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India’s overall exports (Merchandise and Services combined) in October 2022* are estimated to be USD 58.36 Billion, exhibiting a positive growth of 4.03 per cent over the same period last year. Overall imports in October 2022* are estimated to be USD 73.00 Billion, exhibiting a positive growth of 11.82 per cent over the same period last year.
Table 1: Trade during October 2022*
|
|
| October 2022 (USD Billion) | October 2021 (USD Billion) |
| Merchandise | Exports | 29.78 | 35.73 |
| Imports | 56.69 | 53.64 | |
| Services* | Exports | 28.58 | 20.37 |
| Imports | 16.30 | 11.64 | |
| Overall Trade (Merchandise +Services) * | Exports | 58.36 | 56.10 |
| Imports | 73.00 | 65.28 | |
| Trade Balance | -14.63 | -9.18 |
* Note: The latest data for services sector released by RBI is for September 2022. The data for October 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-October2021 and April-June 2022 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during October 2022*
India’s overall exports (Merchandise and Services combined) in April-October 2022* are estimated to be USD 444.74 Billion, exhibiting a positive growth of 19.56 per cent over the same period last year. Overall imports in April-October 2022* are estimated to be USD 543.26 Billion, exhibiting a positive growth of 33.80 per cent over the same period last year.
Table 2: Trade during April-October 2022*
|
|
| April-October 2022 (USD Billion) | April-October 2021 (USD Billion) |
| Merchandise | Exports | 263.35 | 233.98 |
| Imports | 436.81 | 328.14 | |
| Services* | Exports | 181.39 | 138.01 |
| Imports | 106.45 | 77.89 | |
| Overall Trade (Merchandise+ Services) * | Exports | 444.74 | 371.98 |
| Imports | 543.26 | 406.03 | |
| Trade Balance | -98.52 | -34.05 |
Fig 2: Overall Trade during April-October 2022*
MERCHANDISE TRADE
Merchandise exports in October 2022 were USD 29.78 Billion, as compared to USD 35.73 Billion in October 2021.
Merchandise imports in October 2022 were USD 56.69 Billion, as compared to USD 53.64 Billion in October 2021.
Fig 3: Merchandise Trade during October 2022
Merchandise exports for the period April-October 2022 were USD 263.35 Billion as against USD 233.98 Billion during the period April-October 2021.
Merchandise imports for the period April-October 2022 were USD 436.81 Billion as against USD 328.14 Billion during the period April-October 2021.
The merchandise trade deficit for April-October 2022 was estimated at USD 173.46 Billion as against USD 94.16 Billion in April-October 2021.
Fig 4: Merchandise Trade during April-October 2022
Non-petroleum and non-gems & jewellery exports in October 2022 were USD 21.72 Billion, compared to USD 26.15 Billion in October 2021.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 34.40, compared to USD 32.88 Billion in October 2021.
Table 3: Trade excluding Petroleum and Gems & Jewellery during October 2022
|
| October 2022 (USD Billion) | October 2021 (USD Billion) |
| Non- petroleum exports | 25.03 | 30.37 |
| Non- petroleum imports | 40.84 | 41.36 |
| Non-petroleum & Non Gems & Jewellery exports | 21.72 | 26.15 |
| Non-petroleum & Non Gems & Jewellery imports | 34.40 | 32.88 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during October 2022
Non-petroleum and non-gems & jewellery exports during April-October 2022 was USD 182.05 Billion, as compared to USD 176.52 Billion in April-October 2021.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 258.30 Billion in April-October 2022 as compared to USD 198.58 Billion in April-October 2021.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-October 2022
|
| April-October 2022 (USD Billion) | April-October 2021 (USD Billion) |
| Non- petroleum exports | 206.00 | 200.04 |
| Non- petroleum imports | 305.82 | 246.33 |
| Non-petroleum & Non Gems & Jewellery exports | 182.05 | 176.52 |
| Non-petroleum & Non Gems & Jewellery imports | 258.30 | 198.58 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-October 2022
SERVICES TRADE
The estimated value of services export for October 2022* is USD 28.58 Billion, as compared to USD 20.37 Billion in October 2021.
The estimated value of services import for October 2022* is USD 16.30 Billion as compared to USD 11.64 Billion in October 2021.
Fig 7: Services Trade during October 2022*
The estimated value of services export for April-October 2022* is USD 181.39 Billion as compared to USD 138.01 Billion in April-October 2021.
The estimated value of services imports for April-October 2022* is USD 106.45 as compared to USD 77.89 Billion in April-October 2021.
The services trade surplus for April-October 2022* is estimated at USD 74.93 Billion as against USD 60.12 Billion in April-October 2021.
Fig 8: Services Trade during April-October 2022*
Table 5: Export Growth in Commodity Groups in October 2022
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| OCT'21 | OCT'22 | OCT'22 | ||
|
| Commodity groups exhibiting positive growth | |||
| 1 | Oil seeds | 84.26 | 149.98 | 78.00 |
| 2 | Oil Meals | 55.80 | 91.87 | 64.64 |
| 3 | Electronic Goods | 1347.00 | 1853.77 | 37.62 |
| 4 | Tobacco | 85.28 | 102.68 | 20.40 |
| 5 | Tea | 65.37 | 72.88 | 11.49 |
| 6 | Rice | 692.38 | 703.96 | 1.67 |
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| OCT'21 | OCT'22 | OCT'22 | ||
|
| Commodity Groups exhibiting negative growth | |||
| 7 | Iron Ore | 78.73 | 7.83 | -90.05 |
| 8 | Handicrafts excl. hand made carpet | 198.99 | 98.05 | -50.73 |
| 9 | Cotton Yarn/Fabs./made-ups, Handloom Products etc. | 1335.97 | 719.03 | -46.18 |
| 10 | Jute Mfg. including Floor Covering | 43.55 | 23.57 | -45.88 |
| 11 | Cashew | 43.30 | 25.23 | -41.73 |
| 12 | Carpet | 173.19 | 107.13 | -38.14 |
| 13 | Other cereals | 62.23 | 44.53 | -28.44 |
| 14 | Plastic & Linoleum | 782.88 | 580.53 | -25.85 |
| 15 | Man-made Yarn/Fabs./made-ups etc. | 468.69 | 350.56 | -25.20 |
| 16 | Meat, dairy & poultry products | 383.67 | 299.20 | -22.02 |
| 17 | Gems & Jewellery | 4221.22 | 3311.27 | -21.56 |
| 18 | Engineering Goods | 9401.21 | 7402.97 | -21.26 |
| 19 | RMG of all Textiles | 1254.13 | 988.72 | -21.16 |
| 20 | Mica, Coal & Other Ores, Minerals including processed minerals | 441.80 | 351.90 | -20.35 |
| 21 | Spices | 333.22 | 268.11 | -19.54 |
| 22 | Organic & Inorganic Chemicals | 2569.37 | 2146.88 | -16.44 |
| 23 | Petroleum Products | 5355.77 | 4751.69 | -11.28 |
| 24 | Marine Products | 807.77 | 720.32 | -10.83 |
| 25 | Ceramic products & glassware | 284.47 | 256.84 | -9.71 |
| 26 | Drugs & Pharmaceuticals | 2064.45 | 1873.73 | -9.24 |
| 27 | Cereal preparations & miscellaneous processed items | 186.91 | 174.38 | -6.70 |
| 28 | Coffee | 85.71 | 80.11 | -6.53 |
| 29 | Leather & leather products | 370.68 | 349.03 | -5.84 |
| 30 | Fruits & Vegetables | 225.88 | 222.50 | -1.50 |
*Engineering goods exhibiting a fall of approx. USD 2 Billion includes steel and its products.
Table 6: Import Growth in Commodity Groups in October 2022
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| OCT'21 | OCT'22 | OCT'22 | ||
|
| Commodity Groups exhibiting positive growth | |||
| 1 | Cotton Raw & Waste | 38.11 | 172.13 | 351.67 |
| 2 | Fertilisers, Crude & manufactured | 805.39 | 2105.03 | 161.37 |
| 3 | Newsprint | 32.21 | 68.75 | 113.44 |
| 4 | Pulp and Waste paper | 139.62 | 224.98 | 61.14 |
| 5 | Iron & Steel | 1444.65 | 1991.41 | 37.85 |
| 6 | Petroleum, Crude & products | 12278.88 | 15852.43 | 29.10 |
| 7 | Leather & leather products | 66.12 | 85.35 | 29.08 |
| 8 | Transport equipment | 1961.71 | 2495.03 | 27.19 |
| 9 | Wood & Wood products | 471.24 | 575.89 | 22.21 |
| 10 | Project goods | 44.33 | 48.38 | 9.14 |
| 11 | Professional instrument, Optical goods, etc. | 467.89 | 506.31 | 8.21 |
| 12 | Non-ferrous metals | 1427.90 | 1539.70 | 7.83 |
| 13 | Textile yarn Fabric, made-up articles | 199.48 | 207.71 | 4.13 |
| 14 | Machinery, electrical & non-electrical | 3536.06 | 3632.12 | 2.72 |
| 15 | Artificial resins, plastic materials, etc. | 1725.40 | 1762.40 | 2.14 |
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| OCT'21 | OCT'22 | OCT'22 | ||
|
| Commodity Groups exhibiting negative growth | |||
| 16 | Sulphur & Unroasted Iron Pyrites | 31.93 | 11.23 | -64.83 |
| 17 | Pulses | 378.41 | 204.81 | -45.88 |
| 18 | Silver | 897.35 | 585.09 | -34.80 |
| 19 | Gold | 5101.70 | 3700.15 | -27.47 |
| 20 | Dyeing/tanning/colouring materials | 413.11 | 304.77 | -26.23 |
| 21 | Pearls, precious & Semi-precious stones | 2482.70 | 2159.93 | -13.00 |
| 22 | Fruits & vegetables | 239.53 | 211.40 | -11.74 |
| 23 | Organic & Inorganic Chemicals | 2634.16 | 2359.02 | -10.45 |
| 24 | Electronic goods | 6828.85 | 6200.22 | -9.21 |
| 25 | Chemical material & products | 934.43 | 855.67 | -8.43 |
| 26 | Metaliferrous ores & other minerals | 794.86 | 728.11 | -8.40 |
| 27 | Machine tools | 402.27 | 383.79 | -4.59 |
| 28 | Coal, Coke & Briquettes, etc. | 3308.85 | 3178.07 | -3.95 |
| 29 | Vegetable Oil | 1636.90 | 1580.63 | -3.44 |
| 30 | Medicinal & Pharmaceutical products | 657.64 | 642.78 | -2.26 |
***
