India's merchandise exports to grow 51% in April-Dec 2021 period: Exim Bank

Shipment value to reach $303.98 billion, of which non-oil exports are estimated at $258.78 billion; up 41% YoY

India’s merchandise exports are expected to grow by 51 per cent to about $303.98 billion in nine months ending December 2021 over the same period in 2020, according to estimates by Export-import Bank of India.

Of this, non-oil exports are pegged at $258.78 billion, up 40.9 per cent over April-December 2020.  

The rise in India’s exports could be attributed largely to the continued growth momentum in advanced economies and the resultant increase in global import demand, along with favorable global commodity prices.

Total merchandise exports may continue to cross the $100 billion mark for the second quarter in a row, and could amount to $105.8 billion in October-December 2021 (Q3FY22), up from $75.8 billion in Q3FY21. The non-oil exports are expected $89.1 billion in Q3FY22 as against $70.3 billion in October-December 2020, the bank said.

The forecasts are based on India Exim Bank’s Export Leading Index (ELI) Model, which has shown an upward movement during the same quarter.