PIB issued statistics of India’s Foreign Trade for the month of November 2020

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India’s overall exports (Merchandise and Services combined) in April-November 2020-21* are estimated to be USD 304.25 Billion, exhibiting a negative growth of (-) 14.03 percent over the same period last year. Overall imports in April-November 2020-21* are estimated to be USD 290.66 Billion, exhibiting a negative growth of (-) 29.96 percent over the same period last year.

*Note: i) The latest data for the 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 ii) the figures in bracket are growth rates vis-à-vis the corresponding period of last year.

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

  • Exports in November 2020 were USD 23.52 Billion, as compared to USD 25.77 Billion in November 2019, exhibiting a negative growth of (-) 8.74 percent. In Rupee terms, exports were Rs. 1,74,559.49 Crore in November 2020, as compared to Rs. 1,84,142.27 Crore in November2019, registering a negative growth of (-) 5.20per cent.
  • The commodities/commodity groups which have recorded positive growth during November 2020 vis-à-vis November 2019 are Other cereals  (171.63%), Oil meals (72.09%), Iron ore (68.15%), Rice (25.88%), Ceramic products & glassware (21.38%), Handicrafts excl. handmade carpet (17.99%), Cereal preparations & miscellaneous processed items (17.04%), Carpet (15.59%), Jute mfg. including floor covering (14.3%), Spices (12.37%), Drugs & pharmaceuticals (11.15%), Tobacco (8.64%), Cotton yarn/fabs./made-ups, handloom products etc. (8.54%), Fruits & vegetables (6.08%), Tea (5.02%), Gems & jewellery (4.1%), Mica, Coal & other ores, minerals including processed minerals (3.69%), Meat, dairy & poultry products (1.35%) and Electronic Goods (0.97%).
  • The commodities/commodity groups which have recorded negative growth during November 2020 vis-à-vis November 2019 are Petroleum products (-59.73%), Leather & leather products (-29.8%), Cashew (-24.53%), Plastic & Linoleum (-23.26%), Marine products (-16.1%), Oil seeds (-15.2%), Man-made yarn/fabs./made-ups etc. (-11.06%), Engineering goods (-8.12%), Organic & inorganic chemicals (-8.06%), Coffee (-1.27%) and RMG of all textiles (-1.19%).
  • Cumulative value of exports for the period April-November 2020-21 was USD 173.66 Billion (Rs. 12,95,935.38 Crore) as against USD 211.17 Billion (Rs. 14,84,386.50 Crore) during the period April-November 2019-20, registering a negative growth of (-) 17.76 percent in Dollar terms (negative growth of (-) 12.70 percent in Rupee terms).
  • Non-petroleum and Non-Gems and Jewellery exports in November 2020 were USD 19.29 Billion, as compared to USD 19.37 Billion in November 2019, registering a negative growth of (-) 0.40 percent. Non-petroleum and Non-Gems and Jewellery exports in April-November 2020-21 were USD 144.11 Billion, as compared to USD 157.09 Billion for the corresponding period in 2019-20, which is a decrease of (-) 8.26 percent.

IMPORTS

  • Imports in November 2020 were USD 33.39 Billion (Rs. 2,47,839.85 Crore), which is a decline of(-) 13.32 percent in Dollar terms and (-) 9.96 percent in Rupee terms over imports of USD 38.52 Billion (Rs. 2,75,255.20 Crore) in November 2019. Cumulative value of imports for the period April-November 2020-21 was USD 215.69 Billion (Rs. 16,09,382.96 Crore), as against USD 324.59 Billion (Rs. 22,80,659.04 Crore) during the period April-November 2019-20, registering a negative growth of (-) 33.55 percent in Dollar terms and a negative growth of (-) 29.43per cent in Rupee terms.
  • Major commodity groups of import showing negative growth in November 2020 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

  • Oil imports in November 2020 were USD 6.27 Billion (Rs. 46,529.71 Crore), which was 43.36 percent lower in Dollar terms (41.17 percent lower in Rupee terms), compared to USD11.07 Billion (Rs. 79,090.66 Crore) in November 2019. Oil imports in April-November 2020-21 were USD 44.11 Billion (Rs. 3,29,460.58 Crore) which was 48.71 percent lower in Dollar terms (45.48 percent lower in Rupee terms) compared to USD 85.99 Billion (Rs. 6,04,310.34 Crore), over the same period last year.
  • In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 31.10% in November 2020 vis-à-vis November 2019 as per data available from World Bank.
  • Non-oil imports in November 2020 were estimated at USD 27.12 Billion (Rs. 2,01,310.14 Crore) which was 1.20 percent lower in Dollar terms (2.62 percent higher in Rupee terms), compared to USD27.45 Billion (Rs. 1,96,164.54 Crore) in November 2019. Non-oil imports in April-November 2020-21 were USD171.58 Billion (Rs. 12,79,922.38 Crore) which was 28.09 percent lower in Dollar terms (23.65 percent lower in Rupee terms), compared to USD 238.60 Billion (Rs. 16,76,348.70 Crore) in April-November 2019-20.
  • Non-Oil and Non-Gold imports were USD24.10 Billion in November 2020, recording a negative growth of (-) 1.67 percent, as compared to Non-Oil and Non-Gold imports of USD 24.51Billion in November 2019. Non-Oil and Non-Gold imports were USD 159.28 Billion in April-November 2020-21, recording a negative growth of (-) 26.94 percent, as compared to Non-Oil and Non-Gold imports of USD 218.01 Billion in April-November 2019-20.

II. TRADE IN SERVICES

EXPORTS (Receipts)

  • As per the latest press release by RBI dated 15th December 2020, exports in October 2020 were USD 16.58 Billion (Rs. 1,21,815.57 Crore) registering a negative growth of (-) 6.30 percent in Dollar terms, vis-à-vis October 2019. The estimated value of services export for November 2020* is USD 16.45 Billion.

IMPORTS (Payments)

  • As per the latest press release by RBI dated 15th December 2020, imports in October 2020 were USD 9.53 Billion (Rs. 69,968.84 Crore) registering a negative growth of (-) 12.33 percent in Dollar terms, vis-à-vis October 2019. The estimated value of services import for November 2020* is USD 9.37 Billion.

III.TRADE BALANCE

  • MERCHANDISE: The trade deficit for November 2020 was estimated at USD 9.87 Billion as against the deficit of USD 12.75 Billion in November 2019, which is a decline of (-) 22.57 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 7.06 Billion. The estimated trade balance in November 2020* is USD 7.08 Billion.
  • OVERALL TRADE BALANCE: Taking merchandise and services together, the overall trade surplus for April-November 2020-21* is estimated at USD 13.59 Billion as compared to the deficit of USD 61.06 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.  

MERCHANDISE TRADE

EXPORTS & IMPORTS: (US $ Billion)

(PROVISIONAL)

  NOVEMBER

APRIL-NOVEMBER

EXPORTS (including re-exports)

   

2019-20

25.77

211.17

2020-21 23.52

173.66

%Growth 2020-21/ 2019-20

-8.74 -17.76
IMPORTS  

2019-20

38.52 324.59
2020-21 33.39

215.69

%Growth 2020-21/ 2019-20

-13.32 -33.55
TRADE BALANCE  

2019-20

-12.75 -113.42
2020-21 -9.87

-42.03

EXPORTS & IMPORTS: (Rs. Crore)

 

(PROVISIONAL)

 
 

NOVEMBER

APRIL-NOVEMBER

EXPORTS (including re-exports)

 

2019-20

1,84,142.27 14,84,386.50
2020-21 1,74,559.49

12,95,935.38

%Growth 2020-21/ 2019-20

-5.20 -12.70

IMPORTS

   

2019-20

2,75,255.20 22,80,659.04
2020-21 2,47,839.85

16,09,382.96

%Growth 2020-21/ 2019-20

-9.96 -29.43

TRADE BALANCE

   

2019-20

-91,112.93 -7,96,272.55
2020-21 -73,280.36

-3,13,447.58

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

(PROVISIONAL) October 2020

April-October 2020-21

EXPORTS (Receipts)

16.58 114.15
IMPORTS (Payments) 9.53

65.61

TRADE BALANCE

7.06 48.54

EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

(PROVISIONAL)

October 2020 April-October 2020-21
EXPORTS (Receipts) 1,21,815.57

8,54,462.08

IMPORTS (Payments)

69,968.84 4,91,029.52
TRADE BALANCE 51,846.73

3,63,432.56

Source: RBI Press Release dated 15th December 2020  

The Statistics of Quick Estimates for November 2020 can be accessed at: https://static.pib.gov.in/WriteReadData/userfiles/Quick%20Estimates%20November%202020.pdf

The Press Release can be accessed at: https://pib.gov.in/PressReleasePage.aspx?PRID=1680830

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