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August 7, 2026
Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
Show AI Summary
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Home › news › Customs, DGFT & SEZ › 2022 › January, 2022 › This
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Customs, DGFT & SEZ

INDIA’S FOREIGN TRADE: December 2021

January 14, 2022

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India’s overall exports (Merchandise and Services combined) in December 2021* are estimated to be USD 57.87 Billion, exhibiting a positive growth of 25.05 per cent over the same period last year and a positive growth of 23.35 per cent over December 2019. Overall imports in December 2021* are estimated to be USD 72.35 Billion, exhibiting a positive growth of 33.86 per cent over the same period last year and a positive growth of 40.30 per cent over December 2019

Table 1: Trade during December 2021*

 

 

December 2021

(USD Billion)

December 2020

(USD Billion)

December 2019

(USD Billion)

Growth vis-à-vis December 2020 (%)

Growth vis-à-vis December 2019 (%)

Merchandise

Exports

37.81

27.22

27.11

38.91

39.47

Imports

59.48

42.93

39.59

38.55

50.24

Trade Balance

-21.68

-15.72

-12.49

-37.92

-73.61

Services*

Exports

20.07

19.06

19.81

5.26

1.29

Imports

12.87

11.12

11.98

15.76

7.44

Net of Services

7.20

7.95

7.84

-9.42

-8.12

Overall Trade (Merchandise+

Services)*

Exports

57.87

46.28

46.92

25.05

23.35

Imports

72.35

54.05

51.57

33.86

40.30

Trade Balance

-14.48

-7.77

-4.65

-86.32

-211.26

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

Fig 1: Overall Trade during December 2021*

India’s overall exports (Merchandise and Services combined) in April-December 2021* are estimated to be USD 479.07 Billion, exhibiting a positive growth of 36.31 per cent over the same period last year and a positive growth of 20.25 per cent over April-December 2019. Overall imports in April-December 2021* are estimated to be USD 547.12 Billion, exhibiting a positive growth of 57.33 per cent over the same period last year and a positive growth of 18.57 per cent over April-December 2019.

Table 2: Trade during April-December 2021*

 

 

April-December 2021

(USD Billion)

April-December 2020

(USD Billion)

April-December 2019

(USD Billion)

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

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

Merchandise

Exports

301.38

201.38

238.27

49.66

26.49

Imports

443.82

262.76

364.18

68.91

21.87

Trade Balance

-142.44

-61.38

-125.91

-132.07

-13.13

Services*

Exports

177.68

150.09

160.13

18.39

10.96

Imports

103.30

85.00

97.24

21.52

6.23

Net of Services

74.39

65.08

62.90

14.30

18.27

Overall Trade (Merchandise+

Services)*

Exports

479.07

351.47

398.41

36.31

20.25

Imports

547.12

347.76

461.42

57.33

18.57

Trade Balance

-68.06

3.70

-63.01

-1937.96

-8.00

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

Fig 2: Overall Trade during April-December 2021*

MERCHANDISE TRADE

  • Merchandise exports in December 2021 were USD 37.81 Billion, as compared to USD 27.22 Billion in December 2020, exhibiting a positive growth of 38.91 per cent. As compared to December 2019, exports in December 2021 exhibited a positive growth of 39.47 per cent.
  • Merchandise imports in December 2021 were USD 59.48 Billion, which is an increase of 38.55 per cent over imports of USD 42.93 Billion in December 2020. Imports in December 2021 have registered a positive growth of 50.24 per cent in comparison to December 2019.
  • The merchandise trade balance for December 2021 was estimated at USD (-)  21.68 Billion as against USD (-) 15.72 Billion in December 2020, which is a decline of (-) 37.92 per cent. As compared to December 2019 (USD (-) 12.49 Billion), trade balance in December 2021 exhibited a negative growth of (-) 73.61 per cent.

 

Fig 3: Merchandise Trade during December 2021

  • Merchandise exports for the period April-December 2021 was USD 301.38 Billion as against USD 201.38 Billion during the period April-December 2020, registering a positive growth of 49.66 per cent. As compared to April-December 2019, exports in April-December 2021 exhibited a positive growth of 26.49 per cent.
  • Merchandise imports for the period April-December 2021 was USD 443.82 Billion as against USD 262.76 Billion during the period April-December 2020, registering a positive growth of 68.91 per cent. Imports in April-December 2021 have registered a positive growth of 21.87 per cent in comparison to April-December 2019.
  • The merchandise trade balance for April-December 2021 was estimated at USD (-) 142.44 Billion as against USD (-) 61.38 Billion in April-December 2020, which is a decline of (-) 132.07 per cent. As compared to April-December 2019 (USD (-) 125.91 Billion), trade balance in April-December 2021 exhibited a negative growth of (-) 13.13 per cent.

Fig 4: Merchandise Trade during April- December 2021

  • Non-petroleum and non-gems & jewellery exports in December 2021 were USD 28.92 Billion, registering a positive growth of 29.67 per cent over non-petroleum and non-gems & jewellery exports of USD 22.30 Billion in December 2020 and a positive growth of 37.31 per cent over non-petroleum and non-gems & jewellery exports of USD 21.06 Billion in December 2019. 
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 35.47 Billion in December 2021 with a positive growth of 34.28 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.41 Billion in December 2020 and a positive growth of 47.32 per cent over Non-petroleum, non-gems & jewellery imports of USD 24.07 Billion in December 2019.

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

 

December 2021

(USD Billion)

December 2020

(USD Billion)

December 2019

(USD Billion)

Growth vis-à-vis December 2020 (%)

Growth vis-à-vis December 2019 (%)

Non- petroleum exports

31.92

24.88

23.48

28.29

35.97

Non- petroleum imports

43.32

33.31

28.88

30.07

50.02

Non-petroleum & Non Gems & Jewellery exports

28.92

22.30

21.06

29.67

37.31

Non-petroleum & Non Gems & Jewellery imports*

35.47

26.41

24.07

34.28

47.32

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

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

 

  • Non-petroleum and non-gems & jewellery exports during April-December 2021 was USD 228.60 Billion, an increase of 36.96 per cent over non-petroleum and non-gems & jewellery exports of USD 166.91 Billion in April-December 2020 and an increase of 28.32 per cent over non-petroleum and non-gems & jewellery exports of USD 178.15 Billion in April-December 2019.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 263.43 Billion in April-December 2021, recording a positive growth of 46.74 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 179.52 Billion in April-December 2020 and a positive growth of 17.10 per cent over USD 224.96 Billion in April-December 2019.

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

 

April-December 2021

(USD Billion)

April-December 2020

(USD Billion)

April-December 2019

(USD Billion)

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

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

Non- petroleum exports

257.50

183.79

206.13

40.11

24.92

Non- petroleum imports

325.56

208.80

267.47

55.92

21.72

Non-petroleum & Non Gems & Jewellery exports

228.60

166.91

178.15

36.96

28.32

Non-petroleum & Non Gems & Jewellery imports*

263.43

179.52

224.96

46.74

17.10

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

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

SERVICES TRADE

  • The estimated value of services export for December 2021* is USD 20.07 Billion, exhibiting a positive growth of 5.26 per cent vis-a-vis December 2020 (USD 19.06 Billion) and a positive growth of 1.29 per cent vis-à-vis December 2019 (USD 19.81 Billion).
  • The estimated value of services import for December 2021* is USD 12.87 Billion exhibiting a positive growth of 15.76 per cent vis-à-vis December 2020 (USD 11.12 Billion) and a positive growth of 7.44 per cent vis-à-vis December 2019 (USD 11.98 Billion).
  • The services trade balance in December 2021* is estimated at USD 7.20 Billion, which is a decline of (-) 9.42 per cent over December 2020 (USD 7.95 Billion) and a decline of (-) 8.12 per cent over December 2019 (USD 7.84 Billion).

Fig 7: Services Trade during December 2021*

  • The estimated value of services export for April-December 2021* is USD 177.68 Billion, exhibiting a positive growth of 18.39 per cent vis-a-vis April-December 2020 (USD 150.09 Billion) and a positive growth of 10.96 per cent vis-à-vis April-December 2019 (USD 160.13 Billion).
  • The estimated value of services imports for April-December 2021* is USD 103.30 Billion exhibiting a positive growth of 21.52 per cent vis-à-vis April-December 2020 (USD 85.00 Billion) and a positive growth of 6.23 per cent vis-à-vis April-December 2019 (USD 97.24 Billion).
  • The services trade balance for April-December 2021* was estimated at USD 74.39 Billion as against USD 65.08 Billion in April-December 2020, which is an increase of 14.30 per cent. As compared to April-December 2019 (USD 62.90 Billion), net of services in April-December 2021* exhibited a positive growth of 18.27 per cent. 

Fig 8: Services Trade during April-December 2021*

 

Table 5: Export Growth in Commodity Groups in December 2021

Sl. No.

Commodities

(Values in Million USD)

% Change

DEC'20

DEC'21

DEC'21

 

Commodity groups exhibiting positive growth

1

Petroleum Products

2336.63

5887.67

151.97

2

Coffee

44.00

98.47

123.80

3

Mica, Coal & Other Ores, Minerals including processed minerals

337.08

539.23

59.97

4

Plastic & Linoleum

570.49

899.85

57.73

5

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

987.76

1443.98

46.19

6

Other cereals

96.24

140.17

45.65

7

Engineering Goods

7072.63

9788.88

38.41

8

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

380.52

518.22

36.19

9

Electronic Goods

1248.33

1672.59

33.99

10

Rice

682.77

895.08

31.10

11

Marine Products

562.85

720.51

28.01

12

Organic & Inorganic Chemicals

2100.00

2664.15

26.86

13

RMG of all Textiles

1195.78

1466.43

22.63

14

Fruits & Vegetables

190.07

227.53

19.71

15

Leather & leather products

338.49

404.41

19.48

16

Meat, dairy & poultry products

335.53

396.89

18.29

17

Gems & Jewellery

2575.67

2997.44

16.38

18

Oil seeds

147.72

165.29

11.90

19

Jute Mfg. including Floor Covering

41.78

46.73

11.86

20

Handicrafts excl. handmade carpet

180.34

196.13

8.75

21

Cereal preparations & miscellaneous processed items

183.48

199.18

8.56

22

Carpet

156.08

166.14

6.45

23

Drugs & Pharmaceuticals

2203.53

2318.04

5.20

Sl. No.

Commodities

(Values in Million USD)

% Change

DEC'20

DEC'21

DEC'21

 

Commodity Groups exhibiting negative growth

24

Iron Ore

382.38

54.44

-85.76

25

Oil Meals

236.75

119.67

-49.45

26

Cashew

52.29

39.09

-25.24

27

Spices

344.92

314.40

-8.85

28

Tea

74.43

68.61

-7.82

29

Ceramic products & glassware

310.62

294.23

-5.28

30

Tobacco

82.88

82.13

-0.90

 Table 6: Import Growth in Commodity Groups in December 2021

Sl. No.

Commodities

(Values in Million USD)

% Change

DEC'20

DEC'21

DEC'21

 

Commodity Groups exhibiting positive growth

1

Silver

10.39

232.04

2133.30

2

Sulphur & Unroasted Iron Pyrites

19.69

69.95

255.26

3

Fertilisers, Crude & manufactured

632.38

1712.03

170.73

4

Newsprint

12.07

27.18

125.19

5

Pulp and Waste paper

75.53

164.25

117.46

6

Metaliferrous ores & other minerals

429.52

857.30

99.59

7

Organic & Inorganic Chemicals

1879.88

3253.17

73.05

8

Coal, Coke & Briquettes, etc.

1624.32

2803.09

72.57

9

Cotton Raw & Waste

30.58

52.73

72.43

10

Project goods

127.03

215.58

69.71

11

Petroleum, Crude & products

9629.01

16165.97

67.89

12

Leather & leather products

50.02

76.08

52.10

13

Vegetable Oil

1210.88

1827.33

50.91

14

Dyeing/tanning/colouring materials

281.04

402.57

43.24

15

Artificial resins, plastic materials, etc.

1434.57

1970.30

37.34

16

Iron & Steel

1265.30

1722.90

36.17

17

Non-ferrous metals

1303.56

1705.32

30.82

18

Electronic goods

5037.69

6427.30

27.58

19

Fruits & vegetables

240.36

305.64

27.16

20

Textile yarn Fabric, made-up articles

180.93

229.20

26.68

21

Pearls, precious & Semi-precious stones

2397.17

2891.13

20.61

22

Machinery, electrical & non-electrical

3149.33

3796.75

20.56

23

Medicinal & Pharmaceutical products

623.44

743.89

19.32

24

Wood &  Wood products

470.32

548.23

16.57

25

Professional instrument, Optical goods, etc.

467.38

511.74

9.49

26

Chemical material & products

876.78

942.36

7.48

27

Gold

4485.76

4729.47

5.43

28

Machine tools

347.52

363.26

4.53

Sl. No.

Commodities

(Values in Million USD)

% Change

DEC'20

DEC'21

DEC'21

 

Commodity Groups exhibiting negative growth

29

Pulses

294.61

189.65

-35.63

30

Transport equipment

2476.59

2306.43

-6.87

  Table 7: MERCHANDISE TRADE 

EXPORTS & IMPORTS: (Rs. Crore)

(PROVISIONAL)

 

DECEMBER

APRIL-DECEMBER

EXPORTS(including re-exports)

 

 

2019-20

1,92,984.47

16,77,370.97

2020-21

2,00,294.50

15,00,019.98

2021-22

2,84,960.74

22,38,821.02

%Growth 2021-22/ 2020-21

42.27

49.25

%Growth 2021-22/ 2019-20

47.66

33.47

IMPORTS

 

 

2019-20

2,81,880.86

25,62,539.91

2020-21

3,15,970.77

19,56,256.92

2021-22

4,48,352.86

32,98,494.98

%Growth 2021-22/ 2020-21

41.90

68.61

%Growth 2021-22/ 2019-20

59.06

28.72

TRADE BALANCE

 

 

2019-20

-88,896.39

-8,85,168.94

2020-21

-1,15,676.27

-4,56,236.94

2021-22

-1,63,392.12

-10,59,673.96

Table 8: SERVICES TRADE 

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

 

(PROVISIONAL)

November 2021

April-

November 2021

EXPORTS (Receipts)

20.14

157.62

IMPORTS (Payments)

12.59

90.43

TRADE BALANCE

7.55

67.19

 

 

 

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

 

(PROVISIONAL)

November 2021

April-

November 2021

EXPORTS (Receipts)

1,50,006.15

11,68,297.72

IMPORTS (Payments)

93,753.85

6,70,401.42

 

TRADE BALANCE

56,252.31

4,97,896.29

Source: RBI Press Release dated 4th January 2022

 

 * Link for quick estimates

***

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