Exports jump over 21% to US$ 33.44 billion in September
- IBEF
- October 4, 2021
According to preliminary government statistics, India's merchandise exports increased 21.35% year-on-year to US$ 33.44 billion in September, owing to improved performance in key sectors such as engineering goods and petroleum products.
Imports of products totalled US$ 56.38 billion in September, up 84.75% over the same month the previous year. At the same time a year earlier, it was more than US$ 30.52 billion. It's also up 49.58% from US$ 37.69 billion in September 2019.
In September, the trade deficit was US$ 22.94 billion, owing to a roughly 750% increase in gold imports to US$ 5.11 billion.
According to preliminary statistics from the Ministry of Commerce and Industry, the trade deficit, or the difference between imports and exports, was US$ 78.81 billion from April to September.
“India's goods exports in September 2021 totalled US$ 33.44 billion, up 21.35% from US$ 27.56 billion in September 2020 and 28.51% from US$ 26.02 billion in September 2019,” the report stated.
Engineering products exports totalled US$ 9.42 billion in September 2020, up 36.7% from September 2020. In September 2021, outward shipments of petroleum is estimated to be US$ 4.91 billion, up 39.32% from the previous year-ago month.
Outbound exports of 'gems and jewellery' increased by 19.71% to US$ 3.23 billion. Exports of 'drugs and pharmaceuticals,' on the other hand, declined by 8.47%.
On an annual basis, imports of 'petroleum, crude, and products' increased by over 200% to US$ 17.436 billion in September.
Imports of 'coal, coke, and briquettes' increased by 82.89% to US$ 2.18 billion in September 2021, compared to the same month the previous year.
According to the government, non-petroleum exports were US$ 28.53 billion in September, up 18.72% year over year and 26.32% higher than September 2019.
Non-petroleum imports were US$ 38.95 billion in September, up 57.73% from the same month the previous year and 36.14% from September 2019.
According to the report, non-petroleum and non-gems and jewellery exports totalled US$ 25.29 billion in September, up 18.59% year over year.
Exports totalled US$ 197.11 billion in the first half of fiscal year 2021 (April-September). This is a 56.92% increase over the previous quarter's US$ 125.61 billion and a 23.84% increase over April-September 2019.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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