India’s merchandise exports rise by 16.8% to USD 37.9 billion in June, 2022, recording the highest ever exports in June 2022.

Jul 4, 2022 | Business


   INDIA’S MERCHANDISE TRADE: Preliminary Data of June 2022


India has achieved a monthly value of merchandise export in June 2022 amounting USD 37.94 billion, an increase of 16.78% over USD 32.49 billion in June 2021. India’s merchandise export in April -June 2022-23 was USD 116.77 billion with an increase of 22.22% over USD 95.54 billion in April -June 2021-22.


Value of non-petroleum exports in June 2022 was 30.12 USD billion, registering a positive growth of 5.53% over non-petroleum exports of USD 28.54 billion in June 2021. The cumulative value of non-petroleum exports in April -June 2022-23 was USD 92.49 billion, an increase of 11.92% over USD 82.65 billion in April -June 2021-22.


Value of non-petroleum and non-gems and jewellery exports in June 2022 was USD 26.75 billion, registering a positive growth of 4.0% over non-petroleum and non-gems and jewellery exports of USD 25.72 billion in June 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -June 2022–23 was USD 82.43 billion, an increase of 12.19% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 73.47 billion in April -June 2021–22.


Petroleum products (98.01%), Electronic goods (50.66%) and RMG of all Textiles (44.67%) led the way in high increase in exports during June 2022.


India’s merchandise import in June 2022 was USD 63.58 billion, an increase of 51.02% over USD 42.1 billion in June 2021. India’s merchandise imports in April -June 2022-23 was USD 187.02 billion with an increase of 47.31% over USD 126.96 billion in April -June 2021-22.


Value of non-petroleum imports was USD 42.84 billion in June 2022 with a positive growth of 36.36% over non-petroleum imports of USD 31.42 billion in June 2021. The cumulative value of non-petroleum imports in April -June 2022–23 was USD 126.95 billion, showing an increase of 32.18% compared to non-oil imports of USD 96.04 billion in April -June 2021–22.


Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 36.7 billion in June 2022 with a positive growth of 31.71% over non-oil and non-GJ imports of USD 27.87 billion in June 2021. Non-oil, non-GJ (Gold, Silver & Precious Metals) imports in April -June 2022-23 was USD 107.14 billion, recording a positive growth of 32.55%, as compared to non-oil and non-GJ imports of USD 80.83 billion in April -June 2021-22.


The trade deficit in June 2022 was USD 25.63 billion, while it was 70.25 billion USD during April -June 2022-23.












Statement 1: India’s Total Trade in Merchandise goods in June 2022

Value in Billion USD

% Growth

JUNE’22

JUNE’21

JUNE’22 vs JUNE’21

Exports

37.94

32.49

16.78

Imports

63.58

42.10

51.02

Deficit

25.63

9.61

–














Statement 2: India’s Total Trade in Merchandise goods in April-June 2022-23

Value in Billion USD

% Growth

APR’22-JUNE’22

APR’21-JUNE’21

APR-JUNE 2022-23 vs APR-JUNE 2021-22

Exports

116.77

95.54

22.22

Imports

187.02

126.96

47.31

Deficit

70.25

31.42

–











Statement 3: Merchandise Non-POL Trade in June 2022

Value in Billion USD

% Growth

JUNE’22

JUNE’21

JUNE’22 vs JUNE’21

Exports

30.12

28.54

5.53

Imports

42.84

31.42

36.36













Statement 4: Merchandise Non-POL Trade in April-June 2022-23

Value in Billion USD

% Growth

APR’22-JUNE’22

APR’21-JUNE’21

APR-JUNE 2022-23 vs APR-JUNE 2021-22

Exports

92.49

82.65

11.92

Imports

126.95

96.04

32.18











Statement 5: Merchandise Non-POL Non-GJ Trade in June 2022

Value in Billion USD

% Growth

JUNE’22

JUNE’21

JUNE’22 vs JUNE’21

Exports

26.75

25.72

4.00

Imports

36.70

27.87

31.71













Statement 6: Merchandise Non-POL Non-GJ Trade in April-June 2022-23

Value in Billion USD

% Growth

APR’22-JUNE’22

APR’21-JUNE’21

APR-JUNE 2022-23 vs APR-JUNE 2021-22

Exports

82.43

73.47

12.19

Imports

107.14

80.83

32.55




Top 10 major commodity groups covering 81% of total exports in June 2022, are –






















Statement 7: Exports of Top 10 Major Commodity Groups in June 2022

Value of Export (Million US$)

Share (%)

Growth (%)

Major Commodity Group

June-22

June-21

June-22

June-22 over June-21

Engineering goods

9149.59

9295.06

24.11

-1.57

Petroleum products

7826.60

3952.68

20.63

98.01

Gems and Jewellery

3372.57

2824.44

8.89

19.41

Organic and Inorganic chemicals

2799.82

2666.32

7.38

5.01

Drugs and Pharmaceuticals

1995.75

2021.42

5.26

-1.27

Electronic goods

1571.58

1043.10

4.14

50.66

RMG of all Textiles

1449.31

1001.81

3.82

44.67

Rice

1034.64

742.70

2.73

39.31

  1. Yarn/Fabs./Madeups, Handloom products etc.

925.24

1194.50

2.44

-22.54

Plastic and Linoleum

752.01

979.52

1.98

-23.23

Total of 10 Major Commodity Groups

30877.10

25721.55

81.37

20.04

Rest

7067.37

6771.45

18.63

4.37

Total Exports

37944.48

32493.00

100.00

16.78




Top 10 major commodity groups covering 80% of total imports in June 2022, are –






















Statement 8: Imports of Top 10 Major Commodity Groups in June 2022

Value of Import (Million US$)

Share (%)

Growth (%)

Major Commodity Group

June-22

June-21

June-22

June-22 over June-21

Petroleum, Crude & products

20734.03

10678.42

32.61

94.17

Coal, Coke & Briquettes, etc.

6411.09

1875.60

10.08

241.81

Electronic goods

5838.62

4601.61

9.18

26.88

Machinery, electrical & non-electrical

3628.93

3181.17

5.71

14.08

Organic & Inorganic Chemicals

3357.29

2454.65

5.28

36.77

Pearls, precious & Semi-precious stones

2748.48

2571.76

4.32

6.87

Gold

2611.02

969.02

4.11

169.45

Artificial resins, plastic materials, etc.

2157.09

1470.42

3.39

46.70

Vegetable Oil

1754.26

1435.43

2.76

22.21

Non-ferrous metals

1532.75

1457.19

2.41

5.19

Total of 10 Major Commodity Groups

50773.56

30695.27

79.86

65.41

Rest

12803.04

11402.99

20.14

12.28

Total Imports

63576.59

42098.26

100.00

51.02




Top 10 major commodity groups covering 81% of total exports in April 2021-June 2022, are –






















Statement 9: Exports of Top 10 Major Commodity Groups in April 2021-June 2022

Value of Export (Million US$)

Share (%)

Growth (%)

Major Commodity Group

Apr’22-June’22

Apr’21-June’21

Apr’21-June’22

Apr’21-June’22 over Apr’20-June’21

Engineering goods

28543.85

25893.29

24.44

10.24

Petroleum products

24274.78

12891.19

20.79

88.31

Gems and Jewellery

10065.96

9171.76

8.62

9.75

Organic and Inorganic chemicals

8040.39

6874.75

6.89

16.96

Drugs and Pharmaceuticals

6131.39

5788.82

5.25

5.92

Electronic goods

4643.86

2968.18

3.98

56.45

RMG of all Textiles

4439.44

3406.49

3.80

30.32

  1. Yarn/Fabs./Madeups, Handloom products etc.

3124.41

3365.75

2.68

-7.17

Rice

2696.53

2412.21

2.31

11.79

Plastic and Linoleum

2314.73

2571.20

1.98

-9.97

Total of 10 Major Commodity Groups

94275.35

75343.65

80.74

25.13

Rest

22492.49

20193.27

19.26

11.39

Total Exports

116767.85

95536.92

100.00

22.22






Top 10 major commodity groups covering 80% of total imports in April 2021-June 2022, are –






















Statement 10: Imports of Top 10 Major Commodity Groups in April 2021-June 2022

Value of Import (Million US$)

Share (%)

Growth (%)

Major Commodity Group

Apr’22-June’22

Apr’21-June’21

Apr’21-June’22

Apr’21-June’22 over Apr’20-June’21

Petroleum, Crude & products

60073.94

30912.22

32.12

94.34

Electronic goods

18239.58

13899.16

9.75

31.23

Coal, Coke & Briquettes, etc.

16764.21

5872.42

8.96

185.47

Gold

10360.93

7885.05

5.54

31.40

Machinery, electrical & non-electrical

10349.91

9213.38

5.53

12.34

Organic & Inorganic Chemicals

9980.74

7005.18

5.34

42.48

Pearls, precious & Semi-precious stones

8111.15

7287.54

4.34

11.30

Artificial resins, plastic materials, etc.

6254.73

4895.20

3.34

27.77

Vegetable Oil

5188.22

4157.39

2.77

24.79

Non-ferrous metals

5035.32

4036.95

2.69

24.73

Total of 10 Major Commodity Groups

150358.73

95164.50

80.40

58.00

Rest

36663.95

31792.60

19.60

15.32

Total Imports

187022.67

126957.10

100.00

47.31




******


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The exports of Shallots reach an all-time high with a growth of 487% since 2013

Feb 15, 2022 | Business


India’s export of Shallots sees a boom with a growth of 487% since 2013. Exports rose from USD 2 Million in April-December 2013 to USD 11.6 Million in April-December 2021. 


Major export destinations during April-December 2021 were Sri Lanka (35.9%), Malaysia (29.4%), Thailand (12%), U Arab E (7.5%) & Singapore (5.8%). 


छोटे प्याज के निर्यात में हुई ऐतिहासिक वृद्धि,

किसानों को मिल रहा उपज का पूरा लाभ। pic.twitter.com/B6XLRrcUa4

— Piyush Goyal (@PiyushGoyal) February 10, 2022

India’s export of Pineapple also rose by almost 100% to USD 3.26 Million during April-December 2021 compared to USD 1.63 Million during April-December 2013. 


Major export destinations for Pineapple during April-December 2021 were U A E (32.2%), Nepal (22.7%), Qatar (16.6%), Maldives (13.2%) & U S A (7.1%). 


Local goes Global को मिली नई उड़ान

भारत के अनानास के निर्यात में हुई दोगुनी वृद्धि। pic.twitter.com/McW6nx5R8X

— Piyush Goyal (@PiyushGoyal) February 9, 2022

India has been seeing consistent growth in exports. It may be noted that India’s merchandise export in January 2022 increased by 23.69% to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75% over USD 25.85 billion in January 2020. 


India’s merchandise export in 2021-22 (April-January) rose by 46.53% to USD 335.44 billion over USD 228.9 billion in 2020-21 (April-January); marking an increase of 27.0% over USD 264.13 billion in 2019-20 (April-January). 


The government has been taking up a number of proactive steps to boost exports.  An export monitoring desk has been set up to help remove impediments, constraints and bottlenecks faced by the export sector, especially during the pandemic. 


Various Acts under the Department of Commerce are being reviewed to remove redundancies and outdated provisions. 


Several bilateral trade agreements are being pursued with great vigour. The government is committed towards developing each district in India as an export hub through initiatives such as One District One Product (ODOP). Innovative measures such as use of payload carrying drones to address first and last mile connectivity issues are being taken. 


Efforts are being made for reducing compliance burden through rationalization and decriminalization and several initiatives are being undertaken to improve the ease of doing business. 


Support is also being extended to exporters through various exporters-oriented schemes. 


The Government is also working on enhancing value of branding of Indian exports to improve India’s global standing as a reliable supplier and proactive steps are being undertaken to align the nation with the global value chain. 


An IT based platform for providing exporters licensing and addressing their grievances is also in the works. 


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Exports target of USD 650 Billion within the current financial year achievable: Shri Piyush Goyal

Jan 17, 2022 | Business


The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today said the exports target of USD 650 Billion within the current financial year is achievable. Chairing a Review Meeting of all major Export Promotion Councils (EPCs), Shri Goyal said the $400 Bn target of Merchandise exports is within sight and the Services sector should strive for $250 Bn exports.


Expressing his satisfaction that India achieved $300 Bn Merchandise exports in the first nine months of the current FY (April-Dec, 2022), Shri Goyal assured the EPCs that his Ministry will do whatever it takes in handholding the EPCs and resolving their issues to attain even higher export targets in the next FY.


Shri Goyal said we can set a much higher goods exports target in the current last quarter of this FY. “In December alone we touched $37 Bn goods exports despite the Omicron fear factor weighing high. This month, in 15 days till January 15th, we have reached $16 Bn.”


Shri Goyal said the Prime Minister Shri Narendra Modi has himself set the pace by setting “transformational results” and not “incremental growth”.


The Commerce & Industry Minister urged the EPCs and entrepreneurs to avail of the Government’s initiatives towards Ease of Doing Business such as obtaining clearances through the National Single Window System. He assured the Industry representatives to pursue their demands during the various FTA negotiations.


Speaking of the government’s efforts to improve the ease of living and the ease of doing business, Shri Goyal said that more than 25,000 compliances have been reduced.


The Minister assured that the government is willing to listen to new ideas, engage with industry at every level and work as an enabler, facilitator and partner.


***


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Revival of Exports

Dec 11, 2021 | Business


There are signs of revival of exports of the country. India’s overall exports (merchandise and services) has increased by 39.74% in 2021-22 (April-October) as compared to the corresponding period of previous year.


In order to boost India’s exports, the Government has taken several measures which include:


  1. The mid-term review (2017) of the Foreign Trade Policy (2015-20) was carried out and corrective measures were undertaken.

  2. Foreign Trade Policy (2015-20) extended by one year i.e. upto 31-3-2022 due to the COVID-19 pandemic situation.

  3. Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme. 

  4. A Central Sector Scheme –‘Transport and Marketing Assistance for Specified Agriculture Products’–for providing assistance for the international component of freight to mitigate the freight disadvantage for the export of agriculture products.

  5. Remission of Duties and Taxes on Exported Products (RoDTEP) scheme and Rebate of State and Central Levies and Taxes (RoSCTL) Scheme have been launched with effect from 01.01.2021.

  6. Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.

  7. Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.

  8. Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district.

  9. Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.

  10. Package announced in light of the Covidpandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports.


This information was given by the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel, in a written reply in the Rajya Sabha today.


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