Jul 16: Merchandise exports in June 2021 were USD 32.50 Billion, as compared to USD 21.91 Billion in June 2020, exhibiting a positive growth of 48.34%. Indian engineering exports were on their upward journey in June 2021 following the trend of the last two months. India’s engineering goods exports registered a growth of 52.4% during the month of June 2021 as compared to the same period last year. With reference to June 2019, the growth witnessed (in June 2021) was 41.9%.
Engineering exports which stood at USD 6274.9 Million in June 2019 and USD 5841.6 in June 2020 rose to USD 8903.5 million in June 2021. Cumulative engineering exports during April-June 2021-22 were to the tune of USD 24772.6 million, witnessing a massive growth of 82% vis-a-vis April-June 2020-21, and growth of 24.8% vis-a-vis April-June 2019-20.
The panels which registered a significant growth of exports during April-June 2021 vis-a-vis April-June 2019 were Copper and products (250.4%); Iron and Steel (156.6%); Zinc and products (83.7%); Aluminium and products (69.9%); Tin and products (55.2%); Two and Three-wheeler(46.6%); Lead and products (43.4%); Other non-ferrous Metals (33.1%); Industrial Machinery for dairy, food processing, textiles (32%); IC Engines and Parts (22.1%); and Auto components/parts (18.8%). It is observed that, overall, the total exports (in the panels registering positive growth) rose from USD 13.72 Billion in April-June 2019 to USD 19.85 Million April-June 2021 (44.7%).
Among the panels witnessing negative growth during April-June 2021 (vis-a-vis April-June 2019) included industrial machinery like boilers, parts, etc(-37.5%); Nickel and products (-53.3%); Air condition and refrigerator (-22.1%); motor vehicles/cars (-21.8%); Aircraft and spacecraft parts and products (-29%); ships boats and floating products and parts (-23.2%) and other engineering products relating to railway transport; prime mica and mica products; and office equipment etc. It is observed that, overall, in value terms, the aggregate exports in these panels fell from USD 6.12 Billion in April-June 2019 to USD 4.73 Billion April-June 2021 (- 22.7%).
The automobile sector (comprising of Motor Vehicles/Cars, Two and Three wheelers and also Auto components/parts) registered a growth of 1.7% in the first quarter of the current year vis-à-vis the same period of 2019-2020. With reference to the first quarter of 2020-21, the growth in exports in the current year in the sector is seen to be 195%. This is primarily due to a sharp jump in exports of Two and Three Wheelers (by 279%); Motor Vehicles/Cars (by 159%); and Auto components/parts (by 204%).Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.