Merchandise exports soared 45 pc to USD 33.14 billion in August 2021, trade deficit at USD 13.87 billion

New Delhi [India], September 2 (ANI): The preliminary data released by the Commerce and Industry Ministry on Thursday has shown that India's merchandise exports in August 2021 soared 45.17 per cent to USD33.14 billion as compared to USD 22.83 billion in the same month last year.

The data also showed that India's merchandise imports in August 2021 was USD47.01 billion, an increase of 51.4 per cent over USD 31.03 billion in August 2020 and a rise of 17.95 per cent over USD39.85 billion in August 2019.

"The trade deficit in August 2021 was USD 13.87 billion in compared to the trade deficit of USD 8.2 billion in August 2020, while it is USD 55.9 billion during April-August 2021 as compared to USD 22.7 billion during the same period of the previous year," the ministry said.

The value of non-petroleum exports in August 2021 was 28.58 USD billion, registering a positive growth of 36.57 per cent over non-petroleum exports of USD 20.93 billion in August 2020 and positive growth of 25.44 per cent over non-petroleum exports of USD 22.78 billion in August 2019.

The value of non-petroleum imports was USD 35.37 billion in August 2021 with a positive growth of 43.88 per cent over non-petroleum imports of USD 24.58 billion in August 2020 and had a positive growth of 22.58 per cent only over non-petroleum imports of USD 28.85 billion in August 2019.

The top 10 major commodity groups, covering more than 80 per cent of total exports, which registered positive year-on-year growth during August included engineering goods (58.79 per cent), petroleum products (139.78 per cent), gems and jewellery (88.04 per cent), organic and inorganic chemicals (35.75 per cent), drugs and pharmaceuticals (1.21 per cent), cotton yarn/fabrics/made-ups and handloom products (55.62 per cent) and electronic goods (31.49 per cent).

Major commodity groups which accounted for the bulk of imports included petroleum and crude products, gold, electronic goods, machinery, electrical and non-electrical, pearls, precious and semi-precious stones. (ANI)