INDIA’S FOREIGN TRADE SHINING in April 2022 Too

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By PIB Delhi

  • After a record performance in the last financial year, the exports continued robust growth in April, 2022 with merchandise exports scaling a new high by crossing USD 40 bn. This is an increase by over 30% vis-à-vis April 2021. Petroleum products (127.69%), Electronic goods (71.69%), cereals (60.83%), coffee (59.38%), processed food (38.82%) and leather product (36.68%) exports led the way in achieving the record performance. Services performed extremely well to reach USD 27.60 bn, which is an increase of 53% over April 2021.
  • India’s overall exports (Merchandise and Services combined) in April 2022* are estimated to be USD 67.79 Billion, exhibiting a positive growth of 38.90 per cent over the same period last year. Overall imports in April 2022* are estimated to be USD 75.87 Billion, exhibiting a positive growth of 36.31 per cent over the same period last year

Table 1: Trade during April 2022*

  April 2022(USD Billion)April 2021(USD Billion)Growth vis-à-vis April 2021 (%)
MerchandiseExports40.1930.7530.70
Imports60.3046.0430.97
Trade Balance-20.11-15.29-31.50
Services*Exports27.6018.0652.87
Imports15.579.6261.87
Net of Services12.038.4442.61
Overall Trade (Merchandise+Services)*Exports67.7948.8038.90
Imports75.8755.6636.31
Trade Balance-8.08-6.86-17.83

* Note: The latest data for services sector released by RBI is for March 2022. The data for April 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during April 2022*

MERCHANDISE TRADE

  • Merchandise exports in April 2022 were USD 40.19 Billion, as compared to USD 30.75 Billion in April 2021, exhibiting a positive growth of 30.70 per cent.
  • Merchandise imports in April 2022 were USD 60.30 Billion, which is an increase of 30.97 per cent over imports of USD 46.04 Billion in April 2021.
  • The merchandise trade deficit in April 2022 was estimated at USD 20.11 Billion as against USD 15.29 Billion in April 2021, which is an increase of 31.50 per cent.

Fig 2: Merchandise Trade during April 2022

  • Non-petroleum and non-gems & jewellery exports in April 2022 were USD 28.46 Billion, registering a positive growth of 19.89 per cent over non-petroleum and non-gems & jewellery exports of USD 23.74 Billion in April 2021.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 35.68 Billion in April 2022 with a positive growth of 34.37 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.55 Billion in April 2021.

Table 2: Trade excluding Petroleum and Gems & Jewellery during April 2022

 April 2022(USD Billion)April 2021(USD Billion)Growth vis-à-vis April 2021 (%)
Non- petroleum exports31.9327.1217.74
Non- petroleum imports40.1135.2713.70
Non-petroleum & Non Gems & Jewellery exports28.4623.7419.89
Non-petroleum & Non Gems & Jewellery imports*35.6826.5534.37

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

Fig 3: Trade excluding Petroleum and Gems & Jewellery during April 2022

SERVICES TRADE

  • The estimated value of services export for April 2022* is USD 27.60 Billion, exhibiting a positive growth of 52.87 per cent vis-a-vis April 2021 (USD 18.06 Billion).
  • The estimated value of services import for April 2022* is USD 15.57 Billion exhibiting a positive growth of 61.87 per cent vis-à-vis April 2021 (USD 9.62 Billion)
  • The services trade balance in April 2022* is estimated at USD 12.03 Billion, which is an increase of 42.61 per cent over April 2021 (USD 8.44 Billion).

Fig 4: Services Trade during April 2022*

Table 3: Export Growth in Commodity Groups in April 2022

Sl. No.Commodities(Values in Million USD)% Change
APR’21APR’22APR’22
 Commodity groups exhibiting positive growth
1Petroleum Products3625.668255.39127.69
2Electronic Goods978.431679.8271.69
3Other cereals55.9690.0060.83
4Coffee71.46113.9059.38
5Cereal preparations & miscellaneous processed items165.38229.5838.82
6Leather & leather products289.65395.9036.68
7Tobacco73.0198.6335.10
8Organic & Inorganic Chemicals2025.592679.9232.30
9Mica, Coal & Other Ores, Minerals including processed minerals392.53489.9024.81
10Jute Mfg. including Floor Covering37.1245.5622.73
11Engineering Goods7974.069725.9221.97
12RMG of all Textiles1297.681575.8621.44
13Oil seeds96.47115.5219.74
14Marine Products550.05634.2815.31
15Meat, dairy & poultry products345.31383.9611.19
16Fruits & Vegetables257.75285.0310.58
17Drugs & Pharmaceuticals1892.582072.269.49
18Plastic & Linoleum727.90797.009.49
19Cotton Yarn/Fabs./made-ups, Handloom Products etc.1065.201158.088.72
20Ceramic products & glassware286.31310.468.43
21Man-made Yarn/Fabs./made-ups etc.424.52458.598.02
22Gems & Jewellery3379.143467.712.62
Sl. No.Commodities(Values in Million USD)% Change
APR’21APR’22APR’22
 Commodity Groups exhibiting negative growth
23Iron Ore635.55418.48-34.16
24Cashew49.7132.76-34.10
25Handicrafts excl. handmade carpet158.42118.85-24.98
26Spices401.09319.32-20.39
27Oil Meals120.52101.64-15.66
28Rice895.60810.66-9.48
29Carpet129.92125.02-3.77
30Tea49.7349.22-1.03

Table 4: Import Growth in Commodity Groups in April 2022

Sl. No.Commodities(Values in Million USD)% Change
APR’21APR’22APR’22
 Commodity Groups exhibiting positive growth
1Silver11.90109.50820.04
2Fertilisers, Crude & manufactured376.841202.98219.23
3Sulphur & Unroasted Iron Pyrites18.5858.73216.08
4Coal, Coke & Briquettes, etc.2004.564937.85146.33
5Petroleum, Crude & products10764.8420188.0687.54
6Pulses55.0799.1480.01
7Cotton Raw & Waste33.3652.5957.64
8Leather & leather products53.5983.6456.08
9Organic & Inorganic Chemicals2244.193420.9052.43
10Non-ferrous metals1316.791870.9042.08
11 Vegetable Oil1289.131746.2735.46
12Textile yarn Fabric, made-up articles145.87197.3535.29
13Pulp and Waste paper93.54126.0534.75
14Electronic goods5058.856722.3732.88
15Iron & Steel1181.081492.3626.36
16Dyeing/tanning/colouring materials293.09367.2325.30
17Metaliferrous ores & other minerals631.59768.0621.61
18Professional instrument, Optical goods, etc.461.77543.9817.80
19Chemical material & products891.541037.0616.32
20Project goods103.40119.4615.54
21Artificial resins, plastic materials, etc.1779.472019.6113.50
22Wood &  Wood products505.20572.8413.39
23Machinery, electrical & non-electrical3054.643416.3911.84
24Fruits & vegetables216.36240.1511.00
25Newsprint23.1724.857.26
26Pearls, precious & Semi-precious stones2470.742594.345.00
27Medicinal & Pharmaceutical products681.31710.984.35
28Machine tools315.51328.954.26
Sl. No.Commodities(Values in Million USD)% Change
APR’21APR’22APR’22
 Commodity Groups exhibiting negative growth
29Gold6238.361724.86-72.35
30Transport equipment1861.981467.09-21.21

Table 5: MERCHANDISE TRADE

EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
 APRIL
EXPORTS(including re-exports) 
2021-222,28,980.61
2022-233,06,094.76
%Growth 2022-23/2021-2233.68
IMPORTS 
2021-223,42,864.34
2022-234,59,260.03
%Growth 2022-23/2021-2233.95
TRADE BALANCE 
2021-22-1,13,883.73
2022-23-1,53,165.27

Table 6: SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion) 
(PROVISIONAL)March  2022April- March 2021-22
EXPORTS (Receipts)26.88254.36
IMPORTS (Payments)15.33146.95
TRADE BALANCE11.55107.40
   
EXPORTS & IMPORTS (SERVICES): (Rs. Crore) 
(PROVISIONAL)March  2022April-March 2021-22
EXPORTS (Receipts)2,04,960.4618,96,918.81
IMPORTS (Payments)1,16,867.5710,96,031.56
TRADE BALANCE88,092.908,00,887.25
Source: RBI Press Release dated 2nd May 2022

About Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and public poll winner. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Feng Sui 25 years in the digital & IT industry with Global MNCs' worked & traveled in USA, UK, Europe, Singapore, Australia, Bangladesh & many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certification from Global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary West Bengal State Committee of All Indian Reporter’s Association
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