India’s Overall exports (Merchandise and Services) in June 2021 Estimated to be US$ 49.85 Billion, Exhibiting A Positive Growth of 31.87%

India’s overall exports (Merchandise and Services combined) in June 2021* are estimated to be US$ 49.85 billion, exhibiting a positive growth of 31.87% over the same period last year and a positive growth of 17.17% over June 2019. Overall imports in June 2021* are estimated to be US$ 52.18 billion, exhibiting a positive growth of 73.65% over the same period last year and a positive growth of 1.08% over June 2019

		June 2021 (US$ billion)	June 2020 (US$ billion)	June 2019 (US$ billion)	Growth vis-à-vis June 2020 (%)	Growth vis-à-vis June 2019 (%)
Merchandise	Exports	32.50	21.91	25.03	48.34	29.85
Imports	41.87	21.11	41.03	98.31	2.05
Trade Balance	-9.37	0.79	-16.00	-1281.86	41.43
Services*	Exports	17.35	15.89	17.51	9.16	-0.94
Imports	10.31	8.94	10.59	15.38	-2.68
Net of Services	7.04	6.96	6.92	1.18	1.73
Overall Trade (Merchandise+ Services)*	Exports	49.85	37.80	42.54	31.87	17.17
Imports	52.18	30.05	51.63	73.65	1.08
Trade Balance	-2.34	7.75	-9.09	-130.13	74.30

*Note: The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI’s subsequent release.(ii) Data for2019 and 2020are revised on pro-rata basis using quarterly balance of payments data.

US$ 147.64 billion, exhibiting a positive growth of 50.24% over the same period last year and a positive growth of 10.92% over April-June 2019. Overall imports in April-June 2021* are estimated to be US$ 156.58 billion, exhibiting a positive growth of 80.75% over the same period last year and a negative growth of (-) 3.48% over April-June 2019. 

		April-June 2021 (US$ billion)	April-June 2020 (US$ billion)	April-June 2019 (US$ billion)	Growth vis-à-vis April-June 2020 (%)	Growth vis-à-vis April-June 2019 (%)
Merchandise	Exports	95.39	51.32	80.91	85.88	17.90
Imports	126.15	60.44	130.10	108.72	-3.04
Trade Balance	-30.75	-9.12	-49.19	-237.25	37.48
Services*	Exports	52.25	46.95	52.20	11.29	0.11
Imports	30.44	26.19	32.12	16.20	-5.24
Net of Services	21.81	20.76	20.08	5.09	8.66
Overall Trade (Merchandise+ Services)*	Exports	147.64	98.27	133.11	50.24	10.92
Imports	156.58	86.63	162.22	80.75	-3.48
Trade Balance	-8.94	11.64	-29.12	-176.80	69.30

*Note: The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI’s subsequent release.(ii) Data for 2019%and 2020%are revised on pro-rata basis using quarterly balance of payments data.
 

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

• Exports in June 2021 were US$ 32.50 billion, as compared to US$ 21.91 billion in June 2020, exhibiting a positive growth of 48.34%. In Rupee terms, exports were Rs. 2,39,047.45 Crore in June 2021, as compared to Rs. 1,65,898.85 Crore in June 2020, registering a positive growth of 44.09%. As compared to June 2019, exports in June 2021 exhibited a positive growth of 29.85% in Dollar terms and 37.55% in Rupee terms.
• The commodities/commodity groups which have recorded positive growth during June 2021 vis-à-vis June 2020 are Other cereals (235.93%), Petroleum products (115.37%), Man-made yarn/fabs./made-ups etc.(81.72%), Gems & jewellery (80.53%), Meat, dairy & poultry products (61.81%), Cotton yarn/fabs./made-ups, handloom products etc.(56.88%), Handicrafts excl. handmade Carpet (55.1%), Plastic & Linoleum (53.8%), Engineering goods (52.9%), Electronic goods (45.2%), Jute mfg. including floor covering (44.93%), Iron ore (43.82%), Carpet (39.49%), Cereal preparations & miscellaneous processed items (38.64%), Ceramic products & glassware (36.97%), Organic & inorganic chemicals (36.3%), Marine products (33.74%), Leather & leather products (32.72%), Oil meals (28.16%), RMG of all textiles (24.67%), Mica, Coal & other ores, minerals including processed minerals (24.17%), Coffee (12.82%), Tobacco (9.15%), Rice (8.81%), Fruits & Vegetables (8.26%) and Drugs & pharmaceuticals (0.02%).
• The commodities/commodity groups which have recorded negative growth during June 2021 vis-à-vis June 2020 are Oil seeds (-32.75%), Cashew (-24.45%), Tea (-18.54%) and Spices (-11.31%).
• Cumulative value of exports for the period April-June 2021 was US$ 95.39 Billion (Rs. 7,03,545.37 Crore) as against US$ 51.32 billion (Rs. 3,89,016.27 Crore) during the period April-June 2020, registering a positive growth of 85.88% in Dollar terms (positive growth of 80.85% in Rupee terms). As compared to April-June 2019, exports in April-June 2021 exhibited a positive growth of 17.90% in Dollar terms and 25.01% in Rupee terms.
• Non-petroleum and Non-Gems and Jewellery exports in June 2021 were US$ 25.65 billion, as compared to US$ 18.48 billion in June 2020, registering a positive growth of 38.84%. As compared to June 2019, Non-petroleum and Non-Gems and Jewellery exports in June 2021registered a positive growth of 33.42%. Non-petroleum and Non-Gems and Jewellery exports in April-June 2021 were US$ 73.24 billion, as compared to US$ 43.91 billion for the corresponding period in 2020-21, which is an increase of 66.79%. As compared to April-June 2019, Non-petroleum and Non-Gems and Jewellery exports in April-June 2021 registered a positive growth of 21.40%.

IMPORTS

• Imports in June 2021 were US$ 41.87 billion (Rs.3,08,002.48 Crore), which is an increase of 98.31% in Dollar terms and 92.63% in Rupee terms over imports of US$ 21.11 Billion (Rs 1,59,892.42 Crore) in June 2020. Imports in June 2021 have registered a positive growth of2.05% in Dollar terms and 8.10% in Rupee terms in comparison to June 2019. Cumulative value of imports for the period April-June 2021 was US$ 126.15 billion (Rs. 9,30,961.10 Crore), as against US$ 60.44 billion (Rs. 4,58,395.18 Crore) during the period April-June 2020, registering a positive growth of 108.72% in Dollar terms and a positive growth of 103.09% in Rupee terms. Imports in April-June 2021 have registered a negative growth of (-) 3.04% in Dollar terms and positive growth of 2.88% in Rupee terms in comparison to April-June 2019.

CRUDE OIL AND NON-OIL IMPORTS:

• Oil imports in June 2021 were US$ 10.68 billion (Rs. 78,532.41 Crore), which was 116.51% higher in Dollar terms (110.31% higher in Rupee terms), compared to US$ 4.93 billion (Rs. 37,341.70 Crore) in June 2020. As compared to June 2019, oil imports in June 2021 were 4.72% lower in Dollar terms and 0.93% higher in Rupee terms. Oil imports in April-June 2021 were US$ 31.00 billion (Rs.2,28,756.45 Crore) which was 137.02% higher in Dollar terms (130.46% higher in Rupee terms) compared to US$ 13.08 billion (Rs. 99,259.42 Crore), over the same period last year. As compared to April-June 2019, oil imports in April-June 2021 were 12.33% lower in Dollar terms and 6.99% lower in Rupee terms.
• In this connection it is mentioned that the global Brent price ($/bbl.) has increased by 83.00% in June 2021 vis-à-vis June 2020 as per data available from World Bank.

• Non-oil imports in June 2021 were estimated at US$ 31.20 billion (Rs. 2,29,470.07 Crore) which was 92.77% higher in Dollar terms (87.24% higher in Rupee terms), compared to US$ 16.18 billion (Rs. 1,22,550.72 Crore) in June 2020. As compared to June 2019, Non-oil imports in June 2021, were 4.59% higher in Dollar terms and 10.79% higher in Rupee terms. Non-oil imports in April-June 2021 were US$ 95.14 billion (Rs. 7,02,204.65 Crore) which was 100.90% higher in Dollar terms (95.53% higher in Rupee terms), compared to US$ 47.36 billion (Rs. 3,59,135.76 Crore) in April-June 2020. As compared to April-June 2019, Non-oil imports in April-June 2021 were 0.43% higher in Dollar terms and 6.56% higher in Rupee terms.
• Non-Oil and Non-Gold imports were US$ 30.23 billion in June 2021, recording a positive growth of 94.07%, as compared to Non-Oil and Non-Gold imports of US$ 15.57 billion in June 2020. Non-Oil and Non-Gold imports in June 2021 recorded a positive growth of 11.41% over June 2019. Non-Oil and Non-Gold imports were US$ 87.26 billion in April-June 2021, recording a positive growth of 86.96%, as compared to Non-Oil and Non-Gold imports of US$ 46.67 billion in April-June 2020. Non-Oil and Non-Gold imports in April-June 2021 recorded a positive growth of 4.76% over April-June 2019.

II. TRADE IN SERVICES

EXPORTS (Receipts)

• As per the latest press release by RBI dated 1^st July 2021, exports in May 2021 were US$ 17.36 billion (Rs. 1,27,170.75 Crore) registering a positive growth of 10.71% in Dollar terms, vis-à-vis May 2020. The estimated value of services export for June 2021* is US$ 17.35 billion, exhibiting a positive growth of 9.16% vis-a-vis June 2020 (US$ 15.89 billion) and a negative growth of (-) 0.94% vis-à-vis June 2019 (US$ 17.51 billion).

IMPORTS (Payments)

• As per the latest press release by RBI dated 1^st July 2021, imports in May 2021 were US$ 10.23 billion (Rs. 74,974.84 Crore) registering a positive growth of 14.78% in Dollar terms, vis-à-vis May 2020. The estimated value of services import for June2021* is US$ 10.31Billion exhibiting a positive growth of 15.38% vis-à-vis June 2020 (US$ 8.94 billion) and a negative growth of(-) 2.68%%vis-à-vis June 2019 (US$ 10.59 billion).

III.TRADE BALANCE

• MERCHANDISE: The trade balance for June2021 was estimated at US$(-) 9.37 billion as against US$ 0.79 billion inJune2020, which is a decline of (-) 1281.86%. As compared to June 2019 (US$ (-) 16.00 billion), trade balance in June 2021 exhibited a positive growth of41.43%.%%%%
• SERVICES: As per RBI’s Press Release dated 1^st July 2021, the trade balance in Services (i.e., Net Services export) for May 2021 is US$ 7.12 billion. The estimated trade balance in June 2021* is US$ 7.04 billion, which is an increase of 1.18% over June 2020 (US$ 6.96 billion) and an increase of1.73% over June 2019 (US$ 6.92 billion).
• OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade balance for June 2021* is estimated at US$(-) 2.34 billion as compared to US$ 7.75 billion in June 2020, a decline of (-) 130.13%. In comparison to June 2019 (US$ (-) 9.09 billion), trade balance in June 2021 exhibited a positive growth of 74.30%.
   

 *Note: The latest data for services sector released by RBI is for May 2021. The data for June 2021 is an estimation, which will be revised based on RBI’s subsequent release.(ii) Data for 2019%and 2020%are revised on pro-rata basis using quarterly balance of payments data.
MERCHANDISE TRADE

EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
	JUNE	APRIL-JUNE
EXPORTS(including re-exports)
2019-20	1,73,790.79	5,62,813.36
2020-21	1,65,898.85	3,89,016.27
2021-22	2,39,047.45	7,03,545.37
%Growth 2021-22/ 2020-21	44.09	80.85
%Growth 2021-22/ 2019-20	37.55	25.01
IMPORTS
2019-20	2,84,925.13	9,04,933.07
2020-21	1,59,892.42	4,58,395.18
2021-22	3,08,002.48	9,30,961.10
%Growth 2021-22/ 2020-21	92.63	103.09
%Growth 2021-22/ 2019-20	8.10	2.88
TRADE BALANCE
2019-20	-1,11,134.34	-3,42,119.71
2020-21	6,006.43	-69,378.91
2021-22	-68,955.03	-2,27,415.73

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US$ billion)
(PROVISIONAL)	May 2021	April-May 2021
EXPORTS (Receipts)	17.36	34.90
IMPORTS (Payments)	10.23	20.13
TRADE BALANCE	7.12	14.78
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)	May 2021	April-May 2021
EXPORTS (Receipts)	1,27,170.75	2,57,847.12
IMPORTS (Payments)	74,974.84	1,48,672.53
TRADE BALANCE	52,195.91	1,09,174.59
Source: RBI Press Release dated 1stJuly 2021

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