External merchandise trade statistics for June 2021
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The Census and Statistics Department (C&SD) released today (July 26) the external merchandise trade statistics for June 2021. In June 2021, the values of Hong Kong’s total exports and imports of goods both recorded year-on-year increases, at 33.0% and 31.9% respectively.
In June 2021, the value of total exports of goods increased by 33.0% over a year earlier to $406.6 billion, after a year-on-year increase of 24.0% in May 2021. Concurrently, the value of imports of goods increased by 31.9% over a year earlier to $447.1 billion in June 2021, after a year-on-year increase of 26.5% in May 2021. A visible trade deficit of $40.5 billion, equivalent to 9.0% of the value of imports of goods, was recorded in June 2021.
For the first half of 2021 as a whole, the value of total exports of goods increased by 30.0% over the same period in 2020. Concurrently, the value of imports of goods increased by 26.8%. A visible trade deficit of $165.6 billion, equivalent to 6.7% of the value of imports of goods, was recorded in the first half of 2021.
Comparing the second quarter of 2021 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods decreased by 1.9%. Meanwhile, the value of imports of goods increased by 1.7%.
Analysis by country/territory
Comparing June 2021 with June 2020, total exports to Asia as a whole grew by 35.6%. In this region, increases were registered in the values of total exports to most major destinations, in particular Korea (+64.1%), Taiwan (+46.1%), the mainland of China (the Mainland) (+36.6%), the Philippines (+31.9%) and Malaysia (+31.2%).
Apart from destinations in Asia, increases were registered in the values of total exports to some major destinations in other regions, in particular the USA (+19.2%).
Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular India (+68.3%), Korea (+59.3%), Singapore (+55.1%), the USA (+42.7%) and Taiwan (+41.8%). The value of imports from the Mainland also increased by 32.0%. However, a decrease was recorded in the value of imports from Malaysia (-6.4%).
For the first half of 2021 as a whole, year-on-year increases were registered in the values of total exports to most major destinations, in particular the United Kingdom (+119.7%), Taiwan (+43.2%), India (+35.1%), the Mainland (+33.3%) and Korea (+32.8%).
Over the same period of comparison, year-on-year increases were registered in the values of imports from most major suppliers, in particular India (+60.2%), Taiwan (+42.5%), Singapore (+37.8%), Korea (+35.4%) and the Mainland (+27.4%). However, a decrease was recorded in the value of imports from Malaysia (-1.1%).
Analysis by major commodity
Comparing June 2021 with June 2020, increases were registered in the values of total exports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $59.9 billion or 44.6%), “office machines and automatic data processing machines” (by $8.9 billion or 25.4%), “miscellaneous manufactured articles (mainly jewellery, goldsmiths’ and silversmiths’ wares)” (by $6.5 billion or 44.1%), “telecommunications and sound recording and reproducing apparatus and equipment” (by $5.9 billion or 11.4%) and “non-metallic mineral manufactures” (by $5.4 billion or 66.4%).
Over the same period of comparison, increases were registered in the values of imports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $54.4 billion or 37.2%), “office machines and automatic data processing machines” (by $10.6 billion or 36.4%), “miscellaneous manufactured articles (mainly jewellery, goldsmiths’ and silversmiths’ wares)” (by $9.1 billion or 59.0%), “telecommunications and sound recording and reproducing apparatus and equipment” (by $7.7 billion or 14.4%) and “non-metallic mineral manufactures” (by $5.4 billion or 66.0%).
For the first half of 2021 as a whole, year-on-year increases were registered in the values of total exports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $289.6 billion or 38.3%), “telecommunications and sound recording and reproducing apparatus and equipment” (by $62.9 billion or 21.9%), “office machines and automatic data processing machines” (by $40.6 billion or 20.2%), “non-metallic mineral manufactures” (by $31.9 billion or 64.6%) and “miscellaneous manufactured articles (mainly jewellery, goldsmiths’ and silversmiths’ wares)” (by $31.2 billion or 39.1%). However, a year-on-year decrease was registered in the value of total exports of “power generating machinery and equipment” (by $2.2 billion or -5.0%).
Over the same period of comparison, year-on-year increases were registered in the values of imports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $268.6 billion or 33.1%), “telecommunications and sound recording and reproducing apparatus and equipment” (by $73.3 billion or 26.4%), “miscellaneous manufactured articles (mainly jewellery, goldsmiths’ and silversmiths’ wares)” (by $37.8 billion or 37.8%) and “office machines and automatic data processing machines” (by $35.0 billion or 21.9%). However, a year-on-year decrease was registered in the value of imports of “power generating machinery and equipment” (by $8.8 billion or -16.5%).
Commentary
A Government spokesman said that the value of merchandise exports continued to grow strongly in June over a year earlier. Exports to the Mainland, the US and the EU all accelerated in growth, while those to other Asian markets also expanded by varying degrees. For the first half of 2021 combined, total merchandise trade value amounted to $4,748.6 billion, surpassing the high in the same period in 2018 by 13.0%.
Looking ahead, the improved external environment should continue to support Hong Kong’s export performance in the near term. Yet, the recent surge of COVID-19 mutant infections may hinder the pace of economic recovery in some major markets. Developments of China-US relations and geopolitical tensions also warrant attention. The Government will monitor the situation closely.
Further information
Table 1 presents the analysis of external merchandise trade statistics for June 2021. Table 2 presents the original monthly trade statistics from January 2018 to June 2021, and Table 3 gives the seasonally adjusted series for the same period.
The values of total exports of goods to 10 main destinations for June 2021 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for June 2021.
All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for June 2021 will be released in mid-August 2021.
The June 2021 issue of “Hong Kong External Merchandise Trade” contains detailed analysis on the performance of Hong Kong’s external merchandise trade in June 2021 and will be available in mid-August 2021. Users can download the publication at the website of the C&SD (www.censtatd.gov.hk/en/scode230.html).
Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section (2) of the C&SD (Tel: 2582 5042).
Jul 2, 2021 | Business
India’s merchandise exports in June 2021 was USD 32.46 billion, an increase of 47.34% over USD 22.03 billion in June 2020 and an increase of 29.7% over USD 25.03 billion in June 2019. India’s merchandise exports in Apr-June 2021 was USD 95.36 billion, an increase of 85.36% over USD 51.44 billion in Apr-June 2020 and anincrease of17.85% over USD 80.91 billion in Apr-June 2019.
India’s merchandise imports in June 2021 was USD 41.86 billion, an increase of 96.33% over USD 21.32 billion in June 2020 and an increase of 2.03% over USD 41.03 billion in June 2019. India’s merchandise imports in Apr-June 2021 was USD 126.14 billion, an increase of 107.99% over USD 60.65 billion in Apr-June 2020 and a decrease of 3.05% over USD 130.1 billion in Apr-June 2019.
India is thus a net importer in June 2021 with a trade deficit of USD 9.4 billion, widened by 1426.6% over trade surplus of USD 0.71 billion in June 2020 (India was net exporter in June 2020) and narrowed down by 41.26% over trade deficit of USD 16.0 billion in June 2019.
In June 2021, the value of non-petroleum exports was USD 28.51 billion, registering a positive growth of 41.8%over USD 20.11 billion in June 2020 and a positive growth of 27.33% over USD 22.39 billion in June 2019.
The cumulative value of non-petroleum exports in April-June 2021 was USD 82.45 billion, an increase of 76.76% over USD 46.65 billion in April-June 2020 and an increase of 18.13% over USD 69.8 billion in April-June 2019.
The value of non-petroleum and non-gems and jewellery exports in June 2021 was USD 25.69 billion,registering a positive growth of 38.53% over USD 18.54 billion in June 2020 and a positive growth of 33.61% over USD 19.23 billion in June 2019.
The cumulative value of non-petroleum and non-gems and jewellery exports in April-June 2021 was USD 73.28 billion, an increase of 66.61% over USD 43.98 billion in April-June 2020 and an increase of 21.46% over USD 60.33 billion in April-June 2019.
In June 2021, Oil imports was USD 10.68 billion, a positive growth of 114.92% compared to USD 4.97 billion in June 2020 and a negative growth of 4.72 compared to USD 11.21 billion in June 2019.
Oil imports during Apr-June 2021was USD 31.0 billion, a positive growth of 136.36% compared to USD 13.12 billion in Apr-June 2020 and a negative growth of 12.33 compared to USD 35.36 billion in Apr-June 2019.
Non-oil imports in June 2021 was USD 31.19 billion, showing an increase of 90.68% compared to USD 16.36 billion in June 2020 and anincrease of 4.56% compared to USD 29.83 billion in June 2019.
Non-oil imports in Apr-June 2021 was estimated at USD 95.14 billion, showing an increase of 100.16% compared to USD 47.53 billion in Apr-June 2020 and amarginalincrease of 0.42% compared to USD 94.74 billion in Apr-June 2019.
Non-oil, non-GJ (Gold, Silver & Precious Metals) imports was USD 27.63 billion in June 2021, recording a positive growth of 84.53%, as compared to non-oil and non-GJ imports of USD 14.98 billion in June 2020 and a positive growth of 12.51% over USD 24.56 billion in June 2019.
Non-oil, non-GJ (Gold, Silver & Precious Metals) imports was USD 79.92 billion in Apr-June 2021, recording a positive growth of 76.63%, as compared to non-oil and non-GJ imports of USD 45.25 billion in Apr-June 2020 and a positive growth of 4.78% over USD 76.28 billion in Apr-June 2019.
Major commodity groups of export showing positive growth in June 2021 over June 2019 are: Other cereals (299.29%), Iron ore (134.46%), Organic and Inorganic Chemicals (62.41%), Cereal preparations and miscellaneous processed item (56.63%), Oil meals (53.99%), Cotton yarn/fabrics/made-ups, handloom products etc. (50.86%), Petroleum products (49.82%), Plastic and linoleum (46.84%), Rice (43.82%), Engineering goods (41.66%), Carpet (25.15%), Jute mfg. Including floor covering (23.97%), Man-made yarn/fabrics/made-ups etc. (23.66%), Mica, coal and other ores, minerals including process (22.43%), Ceramic products and glassware (21.81%), Marine products (20.71%), Fruits and vegetables (20.38%), Meat, dairy and poultry products (19.92%), Handicrafts excl. Hand-made carpet (18.83%), Coffee (15.73%), Tobacco (12.95%), Electronic Goods (11.89%), Drugs and pharmaceuticals (9.9%), Spices (8.7%), and Oil Seeds (1.24%).
Only 5 major commodity groups of export showing negative growth in June 2021 over June 2019. These are: Cashew (-44.86%), Tea (-25.08%), Leather and leather manufactures (-21.0%), RMG of All Textiles (-18.76%), and Gems and Jewellery (-10.76%).
Major commodity groups of import showing positive growth in June 2021 over June 2019 are: Sulphur & Unroasted Iron Pyrites (270.96%), Medicinal& Pharmaceutical products (132.19%), Vegetable Oil (118.87%), Pulses (110.75%), Professional instrument, Optical goods, etc. (70.88%), Metaliferrous ores & other minerals (56.5%), Chemical material & products 56.48%), Fertilisers, Crude & manufactured (37.28%), Fruits & vegetables (30.35%), Organic & Inorganic Chemicals (30.09%), Non-ferrous metals (28.19%), Pearls, precious & Semi-precious stones (19.54%), Pulp and Waste paper (17.08%), Artificial resins, plastic materials, etc. (12.3%), Wood & Wood products (8.26%), Machine tools (6.87%), Dyeing/tanning/colouring materials (3.85%), Machinery, electrical & non-electrical (2.55%), and Iron & Steel (0.66%).
Major commodity groups of import showing negative growth in June 2021 over June 2019 are: Silver (-97.16%), Gold (-64.04%), Project Goods (-53.69%), Cotton Raw & Waste (-51.03%), Newsprint (-45.05%), Transport equipment (-22.47%), Leather & leather products (-18.43%), Coal, Coke & Briquettes, etc. (-12.56%), Textile yarn Fabric, made-up articles (-9.66%), Petroleum, Crude & products (-4.72%), and Electronic goods (-3.4%).
MERCHANDISE TRADE: Preliminary Data, June 2021
Summary Value in USD Billion
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Total
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Non-Petroleum
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Non- Petroleum and Non-Gems &Jewellery
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JUN19
|
JUN20
|
JUN21
|
% change Jun21 over Jun20
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% change Jun21 over Jun19
|
JUN19
|
JUN20
|
JUN21
|
% change Jun21 over Jun20
|
% change Jun21 over Jun19
|
JUN19
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JUN20
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JUN21
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% change Jun21 over Jun20
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% change Jun21 over Jun19
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Exports
|
25.03
|
22.03
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32.46
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47.34
|
29.70
|
22.39
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20.11
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28.51
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41.80
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27.33
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19.23
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18.54
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25.69
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38.53
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33.61
|
Imports
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41.03
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21.32
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41.86
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96.33
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2.03
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29.83
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16.36
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31.19
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90.68
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4.56
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24.56
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14.98
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27.63
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84.53
|
12.51
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Deficit/Surplus
|
16.00
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-0.71
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9.40
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-1426.56
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-41.26
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7.44
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-3.75
|
2.68
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-171.36
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-64.01
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5.34
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-3.57
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1.95
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-154.60
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-63.51
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Change by top Commodity Groups in Export Value in USD Million
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Top Increase
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Top Decline
|
|
Commodity group
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Change (USD Million)
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% change
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Commodity group
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Change (USD Million)
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% change
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EXPORT (JUN ’21 OVER JUN’20)
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ENGINEERING GOODS
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3201.01
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52.61
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OIL SEEDS
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-38.13
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-32.75
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PETROLEUM PRODUCTS
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2025.69
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105.20
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SPICES
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-29.23
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-8.41
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GEMS AND JEWELLERY
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1259.59
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80.49
|
TEA
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-12.10
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-18.57
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EXPORT (JUN ’20 OVER JUN’19)
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ORGANIC AND INORGANIC CHEMICALS
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317.71
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19.33
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GEMS AND JEWELLERY
|
-1600.07
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-50.56
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DRUGS AND PHARMACEUTICALS
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181.80
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9.90
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PETROLEUM PRODUCTS
|
-711.75
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-26.99
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RICE
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165.47
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32.11
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ENGINEERING GOODS
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-470.65
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-7.18
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EXPORT (JUN ’21 OVER JUN’19)
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ENGINEERING GOODS
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2730.36
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41.66
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GEMS AND JEWELLERY
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-340.48
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-10.76
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PETROLEUM PRODUCTS
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1313.94
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49.82
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RMG OF ALL TEXTILES
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-231.28
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-18.76
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ORGANIC AND INORGANIC CHEMICALS
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1025.72
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62.41
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LEATHER AND LEATHER MANUFACTURERS
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-86.39
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-21.00
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Change by top Commodity Groups in Import Value in USD Million
|
Top Increase
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Top Decline
|
|
Commodity group
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Change (USD Million)
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% change
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Commodity group
|
Change (USD Million)
|
% change
|
IMPORT (JUN ’21 OVER JUN’20)
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Petroleum, Crude & products
|
5708.67
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114.92
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Silver
|
-125.49
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-91.38
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Pearls, precious & Semi-precious stones
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1936.90
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305.09
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Project goods
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-10.79
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-12.49
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Electronic goods
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1434.84
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45.30
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ALL OTHER MAJOR COMMODITY GROUPS HAVE INCREASED
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IMPORT (JUN ’20 OVER JUN’19)
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Vegetable Oil
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54.72
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8.37
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Petroleum, Crude & products
|
-6237.48
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-55.67
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Sulphur & Unroasted Iron Pyrites
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1.87
|
25.45
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Gold
|
-2088.1
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-77.43
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ALL OTHER MAJOR COMMODITY GROUPS HAVE DECLINED
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Electronic goods
|
-1596.84
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-33.52
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IMPORT (JUN ’21 OVER JUN’19)
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Vegetable Oil
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776.97
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118.87
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Gold
|
-1726.93
|
-64.04
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Medicinal. & Pharmaceutical products
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704.79
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132.19
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Petroleum, Crude & products
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-528.81
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-4.72
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Organic & Inorganic Chemicals
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567.10
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30.09
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Silver
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-405.11
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-97.16
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