India’s merchandise exports in October 2020 were USD 24.82 billion, as compared to USD 26.23 billion in October 2019, showing a fall of 5.4%. Exports during April-October 2020-21 were USD 150.07 billion, exhibiting a decline of 19.05% over the same period last year.
The value of India’s merchandise imports in October 2020 was USD 33.6 billion, as compared to USD 37.99 billion in October 2019, a decline of 11.56%. Merchandise imports during April-October 2020-21 were USD 182.29 billion, as compared to USD 286.07 billion during the same period last year, exhibiting a negative growth of 36.28%.
India was thus a net importer in October 2020, with a trade deficit of USD 8.78 billion, as compared to trade deficit of USD 11.76 billion, an improvement by 25.34%.
In October 2020, the value of non-petroleum exports was USD 23.21 billion, registering a positive growth of 1.84% over October 2019. The value of non-petroleum and non-gems and jewellery exports in October 2020 was USD 20.28 billion, as compared to USD 19.07 billion in October 2019, registering a positive growth of 6.34%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-October 2020-21 was USD 124.79 billion, as compared to USD 137.72 billion for the corresponding period in 2019-20, exhibiting a decrease of 9.39%.
In October 2020, Oil imports were USD 5.98 billion, as compared to USD 9.73 billion in October 2019, a decline by 38.52%. Oil imports in April-October 2020-21 were USD 37.84 billion, as compared to USD 74.93 billion, showing a decline of 49.5%.
Non-oil imports in October 2020 were estimated at USD 27.62 billion, as compared to USD 28.26 billion in October 2019, showing a decline of 2.26%. Non-oil imports in April-October 2020-21 were USD 144.45 billion, as compared to USD 211.14 billion, registering a decline of 31.59% during the same period of the last year.
Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 22.83 billion in October 2020, recording a negative growth of 8.31%, as compared to non-oil and non-gold imports of USD 24.9 billion in October 2019. Non-oil and non-gold imports were USD 126.97 billion in April-October 2020-21, recording a negative growth of 29.28%, as compared to non-oil and non-gold imports of USD 179.55 billion in April-October 2019-20.
Major commodities of export which have recorded positive growth during October 2020 vis-à-vis October 2019 are: Other cereals (369.30%), Rice (112.15%), Oil meals (76.62%), Iron ore (73.89%), Oil seeds (54.06%), Carpet (37.67%), Cereal preparations and miscellaneous processed item (36.13%), Ceramic products and glassware (34.62%), Drugs and pharmaceuticals (21.82%), Spices (21.61%), Jute mfg. Including floor covering (18.76%), Meat, dairy and poultry products (16.65%), Handicrafts excl. Handmade carpet (11.37%), Fruits and vegetables (8.92%), Mica, coal and other ores, minerals including process (7.68%), Cotton yarn/fabrics/made-ups, handloom products etc. (6.52%), RMG of all textiles (6.31%), Tobacco (4.34%), Organic and inorganic chemicals (1.91%), Tea (0.14%).
Major commodities of export which have recorded negative growth during October 2020 vis-à-vis October 2019 are Petroleum products (53.30%), Cashew (21.57%), Gems and jewellery (21.27%), Leather and leather manufactures (16.69%), Man-made yarn/fabrics/made-ups etc. (12.82%), Electronic goods (9.40%), Coffee (9.25%), Marine products (8.09%), Plastic and linoleum (6.88%), Engineering goods (3.84%).
Major commodity groups of import showing positive growth in October 2020 over the corresponding month of last year are: Pearls, precious & Semi-precious stones (50.47%), Fertilizers, Crude & manufactured (46.25%), Gold (35.88%), Sulphur & Unroasted Iron Pyrites (32.09%), Project goods (28.75%), Fruits & vegetables (22.81%), Electronic goods (16.12%), Medcnl. & Pharmaceutical products (13.33%), Vegetable Oil (7.29%), Metaliferrous ores & other minerals (4.80%), Chemical material & products (2.00%.
Major commodity groups of import showing negative growth in October 2020 over the corresponding month of last year are: Silver (90.54%), Newsprint (79.99%), Cotton Raw & Waste (77.40%), Pulses (65.15%), Transport equipment (56.32%), Leather & leather products (41.37%), Petroleum, Crude & products (38.52%), Pulp and Waste paper (29.88%), Machine tools (29.62%), Wood & Wood products (26.51%), Textile yarn Fabric, made-up articles (25.13%), Iron & Steel (22.32%), Machinery, electrical & non-electrical (15.63%), Professional instrument, Optical goods, etc. (11.95%), Artificial resins, plastic materials, etc. (7.53%), Coal, Coke & Briquettes, etc. (6.50%), Organic & Inorganic Chemicals (2.89%), Non-ferrous metals (2.26%), Dyeing/tanning/colouring materials (0.46%).
MERCHANDISE TRADE: Preliminary Data, October 2020
Summary Value in USD Billion
| Total | Non-Petroleum | Non- Petroleum and Non-Gems &Jewellery | |||||||
| 2019-20 | 2020-21 | % change | 2019-20 | 2020-21 | % change | 2019-20 | 2020-21 | % change | |
| Exports | 26.23 | 24.82 | -5.40 | 22.79 | 23.21 | 1.84 | 19.07 | 20.28 | 6.34 |
| Imports | 37.99 | 33.60 | -11.56 | 28.26 | 27.62 | -2.26 | 24.90 | 22.83 | -8.31 |
| Deficit | 11.76 | 8.78 | -25.34 | 5.47 | 4.41 | -19.38 | 5.83 | 2.55 | -56.26 |
Change by top Commodity Groups
Value in USD Million
| Top Increase in October 2020 as compared to October 2019 | Top Decline in October 2020 as compared to October 2019 | |||||
| Commodity group | Change in value | % change | Commodity group | Change in value | % change | |
| Export | Drugs And Pharmaceuticals | 372.05 | 21.82 | Petroleum Products | -1835.58 | -53.30 |
| Rice | 359.82 | 112.15 | Gems And Jewellery | -790.40 | -21.27 | |
| Organic And Inorganic Chemicals | 143.85 | 73.89 | Leather And Leather Manufacturers | -248.07 | -3.84 | |
| Import | Electronic Goods | 768.69 | 16.12 | Petroleum, Crude & Products | -3747.66 | -38.52 |
| Pearls, Precious & Semi-Precious Stones | 768.48 | 50.47 | Transport Equipment | -1459.42 | -56.32 | |
| Gold | 660.15 | 35.88 | Machinery, Electrical & Non-Electrical | -462.62 | -15.63 | |