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Business Economy


Exports fall 0.25 pc to USD27.6 bln in February, Trade deficit widens

New Delhi, Mar 2 (UNI) India’s merchandise exports fell 0.25 per cent in February to USD 27.67 billion as compared to USD 27.74 billion in the corresponding period last year, preliminary data released by government on Tuesday showed.

Exports during April-February2020-21 were USD 255.92 billion, as compared to USD 291.87 billion during the same period last year, exhibiting a negative growth of 12.32 per cent.
Merchandise imports in February 2021 were USD 40.55 billion, as compared to USD 37.90 billion in February 2020, an increase of 6.98 per cent. Merchandise imports during April-February 2020-21 period were USD 340.88 billion, as compared to USD 443.24 billion during the same period of last year, exhibiting a negative growth of 23.09 per cent.
India is thus a net importer in February 2021, with a trade deficit of USD 12.88 billion, as compared to trade deficit of USD 10.16 billion in February 2020, improvement by 26.74 per cent, the data showed.
In February 2021, the value of non-petroleum exports was USD 25.16 billion, registering a positive growth of 3.55 per cent over February 2020. The value of non-petroleum and non-gems and jewellery exports in February 2021 was USD 22.48 billion as compared to USD 21.28 billion in February 2020, registering a positive growth of 5.65 per cent.
The cumulative value of non-petroleum and non-gems and jewellery exports in April-February 2020-21 was USD 211.25 billion, as compared to USD 219.22 billion for the corresponding period in 2019-20, exhibiting a decrease of 3.63 per cent.
In February 2021, Oil imports were USD 8.99 billion, as compared to USD 10.78 billion in February 2020, a decline by 16.63 per cent. Oil imports in April-February2020-21 were USD 72.08 billion, as compared to USD 120.50 billion, showing a decline of 40.18 per cent.
Non-oil imports in February 2021 were estimated at USD 31.56 billion, as compared to USD 27.12 billion in February 2020, showing an increase of 16.37 per cent. Non-oil imports in April-February 2020-21 were USD 268.78 billion, as compared to USD 322.74 billion, registering a decline of 16.73 per cent during the same period of the last year.
Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 23.85 billion in February 2021, recording a positive growth of 7.40 per cent, as compared to non-oil and non-GJ imports of USD 22.21 billion in February 2020. Non-oil and non-GJ imports were USD 225.49 billion in April-February 2020-21, recording a negative growth of 17.11 per cent, as compared to non-oil and non-GJ imports of USD 272.05 billion in April-February 2019-20.
Major commodities of export which have recorded positive growth during February 2021 vis-à-vis February 2020 are: Other cereals (542.06.62 per cent), Oil meals (244.12 per cent), Iron ore (167.79 per cent), Jute manufacturing including floor covering (45.4 per cent), Rice (30.1 per cent), Cereal preparations and miscellaneous processed item (26.68 per cent), Meat, dairy and poultry products (26.43 per cent), Carpet (19.4 per cent, Spices (18.46 cper cent), Drugs and pharmaceuticals (14.58 per cent), Handicrafts excluding Hand-made carpet (13.14 per cent), Ceramic products and glassware (10.8 per cent), Cotton yarn/fabrics/made-ups, handloom products etc. (9.34 per cent), Tobacco (7.69 per cent), Plastic and linoleum (3.03 per cent), Mica, coal and other ores, minerals including process (2.33 per cent), and Organic and Inorganic Chemicals (1.16 per cent).
Major commodities of export which have recorded negative growth during February this year vis-à-vis February last year are Petroleum products, Oil Seeds, Leather and leather manufactures, Cashew, Gems and Jewellery, RMG of All Textiles, Electronic Goods, Fruits and vegetables, Man-made yarn/fabrics/made-ups etc, Engineering goods, Tea,Coffee, and Marine products.
Major commodity groups of import showing positive growth in February 2021 over the corresponding month of last year are: Sulphur & Unroasted Iron Pyrites, Gold , Dyeing/tanning/colouring materials, Chemical material & products, Electronic goods, Organic & Inorganic Chemicals, Metaliferrous ores & other minerals, Artificial resins, plastic materials, etc., Iron & Steel, Textile yarn Fabric, made-up articles, Wood & Wood products, Medicinal & Pharmaceutical products, and Non-ferrous metals.
Major commodity groups of import showing negative growth in February 2021 over the corresponding month of last year are: Silver, Newsprint, Fertilisers, Crude & manufactured, Coal, Coke & Briquettes, etc., Leather & leather products, Transport equipment, Petroleum, Crude & product, Project Goods, Pulses, Machine tools, Cotton Raw & Waste, Machinery, electrical & non-electrical, Professional instrument, Optical goods, etc, Pulp and Waste paper, Pearls, precious & Semi-precious stones, Fruits & vegetables, and Vegetable Oil.
UNI SRJ SHK1806
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