India’s exports up by 60% YoY in March
India’s overall exports (Merchandise and Services combined) in April-March, 2020-21 were estimated at US$ 493.19 billion, showing a negative growth of 6.66% YoY. Total imports during April-March 2020-21* were estimated at US$ 505.94 billion, showing a negative growth of 16.53% YoY, according to data from the Department of Commerce, Government of India.
Exports in March 2021 were recorded at US$ 34.45 billion, as compared to US$ 21.49 billion in March 2020, growing by 60.29% YoY. In rupee terms, exports were at Rs. 250,756.40 crore in March 2021, as compared to Rs. 159,784.62 crore in March 2020, registering a positive growth of 56.93%.
The commodities/commodity groups, which have recorded positive growth during March 2021 vis-à-vis March 2020 are: Other 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 (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%).
On the other hand, the commodities/commodity groups which have recorded negative growth during March 2021 vis-à-vis March 2020 are Oil seeds (-6.45%) and Cashew (-1.99%). Cumulative value of exports for the period April-March 2020-21 was US$ 290.63 billion (Rs.21,50,325.03 crore) as against US$ 313.36 billion (Rs.22,19,854.18 crore) during the period April-March 2019-20, registering a negative growth of 7.26% in Dollar terms (negative growth of 3.13% in rupee terms.
Non-petroleum and Non-Gems and Jewellery exports in March 2021 were US$ 27.42 billion, as compared to US$ 16.95 billion in March 2020, registering a positive growth of 61.75%. Non-petroleum and Non-Gems and Jewellery exports in April-March 2020-21 were US$ 238.72 billion, as compared to US$ 236.17 billion for the corresponding period in 2019-20, which is an increase of 1.08%.