India’s April-May trade deficit hits $21.38 bn as global trade picks up
16 Jun 2021
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India’s mercantile imports in May 2021 also shot up by 73.64 per cent to $38.55 billion (Rs2,82,453.56 crore), while exports from the country increased by 69.35 per cent to $32.27 billion, showing a trade deficit of $6.08 billion.
Overall trade deficit in the first two months of the financial year (April-May 2021-22) stood at $21.38 billion as both imports and exports showed major gains.
India’s mercantile exports shot up to $32.27 billion (Rs2,36,426.16 crore) in May 2021, against exports valued at $19.05 billion (Rs1,44,166.01 crore) in May 2020, showing a growth of 69.35 per cent in dollar terms and a growth of 64.00 per cent in rupee terms.
May ’21 exports also showed a positive growth of 8.11 per cent in dollar terms and 13.53 per cent growth in rupee terms.
The commodities/commodity groups which have recorded positive growth during May 2021 vis-à-vis May 2020 are `other cereals’, `jute mnanufacturing (including floor covering)’, ‘petroleum products’, ‘handicrafts (excluding handmade carpets’, `gems and jewellery’, `leather and leather products’, ‘meat, dairy and poultry products’, `man-made yarn/fabrics/made-ups etc.’, `cotton yarn/fabrics/made-ups, handloom products etc,’ `RMG of all textiles’, `carpets’ , `electronic goods’, `ceramic products and glassware’, `mica, coal and other ores, minerals (including processed minerals)’, `engineering goods’, `cereal preparations and miscellaneous processed items’, `cashew’, `marine products’, `iron ore’, `plastic and linoleum’, `organic and inorganic chemicals’, `tobacco’, `rice’, `oil meals’ and `coffee’.
The commodities/commodity groups that have recorded negative growth during May 2021 vis-à-vis May 2020 are `fruits and v vegetables’, `oilseeds’, `drugs and pharmaceuticals’ and `tea and spices.’
Cumulative exports for the period April-May 2021 stood at $62.89 billion (Rs4,64,497.92 crore) against $29.41 billion (Rs2,23,117.42 crore) during the period April-May 2020, showing a growth of 113.85 per cent in dollar terms and a growth of 108.19 per cent in rupee terms. Exports in April-May 2021 were up 12.54 per cent in dollar terms and up 19.40 per cent in rupee terms compared to exports in April-May 2019.
Non-petroleum and non-gems and jewellery exports in May 2021 stood at $23.97 billion, against $16.36 billion in May 2020, showing a growth of 46.50 per cent. Exports of non-petroleum and non-gems and jewellery exports in May 2021 showed a growth of 11.51 per cent compared to May 2019 as ell.
Cumulative exports of non-petroleum and non-gems and jewellery products in April-May 2021 stood at $47.59 billion, showing an increase of 87.08 per cent compared to exports value at $25.44 billion in the corresponding period in 2020-21. Exports in April-May 21 were up 15.78 per cent compared to exports in April-May 2019.
India’s imports in May 2021 also shot up to $38.55 billion (Rs2,82,453.56 crore), which is an increase of 73.64 per cent in dollar terms and 68.15 per cent in rupee terms over imports valued at $22.20 billion (Rs1,67,977.68 crore) in May 2020. Imports in May 2021 were down 17.42 per cent in dollar terms and down 13.28 per cent in rupee terms compared to imports in May 2019.
Cumulative value of imports for the period April-May 2021 stood at $84.27 billion (Rs6,22,958.62 crore), as against $39.32 billion (Rs2,98,502.76 crore) during April-May 2020, showing a growth of 114.31 per cent in dollar terms and a growth of 108.69 per cent in rupee terms. Imports in April-May 2021 registered a negative growth of (-) 5.39 per cent in dollar terms and positive growth of 0.48 per cent in rupee terms in comparison to April-May 2019.
India’s oil imports in May 2021 stood at $9.45 billion (Rs69,255.28 crore), which was 171.10 per cent higher in dollar terms and 162.52 per cent higher in rupee terms compared to oil imports valued at $3.49 billion (Rs26,380.50 crore) in May 2020. As compared to May 2019, oil imports in May 2021 were 24.94 per cent lower in dollar terms and 21.18 per cent lower in rupee terms.
Oil imports in April-May 2021 stood at $20.32 billion (Rs1,50,224.04 crore) which was 149.44 per cent higher in dollar terms and 142.62 per cent higher in rupee terms compared to oil imports valued at $8.15 billion (Rs61,917.72 crore) in the same period last year. As compared to April-May 2019, oil imports in April-May 2021 were 15.86 per cent lower in dollar terms and 10.66 per cent lower in rupee terms.
Non-oil imports in May 2021 were estimated at $29.10 billion (Rs2,13,198.28 crore) which was 55.48 per cent higher in dollar terms and 50.57 per cent higher in rupee terms compared to such imports valued at $18.71 billion (Rs1,41,597.18 crore) in May 2020. As compared to May 2019, non-oil imports in May 2021 were 14.64 per cent lower in dollar terms and 10.37 per cent lower in rupee terms.
Non-oil imports in April-May 2021 stood at $63.95 billion (Rs4,72,734.58 crore), which was 105.13 per cent higher in dollar terms and 99.82 per cent higher in rupee terms compared to such imports valued at $31.17 billion (Rs2,36,585.04 crore) in April-May 2020. As compared to April-May 2019, non-oil imports in April-May 2021 were 1.49 per cent lower in dollar terms and 4.62 per cent higher in rupee terms.
Non-oil and non-gold imports in May 2021 stood at $28.42 billion, recording a growth of 52.48 per cent compared to such imports valued at $18.64 billion in May 2020. Non-oil and non-gold imports in May 2021 recorded a negative growth of (-) 3.04 per cent over May 2019. Non-oil and non-gold imports stood at $57.03 billion in April-May 2021, recording a positive growth of 83.40 per cent compared to such imports valued at $31.10billion in April-May 2020. Non-oil and non-gold imports in April-May 2021 recorded a growth of 1.55 per cent over April-May 2019.
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