Feb Exports in Doldrums, Imports Up

·      India’s merchandise exports in February 2021 was USD 27.67 billion as compared to USD 27.74 billion in February 2020, a decrease of 0.25%.

·      India’s merchandise imports in February 2021 were USD 40.55 billion as compared to USD 37.90 billion in February 2020, an increase of 6.98%.

·      India is thus a net importer in February 2021 with a trade deficit of USD 12.88 billion as compared to trade deficit of USD 10.16 billion in February 2020, increase of 25.84%.

·      Value of non-petroleum and non-gems and jewellery exports in February 2021 was USD 22.48 billion as compared to USD 21.28 billion in February 2020, a positive growth of 5.65%.

·      Non-oil, non-GJ (gold, silver & Precious metals) imports were USD 23.85 billion in February 2021 as compared to non-oil and non-GJ imports of USD 22.21 billion in February 2020, a positive growth of 7.40%

·      Top 5 commodity groups of export which recorded positive growth during February 2021 vis-à-vis February 2020 are: Other Cereals (542.06%), Oil meals (244.12%), Iron Ore (167.79%), Jute manufacturing including floor covering (45.40%), and Rice (30.10%)

·      Top 5 commodity groups of import showing a fall in February 2021vis-à-vis February 2020 are: Silver (-91.55%), Newsprint (-80.76%), Fertilisers, Crude & manufactured (-46.01), Coal, Coke & Briquettes, etc. (-28.09%), and Leather & leather products (-26.75)

[MoC&I Press Release/02 March 2021]

India’s merchandise exports in February 2021 were USD 27.67 billion as compared to USD 27.74 billion in February 2020, a decrease of 0.25%.Exports during April-February2020-21 were USD 255.92 billion, as compared to USD 291.87 billion during the same period of last year, exhibiting a negative growth of 12.32%.

India’s merchandise imports in February 2021were USD 40.55 billion, as compared to USD 37.90 billion in February 2020, an increase of 6.98%. Merchandise imports during April-February 2020-21 were USD 340.88 billion, as compared to USD 443.24 billion during the same period of last year, exhibiting a negative growth of 23.09%.

India is thus a net importer in February 2021, with a trade deficit of USD 12.88 billion, as compared to trade deficit of USD 10.16 billion in February 2020, improvement by 26.74%.

In February 2021, the value of non-petroleum exports was USD 25.16 billion, registering a positive growth of 3.55% over February 2020. The value of non-petroleum and non-gems and jewellery exports in February 2021 was USD 22.48 billion as compared to USD 21.28 billion in February 2020, registering a positive growth of 5.65%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-February2020-21 was USD 211.25 billion, as compared to USD 219.22 billion for the corresponding period in 2019-20, exhibiting a decrease of 3.63%.

In February 2021, Oil imports were USD 8.99 billion, as compared to USD 10.78 billion in February 2020, a decline by 16.63%. Oil imports in April-February2020-21 were USD 72.08 billion, as compared to USD 120.50 billion, showing a decline of 40.18%.

Non-oil imports in February 2021 were estimated at USD 31.56 billion, as compared to USD 27.12 billion in February 2020, showing an increase of 16.37%. Non-oil imports in April-February2020-21 were USD 268.78 billion, as compared to USD 322.74billion, registering a decline of 16.73% during the same period of the last year.

Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 23.85 billion in February 2021, recording a positive growth of 7.40%, as compared to non-oil and non-GJ imports of USD 22.21 billion in February 2020. Non-oil and non-GJ imports were USD 225.49billion in April-February 2020-21, recording a negative growth of 17.11%, as compared to non-oil and non-GJ imports of USD 272.05 billion in April-February 2019-20.

Major commodities of export which have recorded positive growth during February 2021 vis-à-vis February 2020 are: Other cereals (542.06.62%), Oil meals (244.12%), Iron ore (167.79%), Jute mfg. Including floor covering (45.4%),Rice (30.1%), Cereal preparations and miscellaneous processed item (26.68%), Meat, dairy and poultry products (26.43%),Carpet (19.4%), Spices (18.46%), Drugs and pharmaceuticals (14.58%), Handicrafts excl. Hand-made carpet (13.14%), Ceramic products and glassware (10.8%), Cotton yarn/fabrics/made-ups, handloom products etc. (9.34%), Tobacco (7.69%), Plastic and linoleum (3.03%), Mica, coal and other ores, minerals including process (2.33%), and Organic and Inorganic Chemicals (1.16%).

Major commodities of export which have recorded negative growth during February 2021 vis-à-vis February 2020 are Petroleum products (-27.13%), Oil Seeds (-25.45%), Leather and leather manufactures (-21.62%), Cashew (-18.6%), Gems and Jewellery (-11.18%), RMG of All Textiles (-8.5%), Electronic Goods (-5.8%), Fruits and vegetables (-4.01%), Man-made yarn/fabrics/made-ups etc. (4.0%), Engineering goods (-2.56%), Tea (-2.49%),Coffee (-0.73%), and Marine products (-0.25%).

Major commodity groups of import showing positive growth in February 2021 over the corresponding month of last year are: Sulphur & Unroasted Iron Pyrites (235.96%), Gold (123.95%), Dyeing/tanning/colouring materials (46.38%), Chemical material & products (45.51%), Electronic goods (37.77%), Organic & Inorganic Chemicals (37.61%), Metaliferrous ores & other minerals (29.52%), Artificial resins, plastic materials, etc. (25.07%), Iron & Steel (23.41%), Textile yarn Fabric, made-up articles (21.43%), Wood & Wood products (18.56%), Medcnl. & Pharmaceutical products (15.38%), %), and Non-ferrous metals (12.39%).

Major commodity groups of import showing negative growth in February 2021 over the corresponding month of last year are: Silver (-91.55%), Newsprint (-80.76%), Fertilisers, Crude & manufactured (-46.01%), Coal, Coke & Briquettes, etc. (-28.09%), Leather & leather products (-26.75%), Transport equipment (-23.0%), Petroleum, Crude & products (-16.63%), Project Goods (-12.56%), Pulses (-11.6%), Machine tools (-6.35%), Cotton Raw & Waste (-5.08%), Machinery, electrical & non-electrical (-4.85%), Professional instrument, Optical goods, etc. (-3.17%), Pulp and Waste paper (-2.8%), Pearls, precious & Semi-precious stones (-1.42%),Fruits & vegetables (-0.88%), and Vegetable Oil (-0.56%).

 

Merchandise Trade: Preliminary Data, February 2021

                                                                                 Summary Value in USD Billion

 

Total

Non-Petroleum

Non- Petroleum and Non-Gems & Jewellery

 

2019-20

2020-21

% change

2019-20

2020-21

% change

2019-20

2020-21

% change

Exports

27.74

27.67

-0.25

24.30

25.16

3.55

21.28

22.48

5.65

Imports

37.90

40.55

6.98

27.12

31.56

16.37

22.21

23.85

7.40

Deficit

-10.16

-12.88

26.74

-2.82

-6.40

126.65

-0.93

-1.37

47.41

 

 

 

 

 

 

 

 

 

 

Change by top Commodity Groups

                                                                                                  Value in USD Million

                          Top Increase in February 2021 as compared to February 2020
                          Top Decline in February 2021 as compared to February 2020

 

 

Commodity group

Change in value

% change

Commodity group

Change in value

% change

Export

IRON ORE

294.09

167.79

PETROLEUM PRODUCTS

-933.82

-27.13

DRUGS AND PHARMACEUTICALS

254.55

14.58

GEMS AND JEWELLERY

-337.64

-11.18

RICE

210.29

30.10

ENGINEERING GOODS

-185.01

-2.56

Import

GOLD

2928.20

123.95

PETROLEUM, CRUDE & PRODUCTS

-1792.43

-16.63

ELECTRONIC GOODS

1326.97

37.77

COAL, COKE & BRIQUETTES, ETC.

-514.85

-28.09

ORGANIC & INORGANIC CHEMICALS

559.09

37.61

TRANSPORT EQUIPMENT

-505.45

-23.00