India’s Foreign Trade: October 2020

ਮਾਫ਼ ਕਰਨਾ, ਇਹ ਖਬਰ ਤੁਹਾਡੀ ਬੇਨਤੀ ਭਾਸ਼ਾ ਵਿੱਚ ਉਪਲਬਧ ਨਹੀਂ ਹੈ। ਕਿਰਪਾ ਕਰਕੇ ਇੱਥੇ ਦੇਖੋ।

India’s Foreign Trade: October 2020

New Delhi, November 13

India’s overall exports (Merchandise and Services combined) in April-October 2020-21* are estimated to be USD 265.09 Billion, exhibiting a negative growth of (-) 14.53 per cent over the same period last year. Overall imports in April-October 2020-21* are estimated to be USD 248.58 Billion, exhibiting a negative growth of (-)31.89 per cent over the same period last year.

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

• Exports in October 2020 were USD 24.89 Billion, as compared to USD 26.23 Billion in October 2019, exhibiting a negative growth of (-)5.12 per cent. In Rupee terms, exports were Rs. 1,82,845.95 Crore in October 2020, as compared to Rs. 1,86,358.06 Crore in October 2019, registering a negative growth of (-)1.88 per cent.
• Major commodities/commodity groups which have recorded positive growth during October 2020 vis-à-vis October 2019 are Other cereals  (378.23%), Rice (113.62%), Oil meals (78.57%), Iron ore (74.14%), Oil seeds (54.21%), Carpet (37.67%), Cereal preparations & miscellaneous processed items (36.18%), Ceramic products & glassware (34.92%), Spices (21.85%), Drugs & pharmaceuticals (21.85%), Jute mfg. including floor covering (18.73%), Meat, dairy & poultry products (16.66%), Handicrafts excl. handmade carpet (11.38%), Fruits & vegetables (9.87%), Mica, Coal & other ores, minerals including processed minerals (9.64%), Cotton yarn/fabs./made-ups, handloom products etc. (6.68%), RMG of all textiles (6.32%), Tobacco (4.33%), Organic & inorganic chemicals (1.94%) and Tea (0.12%).
• Major commodities/commodity groups which have recorded negative growth during October 2020 vis-à-vis October 2019 are Petroleum products (-52.04%), Cashew (-21.57%), Gems & jewellery (-21.27%), Leather & leather products (-16.67%), Man-made yarn/fabs./made-ups etc. (-12.8%), Electronic goods (-9.36%), Coffee (-9.23%), Marine products (-8.09%), Plastic & Linoleum (-6.86%) and Engineering goods (-3.75%).
• Cumulative value of exports for the period April-October 2020-21 was USD 150.14 Billion (Rs.11,21,375.89 Crore) as against USD 185.40 Billion (Rs.13,00,244.23 Crore) during the period April-October 2019-20, registering a negative growth of (-) 19.02 per cent in Dollar terms (negative growth of (-)13.76 per cent in Rupee terms).
• Non-petroleum and Non-Gems and Jewellery exports in October 2020 were USD 20.31 Billion, as compared to USD 19.07 Billion in October 2019, registering a positive growth of 6.51 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-October 2020-21 were USD 124.82 Billion, as compared to USD 137.72 Billion for the corresponding period in 2019-20, which is a decrease of (-)9.37 per cent.

IMPORTS

• Imports in October 2020 were USD 33.61 Billion (Rs.2,46,856.53 Crore), which is a decline of(-) 11.53 per cent in Dollar terms and (-) 8.52 per cent in Rupee terms over imports of USD 37.99 Billion (Rs 2,69,852.86 Crore) in October 2019. Cumulative value of imports for the period April-October 2020-21 was USD 182.29 Billion (Rs.13,61,543.11 Crore), as against USD 286.07 Billion (Rs. 20,05,403.85 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 Rupee terms.
• Major commodity groups of import showing negative growth in October 2020 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

• Oil imports in October 2020 were USD 5.98 Billion (Rs. 43,935.17 Crore), which was 38.52 percent lower in Dollar terms (36.43 percent lower in Rupee terms), compared to USD 9.73 Billion (Rs. 69,111.05 Crore) in October 2019. Oil imports in April-October 2020-21 were USD 37.84 Billion (Rs. 2,82,930.87 Crore) which was 49.50 per cent lower in Dollar terms (46.13 percent lower in Rupee terms) compared to USD 74.92 Billion (Rs. 5,25,219.68 Crore), over the same period last year.
• In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 31.83% in October 2020 vis-à-vis October 2019 as per data available from World Bank.
• Non-oil imports in October 2020 were estimated at USD 27.62 Billion (Rs. 2,02,921.36 Crore) which was 2.24 percent lower in Dollar terms (1.09 percent higher in Rupee terms), compared to USD 28.26 Billion (Rs. 2,00,741.82 Crore) in October 2019. Non-oil imports in April-October 2020-21 were USD 144.45 Billion (Rs. 10,78,612.24 Crore) which was 31.58 per cent lower in Dollar terms (27.13 percent lower in Rupee terms), compared to USD 211.14 Billion (Rs. 14,80,184.16 Crore) in April-October 2019-20.
• Non-Oil and Non-Gold imports were USD 25.12 Billion in October 2020, recording a negative growth of (-)4.90per cent, as compared to Non-Oil and Non-Gold imports of USD 26.42 Billion in October 2019. Non-Oil and Non-Gold imports were USD 135.18 Billion in April-October 2020-21, recording a negative growth of (-) 30.14 per cent, as compared to Non-Oil and Non-Gold imports of USD 193.50 Billion in April-October 2019-20.

II. TRADE IN SERVICES

EXPORTS (Receipts)

• As per the latest press release by RBI dated 13^th November 2020, exports in September 2020 were USD 17.29 Billion (Rs.1,27,013.12 Crore) registering a negative growth of (-) 1.43 per cent in Dollar terms, vis-à-vis September 2019. The estimated value of services export for October 2020* is USD 17.39 Billion.

IMPORTS (Payments)

• As per the latest press release by RBI dated 13^th November 2020, imports in September 2020 were USD 10.14 Billion (Rs. 74,473.70 Crore) registering a negative growth of (-) 8.66 per cent in Dollar terms, vis-à-vis September 2019. The estimated value of services import for October 2020* is USD 10.20 Billion.

III.TRADE BALANCE

• MERCHANDISE: The trade deficit for October 2020 was estimated at USD 8.71 Billion as against the deficit of USD 11.75 Billion in October 2019, which is a decline of (-) 25.86 percent.
• SERVICES: As per RBI’s Press Release dated 13^th November 2020, the trade balance in Services (i.e. Net Services export) for September 2020 is USD 7.15 Billion. The estimated trade balance in October 2020* is USD 7.19 Billion.
• OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-October 2020-21* is estimated at USD 16.52 Billion as compared to the deficit of USD 54.83 Billion in April-October 2019-20.

*Note: The latest data for services sector released by RBI is for September 2020. The data for October 2020 is an estimation, which will be revised based on RBI’s subsequent release.  

MERCHANDISE TRADE

SERVICES TRADE