July Export Fall 7% Over June, Import Up 4.3%, Trade Deficit Widens

·      Huge Drop in Textiles, Energy Prices Volatile

India’s Merchandise Trade: Preliminary Data of July 2022

India has achieved merchandise export of USD 35.24 billion in July 2022, almost at similar levels of USD 35.51 billion in July 2021. This has been achieved despite measures to control inflation (Iron Ore & Pellets, Iron and Steel, Petroleum Products, etc.) and the continued disruptions of supply chains due to Covid and Russia-Ukraine conflict.

Value of non-petroleum exports in July 2022 was 29.82 USD billion, registering a positive growth of only 0.48% over non-petroleum exports of USD29.67 billion in July 2021. The cumulative value of non-petroleum exports in April -July 2022-23 was USD 123.90 billion, an increase of 10.3% over USD 112.32 billion in April -July 2021-22.

Value of non-petroleum and non-gems and jewellery exports in July 2022 was USD 26.54 billion, registering a positive growth of 1.24% over non-petroleum and non-gems and jewellery exports of USD 26.21 billion in July 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -July 2022-23was USD 110.39 billion, an increase of 10.73% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 99.69 billion in April -July 2021-22.

India’s merchandise import in July 2022 was USD 66.26 billion, an increase of 43.59% over USD 46.15 billion in July 2021. India’s merchandise imports in April -July 2022-23 was USD 256.43 billion with an increase of 48.12% over USD 173.12 billion in April -July 2021-22.

Value of non-petroleum imports was USD 45.13 billion in July 2022 with a positive growth of 33.74% over non-petroleum imports of USD 33.74 billion in July 2021.The cumulative value of non-petroleum imports in April -July 2022-23was USD 174.39 billion, showing an increase of 34.35% compared to non-oil imports of USD 129.81 billion in April -July 2021-22.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 38.44 billion in July 2022 with a positive growth of 42.88%over non-oil and non-GJ imports of USD 26.9 billion in July 2021.Non-oil, non-GJ (Gold, Silver & Precious Metals) imports in April -July 2022-23 was USD 147.55 billion, recording a positive growth of 36.93%, as compared to non-oil and non-GJ imports of USD 107.75 billion in April -July 2021-22.

The trade deficit in July 2022 was USD 31.02 billion, while it was 100.01 billion USD during April -July 2022-23.

 

 

Statement1:India’s Total Trade in Merchandise goods in July 2022

 

Value in Billion USD

%Growth

 

JULY'22

JULY'21

JULY'22 vs JULY'21

Exports

35.24

35.51

-0.76

Imports

66.26

46.15

43.59

Deficit

31.02

10.63

-

Statement 2: India’s Total Trade in Merchandise goods in April-July 2022-23

 

Value in Billion USD

% Growth

 

APR’22-JULY'22

APR’21-JULY'21

APR-JULY 2022-23 vs APR-JULY 2021-22

Exports

156.41

131.06

19.35

Imports

256.43

173.12

48.12

Deficit

100.01

42.07

-

Statement 3: Merchandise Non-POL Trade in July 2022

 

Value in Billion USD

% Growth

 

JULY'22

JULY'21

JULY'22 vs JULY'21

Exports

29.82

29.67

0.48

Imports

45.13

33.74

33.74

Statement 4: Merchandise Non-POL Trade in April-July 2022-23

 

Value in Billion USD

% Growth

 

APR’22-JULY'22

APR’21-JULY'21

APR-JULY 2022-23 vs APR-JULY 2021-22

Exports

123.90

112.32

10.30

Imports

174.39

129.81

34.35

Statement 5: Merchandise Non-POL Non-GJ Trade in July 2022

 

Value in Billion USD

% Growth

 

JULY'22

JULY'21

JULY'22 vs JULY'21

Exports

26.54

26.21

1.24

Imports

38.44

26.90

42.88

 

 

Statement 6: Merchandise Non-POL Non-GJ Trade in April-July 2022-23

 

Value in Billion USD

% Growth

 

APR’22-JULY'22

APR’21-JULY'21

APR-JULY 2022-23 vs APR-JULY 2021-22

Exports

110.39

99.69

10.73

Imports

147.55

107.75

36.93

Top 10 major commodity groups covering 81% of total exports in July 2022, are –

Statement 7: Exports of Top 10 Major Commodity Groups in July 2022

 

Value of Export (Million US$)

Share (%)

Growth (%)

Major Commodity Group

July-22

July-21

July-22

July-22 over July-21

Engineering goods

9303.21

9545.20

26.40

-2.54

Petroleum products

5427.21

5840.02

15.40

-7.07

Gems and Jewellery

3279.34

3459.67

9.30

-5.21

Organic and Inorganic chemicals

2618.54

2426.09

7.43

7.93

Drugs and Pharmaceuticals

2116.29

2145.67

6.00

-1.37

Electronic goods

1817.51

1244.20

5.16

46.08

RMG of all Textiles

1380.45

1389.22

3.92

-0.63

Cotton Yarn/Fabs./Madeups, Handloom products etc.

943.50

1315.42

2.68

-28.27

Rice

925.64

710.94

2.63

30.20

Plastic and Linoleum

801.09

832.61

2.27

-3.79

Total of 10 Major Commodity Groups

28612.77

28909.05

81.19

-1.02

Rest

6630.84

6603.77

18.81

0.41

Total Exports

35243.61

35512.82

100.00

-0.76

 

 

Top 10 major commodity groups covering 78% of total importsin July 2022, are –

Statement 8: Imports of Top 10 Major Commodity Groups in July 2022

 

Value of Import (Million US$)

Share (%)

Growth (%)

Major Commodity Group

July-22

July-21

July-22

July-22 over July-21

Petroleum, Crude & products

21132.90

12402.06

31.89

70.40

Electronic goods

6800.89

5319.77

10.26

27.84

Coal, Coke & Briquettes, etc.

5179.98

1958.92

7.82

164.43

Machinery, electrical & non-electrical

3812.57

2821.52

5.75

35.12

Pearls, precious & Semi-precious stones

3214.10

2628.17

4.85

22.29

Organic & Inorganic Chemicals

3141.19

2440.47

4.74

28.71

Gold

2370.32

4203.06

3.58

-43.60

Artificial resins, plastic materials, etc.

2191.18

1313.21

3.31

66.86

Vegetable Oil

2015.77

1369.58

3.04

47.18

Non-ferrous metals

1815.26

1297.09

2.74

39.95

Total of 10 Major Commodity Groups

51674.18

35753.86

77.98

44.53

Rest

14590.15

10393.11

22.02

40.38

Total Imports

66264.32

46146.97

100.00

43.59

Top 10 major commodity groups covering 81% of total exports in April 2021-July 2022, are –

Statement 9: Exports of Top 10 Major Commodity Groups in April 2021-July 2022

 

Value of Export (Million US$)

Share (%)

Growth (%)

Major Commodity Group

Apr’22-July’22

Apr’21-July’21

Apr’21-July’22

Apr’22-July’23 over Apr’21-July’22

Engineering goods

38272.24

35437.95

24.47

8.00

Petroleum products

32512.21

18731.63

20.79

73.57

Gems and Jewellery

13511.47

12631.44

8.64

6.97

Organic and Inorganic chemicals

10778.63

9300.92

6.89

15.89

Drugs and Pharmaceuticals

8374.09

7934.51

5.35

5.54

Electronic goods

6567.00

4212.38

4.20

55.90

RMG of all Textiles

5871.34

4794.93

3.75

22.45

Cotton Yarn/Fabs./Madeups, Handloom products etc.

4107.66

4681.56

2.63

-12.26

Rice

3648.22

3123.11

2.33

16.81

Plastic and Linoleum

3151.45

3403.82

2.01

-7.41

Total of 10 Major Commodity Groups

126794.30

104252.24

81.07

21.62

Rest

29616.19

26803.13

18.93

10.50

Total Exports

156410.49

131055.37

100.00

19.35

Top 10 major commodity groups covering 80% of total imports in April 2021-July 2022, are –

Statement 10: Imports of Top 10 Major Commodity Groups in April 2021-July 2022

 

Value of Import (Million US$)

Share (%)

Growth (%)

Major Commodity Group

Apr’22-July’22

Apr’21-July’21

Apr’21-July’22

Apr’22-July’23 over Apr’21-July’22

Petroleum, Crude & products

82030.43

43314.28

31.99

89.38

Electronic goods

25389.90

19220.00

9.90

32.10

Coal, Coke & Briquettes, etc.

22323.14

7831.34

8.71

185.05

Machinery, electrical & non-electrical

14316.11

12036.53

5.58

18.94

Organic & Inorganic Chemicals

13269.85

9445.84

5.17

40.48

Gold

12860.94

12088.11

5.02

6.39

Pearls, precious & Semi-precious stones

11535.04

9915.71

4.50

16.33

Artificial resins, plastic materials, etc.

8553.75

6221.55

3.34

37.49

Vegetable Oil

7265.81

5526.97

2.83

31.46

Non-ferrous metals

6956.56

5334.08

2.71

30.42

Total of 10 Major Commodity Groups

204501.55

130934.41

79.75

56.19

Rest

51923.47

42189.54

20.25

23.07

Total Imports

256425.02

173123.96

100.00

48.12