|
|
|
August exports up over 45%, imports 51%
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 02 Sep, 2021
India's merchandise exports in August 2021 rose to $33.14 billion,
higher by 45.17 per cent on a year-on-year basis, preliminary data
showed on Thursday.
Exports in August 2020 stood at $22.83 billion.
Besides,
the data furnished by the Ministry of Commerce and Industry showed that
in comparison to August 2019, last month's exports rose by 27.5 per
cent.
"Value of non-petroleum exports in August 2021 was $28.58
billion, registering a positive growth of 36.57 per cent over
non-petroleum exports of $20.93 billion in August 2020 and a positive
growth of 25.44 per cent over non-petroleum exports of $22.78 billion
in August 2019.
"Value of non-petroleum and non-gems and
jewellery exports in August 2021 was $25.15 billion, registering a
positive growth of 31.66 per cent over non-petroleum and non-gems and
jewellery exports of $19.1 billion in August 2020 and a positive growth
of 28.53 per cent over non-petroleum and non-gems and jewellery exports
of $19.57 billion in August 2019."
Similarly, India's merchandise
imports in August 2021 increased, rising 51.47 per cent on a
year-on-year basis to $47.01 billion.
The imports increased by 17.95 per cent over $39.85 billion in August 2019.
"Value
of non-petroleum imports was $35.37 billion in August 2021 with a
positive growth of 43.88 per cent over non-petroleum imports of $24.58
billion in August 2020 and had a positive growth of 22.58 per cent only
over non-petroleum imports of $28.85 billion in August 2019."
"Value
of non-oil, non-GJ (gold, silver and precious metals) imports was
$26.36 billion in August 2021 with a positive growth of 33.97 per cent
over non-oil and non-GJ imports of $19.68 billion in August 2020 but had
a marginal positivegrowth of 2.63 per cent over non-oil and non-GJ
imports of $25.69 billion in August 2019."
Consequently, the country's trade deficit rose by 69.15 per cent to $13.87 billion on a YoY basis.
"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 $13.9 billion in August 2021, marking a four month high,"
ICRA Chief Economist Aditi Nayar said.
"We expect the current
account to record a modest deficit of $4-6 billion in the ongoing
quarter. Despite rising mobility, net oil imports were largely stable,
benefitting from a moderation in crude oil prices."
FIEO
President A. Sakthivel said that steady recovery in global trade added
with the expectation of buoyant order booking position for the coming
months has also led to such continuous growth in exports.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|