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India achieves an all-time high annual merchandise exports, touching USD 417.81 billion in FY 2021-22, an increase of 43.18% over USD 291.81 billion in previous fiscal

For the first time, monthly merchandise exports exceed USD 40 Billion, reaching USD 40.38 billion in March 2022, an increase of 14.53% over March 2021

INDIA’S MERCHANDISE TRADE: Preliminary Data March 2022

India achieved an all-time high annual merchandise exports of USD 417.81 billion in FY 2021-22, an increase of 43.18% over USD 291.81 billion in FY2020-21 and an increase of 33.33% over USD 313.36 billion in FY2019-20.

India achieved an all-time high annual merchandise exports

For the first time, India’s monthly merchandise exports exceeded USD 40 Billion, reaching USD 40.38 billion in March 2022, an increase of 14.53% over USD 35.26 billion in March 2021 and an increase of 87.89% over USD 21.49 billion in March 2020.

India’s merchandise import in March 2022 was USD 59.07 billion, an increase of 20.79% over USD 48.90 billion in March 2021 and an increase of 87.68% over USD 31.47 billion in March 2020.

India’s merchandise import in March 2022

India’s merchandise import in April 2021-March 2022 was USD 610.22 billion, an increase of 54.71% over USD 394.44 billion in April 2020-March 2021 and an increase of 28.55% over USD 474.71 billion in April 2019-March 2020.

The trade deficit in March 2022 was USD 18.69 billion, while it was USD 192.41 billion during April 2021-March 2022.

Statement 1: India’s Total Trade in Merchandise goods in March2022
Value in Billion USD % Growth
Mar-22 Mar-21 Mar-20 Mar-22 over Mar-21 Mar-22 over Mar-20
Exports 40.38 35.26 21.49 14.53 87.89
Imports 59.07 48.90 31.47 20.79 87.68
Deficit 18.69 13.64 9.98 36.97 87.23

Statement 2: India’s Total Trade in Merchandise goods in Apr 2021-Mar2022
Value in Billion USD % Growth
Apr21-Mar22 Apr20-Mar21 Apr19-Mar20 Apr21-Mar22 over Apr20-Mar21 Apr21-Mar22 over Apr19-Mar20
Exports 417.81 291.81 313.36 43.18 33.33
Imports 610.22 394.44 474.71 54.71 28.55
Deficit 192.41 102.63 161.35 87.49 19.25

Chart 1 & 2 - India's Merchandise Trade in March 2022

Value of non-petroleum exports in March 2022 was 33.00 USD billion, registering a positive growth of 4.28% over non-petroleum exports of USD 31.65 billion in March 2021 and a positive growth of 73.94% over non-petroleum exports of USD 18.97 billion in March 2020.

Value of non-petroleum imports was USD 40.66 billion in March 2022 with a positive growth of 5.26% over non-petroleum imports of USD 38.63 billion in March 2021 and a positive growth of 89.79% over non-petroleum imports of USD 21.42 billion in March 2020.

Statement 3: Merchandise Non-POL Trade in March 2022
Value in Billion USD % Growth
Mar-22 Mar-21 Mar-20 Mar-22 over Mar-21 Mar-22 over Mar-20
Exports 33.00 31.65 18.97 4.28 73.94
Imports 40.66 38.63 21.42 5.26 89.79

The cumulative value of non-petroleum exports in April 2021-March 2022 was USD 352.76 billion, an increase of 32.62% over USD 266.00 billion in April 2020-March 2021 and an increase of 29.66% over USD 272.07 billion in April 2019-March 2020.

The cumulative value of non-petroleum imports in April 2021-March 2022 was USD 449.54 billion, showing an increase of 44.2% compared to non-oil imports of USD 311.75 billion in April 2020-March 2021 and an increase of 30.62% compared to non-oil imports of USD 344.16 billion in April 2019-March 2020.

Statement 4: Merchandise Non-POL Trade Apr 2021-Mar 2022
Value in Billion USD % Growth
Apr21-Mar22 Apr20-Mar21 Apr19-Mar20 Apr21-Mar22 over Apr20-Mar21 Apr21-Mar22 over Apr19-Mar20
Exports 352.76 266.00 272.07 32.62 29.66
Imports 449.54 311.75 344.16 44.20 30.62

Value of non-petroleum and non-gems and jewellery exports in March 2022 was USD 29.38 billion, registering a positive growth of 4.79% over non-petroleum and non-gems and jewellery exports of USD 28.03 billion in March 2021 and a positive growth of 73.28% over non-petroleum and non-gems and jewellery exports of USD 16.95 billion in March 2020.

India achieves an all-time high annual merchandise exports

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 36.18 billion in March 2022 with a positive growth of 31.21% over non-oil and non-GJ imports of USD 27.58 billion in March 2021 and a positive growth of 93.52% over non-oil and non-GJ imports of USD 18.70 billion in March 2020.

Statement 5: Merchandise Non-POL Non-GJ Trade in March 2022
Value in Billion USD % Growth
Mar-22 Mar-21 Mar-20 Mar-22 over Mar-21 Mar-22 over Mar-20
Exports 29.38 28.03 16.95 4.79 73.28
Imports 36.18 27.58 18.70 31.21 93.52

The cumulative value of non-petroleum and non-gems and jewellery exports in April 2021-March 2022 was USD 313.82 billion, an increase of 30.77% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 239.98 billion in April 2020-March 2021 and an increase of 32.88% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 236.17 billion in April 2019-March 2020.

Non-oil, non-GJ (Gold, Silver & Precious Metals) imports was USD 369.19 billion in April 2021-March 2022, recording a positive growth of 43.39%, as compared to non-oil and non-GJ imports of USD 257.47 billion in April 2020-March 2021 and a positive growth of 26.98% over USD 290.74 billion in April 2019-March 2020.

Statement 6: Merchandise Non-POL Non-GJ Trade Apr 2021-Mar 2022
Value in Billion USD % Growth
Apr21-Mar22 Apr20-Mar21 Apr19-Mar20 Apr21-Mar22 over Apr20-Mar21 Apr21-Mar22 over Apr19-Mar20
Exports 313.82 239.98 236.17 30.77 32.88
Imports 369.19 257.47 290.74 43.39 26.98

Top 10 major commodity groups covering 81% of total exports in March 2022, are –

Statement 7: Exports of Top 10 Major Commodity Groups in March 2022
Value of Export (Million US$) Share (%) Growth (%)
Major Commodity Group Mar-22 Mar-21 Mar-22 Mar-22 over Mar-21
Engineering goods 10470.80 9298.36 25.93 12.61
Petroleum products 7377.07 3609.36 18.27 104.39
Gems and Jewellery 3624.34 3613.01 8.98 0.31
Organic and Inorganic chemicals 2649.59 2288.87 6.56 15.76
Drugs and Pharmaceuticals 2261.65 2295.05 5.60 -1.46
Electronic goods 1740.56 1400.67 4.31 24.27
RMG of all Textiles 1661.50 1425.95 4.11 16.52
Cotton Yarn/Fabs./Madeups, Handloom products etc. 1290.26 1105.05 3.20 16.76
Rice 985.48 1116.54 2.44 -11.74
Plastic and Linoleum 811.53 719.54 2.01 12.78
Total of 10 Major Commodity Groups 32872.78 26872.40 81.41 22.33
Rest 7506.82 8384.20 18.59 -10.46
Total Exports 40379.59 35256.60 100.00 14.53

Top 10 major commodity groups covering 81% of total imports in March 2022, are –

Statement 8: Imports of Top 10 Major Commodity Groups in March 2022
Import (Million US$) Share (%) Growth (%)
Major Commodity Group Mar-22 Mar-21 Mar-22 Mar-22 over Mar-21
Petroleum, Crude & products 18406.97 10271.38 31.16 79.21
Electronic goods 8293.79 5864.15 14.04 41.43
Coal, Coke & Briquettes, etc. 4390.95 1735.74 7.43 152.97
Machinery, electrical & non-electrical 3457.83 3513.68 5.85 -1.59
Pearls, precious & Semi-precious stones 3337.02 2547.27 5.65 31.00
Organic & Inorganic Chemicals 2720.91 2102.57 4.61 29.41
Transport equipment 1993.64 2210.75 3.38 -9.82
Artificial resins, plastic materials, etc. 1861.93 1719.92 3.15 8.26
Vegetable Oil 1674.59 1076.81 2.84 55.51
Fertilisers, Crude & manufactured 1615.96 204.16 2.74 691.50
Total of 10 Major Commodity Groups 47753.59 31246.42 80.85 52.83
Rest 11312.37 17652.44 19.15 -35.92
Total Imports 59065.96 48898.86 100.00 20.79

Top 10 major commodity groups covering 80% of total exports in April 2021-March 2022, are –

Statement 9: Exports of Top 10 Major Commodity Groups in April 2021-March 2022
Value of Export (Million US$) Share (%) Growth (%)
Major Commodity Group Apr21-Mar22 Apr20-Mar21 Apr21-Mar22 Apr21-Mar22  over Apr20-Mar21
Engineering goods 111632.94 76719.60 26.72 45.51
Petroleum products 65044.80 25804.37 15.57 152.07
Gems and Jewellery 38942.88 26022.82 9.32 49.65
Organic and Inorganic chemicals 29152.67 22088.48 6.98 31.98
Drugs and Pharmaceuticals 24475.36 24444.03 5.86 0.13
RMG of all Textiles 15936.70 12272.21 3.81 29.86
Electronic goods 15588.06 11093.29 3.73 40.52
Cotton Yarn/Fabs./Madeups, Handloom products etc. 15244.20 9827.89 3.65 55.11
Plastic and Linoleum 9783.35 7462.85 2.34 31.09
Rice 9625.50 8829.21 2.30 9.02
Total of 10 Major Commodity Groups 335426.46 224564.75 80.28 49.37
Rest 82382.75 67243.73 19.72 22.51
Total Exports 417809.21 291808.48 100.00 43.18

Top 10 major commodity groups covering 77% of total imports in April 2021-March 2022, are –

Statement 10: Imports of Top 10 Major Commodity Groups in April 2021-March 2022
Import (Million US$) Share (%) Growth (%)
Major Commodity Group Apr21-Mar22 Apr20-Mar21 Apr21-Mar22 Apr21-Mar22 over Apr20-Mar21
Petroleum, Crude & products 160683.24 82683.87 26.33 94.33
Electronic goods 73067.90 54287.93 11.97 34.59
Gold 46140.66 34603.92 7.56 33.34
Machinery, electrical & non-electrical 39853.08 30084.48 6.53 32.47
Coal, Coke & Briquettes, etc. 31514.97 16274.53 5.16 93.65
Pearls, precious & Semi-precious stones 30927.82 18887.96 5.07 63.74
Organic & Inorganic Chemicals 30222.86 19825.35 4.95 52.45
Transport equipment 20206.07 18649.18 3.31 8.35
Artificial resins, plastic materials, etc. 20104.96 13510.01 3.29 48.82
Vegetable Oil 18931.51 11089.11 3.10 70.72
Total of 10 Major Commodity Groups 471653.07 299896.33 77.29 57.27
Rest 138568.35 94539.54 22.71 46.57
Total Imports 610221.42 394435.87 100.00 54.71

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