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If we take a closer look at the preliminary GDP estimates for the first quarter of 2021-22, India's gross domestic product (GDP) stood at Rs. 51.23 lakh cr. (US$ 694.93 billion) in the first quarter of FY22. India's trade and ancillary sector had a significant impact on GDP growth as well as per capita income growth.
According to the Ministry of Commerce and Industry, India's total exports between April 2021 and August 2021 were expected to be US$256.17 billion (a 44.04 percent YoY increase). Whereas total imports were estimated to be US$ 273.45 billion between April 2021 and August 2021. (a 64.18 percent YoY increase).
Keeping the Ministry’s expectation in mind, India's merchandise exports were expected to reach a total of US$164.10 billion (a 67.33 percent YoY increase). And if we talk about the merchandise imports during this period then, it was estimated to be US$ 219.63 billion (an 80.89 percent YoY growth).
According to the Minister of Commerce and Industry & Railways, the Government of India, Piyush Goyal added that we are eager to increase exports and create more jobs for young, talented, and well-educated people, as well as semi-skilled and unskilled laborers in India.
- India's merchandise exports in January 2021 were USD 27.24 billion, up 5.37 percent from USD 25.85 billion in January 2020.
- India's merchandise imports in January 2021 were USD 41.99 billion, up 2.05 percent from USD 41.15 billion in January 2020.
- India is a net importer in January 2021, with a trade deficit of USD 14.75 billion, down 3.57 percent from the trade deficit of USD 15.30 billion in January 2020.
- Non-petroleum and non-gems and jewelry exports were valued at USD 22.40 billion in January 2021, up from USD 19.79 billion in January 2020, representing a 13.21 percent increase.
- Non-oil, non-GJ (gold, silver, and precious metals) imports totaled USD 26.35 billion in January 2021, up from USD 24.87 billion in January 2020, representing a 5.94 percent increase.
- Other Food products (313.88 percent), Oil Meals (253.06 percent), Iron Ore (108.66 percent), Cereal Preparations and Miscellaneous Processed Items (43.62 percent), and Jute Manufacturing including Floor Covering (43.62 percent) are the top five commodity groups of export that recorded positive growth in January 2021 compared to January 2020. (27.64 percent)
- Top 5 import commodity groups showing a decrease in January 2021 compared to January 2020: Silver (-95.77%), Newsprint (-80.81%), Project Good (-62.16%), Leather & leather products (-37.73%), and Petroleum, Crude & Products (-37.73%) (-27.72).
In this post, we have shared a glimpse of Indian Trade Data. We hope that you received it well. If you want more detailed data and information associated with the Trade Market, then you can trust Export Import Data without any hesitation. We are widely appreciated by our clients from different corners of the world for delivering 100% accurate and verified trade data at a very reasonable price. So, what are you waiting for? Partner with us today!
Created on Dec 27th 2021 00:30. Viewed 306 times.