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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 (%) Merchandise Exports 40.19 30.75 30.70 Imports 60.30 46.04 30.97 Trade Balance -20.11 -15.29 -31.50 Services* Exports 27.60 18.06 52.87 Imports 15.57 9.62 61.87 Net of Services 12.03 8.44 42.61 Overall Trade (Merchandise+Services)* Exports 67.79 48.80 38.90 Imports 75.87 55.66 36.31 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 exports 31.93 27.12 17.74 Non- petroleum imports 40.11 35.27 13.70 Non-petroleum & Non Gems & Jewellery exports 28.46 23.74 19.89 Non-petroleum & Non Gems & Jewellery imports* 35.68 26.55 34.37
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 2022Sl. No. Commodities (Values in Million USD) % Change APR’21 APR’22 APR’22 Commodity groups exhibiting positive growth 1 Petroleum Products 3625.66 8255.39 127.69 2 Electronic Goods 978.43 1679.82 71.69 3 Other cereals 55.96 90.00 60.83 4 Coffee 71.46 113.90 59.38 5 Cereal preparations & miscellaneous processed items 165.38 229.58 38.82 6 Leather & leather products 289.65 395.90 36.68 7 Tobacco 73.01 98.63 35.10 8 Organic & Inorganic Chemicals 2025.59 2679.92 32.30 9 Mica, Coal & Other Ores, Minerals including processed minerals 392.53 489.90 24.81 10 Jute Mfg. including Floor Covering 37.12 45.56 22.73 11 Engineering Goods 7974.06 9725.92 21.97 12 RMG of all Textiles 1297.68 1575.86 21.44 13 Oil seeds 96.47 115.52 19.74 14 Marine Products 550.05 634.28 15.31 15 Meat, dairy & poultry products 345.31 383.96 11.19 16 Fruits & Vegetables 257.75 285.03 10.58 17 Drugs & Pharmaceuticals 1892.58 2072.26 9.49 18 Plastic & Linoleum 727.90 797.00 9.49 19 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 1065.20 1158.08 8.72 20 Ceramic products & glassware 286.31 310.46 8.43 21 Man-made Yarn/Fabs./made-ups etc. 424.52 458.59 8.02 22 Gems & Jewellery 3379.14 3467.71 2.62 Sl. No. Commodities (Values in Million USD) % Change APR’21 APR’22 APR’22 Commodity Groups exhibiting negative growth 23 Iron Ore 635.55 418.48 -34.16 24 Cashew 49.71 32.76 -34.10 25 Handicrafts excl. handmade carpet 158.42 118.85 -24.98 26 Spices 401.09 319.32 -20.39 27 Oil Meals 120.52 101.64 -15.66 28 Rice 895.60 810.66 -9.48 29 Carpet 129.92 125.02 -3.77 30 Tea 49.73 49.22 -1.03
Table 4: Import Growth in Commodity Groups in April 2022Sl. No. Commodities (Values in Million USD) % Change APR’21 APR’22 APR’22 Commodity Groups exhibiting positive growth 1 Silver 11.90 109.50 820.04 2 Fertilisers, Crude & manufactured 376.84 1202.98 219.23 3 Sulphur & Unroasted Iron Pyrites 18.58 58.73 216.08 4 Coal, Coke & Briquettes, etc. 2004.56 4937.85 146.33 5 Petroleum, Crude & products 10764.84 20188.06 87.54 6 Pulses 55.07 99.14 80.01 7 Cotton Raw & Waste 33.36 52.59 57.64 8 Leather & leather products 53.59 83.64 56.08 9 Organic & Inorganic Chemicals 2244.19 3420.90 52.43 10 Non-ferrous metals 1316.79 1870.90 42.08 11 Vegetable Oil 1289.13 1746.27 35.46 12 Textile yarn Fabric, made-up articles 145.87 197.35 35.29 13 Pulp and Waste paper 93.54 126.05 34.75 14 Electronic goods 5058.85 6722.37 32.88 15 Iron & Steel 1181.08 1492.36 26.36 16 Dyeing/tanning/colouring materials 293.09 367.23 25.30 17 Metaliferrous ores & other minerals 631.59 768.06 21.61 18 Professional instrument, Optical goods, etc. 461.77 543.98 17.80 19 Chemical material & products 891.54 1037.06 16.32 20 Project goods 103.40 119.46 15.54 21 Artificial resins, plastic materials, etc. 1779.47 2019.61 13.50 22 Wood & Wood products 505.20 572.84 13.39 23 Machinery, electrical & non-electrical 3054.64 3416.39 11.84 24 Fruits & vegetables 216.36 240.15 11.00 25 Newsprint 23.17 24.85 7.26 26 Pearls, precious & Semi-precious stones 2470.74 2594.34 5.00 27 Medicinal & Pharmaceutical products 681.31 710.98 4.35 28 Machine tools 315.51 328.95 4.26 Sl. No. Commodities (Values in Million USD) % Change APR’21 APR’22 APR’22 Commodity Groups exhibiting negative growth 29 Gold 6238.36 1724.86 -72.35 30 Transport equipment 1861.98 1467.09 -21.21
Table 5: MERCHANDISE TRADEEXPORTS & IMPORTS: (Rs. Crore) (PROVISIONAL) APRIL EXPORTS(including re-exports) 2021-22 2,28,980.61 2022-23 3,06,094.76 %Growth 2022-23/2021-22 33.68 IMPORTS 2021-22 3,42,864.34 2022-23 4,59,260.03 %Growth 2022-23/2021-22 33.95 TRADE BALANCE 2021-22 -1,13,883.73 2022-23 -1,53,165.27
Table 6: SERVICES TRADEEXPORTS & IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) March 2022 April- March 2021-22 EXPORTS (Receipts) 26.88 254.36 IMPORTS (Payments) 15.33 146.95 TRADE BALANCE 11.55 107.40 EXPORTS & IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) March 2022 April-March 2021-22 EXPORTS (Receipts) 2,04,960.46 18,96,918.81 IMPORTS (Payments) 1,16,867.57 10,96,031.56 TRADE BALANCE 88,092.90 8,00,887.25 Source: RBI Press Release dated 2nd May 2022
