TMI BlogINDIA’S FOREIGN TRADE: MARCH 2021X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: MARCH 2021 - News and Press Release Dated:- 15-4-2021 - News - India s overall exports (Merchandise and Services combined) in April-March2020-21* are estimated to be USD 493.19Billion, exhibiting a negative growth of (-)6.66per cent over the same period last year. Overall imports in April-March 2020-21* are estimated to be USD 505.94Billion, exhibiting a negative growth of (-)16.53per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for February 2021. The data for March 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. I. MERCHAN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DISE TRADE EXPORTS (including re-exports) Exports inMarch2021 were USD34.45Billion, as compared to USD21.49Billion in March 2020, exhibiting a positive growth of 60.29per cent. In Rupee terms, exports were ₹ 2,50,756.40Crore in March2021, as compared to ₹ 1,59,784.62Crore in March2020, registering a positive growth of 56.93per cent. The commodities/commodity groups which have recorded positive growth during March 2021 vis- -vis March 2020 areOther cereals (326.44%), Oil meals (230.4%), Iron ore (194.89%), Jute mfg. including floor covering (105.26%), Electronic goods (91.98%), Carpet (89.84%), Gems jewellery (78.93%), Engineering goods (71.3%), Cereal preparations miscellaneous processed items (67.61%), Rice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (66.77%), Spices (60.42%), Cotton yarn/fabs./made-ups, handloom products etc. (55.67%), Ceramic products glassware (53.48%), Meat, dairy poultry products (52.79%), Drugs pharmaceuticals (48.49%), Organic inorganic chemicals (46.5%), Plastic Linoleum (46.39%), Handicrafts excl. handmade carpet (43.24%), Marine products (40.81%), Petroleum products (35.52%), Man-made yarn/fabs./made-ups etc. (31.37%), Mica, Coal other ores, minerals including processed minerals (31.28%), RMG of all textiles (27.51%), Fruits vegetables (23.96%), Coffee (23.27%), Leather leather products (21.86%), Tobacco (15.57%) and Tea (8%). The commodities/commodity groups which have recorded negative growth during March 2021 vis- -vis March 2020are Oil s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eeds (-6.45%) and Cashew (-1.99%). Cumulative value of exports for the period April-March 2020-21 was USD290.63Billion (₹ 21,50,325.03Crore) as against USD313.36Billion (₹ 22,19,854.18Crore) during the period April-March 2019-20, registering a negative growth of (-)7.26per cent in Dollar terms (negative growth of (-)3.13per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in March 2021 were USD27.42Billion, as compared to USD16.95Billion in March2020, registering a positive growth of 61.75per cent. Non-petroleum and Non-Gems and Jewellery exports in April-March 2020-21 were USD238.72Billion, as compared to USD236.17Billion for the corresponding period in 2019-20, which is anincreaseof 1.08 per cent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IMPORTS Imports in March2021 were USD48.38Billion (₹ 3,52,191.21Crore), which is an increase of53.74per cent in Dollar terms and 50.52per cent in Rupee terms over imports of USD31.47Billion (₹ 2,33,988.47Crore) in March2020. Cumulative value of imports for the period April-March 2020-21 was USD389.18Billion (₹ 28,76,918.30Crore), as against USD474.71Billion (₹ 33,60,954.46Crore) during the period April-March 2019-20, registering a negative growth of (-)18.02per cent in Dollar terms and a negative growth of (-)14.40per cent in Rupee terms. Major commodity groups of import showing negative growth in March2021 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Oil imports inMarch2021 were USD10.27Billion (₹ 74,768.22Crore), which was 2.23percenthigher in Dollar terms (0.08percent higher in Rupee terms), compared to USD10.05Billion (₹ 74,704.86Crore) in March2020. Oil imports inApril-March 2020-21 were USD82.35Billion (₹ 6,08,881.25Crore) which was 36.92per cent lower in Dollar terms (34.19percent lower in Rupee terms) compared to USD130.55Billion (₹ 9,25,167.52Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has increased by 97.67% in March2021 vis- -vis March2020 as per data available from World Bank. Non-oil imports inMarch2021 were estimated at USD38.11Billion (₹ 2,77,422.99Crore) which was 77.90p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ercent higher in Dollar terms (74.17percent higher in Rupee terms), compared to USD21.42Billion (₹ 1,59,283.61Crore) in March2020. Non-oil imports inApril-March 2020-21 were USD306.83Billion (₹ 22,68,037.05Crore) which was 10.85per cent lower in Dollar terms (6.89percent lower in Rupee terms), compared to USD344.16Billion (₹ 24,35,786.93Crore) in April-March2019-20. Non-Oil and Non-Gold imports wereUSD29.62Billion in March2021, recording a positive growth of 46.66per cent, as compared to Non-Oil and Non-Gold importsof USD 20.20Billion in March2020. Non-Oil and Non-Gold imports wereUSD272.23Billion in April-March 2020-21, recording a negative growth of (-)13.83per cent, as compared to Non-Oil and Non-Gold imports ofUSD 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15.93Billion in April-March 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 15 th April 2021, exports in February 2021 were USD 17.55Billion (₹ 1,27,651.28Crore) registering a negative growth of (-)1.02per cent in Dollar terms, vis- -vis February2020. The estimated value of services export for March2021* is USD 17.75Billion. IMPORTS (Payments) As per the latest press release by RBI dated 15 th April 2021, imports in February 2021were USD 10.61Billion (₹ 77,216.47Crore) registering a negative growth of (-)4.10per cent in Dollar terms, vis- -vis February 2020. The estimated value of services import for March2021* is USD 10.84Billion. III.TRADE BALA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NCE MERCHANDISE : The trade deficit for March2021 was estimated at USD13.93Billion as against the deficit of USD9.98Billion inMarch2020, which is an increase of 39.62 percent. SERVICES : As per RBI s Press Release dated 15 th April 2021, the trade balance in Services (i.e. Net Services export) for February 2021is USD6.93Billion. The estimated trade balance in March 2021* is USD 6.91Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2020-21* is estimated at USD12.74Billion as compared to the deficit of USD77.76Billion in April-March 2019-20. *Note: The latest data for services sector released by RBI is for February 2021. The data for March2021 is an estimatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS(including re-exports) 2019-20 21.49 313.36 2020-21 34.45 290.63 %Growth 2020-21/ 2019-20 60.29 -7.26 IMPORTS 2019-20 31.47 474.71 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020-21 48.38 389.18 %Growth 2020-21/ 2019-20 53.74 -18.02 TRADE BALANCE 2019-20 -9.98 -161.35 2020-21 -13.93 -98.56 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS(including re-exports) 2019-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 1,59,784.62 22,19,854.18 2020-21 2,50,756.40 21,50,325.03 %Growth 2020-21/ 2019-20 56.93 -3.13 IMPORTS 2019-20 2,33,988.47 33,60,954.46 2020-21 3,52,191.21 28,76,918.30 %Growth 2020-21/ 2019-20 50.52 -14.40 TRADE BALANCE 2019-20 -74,203.85 -11,41,100.28 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020-21 -1,01,434.81 -7,26,593.27 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) February 2021 April-February2020-21 EXPORTS (Receipts) 17.55 184.81 IMPORTS (Payments) 10.61 105.91 TRADE BALANCE 6.93 78.91 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) February 2021 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April-February 2020-21 EXPORTS (Receipts) 1,27,651.28 13,73,288.41 IMPORTS (Payments) 77,216.47 7,86,800.79 TRADE BALANCE 50,434.81 5,86,487.62 Source: RBI Press Release dated 15 th April 2021 Click here to see Quick Estimates - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.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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