New Delhi: Exports in February 2021 were USD 17.55 billion (Rs. 1,27,651.28 crore) registering a negative growth of (-)1.02per cent in Dollar terms, vis-à-vis February 2020, the Reserve Bank of India stated today. The estimated value of services export for March 2021, the apex bank said, was USD 17.75 billion.
The RBI’s latest release mentioned imports in February 2021 were USD 10.61 billion (Rs. 77,216.47 crore) registering a negative growth of (-)4.10 per cent in dollar terms, vis-à-vis February 2020. The estimated value of services import for March 2021 was USD 10.84 billion.
Taking merchandise and services together, overall trade deficit for April-March 2020-21 was estimated at USD 12.74 billion as compared to the deficit of USD 77.76 billion in April-March 2019-20.
- MERCHANDISE: The trade deficit for March2021 was estimated at USD 13.93 billion as against the deficit of USD 9.98 billion in March 2020, which is an increase of 39.62 percent.
- SERVICES: The trade balance in Services (i.e. Net Services export) for February 2021 was USD 6.93 billion. The estimated trade balance in March 2021 was USD 6.91 billion.
India’s overall exports (Merchandise and Services combined) in April-March 2020-21 were estimated to be USD 493.19 billion, exhibiting a negative growth of (-)6.66per cent over the same period last year. Overall imports in April-March 2020-21 were estimated to be USD 505.94 billion, exhibiting a negative growth of (-)16.53per cent over the same period last year.
Imports in March2021 were USD48.38 billion (Rs.3,52,191.21 crore), which was an increase of 53.74 per cent in dollar terms and 50.52 per cent in rupee terms over imports of USD 31.47 billion (Rs. 2,33,988.47 crore) in March 2020.
Cumulative value of imports for the period April-March 2020-21 was USD 389.18 billion (Rs.28,76,918.30 crore), as against USD 474.71 billion (Rs.33,60,954.46 crore) during the period April-March 2019-20, registering a negative growth of (-)18.02per cent in dollar terms and a negative growth of (-)14.40per cent in rupee terms.
Major commodity groups of import showing negative growth in March2021 over the corresponding month of last year were:
Oil imports inMarch 2021 were USD 10.27 billion (Rs. 74,768.22 crore), which was 2.23 per cent higher in dollar terms (0.08 per cent higher in rupee terms), compared to USD 10.05 billion (Rs. 74,704.86Crore) in March2020. Oil imports in April-March 2020-21 were USD 82.35 billion (Rs.6,08,881.25 crore) which was 36.92per cent lower in dollar terms (34.19 per cent lower in rupee terms) compared to USD 130.55 billion (Rs. 9,25,167.52 crore), over the same period last year.
Non-oil imports in March 2021 were estimated at USD 38.11 billion (Rs. 2,77,422.99 crore) which was 77.90 per cent higher in dollar terms (74.17 per cent higher in rupee terms), compared to USD 21.42 billion (Rs. 1,59,283.61 crore) in March 2020. Non-oil imports in April-March 2020-21 were USD 306.83 billion (Rs. 22,68,037.05 crore) which was 10.85 per cent lower in dollar terms (6.89 per cent lower in rupee terms), compared to USD 344.16 billion (Rs. 24,35,786.93 crore) in April-March 2019-20.
