TMI BlogINDIA’S FOREIGN TRADE: November 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: November 2020 - News and Press Release Dated:- 15-12-2020 - News - India s overall exports (Merchandise and Services combined) in April-November2020-21* are estimated to be USD 304.25 Billion, exhibiting a negative growth of (-) 14.03per cent over the same period last year. Overall imports in April-November 2020-21* are estimated to be USD 290.66Billion, exhibiting a negative growth of (-) 29.96per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for October 2020. The data for November 2020 is an estimation, which will be revised based on RBI s subsequent release ii) the figures in bracket are growth rates vis- -vis corresponding period of last year. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inNovember2020 were USD23.52Billion, as compared to USD25.77Billion in November 2019, exhibiting a negative growth of (-) 8.74per cent. In Rupee terms, exports were ₹ 1,74,559.49Crore in November2020, as compared to ₹ 1,84,142.27Crore in November2019, registering a negative growth of (-) 5.20per cent. The commodities/commodity groups which have recorded positive growth during November 2020 vis- -vis November 2019 are Other cereals (171.63%), Oil meals (72.09%), Iron ore (68.15%), Rice (25.88%), Ceramic products glassware (21.38%), Handicrafts excl. handmade carpet (17.99%), Cereal preparations miscellaneous processed items (17.04%), Carpet (15.59% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), Jute mfg. including floor covering (14.3%), Spices (12.37%), Drugs pharmaceuticals (11.15%), Tobacco (8.64%), Cotton yarn/fabs./made-ups, handloom products etc. (8.54%), Fruits vegetables (6.08%), Tea (5.02%), Gems jewellery (4.1%), Mica, Coal other ores, minerals including processed minerals (3.69%), Meat, dairy poultry products (1.35%) and Electronic Goods (0.97%). The commodities/commodity groups which have recorded negative growth during November 2020 vis- -vis November 2019 are Petroleum products (-59.73%), Leather leather products (-29.8%), Cashew (-24.53%), Plastic Linoleum (-23.26%), Marine products (-16.1%), Oil seeds (-15.2%), Man-made yarn/fabs./made-ups etc. (-11.06%), Engineering goods (-8.12%), Organic in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... organic chemicals (-8.06%), Coffee (-1.27%) and RMG of all textiles (-1.19%). Cumulative value of exports for the period April-November 2020-21 was USD173.66Billion (₹ 12,95,935.38Crore) as against USD211.17Billion (₹ 14,84,386.50Crore) during the period April-November 2019-20, registering a negative growth of (-) 17.76per cent in Dollar terms (negative growth of (-) 12.70per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in November 2020 were USD19.29Billion, as compared to USD19.37Billion in November2019, registering a negative growth of (-) 0.40per cent. Non-petroleum and Non-Gems and Jewellery exports in April-November 2020-21 were USD144.11Billion, as compared to USD157.09Billion for the corres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ponding period in 2019-20, which is a decrease of (-) 8.26 per cent. IMPORTS Imports in November2020 were USD33.39Billion (₹ 2,47,839.85Crore), which is a decline of(-) 13.32per cent in Dollar terms and (-) 9.96per cent in Rupee terms over imports of USD38.52Billion (₹ 2,75,255.20Crore) in November2019. Cumulative value of imports for the period April-November 2020-21 was USD215.69Billion (₹ 16,09,382.96Crore), as against USD324.59Billion (₹ 22,80,659.04Crore) during the period April-November 2019-20, registering a negative growth of (-) 33.55per cent in Dollar terms and a negative growth of (-) 29.43per cent in Rupee terms. Major commodity groups of import showing negative growth in November2020 over ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inNovember2020 were USD6.27Billion (₹ 46,529.71Crore), which was 43.36per centlower in Dollar terms (41.17per centlower in Rupee terms), compared to USD11.07Billion (₹ 79,090.66Crore) in November2019. Oil imports inApril-November 2020-21 were USD44.11Billion (₹ 3,29,460.58Crore) which was 48.71per cent lower in Dollar terms (45.48per cent lower in Rupee terms) compared to USD85.99Billion (₹ 6,04,310.34Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 31.10% in November2020 vis- -vis November2019 as per data available from World Bank. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Non-oil imports inNovember2020 were estimated at USD27.12Billion (₹ 2,01,310.14Crore) which was 1.20per cent lower in Dollar terms (2.62 per centhigher in Rupee terms), compared to USD27.45Billion (₹ 1,96,164.54Crore) in November2019. Non-oil imports inApril-November 2020-21 were USD171.58Billion (₹ 12,79,922.38Crore) which was 28.09per cent lower in Dollar terms (23.65per cent lower in Rupee terms), compared to USD238.60Billion (₹ 16,76,348.70Crore) in April-November2019-20. Non-Oil and Non-Gold imports wereUSD24.10Billion in November2020, recording a negative growth of (-) 1.67per cent, as compared to Non-Oil and Non-Gold importsof USD 24.51Billion in November2019. Non-Oil and Non-Gold imports wereUSD159.28Bil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lion in April-November 2020-21, recording a negative growth of (-) 26.94per cent, as compared to Non-Oil and Non-Gold imports ofUSD 218.01Billion in April-November 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 15 th December 2020, exports in October2020 were USD 16.58Billion (₹ 1,21,815.57Crore) registering a negative growth of (-) 6.30per cent in Dollar terms, vis- -vis October2019. The estimated value of services export for November2020* is USD 16.45Billion. IMPORTS (Payments) As per the latest press release by RBI dated 15 th December 2020, imports in October 2020 were USD 9.53Billion (₹ 69,968.84Crore) registering a negative growth of (-) 12.33p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er cent in Dollar terms, vis- -vis October2019. The estimated value of services import for November2020* is USD 9.37Billion. III.TRADE BALANCE MERCHANDISE : The trade deficit for November2020 was estimated at USD9.87Billion as against the deficit of USD12.75Billion inNovember2019, which is a decline of (-) 22.57per cent. SERVICES : As per RBI s Press Release dated 15 th December 2020, the trade balance in Services (i.e. Net Services export) for October 2020 is USD7.06Billion. The estimated trade balance in November 2020* is USD 7.08Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-November 2020-21* is estimated at USD13.59Billion as compared to the deficit of US ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D61.06Billion in April-November 2019-20. *Note: The latest data for services sector released by RBI is for October2020. The data for November2020 is an estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) NOVEMBER APRIL-NOVEMBER EXPORTS(including re-exports) 2019-20 25.77 211.17 2020-21 23.52 173.66 %Growth 2020-21/ 2019-20 -8.74 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -17.76 IMPORTS 2019-20 38.52 324.59 2020-21 33.39 215.69 %Growth 2020-21/ 2019-20 -13.32 -33.55 TRADE BALANCE 2019-20 -12.75 -113.42 2020-21 -9.87 -42.03 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NOVEMBER APRIL-NOVEMBER EXPORTS(including re-exports) 2019-20 1,84,142.27 14,84,386.50 2020-21 1,74,559.49 12,95,935.38 %Growth 2020-21/ 2019-20 -5.20 -12.70 IMPORTS 2019-20 2,75,255.20 22,80,659.04 2020-21 2,47,839.85 16,09,382.96 %Growth 2020-21/ 2019-20 -9.96 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 29.43 TRADE BALANCE 2019-20 -91,112.93 -7,96,272.55 2020-21 -73,280.36 -3,13,447.58 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) October 2020 April-October 2020-21 EXPORTS (Receipts) 16.58 114.15 IMPORTS (Payments) 9.53 65.61 TRADE BALANCE 7.06 48.54 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) October 2020 April-October 2020-21 EXPORTS (Receipts) 1,21,815.57 8,54,462.08 IMPORTS (Payments) 69,968.84 4,91,029.52 TRADE BALANCE 51,846.73 3,63,432.56 Source: RBI Press Release dated 15 th December 2020 Quick Estimates November 2020 click here - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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