Subscribe

0

LimeLight

Over 36% YoY Growth Witnessed in India’s Exports in January 2022

Overall imports in January 2022* are estimated to be USD 67.76 Billion, exhibiting a slower rate of growth of 30.54 per cent over the same period last year and a positive growth of 30.19 per cent over January 2020.

author-image
SMEStreet Edit Desk
New Update
Exports, Engineering, Deloitte

India’s overall exports (Merchandise and Services combined) in January 2022* are estimated to be USD 61.41 Billion, exhibiting a positive growth of 36.76 per cent over the same period last year and a positive growth of 38.90 per cent over January 2020. Overall imports in January 2022* are estimated to be USD 67.76 Billion, exhibiting a slower rate of growth of 30.54 per cent over the same period last year and a positive growth of 30.19 per cent over January 2020.

Table 1: Trade during January 2022*

January 2022

(USD Billion)

 January 2021

(USD Billion)

 January 2020

(USD Billion)

 Growth vis-à-vis January 2021 (%) Growth vis-à-vis January 2020 (%)
Merchandise Exports 34.50 27.54 25.85 25.28 33.45
Imports 51.93 42.03 41.15 23.54 26.19
Trade Balance -17.42 -14.49 -15.30 -20.23 -13.91
Services* Exports 26.91 17.37 18.36 54.95 46.57
Imports 15.83 9.88 10.90 60.32 45.33
Net of Services 11.07 7.49 7.46 47.86 48.38
Overall Trade (Merchandise+

Services)*

 Exports 61.41 44.90 44.21 36.76 38.90
Imports 67.76 51.91 52.05 30.54 30.19
Trade Balance -6.35 -7.00 -7.83 9.30 18.92

* Note: The latest data for services sector released by RBI is for December 2021. The data for January 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for 2019, 2020 and April to September 2021 are revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during January 2022*

  • India’s overall exports (Merchandise and Services combined) in April-January 2021-22* are estimated to be USD 545.71 Billion, exhibiting a positive growth of 37.68 per cent over the same period last year and a positive growth of 23.29 per cent over April-January 2019-20. Overall imports in April-January 2021-22* are estimated to be USD 616.91 Billion, exhibiting a positive growth of 54.35 per cent over the same period last year and a positive growth of 20.15 per cent over April-January 2019-20.

Table 2: Trade during April-January 2021-22*

April-January 2021-22

(USD Billion)

 April-January 2020-21

(USD Billion)

 April-January 2019-20

(USD Billion)

 Growth vis-à-vis April-January 2020-21 (%) Growth vis-à-vis April-January 2019-20 (%)
Merchandise Exports 335.88 228.92 264.13 46.73 27.17
Imports 495.75 304.79 405.33 62.65 22.31
Trade Balance -159.87 -75.87 -141.21 -110.71 -13.21
Services* Exports 209.83 167.45 178.49 25.31 17.56
Imports 121.16 94.88 108.13 27.69 12.05
Net of Services 88.67 72.57 70.36 22.19 26.03
Overall Trade (Merchandise+

Services)*

 Exports 545.71 396.37 442.62 37.68 23.29
Imports 616.91 399.67 513.47 54.35 20.15
Trade Balance -71.19 -3.30 -70.85 -2056.86 -0.48

* Note: The latest data for services sector released by RBI is for December 2021. The data for January 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for 2019, 2020 and April to September 2021 are revised on pro-rata basis using quarterly balance of payments data.

Fig 2: Overall Trade during April-January 2022*

MERCHANDISE TRADE

  • Merchandise exports in January 2022 were USD 34.50 Billion, as compared to USD 27.54 Billion in January 2021, exhibiting a positive growth of 25.28 per cent. As compared to January 2020, exports in January 2022 exhibited a positive growth of 33.45 per cent.
  • Merchandise imports in January 2022 were USD 51.93 Billion, which is an increase of 23.54 per cent over imports of USD 42.03 Billion in January 2021. Imports in January 2022 have registered a positive growth of 26.19 per cent in comparison to January 2020.
  • The merchandise trade balance for January 2022 was estimated at USD (-)17.42 Billion as against USD (-) 14.49 Billion in January 2021, which is a decline of (-) 20.23 per cent. As compared to January 2020 (USD (-) 15.30 Billion), trade balance in January 2022 exhibited a negative growth of (-) 13.91 per cent.

Fig 3: Merchandise Trade during January 2022

  • Merchandise exports for the period April-January 2021-22 was USD 335.88 Billion as against USD 228.92 Billion during the period April-January 2020-21, registering a positive growth of 46.73 per cent. As compared to April-January 2019-20, exports in April-January 2021-22 exhibited a positive growth of 27.17 per cent.
  • Merchandise imports for the period April-January 2021-22 was USD 495.75 Billion as against USD 304.79 Billion during the period April-January 2020-21, registering a positive growth of 62.65 per cent. Imports in April-January 2021-22 have registered a positive growth of 22.31 per cent in comparison to April-January 2019-20.
  • The merchandise trade balance for April-January 2021-22 was estimated at USD (-) 159.87 Billion as against USD (-) 75.87 Billion in April-January 2020-21, which is a decline of (-) 110.71 per cent. As compared to April-January 2019-20 (USD (-) 141.21 Billion), trade balance in April-January 2021-22 exhibited a negative growth of (-) 13.21 per cent.

Fig 4: Merchandise Trade during April- January 2021-22

  • Non-petroleum and non-gems & jewellery exports in January 2022 were USD 27.10 Billion, registering a positive growth of 20.13 per cent over non-petroleum and non-gems & jewellery exports of USD 22.56 Billion in January 2021 and a positive growth of 36.95 per cent over non-petroleum and non-gems & jewellery exports of USD 19.79 Billion in January 2020.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 34.62 Billion in January 2022 with a positive growth of 31.33 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.36 Billion in January 2021 and a positive growth of 39.22 per cent over Non-petroleum, non-gems & jewellery imports of USD 24.87 Billion in January 2020.

Table 3: Trade excluding Petroleum and Gems & Jewellery during January 2022

January 2022

(USD Billion)

 January 2021

(USD Billion)

 January 2020

(USD Billion)

 Growth vis-à-vis January 2021 (%) Growth vis-à-vis January 2020 (%)
Non- petroleum exports 30.33 25.40 22.67 19.40 33.81
Non- petroleum imports 39.97 32.61 28.14 22.57 42.02
Non-petroleum & Non Gems & Jewellery exports 27.10 22.56 19.79 20.13 36.95
Non-petroleum & Non Gems & Jewellery imports* 34.62 26.36 24.87 31.33 39.22

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during January 2022

  • Non-petroleum and non-gems & jewellery exports during April-January 2021-22 was USD 255.69 Billion, an increase of 34.95 per cent over non-petroleum and non-gems & jewellery exports of USD 189.47 Billion in April-January 2020-21 and an increase of 29.18 per cent over non-petroleum and non-gems & jewellery exports of USD 197.94 Billion in April-January 2019-20.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 298.06 Billion in April-January 2021-22, recording a positive growth of 44.77 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 205.88 Billion in April-January 2020-21 and a positive growth of 19.30 per cent over USD 249.83 Billion in April-January 2019-20.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-January 2021-22

April-January 2021-22

(USD Billion)

 April-January 2020-21

(USD Billion)

 April-January 2019-20

(USD Billion)

 Growth vis-à-vis April-January 2020-21 (%) Growth vis-à-vis April-January 2019-20 (%)
Non- petroleum exports 287.84 209.19 228.80 37.59 25.80
Non- petroleum imports 365.53 241.41 295.61 51.42 23.65
Non-petroleum & Non Gems & Jewellery exports 255.69 189.47 197.94 34.95 29.18
Non-petroleum & Non Gems & Jewellery imports* 298.06 205.88 249.83 44.77 19.30

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-January 2021-22

SERVICES TRADE

  • The estimated value of services export for January 2022* is USD 26.91 Billion, exhibiting a positive growth of 54.95 per cent vis-a-vis January 2021 (USD 17.37 Billion) and a positive growth of 46.57 per cent vis-à-vis January 2020 (USD 18.36 Billion).
  • The estimated value of services import for January 2022* is USD 15.83 Billion exhibiting a positive growth of 60.32 per cent vis-à-vis January 2021 (USD 9.88 Billion) and a positive growth of 45.33 per cent vis-à-vis January 2020 (USD 10.90 Billion).
  • The services trade balance in January 2022* is estimated at USD 11.07 Billion, which is an increase of 47.86 per cent over January 2021 (USD 7.49 Billion) and an increase of 48.38 per cent over January 2020 (USD 7.46 Billion).

Fig 7: Services Trade during January 2022*

  • The estimated value of services export for April-January 2021-22* is USD 209.83 Billion, exhibiting a positive growth of 25.31 per cent vis-a-vis April-January 2020-21 (USD 167.45 Billion) and a positive growth of 17.56 per cent vis-à-vis April-January 2019-20 (USD 178.49 Billion).
  • The estimated value of services imports for April-January 2021-22* is USD 121.16 Billion exhibiting a positive growth of 27.69 per cent vis-à-vis April-January 2020-21 (USD 94.88 Billion) and a positive growth of 12.05 per cent vis-à-vis April-January 2019-20 (USD 108.13 Billion).
  • The services trade balance for April-January 2021-22* was estimated at USD 88.67 Billion as against USD 72.57 Billion in April-January 2020-21, which is an increase of 22.19 per cent. As compared to April-January 2019-20 (USD 70.36 Billion), net of services in April-January 2021-22* exhibited a positive growth of 26.03 per cent.

Fig 8: Services Trade during April-January 2021-22*

Table 5: Export Growth in Commodity Groups in January 2022

Sl. No. Commodities (Values in Million USD) % Change
JAN'21 JAN'22 JAN'22
Commodity groups exhibiting positive growth
1 Coffee 45.85 92.25 101.22
2 Petroleum Products 2136.00 4170.02 95.23
3 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 974.54 1387.79 42.40
4 Plastic & Linoleum 638.37 843.67 32.16
5 Marine Products 424.65 549.98 29.51
6 Other cereals 92.89 118.43 27.50
7 Organic & Inorganic Chemicals 1942.16 2444.06 25.84
8 Engineering Goods 7413.15 9200.29 24.11
9 Man-made Yarn/Fabs./made-ups etc. 406.46 502.64 23.66
10 Leather & leather products 331.25 400.22 20.82
11 RMG of all Textiles 1295.91 1546.39 19.33
12 Jute Mfg. including Floor Covering 39.44 46.79 18.64
13 Meat, dairy & poultry products 298.29 347.16 16.38
14 Electronic Goods 1180.09 1362.45 15.45
15 Gems & Jewellery 2843.62 3231.47 13.64
16 Mica, Coal & Other Ores, Minerals including processed minerals 369.31 409.23 10.81
17 Cereal preparations & miscellaneous processed items 184.80 204.48 10.65
18 Rice 769.89 821.21 6.67
19 Fruits & Vegetables 228.13 235.13 3.07
20 Tobacco 64.09 64.80 1.11
Sl. No. Commodities (Values in Million USD) % Change
JAN'21 JAN'22 JAN'22
Commodity Groups exhibiting negative growth
21 Iron Ore 527.42 229.36 -56.51
22 Oil Meals 210.32 101.39 -51.79
23 Oil seeds 117.29 92.19 -21.40
24 Cashew 47.40 37.99 -19.85
25 Tea 66.79 58.41 -12.54
26 Spices 284.51 271.40 -4.61
27 Handicrafts excl. hand made carpet 179.66 175.16 -2.50
28 Ceramic products & glassware 296.68 291.35 -1.80
29 Carpet 147.03 144.54 -1.69
30 Drugs & Pharmaceuticals 2075.22 2051.41 -1.15

Table 6: Import Growth in Commodity Groups in January 2022

Sl. No. Commodities (Values in Million USD) % Change
JAN'21 JAN'22 JAN'22
Commodity Groups exhibiting positive growth
1 Silver 9.40 613.39 6425.43
2 Sulphur & Unroasted Iron Pyrites 16.63 59.98 260.67
3 Fertilisers, Crude & manufactured 594.17 1588.69 167.38
4 Newsprint 9.64 20.40 111.62
5 Pulp and Waste paper 90.21 187.47 107.82
6 Metaliferrous ores & other minerals 458.83 876.86 91.11
7  Vegetable Oil 1135.45 1855.42 63.41
8 Electronic goods 5256.61 7655.45 45.63
9 Coal, Coke & Briquettes, etc. 1865.66 2602.27 39.48
10 Leather & leather products 57.98 80.58 38.98
11 Non-ferrous metals 1349.99 1828.26 35.43
12 Organic & Inorganic Chemicals 1983.66 2670.12 34.61
13 Iron & Steel 1417.68 1810.75 27.73
14 Medicinal & Pharmaceutical products 550.32 700.85 27.35
15 Petroleum, Crude & products 9424.30 11959.42 26.90
16 Dyeing/tanning/colouring materials. 282.52 345.96 22.46
17 Machinery, electrical & non-electrical 3367.71 4031.87 19.72
18 Wood &  Wood products 482.46 563.76 16.85
19 Professional instrument, Optical goods, etc. 394.05 456.39 15.82
20 Artificial resins, plastic materials, etc. 1530.64 1759.54 14.95
21 Textile yarn Fabric, made-up articles 179.31 205.12 14.39
22 Machine tools 349.37 396.39 13.46
23 Chemical material & products 832.29 930.04 11.74
24 Project goods 164.09 182.86 11.44
25 Pearls, precious & Semi-precious stones 2196.40 2328.07 5.99
26 Pulses 211.49 218.13 3.14
Sl. No. Commodities (Values in Million USD) % Change
JAN'21 JAN'22 JAN'22
Commodity Groups exhibiting negative growth
27 Gold 4035.23 2400.09 -40.52
28 Cotton Raw & Waste 53.29 35.79 -32.84
29 Transport equipment 1751.47 1290.27 -26.33
30 Fruits & vegetables 280.57 246.21 -12.25

Table 7: MERCHANDISE TRADE

EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
JANUARY APRIL-JANUARY
EXPORTS(including re-exports)
2019-20 1,84,369.73 18,61,740.70
2020-21 2,01,330.70 17,01,350.67
2021-22 2,56,833.01 24,95,654.03
%Growth 2021-22/ 2020-21 27.57 46.69
%Growth 2021-22/ 2019-20 39.30 34.05
IMPORTS
2019-20 2,93,452.69 28,55,992.59
2020-21 3,07,279.33 22,63,536.24
2021-22 3,86,538.36 36,85,033.34
%Growth 2021-22/ 2020-21 25.79 62.80
%Growth 2021-22/ 2019-20 31.72 29.03
TRADE BALANCE
2019-20 -1,09,082.96 -9,94,251.89
2020-21 -1,05,948.63 -5,62,185.57
2021-22 -1,29,705.35 -11,89,379.31

Table 8: SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(PROVISIONAL) December 2021 April-

December 2021
EXPORTS (Receipts) 25.31 182.92
IMPORTS (Payments) 14.89 105.32
TRADE BALANCE 10.42 77.60
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL) December 2021 April-

December 2021
EXPORTS (Receipts) 1,90,737.65 13,59,035.37
IMPORTS (Payments) 1,12,237.19 7,82,638.61
TRADE BALANCE 78,500.46 5,763,96.75
Source: RBI Press Release dated 1st February 2022

Exports