Ministry of Commerce & Industry
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India’s overall exports (Merchandise and Services) grow by 23% in June; Exports growth in 1st quarter over 25%;

Petroleum products, Electronic Goods, Textiles, Cereals, Leather products, Rice, Minerals, oil seeds, coffee and Gems & Jewellery record high exports growth during June

INDIA’S FOREIGN TRADE: June 2022

Posted On: 14 JUL 2022 4:05PM by PIB Delhi

India’s overall exports (Merchandise and Services combined) in June 2022* are estimated to be USD 64.91 Billion, exhibiting a positive growth of 22.95 per cent over the same period last year. The overall exports (Merchandise and Services combined) in the 1st quarter of FY 22-23 (April-June 2022)* are estimated to be USD 189.93 Billion, exhibiting a positive growth of 25.16 per cent over the same period last.

The overall imports in June 2022* are estimated to be USD 82.42 Billion, exhibiting a positive growth of 55.72 per cent over the same period last year. In the 1st quarter of the FY22-23, the overall exports are estimated to be USD 235.11 Billion, exhibiting a positive growth of 49.41 per cent over the same period last year.

Table 1: Trade during June 2022*

 

 

June 2022

(USD Billion)

June 2021

(USD Billion)

Growth vis-à-vis June 2021 (%)

Merchandise

Exports

40.13

32.49

23.52

Imports

66.31

42.09

57.55

Trade Balance

-26.18

-9.60

-172.72

Services*

Exports

24.77

20.30

22.04

Imports

16.11

10.84

48.62

Net of Services

8.67

9.46

-8.41

Overall Trade (Merchandise+

Services) *

Exports

64.91

52.79

22.95

Imports

82.42

52.93

55.72

Trade Balance

-17.51

-0.14

-12596.34

* Note: The latest data for services sector released by RBI is for May 2022. The data for June 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-June 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during June 2022*

 

Table 2: Trade during April-June 2022*

 

 

 

April-June 2022

(USD Billion)

April-June 2021

(USD Billion)

Growth vis-à-vis April-June 2021 (%)

Merchandise

Exports

118.96

95.54

24.51

Imports

189.76

126.96

49.47

Trade Balance

-70.80

-31.42

-125.34

Services*

Exports

70.97

56.22

26.25

Imports

45.35

30.41

49.15

Net of Services

25.62

25.81

-0.74

Overall Trade (Merchandise+

Services) *

Exports

189.93

151.75

25.16

Imports

235.11

157.37

49.41

Trade Balance

-45.18

-5.61

-705.12

* Note: The latest data for services sector released by RBI is for May 2022. The data for June 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-June 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 2: Overall Trade during April-June 2022*

MERCHANDISE TRADE

  • Merchandise exports in June 2022 were USD 40.13 Billion, as compared to USD 32.49 Billion in June 2021, exhibiting a positive growth of 23.52 per cent.
  • Merchandise imports in June 2022 were USD 66.31 Billion, which is an increase of 57.55 per cent over imports of USD 42.09 Billion in June 2021.
  • The merchandise trade deficit in June 2022 was estimated at USD 26.18 Billion as against USD 9.60 Billion in June 2021, which is an increase of 172.72 per cent.

Fig 3: Merchandise Trade during June 2022

  • Merchandise exports for the period April-June 2022 were USD 118.96 Billion as against USD 95.54 Billion during the period April-June 2021, registering a positive growth of 24.51 per cent.
  • Merchandise imports for the period April-June 2022 were USD 189.76 Billion as against USD 126.96 Billion during the period April-June 2021, registering a positive growth of 49.47 per cent.
  • The merchandise trade deficit for April-June 2022 was estimated at USD 70.80 Billion as against USD 31.42 Billion in April-June 2021, which is an increase of 125.34 per cent.

Fig 4: Merchandise Trade during April-June 2022

  • Non-petroleum and non-gems & jewellery exports in June 2022 were USD 27.94 Billion, registering a positive growth of 8.65 per cent over non-petroleum and non-gems & jewellery exports of USD 25.71 Billion in June 2021.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 38.53 Billion in June 2022 with a positive growth of 38.30 per cent over Non-petroleum, non-gems & jewellery imports of USD 27.86 Billion in June 2021.

Table 3: Trade excluding Petroleum and Gems & Jewellery during June 2022

 

June 2022

(USD Billion)

June 2021

(USD Billion)

Growth vis-à-vis June 2021 (%)

Non- petroleum exports

31.48

28.54

10.30

Non- petroleum imports

45.01

31.41

43.30

Non-petroleum & Non Gems & Jewellery exports

27.94

25.71

8.65

Non-petroleum & Non Gems & Jewellery imports

38.53

27.86

38.30

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

 

Fig 5: Trade excluding Petroleum and Gems & Jewellery during June 2022

  • Non-petroleum and non-gems & jewellery exports during April-June 2022 was USD 83.62 Billion, an increase of 13.81 per cent over non-petroleum and non-gems & jewellery exports of USD 73.47 Billion in April-June 2021.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 108.97 Billion in April-June 2022, recording a positive growth of 34.80 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 80.83 Billion in April-June 2021.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-June 2022

 

April-June 2022

(USD Billion)

April-June 2021

(USD Billion)

Growth vis-à-vis April-June 2021 (%)

Non- petroleum exports

93.85

82.65

13.56

Non- petroleum imports

129.12

96.04

34.43

Non-petroleum & Non Gems & Jewellery exports

83.62

73.47

13.81

Non-petroleum & Non Gems & Jewellery imports

108.97

80.83

34.80

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

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-June 2022

SERVICES TRADE

  • The estimated value of services export for June 2022* is USD 24.77 Billion, exhibiting a positive growth of 22.04 per cent vis-a-vis June 2021 (USD 20.30 Billion).
  • The estimated value of services import for June 2022* is USD 16.11 Billion exhibiting a positive growth of 48.62 per cent vis-à-vis June 2021 (USD 10.84 Billion).
  • The services trade balance in June 2022* is estimated at USD 8.67 Billion, which is a decline of          8.41 per cent over June 2021 (USD 9.46 Billion).

Fig 7: Services Trade during June 2022*

 

  • The estimated value of services export for April-June 2022* is USD 70.97 Billion, exhibiting a positive growth of 26.25 per cent vis-a-vis April-June 2021 (USD 56.22 Billion).
  • The estimated value of services imports for April-June 2022* is USD 45.35 Billion exhibiting a positive growth of 49.15 per cent vis-à-vis April-June 2021 (USD 30.41 Billion).
  • The services trade balance for April-June 2022* is estimated at USD 25.62 Billion as against USD 25.81 Billion in April-June 2021, which is a decline of 0.74 per cent.

Fig 8: Services Trade during April-June 2022*

 

Table 5: Export Growth in Commodity Groups in June 2022

Sl. No.

Commodities

(Values in Million USD)

% Change

JUN'21

JUN'22

JUN'22

 

Commodity groups exhibiting positive growth

1

Petroleum Products

3952.25

8656.68

119.03

2

Other cereals

88.32

153.99

74.35

3

Electronic Goods

1043.10

1676.24

60.70

4

RMG of all Textiles

1001.81

1500.91

49.82

5

Rice

742.70

1061.37

42.91

6

Leather & leather products

325.00

450.42

38.59

7

Oil seeds

78.30

101.54

29.68

8

Mica, Coal & Other Ores, Minerals including processed minerals

380.61

492.07

29.28

9

Cereal preparations & miscellaneous processed items

198.90

254.53

27.97

10

Coffee

85.54

108.18

26.47

11

Gems & Jewellery

2824.44

3538.67

25.29

12

Oil Meals

110.18

134.34

21.93

13

Jute Mfg. including Floor Covering

34.22

41.72

21.92

14

Tea

53.06

64.05

20.71

15

Meat, dairy & poultry products

329.61

386.41

17.23

16

Ceramic products & glassware

292.42

332.36

13.66

17

Marine Products

645.66

724.54

12.22

18

Organic & Inorganic Chemicals

2666.23

2917.85

9.44

19

Tobacco

95.05

100.84

6.09

20

Drugs & Pharmaceuticals

2021.42

2119.08

4.83

21

Engineering Goods

9295.58

9576.26

3.02

22

Spices

318.69

326.03

2.30

23

Fruits & Vegetables

206.05

206.72

0.33

24

Man-made Yarn/Fabs./made-ups etc.

448.92

450.00

0.24

Sl. No.

Commodities

(Values in Million USD)

% Change

JUN'21

JUN'22

JUN'22

 

Commodity Groups exhibiting negative growth

25

Iron Ore

509.65

11.16

-97.81

26

Handicrafts excl. handmade carpet

162.64

115.99

-28.68

27

Plastic & Linoleum

979.51

783.48

-20.01

28

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

1194.50

961.73

-19.49

29

Carpet

143.00

130.17

-8.97

30

Cashew

24.53

23.09

-5.87

 

Table 6: Import Growth in Commodity Groups in June 2022

Sl. No.

Commodities

(Values in Million USD)

% Change

JUN'21

JUN'22

JUN'22

 

Commodity Groups exhibiting positive growth

1

Silver

11.83

785.52

6540.07

2

Coal, Coke & Briquettes, etc.

1875.60

6762.58

260.56

3

Gold

969.02

2740.50

182.81

4

Petroleum, Crude & products

10678.42

21300.85

99.48

5

Cotton Raw & Waste

68.79

125.66

82.67

6

Textile yarn Fabric, made-up articles

146.61

257.60

75.70

7

Sulphur & Unroasted Iron Pyrts

27.22

47.17

73.29

8

Metaliferrous ores & other minerals

553.97

922.50

66.53

9

Artificial resins, plastic materials, etc.

1464.98

2253.90

53.85

10

Organic & Inorganic Chemicals

2454.65

3511.73

43.06

11

Leather & leather products

71.48

98.41

37.67

12

Electronic goods

4600.54

6108.12

32.77

13

Pulp and Waste paper

118.54

154.37

30.23

14

Newsprint

35.86

46.62

30.01

15

 Vegetable Oil

1435.43

1816.07

26.52

16

Project goods

75.01

94.02

25.34

17

Fertilisers, Crude & manufactured

1039.06

1297.17

24.84

18

Dyeing/tanning/colouring mtrls.

288.83

356.95

23.58

19

Fruits & vegetables

201.66

240.41

19.22

20

Machinery, electrical & non-electrical

3179.83

3783.26

18.98

21

Wood &  Wood products

564.53

670.69

18.81

22

Iron & Steel

1357.17

1580.78

16.48

23

Pearls, precious & Semi-precious stones

2571.76

2957.02

14.98

24

Chemical material & products

1017.95

1147.55

12.73

25

Non-ferrous metals

1457.19

1638.00

12.41

Sl. No.

Commodities

(Values in Million USD)

% Change

JUN'21

JUN'22

JUN'22

 

Commodity Groups exhibiting negative growth

26

Pulses

138.12

72.25

-47.69

27

Medicinal & Pharmaceutical products

1245.86

711.87

-42.86

28

Professional instrument, Optical goods, etc.

717.00

576.67

-19.57

29

Machine tools

373.29

360.99

-3.30

30

Transport equipment

1410.29

1387.78

-1.60


 

Table 7: MERCHANDISE TRADE

 

EXPORTS & IMPORTS: (Rs. Crore)

(PROVISIONAL)

 

JUNE

APRIL-JUNE

EXPORTS (including re-exports)

 

 

2021-22

2,38,996.21

7,04,624.72

2022-23

3,13,342.50

9,18,217.77

%Growth 2022-23/2021-22

31.11

30.31

IMPORTS

 

 

2021-22

3,09,605.31

9,36,954.02

2022-23

5,17,727.41

14,65,271.90

%Growth 2022-23/2021-22

67.22

56.39

TRADE BALANCE

 

 

2021-22

-70,609.10

-2,32,329.30

2022-23

-2,04,384.91

-5,47,054.13

 

Table 8: SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

(PROVISIONAL)

May 2022

April-May 2022

EXPORTS (Receipts)

23.61

46.20

IMPORTS (Payments)

15.20

29.25

TRADE BALANCE

8.41

16.95

 

 

 

EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

(PROVISIONAL)

May 2022

April-May 2022

EXPORTS (Receipts)

1,82,519.94

3,54,613.47

IMPORTS (Payments)

1,17,486.68

2,24,517.67

TRADE BALANCE

65,033.26

1,30,095.80

Source: RBI Press Release dated 1st July 2022

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