TMI BlogINDIA’S FOREIGN TRADE FOR JANUARY 2021X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE FOR JANUARY 2021 - News and Press Release Dated:- 15-2-2021 - News - India s overall exports (Merchandise and Services combined) in April-January2020-21* are estimated to be USD 396.60Billion, exhibiting a negative growth of (-) 10.63per cent over the same period last year. Overall imports in April-January 2020-21* are estimated to be USD 398.47Billion, exhibiting a negative growth of (-) 22.80per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for December 2020. The data for January 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . MERCHANDISE TRADE EXPORTS (including re-exports) Exports inJanuary2021 were USD27.45Billion, as compared to USD25.85Billion in January 2020, exhibiting a positive growth of 6.16per cent. In Rupee terms, exports were ₹ 2,00,661.11Crore in January2021, as compared to ₹ 1,84,369.73Crore in January2020, registering a positive growth of 8.84per cent. The commodities/commodity groups which have recorded positive growth during January 2021 vis- -vis January 2020 areOther cereals (343.57%), Oil meals (257.50%), Iron Ore (108.84%), Cereal preparations miscellaneous processed items (44.88%), Jute mfg. including floor covering (27.68%), Rice (26.33%), Tobacco (26.16%), Fruits vegetables (24.34%), Carpet (23.69%), Handi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crafts excl. handmade carpet (21.09%), Spices (20.36%), Ceramic products glassware (19.03%), Engineering goods (18.81%), Drugs pharmaceuticals (16.42%), Electronic goods (16%), Tea (13.34%), Mica, Coal other ores, minerals including processed minerals (11.89%), Cashew (11.82%), Plastic Linoleum (10.40%), Cotton yarn/fabs./made-ups, handloom products etc. (7.08%), Coffee (4.85%), and Organic Inorganic chemicals (2.55%). The commodities/commodity groups which have recorded negative growth during January 2021 vis- -vis January 2020are Petroleum products (-32.06%), Leather leather products (-18.6%), RMG of all Textiles (-10.73%), Man-made yarn/fabs./made-ups etc. (-9.62%), Meat, dairy poultry products (-8.03%), Oil seeds (-6.4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9%), Marine products (-1.72%) and Gems jewellery (-1.26%). Cumulative value of exports for the period April-January 2020-21 was USD228.25Billion (₹ 16,96,367.07Crore) as against USD264.13Billion (₹ 18,61,740.70Crore) during the period April-January 2019-20, registering a negative growth of (-) 13.58per cent in Dollar terms (negative growth of (-) 8.88per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in January 2021 were USD22.44Billion, as compared to USD19.79Billion in January2020, registering a positive growth of 13.40per cent. Non-petroleum and Non-Gems and Jewellery exports in April-January 2020-21 were USD188.77Billion, as compared to USD197.94Billion for the corresponding period in 2019-20, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which is a decrease of (-) 4.63 per cent. IMPORTS Imports in January2021 were USD41.99Billion (₹ 3,06,951.56Crore), which is an increase of2.03per cent in Dollar terms and 4.60per cent in Rupee terms over imports of USD41.15Billion (₹ 2,93,452.69Crore) in January2020. Cumulative value of imports for the period April-January 2020-21 was USD300.26Billion (₹ 22,29,742.05Crore), as against USD405.33Billion (₹ 28,55,992.59Crore) during the period April-January 2019-20, registering a negative growth of (-) 25.92per cent in Dollar terms and a negative growth of (-)21.93per cent in Rupee terms. Major commodity groups of import showing negative growth in January2021 over the corresponding month of last year a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inJanuary2021 were USD9.40Billion (₹ 68,743.95Crore), which was 27.72percentlower in Dollar terms (25.90percent lower in Rupee terms), compared to USD13.01Billion (₹ 92,773.42Crore) in January2020. Oil imports inApril-January 2020-21 were USD63.09Billion (₹ 4,68,720.80Crore) which was 42.50per cent lower in Dollar terms (39.39percent lower in Rupee terms) compared to USD109.72Billion (₹ 7,73,394.28Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 14.23% in January2021 vis- -vis January2020 as per data available from World Bank. Non-oil imports inJanuary2021 were estimate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d at USD32.58Billion (₹ 2,38,207.61Crore) which was 15.79percent higher in Dollar terms (18.70percent higher in Rupee terms), compared to USD28.14Billion (₹ 2,00,679.27Crore) in January2020. Non-oil imports inApril-January 2020-21 were USD237.16Billion (₹ 17,61,021.25Crore) which was 19.77per cent lower in Dollar terms (15.44percent lower in Rupee terms), compared to USD295.61Billion (₹ 20,82,598.31Crore) in April-January2019-20. Non-Oil and Non-Gold imports wereUSD28.55Billion in January2021, recording a positive growth of 7.50per cent, as compared to Non-Oil and Non-Gold importsof USD 26.56Billion in January2020. Non-Oil and Non-Gold imports wereUSD216.34Billion in April-January 2020-21, recording a negative gro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wth of (-) 20.16per cent, as compared to Non-Oil and Non-Gold imports ofUSD 270.97Billion in April-January 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 15 th February 2021, exports in December2020 were USD 18.72Billion (₹ 1,37,774.58Crore) registering a negative growth of (-) 6.41per cent in Dollar terms, vis- -vis December2019. The estimated value of services export for January2021* is USD 19.25Billion. IMPORTS (Payments) As per the latest press release by RBI dated 15 th February 2021, imports in December 2020 were USD 11.50Billion (₹ 84,632.64Crore) registering a negative growth of (-) 8.40per cent in Dollar terms, vis- -vis December2019. The es ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... timated value of servicesimport for January2021* is USD 12.03Billion. III.TRADE BALANCE MERCHANDISE : The trade deficit for January2021 was estimated at USD14.54Billion as against the deficit of USD15.30Billion inJanuary2020, which is decrease of (-) 4.95 percent. SERVICES : As per RBI s Press Release dated 15 th February 2021, the trade balance in Services (i.e. Net Services export) for December 2020 is USD7.22Billion. The estimated trade balance in January 2021* is USD 7.22Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-January 2020-21* is estimated at USD1.87Billion as compared to the deficit of USD72.40Billion in April-January 2019-20. *Note: The lat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est data for services sector released by RBI is for December2020. The data for January2021 is an estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) JANUARY APRIL-JANUARY EXPORTS(including re-exports) 2019-20 25.85 264.13 2020-21 27.45 228.25 %Growth 2020-21/ 2019-20 6.16 -13.58 IMPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019-20 41.15 405.33 2020-21 41.99 300.26 %Growth 2020-21/ 2019-20 2.03 -25.92 TRADE BALANCE 2019-20 -15.30 -141.21 2020-21 -14.54 -72.01 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) JANUARY APRIL-JANUARY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS(including re-exports) 2019-20 1,84,369.73 18,61,740.70 2020-21 2,00,661.11 16,96,367.07 %Growth 2020-21/ 2019-20 8.84 -8.88 IMPORTS 2019-20 2,93,452.69 28,55,992.59 2020-21 3,06,951.56 22,29,742.05 %Growth 2020-21/ 2019-20 4.60 -21.93 TRADE BALANCE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019-20 -1,09,082.96 -9,94,251.89 2020-21 -1,06,290.45 -5,33,374.98 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) December 2020 April-December 2020-21 EXPORTS (Receipts) 18.72 149.09 IMPORTS (Payments) 11.50 86.18 TRADE BALANCE 7.22 62.91 EXPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) December 2020 April-December 2020-21 EXPORTS (Receipts) 1,37,774.58 11,12,700.22 IMPORTS (Payments) 84,632.64 6,43,016.41 TRADE BALANCE 53,141.94 4,69,683.82 Source: RBI Press Release dated 15 th February 2021 Quick Estimates January 2021 Click here - 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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