India's merchandise exports to grow 51% in April-Dec 2021 period: Exim Bank
- IBEF
- December 14, 2021
The total value of shipments is expected to reach US$ 303.98 billion, with non-oil exports accounting for US$ 258.78 billion, up 41% YoY.
According to estimates by the Export-import Bank of India, there is an expected 51% growth of around US$ 303.98 billion in nine months ending 2021 over the same period in 2020.
The increase in India's exports can be linked to the advanced nations' ongoing growth momentum and the resulting increase in global import demand, as well as favorable global commodity prices.
For the second quarter in a row, total merchandise exports may surpass US$ 100 billion, reaching US$ 105.8 billion between October-December 2021, up from US$ 75.8 billion between October-December 2020. Non-oil exports are likely to reach US$ 89.1 billion in the third quarter of FY 2022, up from $US 7.3 billion in October-December 2020, according to the bank.
The forecasts are based on India Exim Bank’s Export Leading Index (ELI) model, which has shown an upward movement during the same quarter.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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