Overall (merchandise and services) exports in April-August 2022 jump by 19.7 percent as compared to the same period last year

Non-petroleum and non-gems & jewellery export rises 8.5 percent to USD 135.6 billion in April-August 2022 as compared to same period last year

Merchandise export grow by 1.6 percent at USD 33.9 billion in August 2022 as compared to the same period last year

Tobacco (76.4%), Oil Meals (73.7%), Electronic Goods (50.8%) and Rice (43.6%) record high export growth during August 2022 as compared to the same period last year

INDIA’S FOREIGN TRADE: August 2022

India’s overall exports (Merchandise and Services combined) in August 2022* are estimated to be USD 57.47 Billion, exhibiting a positive growth of 6.75 per cent over the same period last year. Overall imports in August 2022* are estimated to be USD 75.84 Billion, exhibiting a positive growth of 33.15 per cent over the same period last year.

Table 1: Trade during August 2022*

* Note: The latest data for services sector released by RBI is for July 2022. The data for August 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-August 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during August 2022*

India’s overall exports (Merchandise and Services combined) in April-August 2022* are estimated to be USD 311.82 Billion, exhibiting a positive growth of 19.72 per cent over the same period last year. Overall imports in April-August 2022* are estimated to be USD 390.91 Billion, exhibiting a positive growth of 43.78 per cent over the same period last year.

 Table 2: Trade during April-August 2022*

* Note: The latest data for services sector released by RBI is for July 2022. The data for August 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-August 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 2: Overall Trade during April-August 2022*

MERCHANDISE TRADE

• Merchandise exports in August 2022 were USD 33.92 Billion, as compared to USD 33.38 Billion in August 2021, exhibiting a positive growth of 1.62 per cent.
• Merchandise imports in August 2022 were USD 61.90 Billion, which is an increase of 37.28 per cent over imports of USD 45.09 Billion in August 2021.
• The merchandise trade deficit in August 2022 was estimated at USD 27.98 Billion as against USD 11.71 Billion in August 2021, which is an increase of 138.88 per cent.

Fig 3: Merchandise Trade during August 2022

• Merchandise exports for the period April-August 2022 were USD 193.51 Billion as against USD 164.44 Billion during the period April-August 2021, registering a positive growth of 17.68 per cent.
• Merchandise imports for the period April-August 2022 were USD 318.03 Billion as against USD 218.22 Billion during the period April-August 2021, registering a positive growth of 45.74 per cent.
• The merchandise trade deficit for April-August 2022 was estimated at USD 124.52 Billion as against USD 53.78 Billion in April-August 2021, which is an increase of 131.52 per cent.

Fig 4: Merchandise Trade during April-August 2022

Non-petroleum and non-gems & jewellery exports in August 2022 were USD 24.88 Billion, registering a negative growth of (-) 1.64 per cent over non-petroleum and non-gems & jewellery exports of USD 25.29 Billion in August 2021.

Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 37.53 Billion in August 2022 with a positive growth of 40.63 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.69 Billion in August 2021.

Table 3: Trade excluding Petroleum and Gems & Jewellery during August 2022

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

 Fig 5: Trade excluding Petroleum and Gems & Jewellery during August 2022

Non-petroleum and non-gems & jewellery exports during April-August 2022 was USD 135.57 Billion, an increase of 8.47 per cent over non-petroleum and non-gems & jewellery exports of USD 124.99 Billion in April-August 2021.

Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 185.05 Billion in April-August 2022, recording a positive growth of 37.64 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 134.44 Billion in April-August 2021.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-August 2022

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

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-August 2022

SERVICES TRADE

• The estimated value of services export for August 2022* is USD 23.54 Billion, exhibiting a positive growth of 15.12 per cent vis-a-vis August 2021 (USD 20.45 Billion).
• The estimated value of services import for August 2022* is USD 13.94 Billion exhibiting a positive growth of 17.47 per cent vis-à-vis August 2021 (USD 11.87 Billion).
• The services trade balance in August 2022* is estimated at USD 9.60 Billion, which is an increase of 11.86 per cent over August 2021 (USD 8.59 Billion).

Fig 7: Services Trade during August 2022*

• The estimated value of services export for April-August 2022* is USD 118.30 Billion, exhibiting a positive growth of 23.20 per cent vis-a-vis April-August 2021 (USD 96.03 Billion).
• The estimated value of services imports for April-August 2022* is USD 72.88 Billion exhibiting a positive growth of 35.81 per cent vis-à-vis April-August 2021 (USD 53.67 Billion).
• The services trade balance for April-August 2022* is estimated at USD 45.42 Billion as against USD 42.36 Billion in April-August 2021, which is an increase of 7.22 per cent.

Fig 8: Services Trade during April-August 2022*

Table 5: Export Growth in Commodity Groups in August 2022

 Table 6: Import Growth in Commodity Groups in August 2022

Table 7: MERCHANDISE TRADE 

Table 8: SERVICES TRADE