Feb 03: India’s merchandise exports in January 2021 were USD 27.24 billion as compared to USD 25.85 billion in January 2020, an increase of 5.37%. Where as India’s merchandise imports in January 2021 were USD 41.99 billion as compared to USD 41.15 billion in January 2020, an increment of 2.05%.
Hence India becomes a net importer in January 2021 with a trade deficit of USD 14.75 billion, as compared to trade deficit of USD 15.30 billion in January 2020, declined by 3.57%.
Value of Products
Value of non-petroleum and non-gems and jewellery exports in January 2021 was USD 22.40 billion as compared to USD 19.79 billion in January 2020, a positive growth of 13.21%.
Non-oil, non-GJ (gold, silver & Precious metals) imports were USD 26.35 billion in January 2021, as compared to non-oil and non-GJ imports of USD 24.87 billion in January 2020, also a positive growth of 5.94%.
Top 5 commodity groups of export which recorded positive growth during January 2021 vis-à-vis January 2020 are: Other Cereals (313.88%), Oil meals (253.06%), Iron Ore (108.66%), Cereal preparations and miscellaneous processed item(43.62%), and Jute manufacturing including floor covering(27.64%).
Top 5 commodity groups of import showing a fall in January 2021vis-à-vis January 2020: Silver (-95.77%), Newsprint (-80.81%), Project Good (-62.16), Leather & leather products (-37.73%), and Petroleum, Crude & products (-27.72).