Merchandise exports up by 197% during April’ 2021
According to preliminary data released by Ministry of Commerce and Industry, India’s merchandise exports grew by 197% year over year (yoy) during April’ 2021, with the value of exports standing at US$ 30.21 billion. Merchandise imports during April 2021 amounted to US$ 45.45 billion, with a growth of 166% yoy. Overall, India has a trade deficit of 15.25 billion in merchandise trade during April’ 2021, witnessing a yoy decline of 57.7%.
Export of non petroleum and non gems and jewellery goods stood at US$ 23.5 billion, growing by 164.28% yoy. Import of non petroleum and non gems and jewellery goods grew by 111.3% during April’2021, standing at US$ 26.05 billion during the month. Export of all the major commodities witnessed positive yoy growth during April 2021. Commodities with highest yoy growth in exports are gems and jewellery (9158.63%), jute mfg. including floor covering (1556.39%), carpet (1351.48%), handicrafts excl. hand-made carpet (1207.98%), and leather and leather manufactures (1168.96%).
Major commodities which experienced highest yoy growth in import during the period are Gold (215906.91%), Pearls, precious & Semi-precious stones (119500.48%), Sulphur & Unroasted Iron Pyrites (1525.05%), Electronic goods (213.59%), and Non-ferrous metals (193.89%). During April’ 2020, the exports and imports of merchandise witnessed yoy contraction of 60.9% and 59.7% respectively.