TMI BlogOverall (merchandise and services) exports in April-August 2022 jump by 19.7 percent as compared to the same period last yearX X X X Extracts X X X X X X X X Extracts X X X X ..... Overall (merchandise and services) exports in April-August 2022 jump by 19.7 percent as compared to the same period last year - News and Press Release Dated:- 14-9-2022 - News - Overall (merchandise and services) exports in April-August 2022 jump by 19.7 percent as compared to the same period last year Non-petroleum and non-gems jewellery export rises 8.5 percent to USD 135.6 billion in April-August 2022 as compared to same period last year Merchandise export grow by 1.6 percent at USD 33.9 billion in August 2022 as compared to the same period last year Tobacco (76.4%), Oil Meals (73.7%), Electronic Goods (50.8%) and Rice (43.6%) record high export growth during August 2022 as compared to the same period last year INDIA S FOREIGN TRADE: August 2022 India s overall exports (Merchandise and Services combined) in August 2022* are estimated to be USD 57.47 Billion, exhibiting a positive growth of 6.75 per cent over the same period last year. Overall imports in August 2022* are estimated to be USD 75.84 Billion, exhibiting a positive growth of 33.15 per cent over the same period last year. Table 1: Trade during August 2022* ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... August 2022 (USD Billion) August 2021 (USD Billion) Growth vis- -vis August 2021 (%) Merchandise Exports 33.92 33.38 1.62 Imports 61.90 45.09 37.28 Trade Balance -27.98 -11.71 -138.88 Services* Exports 23.54 20.45 15.12 Imports 13.94 11.87 17.47 Net of Services 9.60 8.59 11.86 Overall Trade (Merchandise+ Services) * Exports 57.47 53.83 6.75 Imports 75.84 56.96 33.15 Trade Balance -18.37 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.13 -487.80 * Note: The latest data for services sector released by RBI is for July 2022. The data for August 2022 is an estimation, which will be revised based on RBI s subsequent release. (ii) Data for April-August 2021 has been revised on pro-rata basis using quarterly balance of payments data. Fig 1: Overall Trade during August 2022* India s overall exports (Merchandise and Services combined) in April-August 2022* are estimated to be USD 311.82 Billion, exhibiting a positive growth of 19.72 per cent over the same period last year. Overall imports in April-August 2022* are estimated to be USD 390.91 Billion, exhibiting a positive growth of 43.78 per cent over the same period last year. Table 2: Trade during April-August 2022* April-August 2022 (USD Billion) April-August 2021 (USD Billion) Growth vis- -vis April-August 2021 (%) Merchandise Exports 193.51 164.44 17.68 Impo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rts 318.03 218.22 45.74 Trade Balance -124.52 -53.78 -131.52 Services* Exports 118.30 96.03 23.20 Imports 72.88 53.67 35.81 Net of Services 45.42 42.36 7.22 Overall Trade (Merchandise+ Services) * Exports 311.82 260.46 19.72 Imports 390.91 271.88 43.78 Trade Balance -79.10 -11.42 -592.61 * Note: The latest data for services sector released by RBI is for July 2022. The data for August 2022 is an estimation, which will be revised based on RBI s subsequent release. (ii) Data for April-August 2021 has been revised on pro-rata basis using quarterly b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alance of payments data. Fig 2: Overall Trade during April-August 2022* MERCHANDISE TRADE Merchandise exports in August 2022 were USD 33.92 Billion, as compared to USD 33.38 Billion in August 2021, exhibiting a positive growth of 1.62 per cent. Merchandise imports in August 2022 were USD 61.90 Billion, which is an increase of 37.28 per cent over imports of USD 45.09 Billion in August 2021. The merchandise trade deficit in August 2022 was estimated at USD 27.98 Billion as against USD 11.71 Billion in August 2021, which is an increase of 138.88 per cent. Fig 3: Merchandise Trade during August 2022 Merchandise exports for the period April-August 2022 were USD 193.51 Billion as against USD 164.44 Billion during the period April-August 2021, registering a positive growth of 17.68 per cent. Merchandise imports for the period April-August 2022 were USD 318.03 Billion as against USD 218.22 Billion during the period April-August 2021, registering a positive growth of 45.74 per cent. The merchandise trade deficit for April-August 2022 was estimated at USD 124.52 Billion as against USD 53.78 Billion in April-August 2021 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , which is an increase of 131.52 per cent. Fig 4: Merchandise Trade during April-August 2022 Non-petroleum and non-gems jewellery exports in August 2022 were USD 24.88 Billion, registering a negative growth of (-) 1.64 per cent over non-petroleum and non-gems jewellery exports of USD 25.29 Billion in August 2021. Non-petroleum, non-gems jewellery (gold, silver precious metals) imports were USD 37.53 Billion in August 2022 with a positive growth of 40.63 per cent over Non-petroleum, non-gems jewellery imports of USD 26.69 Billion in August 2021. Table 3: Trade excluding Petroleum and Gems Jewellery during August 2022 August 2022 (USD Billion) August 2021 (USD Billion) Growth vis- -vis August 2021 (%) Non- petroleum exports 28.21 28.73 -1.80 Non- petroleum imports 44.20 35.65 23.99 Non-petroleum Non Gems Jewellery exports 24.88 25.29 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -1.64 Non-petroleum Non Gems Jewellery imports 37.53 26.69 40.63 Note: Gems Jewellery Imports include Gold, Silver Pearls, precious Semi-precious stones Fig 5: Trade excluding Petroleum and Gems Jewellery during August 2022 Non-petroleum and non-gems jewellery exports during April-August 2022 was USD 135.57 Billion, an increase of 8.47 per cent over non-petroleum and non-gems jewellery exports of USD 124.99 Billion in April-August 2021. Non-petroleum, non-gems jewellery (gold, silver precious metals) imports were USD 185.05 Billion in April-August 2022, recording a positive growth of 37.64 per cent, as compared to Non-petroleum, non-gems jewellery imports of USD 134.44 Billion in April-August 2021. Table 4: Trade excluding Petroleum and Gems Jewellery during April-August 2022 April-August 2022 (USD Billion) April-August 2021 (USD Billion) Growth vis- -vis April-August 2021 (%) Non- petroleum export ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 152.41 141.05 8.06 Non- petroleum imports 218.56 165.46 32.10 Non-petroleum Non Gems Jewellery exports 135.57 124.99 8.47 Non-petroleum Non Gems Jewellery imports 185.05 134.44 37.64 Note: Gems Jewellery Imports include Gold, Silver Pearls, precious Semi-precious stones Fig 6: Trade excluding Petroleum and Gems Jewellery during April-August 2022 SERVICES TRADE The estimated value of services export for August 2022* is USD 23.54 Billion, exhibiting a positive growth of 15.12 per cent vis-a-vis August 2021 (USD 20.45 Billion). The estimated value of services import for August 2022* is USD 13.94 Billion exhibiting a positive growth of 17.47 per cent vis- -vis August 2021 (USD 11.87 Billion). The services trade balance in August 2022* is estimated at USD 9.60 Billion, which is an increase of 11.86 per cent over August 2021 (USD 8.59 Billion). Fig 7: Servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces Trade during August 2022* The estimated value of services export for April-August 2022* is USD 118.30 Billion, exhibiting a positive growth of 23.20 per cent vis-a-vis April-August 2021 (USD 96.03 Billion). The estimated value of services imports for April-August 2022* is USD 72.88 Billion exhibiting a positive growth of 35.81 per cent vis- -vis April-August 2021 (USD 53.67 Billion). The services trade balance for April-August 2022* is estimated at USD 45.42 Billion as against USD 42.36 Billion in April-August 2021, which is an increase of 7.22 per cent. Fig 8: Services Trade during April-August 2022* Table 5: Export Growth in Commodity Groups in August 2022 Sl. No. Commodities (Values in Million USD) % Change AUG'21 AUG'22 AUG'22 Commodity groups exhibiting positive growth 1 Tobacco 72.29 127.51 76.39 2 Oi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Meals 45.48 78.99 73.68 3 Electronic Goods 1146.43 1729.13 50.83 4 Rice 725.45 1041.72 43.60 5 Petroleum Products 4655.35 5714.76 22.76 6 Meat, dairy poultry products 274.88 336.07 22.26 7 Cereal preparations miscellaneous processed items 180.79 217.60 20.36 8 Coffee 76.71 89.80 17.06 9 Organic Inorganic Chemicals 2230.85 2531.28 13.47 10 Fruits Vegetables 223.28 251.97 12.85 11 Leather leather products 385.93 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 428.02 10.91 12 Tea 75.38 82.78 9.82 13 Ceramic products glassware 294.90 319.87 8.47 14 Drugs Pharmaceuticals 2008.88 2144.64 6.76 15 Other cereals 60.87 63.57 4.44 16 Spices 312.78 324.03 3.60 17 Jute Mfg. including Floor Covering 41.57 42.10 1.27 18 Oil seeds 78.35 79.18 1.06 Sl. No. Commodities (Values in Million USD) % Change AUG'21 AUG'22 AUG'22 Commodity Groups exhibiting negative growth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 Iron Ore 146.10 13.40 -90.83 20 Handicrafts excl. handmade carpet 182.26 116.37 -36.15 21 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 1302.91 883.75 -32.17 22 Cashew 35.42 24.26 -31.51 23 Carpet 143.87 104.22 -27.56 24 Engineering Goods 9663.09 8291.53 -14.19 25 Mica, Coal Other Ores, Minerals including processed minerals 424.65 385.22 -9.29 26 Man-made Yarn/Fabs./made-ups etc. 459.75 419.40 -8.78 27 Marine Products 686.66 663.45 -3.38 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 28 Gems Jewellery 3432.63 3330.30 -2.98 29 Plastic Linoleum 755.53 747.21 -1.10 30 RMG of all Textiles 1237.84 1233.57 -0.34 Table 6: Import Growth in Commodity Groups in August 2022 Sl. No. Commodities (Values in Million USD) % Change AUG'21 AUG'22 AUG'22 Commodity Groups exhibiting positive growth 1 Silver 15.49 684.34 4317.95 2 Cotton Raw Waste 39.92 295.76 640.88 3 Coal, Coke Briquettes, etc. 1939.16 4530.57 133.64 4 Petroleum, Crude products ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9443.19 17700.63 87.44 5 Textile yarn Fabric, made-up articles 145.49 266.79 83.37 6 Leather leather products 57.94 104.70 80.70 7 Fertilisers, Crude manufactured 834.01 1475.63 76.93 8 Pulp and Waste paper 115.05 191.80 66.71 9 Non-ferrous metals 1159.91 1722.36 48.49 10 Project goods 33.54 49.59 47.85 11 Artificial resins, plastic materials, etc. 1372.13 2023.49 47.47 12 Organic Inorganic Chemicals 2069.22 2959.75 43.04 13 Vegetable Oil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1335.50 1890.43 41.55 14 Wood Wood products 456.12 640.52 40.43 15 Machinery, electrical non-electrical 2917.63 3888.71 33.28 16 Iron Steel 1335.58 1763.44 32.04 17 Chemical material products 855.07 1104.83 29.21 18 Professional instrument, Optical goods, etc. 452.24 576.90 27.57 19 Electronic goods 5923.27 7302.07 23.28 20 Fruits vegetables 168.20 205.30 22.06 21 Dyeing/tanning/colouring materials 265.05 323.37 22.00 22 Machine tools ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 296.82 359.64 21.16 23 Transport equipment 1323.35 1599.48 20.87 24 Newsprint 34.43 41.51 20.56 25 Pearls, precious Semi-precious stones 2245.97 2415.31 7.54 26 Metaliferrous ores other minerals 772.20 788.49 2.11 Sl. No. Commodities (Values in Million USD) % Change AUG'21 AUG'22 AUG'22 Commodity Groups exhibiting negative growth 27 Gold 6702.92 3573.51 -46.69 28 Pulses 247.51 150.43 -39.22 29 Sulphur Unroasted Iron Pyrites ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17.90 14.36 -19.78 30 Medicinal Pharmaceutical products 656.88 638.23 -2.84 Table 7: MERCHANDISE TRADE EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) AUGUST APRIL-AUGUST EXPORTS (including re-exports) 2021-22 2,47,633.63 12,16,966.47 2022-23 2,69,874.67 15,11,224.41 %Growth 2022-23/2021-22 8.98 24.18 IMPORTS 2021-22 3,34,519.60 16,15,539.68 2022-23 4,92,457.24 24,86,013.62 %Growth 2022-23/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021-22 47.21 53.88 TRADE BALANCE 2021-22 -86,885.97 -3,98,573.20 2022-23 -2,22,582.57 -9,74,789.21 Table 8: SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) July 2022 April-July 2022 EXPORTS (Receipts) 23.27 94.76 IMPORTS (Payments) 13.93 58.94 TRADE BALANCE 9.34 35.81 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) July 2022 April-July 2022 EXPORTS (Receipts) 1,85,193.12 7,37,272.87 IMPORTS (Payments) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1,10,877.07 4,58,494.96 TRADE BALANCE 74,316.05 2,78,777.91 Source: RBI Press Release dated 1 st September 2022 - 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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