186.58

15.31

16

Cereal preparations & miscellaneous processed items

154.88

163.84

5.79

17

RMG of all Textiles

1043.75

1072.17

2.72

18

Spices

313.86

317.72

1.23

19

Carpet

146.95

148.63

1.15

Sl. No.

Commodities

(Values in Million USD)

% Change

NOV'20

NOV'21

NOV'21

 

Commodity Groups exhibiting negative growth

20

Iron Ore

328.58

23.05

-92.98

21

Oil Meals

140.15

104.39

-25.51

22

Tobacco

76.69

62.72

-18.21

23

Tea

71.61

62.58

-12.62

24

Oil seeds

153.22

135.69

-11.44

25

Gems & Jewellery

2690.83

2392.20

-11.10

26

Handicrafts excl. hand made carpet

173.38

159.71

-7.89

27

Drugs & Pharmaceuticals

1963.40

1825.36

-7.03

28

Ceramic products & glassware

263.48

251.09

-4.70

29

Meat, dairy & poultry products

392.59

379.06

-3.45

30

Cashew

37.72

36.91

-2.15

Table 6: Import Growth in Commodity Groups in November 2021

Sl. No.

Commodities

(Values in Million USD)

% Change

NOV'20

NOV'21

NOV'21

 

Commodity Groups exhibiting positive growth

1

Silver

9.27

244.56

2538.19

2

Sulphur & Unroasted Iron Pyrts

9.32

47.87

413.63

3

Coal, Coke & Briquettes, etc.

1517.08

3577.42

135.81

4

Petroleum, Crude & products

6314.81

14677.80

132.43

5

Metaliferrous ores & other minerals

434.15

963.15

121.85

6

Pulp and Waste paper

67.22

148.30

120.62

7

Project goods

64.79

122.33

88.81

8

 Vegetable Oil

981.38

1754.92

78.82

9

Organic & Inorganic Chemicals

1515.51

2523.91

66.54

10

Newsprint

14.84

24.70

66.44

11

Artificial resins, plastic materials, etc.

1156.63

1859.00

60.73

12

Fertilisers, Crude & manufactured

898.16

1442.40

60.59

13

Dyeing/tanning/colouring mtrls.

233.84

359.98

53.94

14

Leather & leather products

45.11

68.22

51.23

15

Iron & Steel

986.14

1485.81

50.67

16

Gold

3022.59

4221.66

39.67

17

Cotton Raw & Waste

18.94

26.17

38.17

18

Medcnl. & Pharmaceutical products

534.89

735.70

37.54

19

Wood &  Wood products

361.92

487.63

34.73

20

Machine tools

248.17

333.30

34.30

21

Non-ferrous metals

1154.69

1521.16

31.74

22

Textile yarn Fabric, made-up articles

139.91

181.84

29.97

23

Machinery, electrical & non-electrical

2568.89

3274.31

27.46

24

Pulses

223.42

275.99

23.53

25

Electronic goods

4695.06

5714.68

21.72

26

Chemical material & products

785.06

912.58

16.24

27

Professional instrument, Optical goods, etc.

374.05

413.43

10.53

28

Pearls, precious & Semi-precious stones

1839.14

1978.67

7.59

Sl. No.

Commodities

(Values in Million USD)

% Change

NOV'20

NOV'21

NOV'21

 

Commodity Groups exhibiting negative growth

29

Transport equipment

1682.44

1357.83

-19.29

30

Fruits & vegetables

303.12

258.56

-14.70

Table 7: MERCHANDISE TRADE

EXPORTS & IMPORTS: (Rs. Crore)

(PROVISIONAL)

 

NOVEMBER

APRIL-NOVEMBER

EXPORTS(including re-exports)

 

 

2019-20

1,84,142.27

14,84,386.50

2020-21

1,75,306.78

12,99,725.47

2021-22

2,23,755.78

19,53,860.28

%Growth 2021-22/ 2020-21

27.64

50.33

%Growth 2021-22/ 2019-20

21.51

31.63

IMPORTS

 

 

2019-20

2,75,255.20

22,80,659.04

2020-21

2,50,954.16

16,40,286.15

2021-22

3,94,419.58

28,50,142.12

%Growth 2021-22/ 2020-21

57.17

73.76

%Growth 2021-22/ 2019-20

43.29

24.97

TRADE BALANCE

 

 

2019-20

-91,112.93

-7,96,272.55

2020-21

-75,647.38

-3,40,560.67

2021-22

-1,70,663.80

-8,96,281.84

Table 8: SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

 

(PROVISIONAL)

October 2021

April-

October 2021

EXPORTS (Receipts)

19.85

134.84

IMPORTS (Payments)

11.61

76.80

TRADE BALANCE

8.24

58.04

 

 

 

EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

 

(PROVISIONAL)

October 2021

April-

October 2021

EXPORTS (Receipts)

1,48,669.41

9,98,707.75

IMPORTS (Payments)

86,939.21

5,68,891.46

TRADE BALANCE

61,730.21

4,29,816.29

Source: RBI Press Release dated 1stDecember 2021

 

 

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