India's trade deficit at $13.87B; Exports up 45.17% to $33.14B in August

India’s merchandise imports in April-August 2021 was USD 219.54 billion, an increase of 81.75% over USD 120.79 billion in April-August 2020 and a marginal increase of 4.35% over USD 210.39 billion in April-August 2019.

Sep 03, 2021 10:09 IST India Infoline News Service

According to the Ministry of Commerce & Industry data released on Thursday, India’s merchandise imports in August 2021 was USD 47.01 billion, up 51.47% over USD 31.03 billion in August 2020 and an increase of 17.95% over USD 39.85 billion in August 2019. Further, merchandise exports soared 45.17% to $33.14 billion in August 2021 compared to $22.83 billion in the same month last year over robust demand from other countries. 

The trade deficit in August 2021 was USD 13.87 billion in compared to the trade deficit of USD 8.2 billion in August 2020, while it is USD 55.9 billion during April-August 2021 as compared to USD 22.7 billion during the same period of the previous year.

India’s merchandise imports in April-August 2021 was USD 219.54 billion, an increase of 81.75% over USD 120.79 billion in April-August 2020 and a marginal increase of 4.35% over USD 210.39 billion in April-August 2019.

Value of non-petroleum exports in August 2021 was 28.58USD billion, registering a positive growth of 36.57% over non-petroleum exports of USD 20.93 billion in August 2020 and a positive growth of 25.44% over non-petroleum exports of USD 22.78 billion in August 2019.

Value of non-petroleum imports was USD 35.37 billion in August 2021 with a positive growth of 43.88% over non-petroleum imports of USD 24.58 billion in August 2020 and had a positive growth of 22.58% only over non-petroleum imports of USD 28.85 billion in August 2019.

Value of non-petroleum and non-gems and jewellery exports in August 2021 was USD 25.15 billion, registering a positive growth of 31.66% over non-petroleum and non-gems and jewellery exports of USD 19.1 billion in August 2020 and a positive growth of 28.53% over non-petroleum and non-gems and jewellery exports of USD 19.57 billion in August 2019.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 26.36 billion in August 2021 with a positive growth of 33.97%over non-oil and non-GJ imports of USD 19.68 billion in August 2020but had a marginal positive growth of 2.63% over non-oil and non-GJ imports of USD 25.69 billion in August 2019.

Ms. Aditi Nayar, Chief Economist, ICRA said, “With merchandise imports continuing to scale up, even as exports receded from their all-time high, the trade deficit widened to a higher than anticipated US$13.9 billion in August 2021, marking a four month high. We expect the current account to record a modest deficit of US$4-6 billion in the ongoing quarter. With growing apprehensions related to the spread of the Delta variant, as well as logistical challenges, both oil and non oil exports eased in August 2021 relative to the previous month.”

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