Merchandise exports and imports grew by - 9% and - 13% respectively in November 2020


MERCHANDISE TRADE

EXPORTS

Exports in November 2020 were USD 23 Billion, as compared to USD 26 Billion in November 2019, exhibiting a negative growth of (-) 9 per cent. In Rupee terms, exports were Rs. 1,74,559 Crore in November 2020, as compared to Rs. 1,84,142 Crore in November 2019, registering a negative growth of (-) 5 per cent.

Cumulative value of exports for the period April-November 2020-21 was USD 174 Billion (Rs. 12,95,935 Crore) as against USD 211 Billion (Rs. 14,84,386 Crore) during the period April-November 2019-20, registering a negative growth of (-) 18 per cent in Dollar terms (negative growth of (-) 13 per cent in Rupee terms).

IMPORTS

Imports in November 2020 were USD 33 Billion (Rs. 2,47,839 Crore), which is a decline of (-) 13 per cent in Dollar terms and (-) 10 per cent in Rupee terms over imports of USD 38 Billion (Rs 2,75,255 Crore) in November 2019.

Cumulative value of imports for the period April-November 2020-21 was USD 216 Billion (Rs. 16,09,382 Crore), as against USD 325 Billion (Rs. 22,80,659 Crore) during the period April-November 2019-20, registering a negative growth of (-) 33 per cent in Dollar terms and a negative growth of (-) 29 per cent in Rupee terms.

Trend of India’s Merchandize Exports and Imports Growth (in %)

Source: PHD Research Bureau; PHDCCI Compiled from Ministry of Commerce and Industry, Government of India

India’s Merchandise Trade Statistics at a Glance

 

Merchandise

Feb-20

Mar-20

Apr-20

May-20

Jun-20

July-20

Aug-20

Sept-20

Oct-20

Nov-20

Exports (USD billion)

28

21

10

19

22

24

23

27

25

23

Growth (%)

3

-35

-60

-36

-12

-10

-13

6

-5

-9

Imports (USD billion)

38

31

17

22

21

29

30

30

34

33

Growth (%)

2.5

-29

-59

-51

-48

-28

-26

-20

-12

-13

Trade Balance (USD billion)

-10

-10

-7

-3

1

-5

-7

-3

-9

-10

Source: PHD Research Bureau; PHDCCI Compiled from Ministry of Commerce and Industry, Government of India

TRADE IN SERVICES

EXPORTS

As per the latest press release by RBI dated 15th December 2020, exports in October 2020 were USD 17 Billion (Rs. 1,21,815 Crore) registering a negative growth of (-) 6 per cent in Dollar terms, vis-à-vis October 2019. The estimated value of services export for November 2020* is USD 16 Billion

IMPORTS

As per the latest press release by RBI dated 15th December 2020, imports in October 2020 were USD 10 Billion (Rs. 69,969 Crore) registering a negative growth of (-) 12 per cent in Dollar terms, vis-à-vis October 2019. The estimated value of services import for November 2020* is USD 9 Billion.

Trade in Services at a Glance

 

Services

Jan-20

Feb-20

Mar-20

Apr-20

May-20

Jun-20

Jul-20

Aug-20

Sept-20

Oct-20

Exports (Receipts) (USD billion)

19

18

18

16

17

17

17

17

17

17

Imports (Payments) (USD billion)

12

11

11

9

10

10

10

10

10

10

Trade Balance (USD billion)

7

7

7

7

7

7

7

7

7

7

 

Source: PHD Research Bureau; PHDCCI Compiled from Ministry of Commerce and Industry, Government of India

OVERALL TRADE BALANCE

MERCHANDISE

The trade deficit for November 2020 was estimated at USD 10 Billion as against the deficit of USD 13 Billion in November 2019, which is a decline of (-) 22 percent

SERVICES

As per RBI’s Press Release dated 15th December 2020, the trade balance in Services (i.e. Net Services export) for October 2020 is USD 7 Billion. The estimated trade balance in November 2020* is USD 7 Billion.

OVERALL TRADE BALANCE

Taking merchandise and services together, overall trade surplus for April-November 2020-21* is estimated at USD 14 Billion as compared to the deficit of USD 61 Billion in April-November 2019-20.

*Note: The latest data for services sector released by RBI is for October 2020. The data for November 2020 is an estimation, which will be revised based on RBI’s subsequent release.


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