Business

India’s merchandise export rises to record $ 37.29 billion in Dec last


Published : 04 Jan 2022 08:22 PM

Good news for India and its overall economy in the face of pandemic onslaught as the country’s merchandise export increased to US$ 37.29 billion in December 2021, showing an increase of 37% over US$27.22 billion in December 2020 and an increase of 37.55 % over US$ 27.11 billion in December 2019, a statement issued by the Ministry of Commerce and Industry said on Monday.

According to the Ministry of Commerce, India’s merchandise export in April-December 2021 was US$299.74 billion, an increase of 48.85% over US $ 201.37 billion in April-December 2020 and an increase of 25.80% over US$ 238.27 billion in April-December 2019.

On the other hand, India’s merchandise import in December 2021 was US$ 59.27 billion, an increase of 38.06% over US $ 42.93 billion in December 2020 and an increase of 49.7% over US $ 39.59 billion in December 2019, the Ministry said.

India’s merchandise import in April-December 2021 was US $443.71 billion, an increase of 69.27% over US $ 262.13 billion in April-December 2020 and an increase of 21.84% over US$ 364.18 billion in April-December 2019, the Ministry added.The trade deficit in December 2021 was US$ 21.99 billion, while it was 143.97 billion US$ during April-December 2021.

Value of non-petroleum and non-gems and jewellery exports in December 2021 was US$ 28.69 billion, registering a positive growth of 28.64% over non-petroleum and non-gems and jewellery exports of US$ 22.30 billion in December 2020 and a positive growth of 36.21% over non-petroleum and non-gems and jewellery exports of US$ 21.06 billion in December 2019.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was US$ 35.57 billion in December 2021 with a positive growth of 34.68% over non-oil and non-GJ imports of US$ 26.41 billion in December 2020 and a positive growth of 47.75% over non-oil and non-GJ imports of US$ 24.07 billion in December 2019.

The cumulative value of non-petroleum and non-gems and jewellery exports in April-December 2021 was US$ 228.25 billion, an increase of 36.66% over cumulative value of non-petroleum and non-gems and jewellery exports of US$ 167.02 billion in April-December 2020 and an increase of 28.12% over cumulative value of non-petroleum and non-gems and jewellery exports of US$ 178.15 billion in April-December 2019.