India’s merchandise export in January 2022 increases by 23.69% to USD 34.06 billion over USD 27.54 billion in January 2021; records increase of 31.75% over USD 25.85 billion in January 2020

India’s merchandise export in 2021-22 (April-January) rises by 46.53% to USD 335.44 billion over USD 228.9 billion in 2020-21 (April-January); marks an increase of 27.0% over USD 264.13 billion in 2019-20 (April-January)

INDIA’S MERCHANDISE TRADE: Preliminary Data January 2022

India’s merchandise import in January 2022 was USD 52.01 billion, an increase of 23.74% over USD 42.03 billion in January 2021 and an increase of 26.38% over USD 41.15 billion in January 2020.

India’s merchandise import in 2021-22 (April-January) was USD 495.83 billion, an increase of 62.68% over USD 304.79 billion in 2020-21 (April-January) and an increase of 22.3% over USD 405.33 billion in 2019-20 (April-January).

The trade deficit in January 2022 was USD 17.94 billion, while it was 160.38 billion USD during 2021-22 (April-January).

Statement 1: India’s Merchandise Trade in January 2022
	Value in Billion USD			% Growth
	Jan-22	Jan-21	Jan-20	Jan-22 over Jan-21	Jan-22 over Jan-20
Exports	34.06	27.54	25.85	23.69	31.75
Imports	52.01	42.03	41.15	23.74	26.38
Deficit	17.94	14.49	15.30	23.82	17.30

 

Statement 2: India’s Merchandise Trade in 2021-22 (April-January)
	Value in Billion USD			% Growth
	2021-22 (Apr-Jan)	2020-21 (Apr-Jan)	2019-20 (Apr-Jan)	2021-22 (Apr-Jan) over 2020-21 (Apr-Jan)	2021-22 (Apr-Jan) over  2019-20 (Apr-Jan)
Exports	335.44	228.90	264.13	46.53	27.0
Imports	495.83	304.79	405.33	62.68	22.30
Deficit	160.38	75.87	141.2	112.97	13.51

 

 

Value of non-petroleum exports in January 2022 was 30.33 USD billion, registering a positive growth of 19.4% over non-petroleum exports of USD 25.4 billion in January 2021 and a positive growth of 33.81% over non-petroleum exports of USD 22.67 billion in January 2020.

Value of non-petroleum imports was USD 40.57 billion in January 2022 with a positive growth of 24.44% over non-petroleum imports of USD 32.61 billion in January 2021 and a positive growth of 44.19% over non-petroleum imports of USD 28.14 billion in January 2020.

Statement 3: Merchandise Non-POL Trade in January 2022
	Value in Billion USD			% Growth
	Jan-22	Jan-21	Jan-20	2021-22 (Apr-Jan)	2020-21 (Apr-Jan)
Exports	30.33	25.40	22.67	19.40	33.81
Imports	40.57	32.61	28.14	24.44	44.19

The cumulative value of non-petroleum exports in 2021-22 (Apr-Jan) was USD 287.84 billion, an increase of 37.59% over USD 209.19 billion in 2020-21 (Apr-Jan) and an increase of 25.8% over USD 228.8 billion in 2019-20 (Apr-Jan).

The cumulative value of non-petroleum imports in 2021-22 (Apr-Jan) was USD 366.14 billion, showing an increase of 51.67% compared to non-oil imports of USD 241.41 billion in 2020-21 (Apr-Jan) and an increase of 23.86% compared to non-oil imports of USD 295.61 billion in 2019-20 (Apr-Jan).

Statement 4: Merchandise Non-POL Trade 2021-22 (Apr-Jan)
	Value in Billion USD			% Growth
	2021-22(Apr-Jan)	2021-22 (Apr-Jan)	2019-20(Apr-Jan)	2021-22 (Apr-Jan) over 2020-21 (Apr-Jan)	2021-22 (Apr-Jan) over  2019-20 (Apr-Jan)
Exports	287.84	209.19	228.80	37.59	25.8
Imports	366.14	241.41	295.61	51.67	23.86

Value of non-petroleum and non-gems and jewellery exports in January 2022 was USD 27.09 billion, registering a positive growth of 20.1% over non-petroleum and non-gems and jewellery exports of USD 22.56 billion in January 2021 and a positive growth of 36.92% over non-petroleum and non-gems and jewellery exports of USD 19.79 billion in January 2020.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 35.22 billion in January 2022 with a positive growth of 33.6%over non-oil and non-GJ imports of USD 26.36 billion in January 2021and a positive growth of 41.63% over non-oil and non-GJ imports of USD 24.87 billion in January 2020.

Statement 5: Merchandise Non-POL Non-GJ Trade in January 2022
	Value in Billion USD			% Growth
	Jan-22	Jan-21	Jan-20	Jan-22 over Jan-21	Jan-22 over Jan-20
Exports	27.09	22.56	19.79	20.10	36.92
Imports	35.22	26.36	24.87	33.60	41.63

The cumulative value of non-petroleum and non-gems and jewellery exports in 2021-22 (April-January) was USD 255.69 billion, an increase of 34.95% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 189.47 billion in 2020-21(April-January) and an increase of 29.18% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 197.94 billion in 2019-20 (April-January).

Non-oil, non-GJ (Gold, Silver & Precious Metals) imports was USD 298.65 billion in 2021-22 (April-January), recording a positive growth of 45.06%, as compared to non-oil and non-GJ imports of USD 205.88 billion in 2020-21(April-January) and a positive growth of 19.54% over USD 249.83 billion in 2019-20 (April-January).

Statement 6: Merchandise Non-POL Non-GJ Trade Apr 2021-Jan 2022
	Value in Billion USD			% Growth
	2021-22 (Apr-Jan)	2021-22 (Apr-Jan)	2019-20 (Apr-Jan)	2021-22 (Apr-Jan) over 2020-21 (Apr-Jan)	2021-22 (Apr-Jan) over  2019-20 (Apr-Jan)
Exports	255.69	189.47	197.94	34.95	29.18
Imports	298.65	205.88	249.83	45.06	19.54

Top 10 major commodity groups covering 78% of total exports in January 2022,are –

Statement 7: Exports of Top 10 Major Commodity Groups
	Value of Export (Million US$)		Share (%)	Growth (%)
Major Commodity Group	Jan-22	Jan-21	Jan-22	Jan-22 over Jan-21
Engineering goods	9201.76	7413.15	27.01	24.13
Petroleum products	3732.26	2136.00	10.96	74.73
Gems and Jewellery	3236.98	2843.62	9.50	13.83
Organic and Inorganic chemicals	2447.89	1942.16	7.19	26.04
Drugs and Pharmaceuticals	2054.24	2075.22	6.03	-1.01
Cotton Yarn/Fabs./Madeups, Handloom products etc.	1389.46	974.54	4.08	42.58
RMG of all Textiles	1549.00	1295.91	4.55	19.53
Electronic goods	1364.63	1180.09	4.01	15.64
Plastic and Linoleum	844.47	638.37	2.48	32.29
Rice	813.75	769.89	2.39	5.70
Total of 10 Major Commodity Groups	26634.46	21268.95	78.19	25.23
Rest	7428.41	6269.33	21.81	18.49
Total Exports	34062.87	27538.28	100.00	23.69

Top 10 major commodity groups covering 75% of total imports in January 2022, are – 

Statement 8: Imports of Top 10 Major Commodity Groups
	Import (Million US$)		Share (%)	Growth (%)
Major Commodity Group	Jan-22	Jan-21	Jan-22	Jan-22 over Jan-21
Petroleum, Crude & products	11431.59	9424.30	21.98	21.30
Electronic goods	8216.74	5256.61	15.80	56.31
Gold	2404.19	4035.23	4.62	-40.42
Machinery, electrical & non-electrical	4038.80	3367.71	7.77	19.93
Organic & Inorganic Chemicals	2673.76	1983.66	5.14	34.79
Pearls, precious & Semi-precious stones	2332.04	2196.40	4.48	6.18
Coal, Coke & Briquettes, etc.	2606.53	1865.66	5.01	39.71
Artificial resins, plastic materials, etc.	1762.08	1530.64	3.39	15.12
Vegetable Oil	1858.58	1135.45	3.57	63.69
Non-ferrous metals	1831.41	1349.99	3.52	35.66
Total of 10 Major Commodity Groups	39155.69	32145.65	75.29	21.81
Rest	12850.22	9884.42	24.71	30.00
Total Imports	52005.91	42030.07	100.00	23.74

 

Merchandise export growth accelerates, while imports continue to outpace exports, widening the trade deficit and shifting sectoral composition. Merchandise exports and imports both rose in January 2022 compared with January 2021 and January 2020; exports increased substantially led by engineering goods, petroleum products, gems and jewellery, chemicals, textiles and electronics, while imports were driven by petroleum and products, electronic goods, machinery, chemicals and non-ferrous metals. Non-petroleum and non-petroleum non-gems-and-jewellery exports and imports recorded positive growth in January 2022 and cumulatively for April-January 2021-22, but import growth contributed to a larger monthly and cumulative trade deficit.