TMI BlogINDIA’S FOREIGN TRADE: February 2021X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: February 2021 - News and Press Release Dated:- 15-3-2021 - News - India s overall exports (Merchandise and Services combined) in April-February2020-21* are estimated to be USD 439.64Billion, exhibiting a negative growth of (-) 10.14per cent over the same period last year. Overall imports in April-February 2020-21* are estimated to be USD 447.44Billion, exhibiting a negative growth of (-) 20.83per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for January 2021. The data for February 2021 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 inFebruary2021 were USD27.93Billion, as compared to USD27.74Billion in February 2020, exhibiting a positive growth of 0.67per cent. In Rupee terms, exports were ₹ 2,03,201.56Crore in February2021, as compared to ₹ 1,98,328.86Crore in February2020, registering a positive growth of 2.46per cent. The commodities/commodity groups which have recorded positive growth during February 2021 vis- -vis February 2020 areOther cereals (546.5%), Oil meals (245.45%), Iron ore (167.79%), Jute mfg. including floor covering (45.53%), Rice (30.78%), Meat, dairy poultry products (26.43%), Cereal preparations miscellaneous processed items (25.3%), Carpet (19.46%), Spice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (18.61%), Drugs pharmaceuticals (14.74%), Handicrafts excl. handmade carpet (13.23%), Ceramic products glassware (11.04%), Cotton yarn/fabs./made-ups, handloom products etc. (9.41%), Tobacco (7.71%), Mica, Coal other ores, minerals including processed minerals (4.38%), Plastic Linoleum (3.16%) and Organic inorganic Chemicals (1.2%). The commodities/commodity groups which have recorded negative growth during February 2021 vis- -vis February 2020are Oil seeds (-25.19%), Leather leather products (-21.62%), Petroleum products (-20.87%), Cashew (-18.62%), Gems jewellery (-11.19%), RMG of all textiles (-8.5%), Electronic goods (-5.77%), Man-made yarn/fabs./made-ups etc. (-4.02%), Fruits vegetables (-3.33%), Tea (-2.5%), Engin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eering goods (-2.36%), Coffee (-0.73%) and Marine products (-0.21%). Cumulative value of exports for the period April-February 2020-21 was USD256.18Billion (₹ 18,99,568.63Crore) as against USD291.87Billion (₹ 20,60,069.56Crore) during the period April-February 2019-20, registering a negative growth of (-) 12.23per cent in Dollar terms (negative growth of (-) 7.79per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in February 2021 were USD22.52Billion, as compared to USD21.28Billion in February2020, registering a positive growth of 5.84per cent. Non-petroleum and Non-Gems and Jewellery exports in April-February 2020-21 were USD211.30Billion, as compared to USD219.22Billion for the corresponding period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in 2019-20, which is a decrease of (-) 3.61 per cent. IMPORTS Imports in February2021 were USD40.54Billion (₹ 2,94,985.04Crore), which is an increase of6.96per cent in Dollar terms and 8.86per cent in Rupee terms over imports of USD37.90Billion (₹ 2,70,973.39Crore) in February2020. Cumulative value of imports for the period April-February 2020-21 was USD340.80Billion (₹ 25,24,727.09Crore), as against USD443.24Billion (₹ 31,26,965.99Crore) during the period April-February 2019-20, registering a negative growth of (-) 23.11per cent in Dollar terms and a negative growth of (-) 19.26per cent in Rupee terms. Major commodity groups of import showing negative growth in February2021 over the corresponding month o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inFebruary2021 were USD8.99Billion (₹ 65,392.23Crore), which was 16.63percentlower in Dollar terms (15.15percent lower in Rupee terms), compared to USD10.78Billion (₹ 77,068.38Crore) in February2020. Oil imports in April-February 2020-21 were USD72.08Billion (₹ 5,34,113.03Crore) which was 40.18per cent lower in Dollar terms (37.20percent lower in Rupee terms) compared to USD120.50Billion (₹ 8,50,462.66Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has increased by 12.65 % in February2021 vis- -vis February2020 as per data available from World Bank. Non-oil imports inFebruary20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21 were estimated at USD31.56Billion (₹ 2,29,592.81Crore) which was 16.34percent higher in Dollar terms (18.40percent higher in Rupee terms), compared to USD27.12Billion (₹ 1,93,905.01Crore) in February2020. Non-oil imports inApril-February 2020-21 were USD268.72Billion (₹ 19,90,614.06Crore) which was 16.74per cent lower in Dollar terms (12.56percent lower in Rupee terms), compared to USD322.74Billion (₹ 22,76,503.32Crore) in April-February2019-20. Non-Oil and Non-Gold imports wereUSD26.27Billion in February2021, recording a positive growth of 6.07per cent, as compared to Non-Oil and Non-Gold importsof USD 24.76Billion in February2020. Non-Oil and Non-Gold imports wereUSD242.61Billion in April-February 2020-21, re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cording a negative growth of (-) 17.96per cent, as compared to Non-Oil and Non-Gold imports ofUSD 295.73Billion in April-February 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 15 th March 2021, exports in January 2021 were USD 17.08Billion (₹ 1,24,841.61Crore) registering a negative growth of (-) 10.06per cent in Dollar terms, vis- -vis January2020. The estimated value of services export for February2021* is USD 17.29Billion. IMPORTS (Payments) As per the latest press release by RBI dated 15 th March 2021, imports in January 2021were USD 10.10Billion (₹ 73,825.87Crore) registering a negative growth of (-) 15.86 per cent in Dollar terms, vis- -vis January 2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The estimated value of services import for February2021* is USD 10.36 Billion. III.TRADE BALANCE MERCHANDISE : The trade deficit for February2021 was estimated at USD12.62Billion as against the deficit of USD10.16Billion inFebruary2020, which is an increase of 24.14 percent. SERVICES : As per RBI s Press Release dated 15 th March 2021, the trade balance in Services (i.e. Net Services export) for January 2021is USD6.98Billion. The estimated trade balance in February 2021* is USD 6.94Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-February 2020-21* is estimated at USD7.80Billion as compared to the deficit of USD75.90Billion in April-February 2019-20. *Note: The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... latest data for services sector released by RBI is for January 2021. The data for February2021 is an estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) FEBRUARY APRIL-FEBRUARY EXPORTS (including re-exports) 2019-20 27.74 291.87 2020-21 27.93 256.18 % Growth 2020-21/ 2019-20 0.67 -12.23 IMPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019-20 37.90 443.24 2020-21 40.54 340.80 % Growth 2020-21/ 2019-20 6.96 -23.11 TRADE BALANCE 2019-20 -10.16 -151.37 2020-21 -12.62 -84.62 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) FEBRUARY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... APRIL-FEBRUARY EXPORTS (including re-exports) 2019-20 1,98,328.86 20,60,069.56 2020-21 2,03,201.56 18,99,568.63 % Growth 2020-21/ 2019-20 2.46 -7.79 IMPORTS 2019-20 2,70,973.39 31,26,965.99 2020-21 2,94,985.04 25,24,727.09 %Growth 2020-21/ 2019-20 8.86 -19.26 TRAD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... E BALANCE 2019-20 -72,644.53 -10,66,896.42 2020-21 -91,783.48 -6,25,158.46 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) January 2021 April-January 2020-21 EXPORTS (Receipts) 17.08 166.17 IMPORTS (Payments) 10.10 96.28 TRADE BALANCE 6.98 69.89 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) January 2021 April-January 2020-21 EXPORTS (Receipts) 1,24,841.61 12,37,541.83 IMPORTS (Payments) 73,825.87 7,16,842.28 TRADE BALANCE 51,015.74 5,20,699.56 Source: RBI Press Release dated 15 th March 2021 Quick Estimates February 2021 ***** YB/SS - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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