India’s overall exports (Merchandise and Services) in December 2021 up by 25 percent over December 2020 to USD 57.87 Billion; overall imports grow by more than 33 percent to USD 72.35 Billion during the same period
Overall exports during April-December 2021 jump by more than 36 percent over same period in the year 2020 to USD 479.07 Billion; overall imports grew 57.33 percent to USD 547.12 Billion during the same period

India’s overall exports (Merchandise and Services combined) in December 2021* are estimated to be USD 57.87 Billion, exhibiting a positive growth of 25.05 per cent over the same period last year and a positive growth of 23.35 per cent over December 2019. Overall imports in December 2021* are estimated to be USD 72.35 Billion, exhibiting a positive growth of 33.86 per cent over the same period last year and a positive growth of 40.30 per cent over December 2019

Table 1: Trade during December 2021*

December 2021

(USD Billion)

December 2020

(USD Billion)

December 2019

(USD Billion)

Growth vis-à-vis December 2020 (%) Growth vis-à-vis December 2019 (%)
Merchandise Exports 37.81 27.22 27.11 38.91 39.47
Imports 59.48 42.93 39.59 38.55 50.24
Trade Balance -21.68 -15.72 -12.49 -37.92 -73.61
Services* Exports 20.07 19.06 19.81 5.26 1.29
Imports 12.87 11.12 11.98 15.76 7.44
Net of Services 7.20 7.95 7.84 -9.42 -8.12
Overall Trade (Merchandise+

Services)*

Exports 57.87 46.28 46.92 25.05 23.35
Imports 72.35 54.05 51.57 33.86 40.30
Trade Balance -14.48 -7.77 -4.65 -86.32 -211.26

* Note: The latest data for services sector released by RBI is for November 2021. The data for December 2021 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for 2019, 2020 and April to September 2021 are revised on pro-rata basis using quarterly balance of payments data.

India’s overall exports (Merchandise and Services combined) in April-December 2021* are estimated to be USD 479.07 Billion, exhibiting a positive growth of 36.31 per cent over the same period last year and a positive growth of 20.25 per cent over April-December 2019. Overall imports in April-December 2021* are estimated to be USD 547.12 Billion, exhibiting a positive growth of 57.33 per cent over the same period last year and a positive growth of 18.57 per cent over April-December 2019.

Table 2: Trade during April-December 2021*

April-December 2021

(USD Billion)

April-December 2020

(USD Billion)

April-December 2019

(USD Billion)

Growth vis-à-vis April-December 2020 (%) Growth vis-à-vis April-December 2019 (%)
Merchandise Exports 301.38 201.38 238.27 49.66 26.49
Imports 443.82 262.76 364.18 68.91 21.87
Trade Balance -142.44 -61.38 -125.91 -132.07 -13.13
Services* Exports 177.68 150.09 160.13 18.39 10.96
Imports 103.30 85.00 97.24 21.52 6.23
Net of Services 74.39 65.08 62.90 14.30 18.27
Overall Trade (Merchandise+

Services)*

Exports 479.07 351.47 398.41 36.31 20.25
Imports 547.12 347.76 461.42 57.33 18.57
Trade Balance -68.06 3.70 -63.01 -1937.96 -8.00

* Note: The latest data for services sector released by RBI is for November 2021. The data for December 2021 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for 2019, 2020 and April to September 2021 are revised on pro-rata basis using quarterly balance of payments data.

MERCHANDISE TRADE

  • Merchandise exports in December 2021 were USD 37.81 Billion, as compared to USD 27.22 Billion in December 2020, exhibiting a positive growth of 38.91 per cent. As compared to December 2019, exports in December 2021 exhibited a positive growth of 39.47 per cent.
  • Merchandise imports in December 2021 were USD 59.48 Billion, which is an increase of 38.55 per cent over imports of USD 42.93 Billion in December 2020. Imports in December 2021 have registered a positive growth of 50.24 per cent in comparison to December 2019.
  • The merchandise trade balance for December 2021 was estimated at USD (-)  21.68 Billion as against USD (-) 15.72 Billion in December 2020, which is a decline of (-) 37.92 per cent. As compared to December 2019 (USD (-) 12.49 Billion), trade balance in December 2021 exhibited a negative growth of (-) 73.61 per cent.

  • Merchandise exports for the period April-December 2021 was USD 301.38 Billion as against USD 201.38 Billion during the period April-December 2020, registering a positive growth of 49.66 per cent. As compared to April-December 2019, exports in April-December 2021 exhibited a positive growth of 26.49 per cent.
  • Merchandise imports for the period April-December 2021 was USD 443.82 Billion as against USD 262.76 Billion during the period April-December 2020, registering a positive growth of 68.91 per cent. Imports in April-December 2021 have registered a positive growth of 21.87 per cent in comparison to April-December 2019.
  • The merchandise trade balance for April-December 2021 was estimated at USD (-) 142.44 Billion as against USD (-) 61.38 Billion in April-December 2020, which is a decline of (-) 132.07 per cent. As compared to April-December 2019 (USD (-) 125.91 Billion), trade balance in April-December 2021 exhibited a negative growth of (-) 13.13 per cent.

  • Non-petroleum and non-gems & jewellery exports in December 2021 were USD 28.92 Billion, registering a positive growth of 29.67 per cent over non-petroleum and non-gems & jewellery exports of USD 22.30 Billion in December 2020 and a positive growth of 37.31 per cent over non-petroleum and non-gems & jewellery exports of USD 21.06 Billion in December 2019.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 35.47 Billion in December 2021 with a positive growth of 34.28 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.41 Billion in December 2020 and a positive growth of 47.32 per cent over Non-petroleum, non-gems & jewellery imports of USD 24.07 Billion in December 2019.

Table 3: Trade excluding Petroleum and Gems & Jewellery during December 2021

December 2021

(USD Billion)

December 2020

(USD Billion)

December 2019

(USD Billion)

Growth vis-à-vis December 2020 (%) Growth vis-à-vis December 2019 (%)
Non- petroleum exports 31.92 24.88 23.48 28.29 35.97
Non- petroleum imports 43.32 33.31 28.88 30.07 50.02
Non-petroleum & Non Gems & Jewellery exports 28.92 22.30 21.06 29.67 37.31
Non-petroleum & Non Gems & Jewellery imports* 35.47 26.41 24.07 34.28 47.32

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during December 2021

  • Non-petroleum and non-gems & jewellery exports during April-December 2021 was USD 228.60 Billion, an increase of 36.96 per cent over non-petroleum and non-gems & jewellery exports of USD 166.91 Billion in April-December 2020 and an increase of 28.32 per cent over non-petroleum and non-gems & jewellery exports of USD 178.15 Billion in April-December 2019.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 263.43 Billion in April-December 2021, recording a positive growth of 46.74 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 179.52 Billion in April-December 2020 and a positive growth of 17.10 per cent over USD 224.96 Billion in April-December 2019.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-December 2021

April-December 2021

(USD Billion)

April-December 2020

(USD Billion)

April-December 2019

(USD Billion)

Growth vis-à-vis April-December 2020 (%) Growth vis-à-vis April-December 2019 (%)
Non- petroleum exports 257.50 183.79 206.13 40.11 24.92
Non- petroleum imports 325.56 208.80 267.47 55.92 21.72
Non-petroleum & Non Gems & Jewellery exports 228.60 166.91 178.15 36.96 28.32
Non-petroleum & Non Gems & Jewellery imports* 263.43 179.52 224.96 46.74 17.10

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-December 2021

SERVICES TRADE

  • The estimated value of services export for December 2021* is USD 20.07 Billion, exhibiting a positive growth of 5.26 per cent vis-a-vis December 2020 (USD 19.06 Billion) and a positive growth of 1.29 per cent vis-à-vis December 2019 (USD 19.81 Billion).
  • The estimated value of services import for December 2021* is USD 12.87 Billion exhibiting a positive growth of 15.76 per cent vis-à-vis December 2020 (USD 11.12 Billion) and a positive growth of 7.44 per cent vis-à-vis December 2019 (USD 11.98 Billion).
  • The services trade balance in December 2021* is estimated at USD 7.20 Billion, which is a decline of (-) 9.42 per cent over December 2020 (USD 7.95 Billion) and a decline of (-) 8.12 per cent over December 2019 (USD 7.84 Billion).

Fig 7: Services Trade during December 2021*

  • The estimated value of services export for April-December 2021* is USD 177.68 Billion, exhibiting a positive growth of 18.39 per cent vis-a-vis April-December 2020 (USD 150.09 Billion) and a positive growth of 10.96 per cent vis-à-vis April-December 2019 (USD 160.13 Billion).
  • The estimated value of services imports for April-December 2021* is USD 103.30 Billion exhibiting a positive growth of 21.52 per cent vis-à-vis April-December 2020 (USD 85.00 Billion) and a positive growth of 6.23 per cent vis-à-vis April-December 2019 (USD 97.24 Billion).
  • The services trade balance for April-December 2021* was estimated at USD 74.39 Billion as against USD 65.08 Billion in April-December 2020, which is an increase of 14.30 per cent. As compared to April-December 2019 (USD 62.90 Billion), net of services in April-December 2021* exhibited a positive growth of 18.27 per cent.

Fig 8: Services Trade during April-December 2021*

Table 5: Export Growth in Commodity Groups in December 2021

Sl. No. Commodities (Values in Million USD) % Change
DEC’20 DEC’21 DEC’21
Commodity groups exhibiting positive growth
1 Petroleum Products 2336.63 5887.67 151.97
2 Coffee 44.00 98.47 123.80
3 Mica, Coal & Other Ores, Minerals including processed minerals 337.08 539.23 59.97
4 Plastic & Linoleum 570.49 899.85 57.73
5 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 987.76 1443.98 46.19
6 Other cereals 96.24 140.17 45.65
7 Engineering Goods 7072.63 9788.88 38.41
8 Man-made Yarn/Fabs./made-ups etc. 380.52 518.22 36.19
9 Electronic Goods 1248.33 1672.59 33.99
10 Rice 682.77 895.08 31.10
11 Marine Products 562.85 720.51 28.01
12 Organic & Inorganic Chemicals 2100.00 2664.15 26.86
13 RMG of all Textiles 1195.78 1466.43 22.63
14 Fruits & Vegetables 190.07 227.53 19.71
15 Leather & leather products 338.49 404.41 19.48
16 Meat, dairy & poultry products 335.53 396.89 18.29
17 Gems & Jewellery 2575.67 2997.44 16.38
18 Oil seeds 147.72 165.29 11.90
19 Jute Mfg. including Floor Covering 41.78 46.73 11.86
20 Handicrafts excl. handmade carpet 180.34 196.13 8.75
21 Cereal preparations & miscellaneous processed items 183.48 199.18 8.56
22 Carpet 156.08 166.14 6.45
23 Drugs & Pharmaceuticals 2203.53 2318.04 5.20
Sl. No. Commodities (Values in Million USD) % Change
DEC’20 DEC’21 DEC’21
Commodity Groups exhibiting negative growth
24 Iron Ore 382.38 54.44 -85.76
25 Oil Meals 236.75 119.67 -49.45
26 Cashew 52.29 39.09 -25.24
27 Spices 344.92 314.40 -8.85
28 Tea 74.43 68.61 -7.82
29 Ceramic products & glassware 310.62 294.23 -5.28
30 Tobacco 82.88 82.13 -0.90

Table 6: Import Growth in Commodity Groups in December 2021

Sl. No. Commodities (Values in Million USD) % Change
DEC’20 DEC’21 DEC’21
Commodity Groups exhibiting positive growth
1 Silver 10.39 232.04 2133.30
2 Sulphur & Unroasted Iron Pyrites 19.69 69.95 255.26
3 Fertilisers, Crude & manufactured 632.38 1712.03 170.73
4 Newsprint 12.07 27.18 125.19
5 Pulp and Waste paper 75.53 164.25 117.46
6 Metaliferrous ores & other minerals 429.52 857.30 99.59
7 Organic & Inorganic Chemicals 1879.88 3253.17 73.05
8 Coal, Coke & Briquettes, etc. 1624.32 2803.09 72.57
9 Cotton Raw & Waste 30.58 52.73 72.43
10 Project goods 127.03 215.58 69.71
11 Petroleum, Crude & products 9629.01 16165.97 67.89
12 Leather & leather products 50.02 76.08 52.10
13 Vegetable Oil 1210.88 1827.33 50.91
14 Dyeing/tanning/colouring materials 281.04 402.57 43.24
15 Artificial resins, plastic materials, etc. 1434.57 1970.30 37.34
16 Iron & Steel 1265.30 1722.90 36.17
17 Non-ferrous metals 1303.56 1705.32 30.82
18 Electronic goods 5037.69 6427.30 27.58
19 Fruits & vegetables 240.36 305.64 27.16
20 Textile yarn Fabric, made-up articles 180.93 229.20 26.68
21 Pearls, precious & Semi-precious stones 2397.17 2891.13 20.61
22 Machinery, electrical & non-electrical 3149.33 3796.75 20.56
23 Medicinal & Pharmaceutical products 623.44 743.89 19.32
24 Wood &  Wood products 470.32 548.23 16.57
25 Professional instrument, Optical goods, etc. 467.38 511.74 9.49
26 Chemical material & products 876.78 942.36 7.48
27 Gold 4485.76 4729.47 5.43
28 Machine tools 347.52 363.26 4.53
Sl. No. Commodities (Values in Million USD) % Change
DEC’20 DEC’21 DEC’21
Commodity Groups exhibiting negative growth
29 Pulses 294.61 189.65 -35.63
30 Transport equipment 2476.59 2306.43 -6.87

Table 7: MERCHANDISE TRADE

 EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
DECEMBER APRIL-DECEMBER
EXPORTS(including re-exports)
2019-20 1,92,984.47 16,77,370.97
2020-21 2,00,294.50 15,00,019.98
2021-22 2,84,960.74 22,38,821.02
%Growth 2021-22/ 2020-21 42.27 49.25
%Growth 2021-22/ 2019-20 47.66 33.47
IMPORTS
2019-20 2,81,880.86 25,62,539.91
2020-21 3,15,970.77 19,56,256.92
2021-22 4,48,352.86 32,98,494.98
%Growth 2021-22/ 2020-21 41.90 68.61
%Growth 2021-22/ 2019-20 59.06 28.72
TRADE BALANCE
2019-20 -88,896.39 -8,85,168.94
2020-21 -1,15,676.27 -4,56,236.94
2021-22 -1,63,392.12 -10,59,673.96

Table 8: SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(PROVISIONAL) November 2021 April-

November 2021

EXPORTS (Receipts) 20.14 157.62
IMPORTS (Payments) 12.59 90.43
TRADE BALANCE 7.55 67.19
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL) November 2021 April-

November 2021

EXPORTS (Receipts) 1,50,006.15 11,68,297.72
IMPORTS (Payments) 93,753.85 6,70,401.42
 

TRADE BALANCE

56,252.31 4,97,896.29
Source: RBI Press Release dated 4th January 2022