India’s April-October trade deficit estimated at $32.15 billion

Merchandise exports from the country stood at $24.89 billion (Rs1,82,845.95 crore)  in October 2020 against exports valued at $26.23 billion (Rs1,86,358.06 crore)  in October 2019, showing a negative growth of (-) 5.12 per cent in dollar terms and a negative growth of  (-) 1.88 per cent in rupee terms.

Major commodities/commodity groups which have recorded positive growth during October 2020 vis-à-vis October 2019 are rice, other cereals, oil meals, iron ore, oil seeds, carpet, cereal preparations and miscellaneous processed items, ceramic products and glassware, spices, drugs and pharmacuticals, Jute mfg. including floor covering, meat, dairy and poultry products, handicrafts excl. handmade carpet, fruits and vegetables, mica, coal and other ores, minerals, including processed minerals, cotton yarn/fabs./made-ups, handloom products etc, RMG of all textiles, tobacco, organic and inorganic chemicals and tea.

Major commodities/commodity groups which have recorded negative growth during October 2020 vis-à-vis October 2019 are petroleum products, cashew, gems and jewellery, leather and leather products, man-made yarn/fabs./made-ups etc, electronic goods, coffee, marine products, plastic and linoleum and engineering goods.

Cumulative value of exports for the period April-October 2020-21 stood at $150.14 billion (Rs11,21,375.89 crore) against $185.40 billion (Rs13,00,244.23 crore) during the period April-October 2019-20, registering a negative growth of (-) 19.02 per cent in dollar terms  and a negative growth of (-)13.76 per cent in rupee terms.

India imported  goods valued at $33.61 billion (Rs2,46,856.53 crore) in October 2020, which is a decline of 11.53 per cent in dollar terms and (-) 8.52per cent in rupee terms over imports valued at $37.99 billion (Rs2,69,852.86 crore) in October 2019. Cumulative value of imports for the period April-October 2020-21 stood at $182.29 billion  (Rs13,61,543.11 crore), against imprts valued at $286.07 billion (Rs20,05,403.85 crore) during the period April-October 2019-20, registering a negative growth of (-) 36.28 per cent in dollar terms and a negative growth of (-) 32.11 per cent in upee terms.

Oil imports in October 2020 stood at $5.98 billion (Rs43,935.17 crore), which was 38.52 per cent lower in dollar terms nd 36.43 per cent lower in rupee terms, compared to $9.73 billion (Rs69,111.05 crore) in October 2019. Oil imports in April-October 2020-21 stood at $37.84 billion (Rs2,82,930.87 crore), which was 49.50 per cent lower in dollar terms and 46.13 per cent lower in rupee terms compared to $74.92 billion (Rs5,25,219.68 crore), over the same period last year.

Non-oil imports in October 2020 were estimated at $27.62 billion (Rs2,02,921.36 crore), which was 2.24 per cent lower in dollar terms and 1.09 per cent higher in rupee terms, compared to $28.26 billion (Rs2,00,741.82 crore) in October2019. Non-oil imports in April-October 2020-21 stood at $144.45 billion (Rs10,78,612.24 crore) which was 31.58 per cent lower in dollar terms and 27.13 per cent lower in rupee terms compared to $211.14 billion (Rs14,80,184.16 crore) in April-October 2019-20.

India’s merchandise trade deficit for October 2020 was estimated at $8.71 billion as against a deficit of $11.75 billion in October 2019, which is a decline of 25.86 per cent.