In September, exports increased by more than 21% to $33.44 billion

Spread the love

New Delhi: According to preliminary statistics provided by the government on Friday, India’s merchandise exports increased by 21.35 percent year on year to $33.44 billion in September, owing to improved performance in key sectors such as engineering items and petroleum products.

Imports of products totaled $56.38 billion in September, up 84.75 percent over the same month the previous year. At the same time a year earlier, it was more than $30.52 billion. It’s also up 49.58 percent from $37.69 billion in September of this year.

In September, the trade imbalance was $22.94 billion, thanks to a roughly 750 percent increase in gold imports to $5.11 billion.

According to preliminary statistics from the Ministry of Commerce and Industry, the trade deficit, or the difference between imports and exports, was $78.81 billion from April to September.

“India’s goods exports in September 2021 totaled $33.44 billion, up 21.35 percent from $27.56 billion in September 2020 and 28.51 percent from $26.02 billion in September 2019,” the report stated.

Engineering products exports totaled $9.42 billion in September 2020, up 36.7 percent from September 2020. In September 2021, outbound petroleum exports are expected to be $4.91 billion, up 39.32% from the previous month.

On an annual basis, imports of ‘petroleum, crude, and products’ increased by over 200 percent to $17.436 billion in September.

Imports of ‘coal, coke, and briquettes’ increased by 82.89 percent to $2.18 billion in September 2021, compared to the same month the previous year.

According to the government, non-petroleum exports were $28.53 billion in September, up 18.72 percent year over year and 26.32 percent higher than September 2019.

Non-petroleum imports were $38.95 billion in September, up 57.73 percent from the same month the previous year and 36.14 percent from September 2019.

According to the report, non-petroleum and non-gems and jewellery exports totaled $25.29 billion in September, up 18.59 percent year over year.

Exports totaled $197.11 billion in the first half of the fiscal year 2021 (April-September). This is a 56.92 percent increase over the previous quarter’s $125.61 billion and a 23.84 percent increase over April-September 2019.