Indian merchandise exports up by 43%; Imports rise 62% in October 2021 on YoY basis

Exports during October 2020 stood at $24.92 billion. October 2021 exports were higher by 35.89 per cent in comparison to the exports made in October 2019, as per the official data.  The non-petroleum, non-gems and jewellery exports in October 2021 stood at $26.09 billion, while in October 2020 it stood at $20.43 billion which signifies a positive growth of 27.75 per cent, the ministry said

India's merchandise exports for October 2021 are estimated to be $35.65 billion and it has registered a growth of 43.05 per cent on a year-on-year (YoY) basis, according to the data released by the Ministry of Commerce and Industry on Monday.

Exports during October 2020 stood at $24.92 billion. October 2021 exports were higher by 35.89 per cent in comparison to the exports made in October 2019, as per the official data.  

The non-petroleum, non-gems and jewellery exports in October 2021 stood at $26.09 billion, while in October 2020 it stood at $20.43 billion which signifies a positive growth of 27.75 per cent, the ministry said

The ministry also added that the non-petroleum and non-gems and jewellery exports in October 2021 registered a growth of 36.82 per cent compared to exports in October 2019.

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Similarly, India's merchandise imports in October 2021 increased, rising by 62.51 per cent over last year to $55.37 billion from $34.07 billion.

"Oil imports in October 2021 were $14.43 billion which was 140.47 per cent higher in dollar terms, compared to $6 billion in October 2020. Non-oil imports in October 2021 were estimated at $40.94 billion which was 45.85 per cent higher in dollar terms, compared to $28.07 billion in October 2020."

"Non-Oil and Non-Gold imports were $35.84 billion in October 2021, recording a positive growth of 40.14 per cent, as compared to non-oil and non-gold imports of $25.57 billion in October 2020. Non-Oil and Non-Gold imports in October 2021 recorded a positive growth of 35.66 per cent over October 2019."

Consequently, trade deficit widened by 115.50 per cent on a year-on-year basis to $19.73 billion in September 2021 from $9.15 billion in the like period of 2020.

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It had widened to $11.75 billion in October 2019.