India's Exports Slide 7.40% In FY21, Imports Fall Around 18%

India's merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, marking an increase of 58.23%. Exports during April-March 2020-21 were USD 290.18 billion, as compared to USD 313.36 billion during the same period of last year, exhibiting a negative growth of 7.40%.

India's merchandise imports in March 2021 were USD 48.12 billion as compared to USD 31.47 billion in March 2020, an increase of 52.89%. Merchandise imports during April-March 2020-21 were USD 388.92 billion, as compared to USD 474.71 billion during the same period of last year, exhibiting a negative growth of 18.07%.

 

India is thus a net importer in March 2021, with a trade deficit of USD 14.11 billion, as compared to trade deficit of USD 9.98 billion, improvement by 41.4%.

In March 2021, the value of non-petroleum exports was USD 30.79 billion as compared to USD 18.97 billion in March 2020, registering a positive growth of 62.3%. The value of non-petroleum and non-gems and jewellery exports in March 2021 was USD 27.25 billion, as compared to USD 16.95 billion in March 2020, registering a positive growth of 60.72%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-March 2020-21 was USD 238.54 billion, as compared to USD 236.17 billion for the corresponding period in 2019-20, exhibiting a growth of 1.0%.

In March 2021, Oil imports were USD 10.17 billion, as compared to USD 10.05 billion in March 2020, a growth of1.22%. Oil imports in April-March 2020-21 were USD 82.25 billion, as compared to USD 130.55 billion, showing a decline of 37.0%. Non-oil imports in March 2021 are estimated at USD 37.95 billion, as compared to USD 21.42 billion in March 2020, showing an increase of 77.12%. Non-oil imports in April-March 2020-21 were USD 306.67 billion, as compared to USD 344.16 billion, registering a decline of 10.89% during the same period of the last year.

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