India’s overall exports (Merchandise and Services combined) in October 2022* are estimated to be USD 58.36 Billion, exhibiting a positive growth of 4.03 per cent over the same period last year. Overall imports in October 2022* are estimated to be USD 73.00 Billion, exhibiting a positive growth of 11.82 per cent over the same period last year.
Table 1: Trade during October 2022*
October 2022
(USD Billion)
October 2021
Merchandise
Exports
29.78
35.73
Imports
56.69
53.64
Services*
28.58
20.37
16.30
11.64
Overall Trade
(Merchandise +Services) *
58.36
56.10
73.00
65.28
Trade Balance
-14.63
-9.18
* Note: The latest data for services sector released by RBI is for September 2022. The data for October 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-October2021 and April-June 2022 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during October 2022*
India’s overall exports (Merchandise and Services combined) in April-October 2022* are estimated to be USD 444.74 Billion, exhibiting a positive growth of 19.56 per cent over the same period last year. Overall imports in April-October 2022* are estimated to be USD 543.26 Billion, exhibiting a positive growth of 33.80 per cent over the same period last year.
Table 2: Trade during April-October 2022*
April-October 2022
April-October 2021
263.35
233.98
436.81
328.14
181.39
138.01
106.45
77.89
Overall Trade (Merchandise+
Services) *
444.74
371.98
543.26
406.03
-98.52
-34.05
Fig 2: Overall Trade during April-October 2022*
MERCHANDISE TRADE
Merchandise exports in October 2022 were USD 29.78 Billion, as compared to USD 35.73 Billion in October 2021.
Merchandise imports in October 2022 were USD 56.69 Billion, as compared to USD 53.64 Billion in October 2021.
Fig 3: Merchandise Trade during October 2022
Merchandise exports for the period April-October 2022 were USD 263.35 Billion as against USD 233.98 Billion during the period April-October 2021.
Merchandise imports for the period April-October 2022 were USD 436.81 Billion as against USD 328.14 Billion during the period April-October 2021.
The merchandise trade deficit for April-October 2022 was estimated at USD 173.46 Billion as against USD 94.16 Billion in April-October 2021.
Fig 4: Merchandise Trade during April-October 2022
Non-petroleum and non-gems & jewellery exports in October 2022 were USD 21.72 Billion, compared to USD 26.15 Billion in October 2021.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 34.40 Billion, compared to USD 32.88 Billion in October 2021.
Table 3: Trade excluding Petroleum and Gems & Jewellery during October 2022
Non- petroleum exports
25.03
30.37
Non- petroleum imports
40.84
41.36
Non-petroleum & Non Gems & Jewellery exports
21.72
26.15
Non-petroleum & Non Gems & Jewellery imports
34.40
32.88
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during October 2022
Non-petroleum and non-gems & jewellery exports during April-October 2022 was USD 182.05 Billion, as compared to USD 176.52 Billion in April-October 2021.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 258.30 Billion in April-October 2022 as compared to USD 198.58 Billion in April-October 2021.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-October 2022
206.00
200.04
305.82
246.33
182.05
176.52
258.30
198.58
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-October 2022
SERVICES TRADE
The estimated value of services export for October 2022* is USD 28.58 Billion, as compared to USD 20.37 Billion in October 2021.
The estimated value of services import for October 2022* is USD 16.30 Billion as compared to USD 11.64 Billion in October 2021.
Fig 7: Services Trade during October 2022*
The estimated value of services export for April-October 2022* is USD 181.39 Billion as compared to USD 138.01 Billion in April-October 2021.
The estimated value of services imports for April-October 2022* is USD 106.45 as compared to USD 77.89 Billion in April-October 2021.
The services trade surplus for April-October 2022* is estimated at USD 74.93 Billion as against USD 60.12 Billion in April-October 2021.
Fig 8: Services Trade during April-October 2022*
Table 5: Export Growth in Commodity Groups in October 2022
Sl. No.
(Values in Million USD)
% Change
OCT'21
OCT'22
Commodity groups exhibiting positive growth
1
Oil seeds
84.26
149.98
78.00
2
Oil Meals
55.80
91.87
64.64
3
Electronic Goods
1347.00
1853.77
37.62
4
Tobacco
85.28
102.68
20.40
5
Tea
65.37
72.88
11.49
6
Rice
692.38
703.96
1.67
Commodities
Commodity Groups exhibiting negative growth
7
Iron Ore
78.73
7.83
-90.05
8
Handicrafts excl. hand made carpet
198.99
98.05
-50.73
9
Cotton Yarn/Fabs./made-ups, Handloom Products etc.
1335.97
719.03
-46.18
10
Jute Mfg. including Floor Covering
43.55
23.57
-45.88
11
Cashew
43.30
25.23
-41.73
12
Carpet
173.19
107.13
-38.14
13
Other cereals
62.23
44.53
-28.44
14
Plastic & Linoleum
782.88
580.53
-25.85
15
Man-made Yarn/Fabs./made-ups etc.
468.69
350.56
-25.20
16
Meat, dairy & poultry products
383.67
299.20
-22.02
17
Gems & Jewellery
4221.22
3311.27
-21.56
18
Engineering Goods
9401.21
7402.97
-21.26
19
RMG of all Textiles
1254.13
988.72
-21.16
20
Mica, Coal & Other Ores, Minerals including processed minerals
441.80
351.90
-20.35
21
Spices
333.22
268.11
-19.54
22
Organic & Inorganic Chemicals
2569.37
2146.88
-16.44
23
Petroleum Products
5355.77
4751.69
-11.28
24
Marine Products
807.77
720.32
-10.83
25
Ceramic products & glassware
284.47
256.84
-9.71
26
Drugs & Pharmaceuticals
2064.45
1873.73
-9.24
27
Cereal preparations & miscellaneous processed items
186.91
174.38
-6.70
28
Coffee
85.71
80.11
-6.53
29
Leather & leather products
370.68
349.03
-5.84
30
Fruits & Vegetables
225.88
222.50
-1.50
*Engineering goods exhibiting a fall of approx. USD 2 Billion includes steel and its products.
Table 6: Import Growth in Commodity Groups in October 2022
Commodity Groups exhibiting positive growth
Cotton Raw & Waste
38.11
172.13
351.67
Fertilisers, Crude & manufactured
805.39
2105.03
161.37
Newsprint
32.21
68.75
113.44
Pulp and Waste paper
139.62
224.98
61.14
Iron & Steel
1444.65
1991.41
37.85
Petroleum, Crude & products
12278.88
15852.43
29.10
66.12
85.35
29.08
Transport equipment
1961.71
2495.03
27.19
Wood & Wood products
471.24
575.89
22.21
Project goods
44.33
48.38
9.14
Professional instrument, Optical goods, etc.
467.89
506.31
8.21
Non-ferrous metals
1427.90
1539.70
Textile yarn Fabric, made-up articles
199.48
207.71
4.13
Machinery, electrical & non-electrical
3536.06
3632.12
2.72
Artificial resins, plastic materials, etc.
1725.40
1762.40
2.14
Sulphur & Unroasted Iron Pyrites
31.93
11.23
-64.83
Pulses
378.41
204.81
Silver
897.35
585.09
-34.80
Gold
5101.70
3700.15
-27.47
Dyeing/tanning/colouring materials
413.11
304.77
-26.23
Pearls, precious & Semi-precious stones
2482.70
2159.93
-13.00
Fruits & vegetables
239.53
211.40
-11.74
2634.16
2359.02
-10.45
Electronic goods
6828.85
6200.22
-9.21
Chemical material & products
934.43
855.67
-8.43
Metaliferrous ores & other minerals
794.86
728.11
-8.40
Machine tools
402.27
383.79
-4.59
Coal, Coke & Briquettes, etc.
3308.85
3178.07
-3.95
Vegetable Oil
1636.90
1580.63
-3.44
Medicinal & Pharmaceutical products
657.64
642.78
-2.26