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Merchandise Exports scale a new high in April; cross USD 40 billion, registering 30% growth over April, 2021

May 13, 2022
  • Contents

Merchandise Exports scale a new high in April; cross USD 40 billion, registering 30% growth over April, 2021

Petroleum products, Electronic goods, processed food, coffee, leather product lead the way with significant increase in exports
Service exports up by 53%; Overall exports jump by 39%

INDIA’S FOREIGN TRADE: April 2022

  • After a record performance in the last financial year, the exports continued robust growth in April, 2022 with merchandise exports scaling a new high by crossing USD 40 bn. This is an increase by over 30% vis-à-vis April 2021. Petroleum products (127.69%), Electronic goods (71.69%), cereals (60.83%), coffee (59.38%), processed food (38.82%) and leather product (36.68%) exports led the way in achieving the record performance. Services performed extremely well to reach USD 27.60 bn, which is an increase of 53% over April 2021.
  • India’s overall exports (Merchandise and Services combined) in April 2022* are estimated to be USD 67.79 Billion, exhibiting a positive growth of 38.90 per cent over the same period last year. Overall imports in April 2022* are estimated to be USD 75.87 Billion, exhibiting a positive growth of 36.31 per cent over the same period last year 

Table 1: Trade during April 2022* 

 

 

April 2022

(USD Billion)

April 2021

(USD Billion)

Growth vis-à-vis April 2021 (%)

Merchandise

Exports

40.19

30.75

30.70

Imports

60.30

46.04

30.97

Trade Balance

-20.11

-15.29

-31.50

Services*

Exports

27.60

18.06

52.87

Imports

15.57

9.62

61.87

Net of Services

12.03

8.44

42.61

Overall Trade (Merchandise+

Services)*

Exports

67.79

48.80

38.90

Imports

75.87

55.66

36.31

Trade Balance

-8.08

-6.86

-17.83

* Note: The latest data for services sector released by RBI is for March 2022. The data for April 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during April 2022*

MERCHANDISE TRADE

  • Merchandise exports in April 2022 were USD 40.19 Billion, as compared to USD 30.75 Billion in April 2021, exhibiting a positive growth of 30.70 per cent.
  • Merchandise imports in April 2022 were USD 60.30 Billion, which is an increase of 30.97 per cent over imports of USD 46.04 Billion in April 2021.
  • The merchandise trade deficit in April 2022 was estimated at USD 20.11 Billion as against USD 15.29 Billion in April 2021, which is an increase of 31.50 per cent.

Fig 2: Merchandise Trade during April 2022

  • Non-petroleum and non-gems & jewellery exports in April 2022 were USD 28.46 Billion, registering a positive growth of 19.89 per cent over non-petroleum and non-gems & jewellery exports of USD 23.74 Billion in April 2021.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 35.68 Billion in April 2022 with a positive growth of 34.37 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.55 Billion in April 2021.

Table 2: Trade excluding Petroleum and Gems & Jewellery during April 2022 

 

April 2022

(USD Billion)

April 2021

(USD Billion)

Growth vis-à-vis April 2021 (%)

Non- petroleum exports

31.93

27.12

17.74

Non- petroleum imports

40.11

35.27

13.70

Non-petroleum & Non Gems & Jewellery exports

28.46

23.74

19.89

Non-petroleum & Non Gems & Jewellery imports*

35.68

26.55

34.37

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

 

Fig 3: Trade excluding Petroleum and Gems & Jewellery during April 2022

 

SERVICES TRADE

  • The estimated value of services export for April 2022* is USD 27.60 Billion, exhibiting a positive growth of 52.87 per cent vis-a-vis April 2021 (USD 18.06 Billion).
  • The estimated value of services import for April 2022* is USD 15.57 Billion exhibiting a positive growth of 61.87 per cent vis-à-vis April 2021 (USD 9.62 Billion)
  • The services trade balance in April 2022* is estimated at USD 12.03 Billion, which is an increase of 42.61 per cent over April 2021 (USD 8.44 Billion).

Fig 4: Services Trade during April 2022*

 

Table 3: Export Growth in Commodity Groups in April 2022

Sl. No.

Commodities

(Values in Million USD)

% Change

APR'21

APR'22

APR'22

 

Commodity groups exhibiting positive growth

1

Petroleum Products

3625.66

8255.39

127.69

2

Electronic Goods

978.43

1679.82

71.69

3

Other cereals

55.96

90.00

60.83

4

Coffee

71.46

113.90

59.38

5

Cereal preparations & miscellaneous processed items

165.38

229.58

38.82

6

Leather & leather products

289.65

395.90

36.68

7

Tobacco

73.01

98.63

35.10

8

Organic & Inorganic Chemicals

2025.59

2679.92

32.30

9

Mica, Coal & Other Ores, Minerals including processed minerals

392.53

489.90

24.81

10

Jute Mfg. including Floor Covering

37.12

45.56

22.73

11

Engineering Goods

7974.06

9725.92

21.97

12

RMG of all Textiles

1297.68

1575.86

21.44

13

Oil seeds

96.47

115.52

19.74

14

Marine Products

550.05

634.28

15.31

15

Meat, dairy & poultry products

345.31

383.96

11.19

16

Fruits & Vegetables

257.75

285.03

10.58

17

Drugs & Pharmaceuticals

1892.58

2072.26

9.49

18

Plastic & Linoleum

727.90

797.00

9.49

19

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

1065.20

1158.08

8.72

20

Ceramic products & glassware

286.31

310.46

8.43

21

Man-made Yarn/Fabs./made-ups etc.

424.52

458.59

8.02

22

Gems & Jewellery

3379.14

3467.71

2.62

Sl. No.

Commodities

(Values in Million USD)

% Change

APR'21

APR'22

APR'22

 

Commodity Groups exhibiting negative growth

23

Iron Ore

635.55

418.48

-34.16

24

Cashew

49.71

32.76

-34.10

25

Handicrafts excl. handmade carpet

158.42

118.85

-24.98

26

Spices

401.09

319.32

-20.39

27

Oil Meals

120.52

101.64

-15.66

28

Rice

895.60

810.66

-9.48

29

Carpet

129.92

125.02

-3.77

30

Tea

49.73

49.22

-1.03

 

Table 4: Import Growth in Commodity Groups in April 2022

Sl. No.

Commodities

(Values in Million USD)

% Change

APR'21

APR'22

APR'22

 

Commodity Groups exhibiting positive growth

1

Silver

11.90

109.50

820.04

2

Fertilisers, Crude & manufactured

376.84

1202.98

219.23

3

Sulphur & Unroasted Iron Pyrites

18.58

58.73

216.08

4

Coal, Coke & Briquettes, etc.

2004.56

4937.85

146.33

5

Petroleum, Crude & products

10764.84

20188.06

87.54

6

Pulses

55.07

99.14

80.01

7

Cotton Raw & Waste

33.36

52.59

57.64

8

Leather & leather products

53.59

83.64

56.08

9

Organic & Inorganic Chemicals

2244.19

3420.90

52.43

10

Non-ferrous metals

1316.79

1870.90

42.08

11

 Vegetable Oil

1289.13

1746.27

35.46

12

Textile yarn Fabric, made-up articles

145.87

197.35

35.29

13

Pulp and Waste paper

93.54

126.05

34.75

14

Electronic goods

5058.85

6722.37

32.88

15

Iron & Steel

1181.08

1492.36

26.36

16

Dyeing/tanning/colouring materials

293.09

367.23

25.30

17

Metaliferrous ores & other minerals

631.59

768.06

21.61

18

Professional instrument, Optical goods, etc.

461.77

543.98

17.80

19

Chemical material & products

891.54

1037.06

16.32

20

Project goods

103.40

119.46

15.54

21

Artificial resins, plastic materials, etc.

1779.47

2019.61

13.50

22

Wood &  Wood products

505.20

572.84

13.39

23

Machinery, electrical & non-electrical

3054.64

3416.39

11.84

24

Fruits & vegetables

216.36

240.15

11.00

25

Newsprint

23.17

24.85

7.26

26

Pearls, precious & Semi-precious stones

2470.74

2594.34

5.00

27

Medicinal & Pharmaceutical products

681.31

710.98

4.35

28

Machine tools

315.51

328.95

4.26

Sl. No.

Commodities

(Values in Million USD)

% Change

APR'21

APR'22

APR'22

 

Commodity Groups exhibiting negative growth

29

Gold

6238.36

1724.86

-72.35

30

Transport equipment

1861.98

1467.09

-21.21

Table 5: MERCHANDISE TRADE 

EXPORTS & IMPORTS: (Rs. Crore)

(PROVISIONAL)

 

APRIL

EXPORTS(including re-exports)

 

2021-22

2,28,980.61

2022-23

3,06,094.76

%Growth 2022-23/2021-22

33.68

IMPORTS

 

2021-22

3,42,864.34

2022-23

4,59,260.03

%Growth 2022-23/2021-22

33.95

TRADE BALANCE

 

2021-22

-1,13,883.73

2022-23

-1,53,165.27

 Table 6: SERVICES TRADE 

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

 

(PROVISIONAL)

March  2022

April- March 2021-22

EXPORTS (Receipts)

26.88

254.36

IMPORTS (Payments)

15.33

146.95

TRADE BALANCE

11.55

107.40

 

 

 

EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

 

(PROVISIONAL)

March  2022

April-March 2021-22

EXPORTS (Receipts)

2,04,960.46

18,96,918.81

IMPORTS (Payments)

1,16,867.57

10,96,031.56

TRADE BALANCE

88,092.90

8,00,887.25

Source: RBI Press Release dated 2nd May 2022

 

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