Exports begin new fiscal with a bang

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Indias export performance continues to be impressive in April 2021 with merchandise exports accelerating by an impressive 195.72% over April 2020 levels and 17.62% over April 2019 levels.

Merchandise export, excluding POL and gems & jewellery, increased by 160.24% in April 2021 over the same period of 2020-21 and by 20.47% over the same period of 2019-20.

The economic recovery is also visible in the rising import growth of 167.05% and 7.87% during April 2021 over same period of 2020-21 and 2019-20, respectively, emphasised a release.

Commodity growth trends

The commodities/commodity groups which recorded positive growth during April 2021 vis–vis April 2020 were gems & jewellery (9,271.21%), jute mfg. including floor coverings (1,684.62%), carpets (1,352.68%), handicrafts excl. handmade carpets (1,275.46%), leather and leather products (1,201.44%), RMG of all textiles (927.08%), cotton yarn/fabs./made-ups, handloom products etc. (618.26%), man-made yarn/fabs./made-ups etc. (587.01%), other cereals (451.39%), ceramic products and glassware (444.45%), electronic goods (372.62%), oil meals (279.49%), cashew (260.48%), mica, coal and other ores, minerals including processed minerals (241.21%), engineering goods (238.27%), petroleum products (191.53%), tobacco (187.4%), cereal preparations and miscellaneous processed items (174.61%), iron ore (172.16%), oil seeds (169.04%), meat, dairy and poultry products (148.81%), tea (146.31%), marine products (107.94%), spices (97.56%), coffee (75.02%), organic and inorganic chemicals (68.54%), rice (61.64%), plastic and linoleum (51.89%), fruits and vegetables (25.4%), and drugs and pharmaceuticals (23.43%).

Iron ore and drugs & pharmaceuticals exports have been consistently growing throughout 2020-2021 and April 2021. Rice export too has been growing during 2020-21 and April 2021 except in April 2020. Cereal preparations and miscellaneous processed items, other cereals and oil meals exports have been consistently growing since June 2020. Jute mfg. including floor covering and carpet exports have been consistently growing since July 2020. Handicrafts, excl. handmade carpets, cotton yarn/fabs./made-ups, handloom products etc., ceramic products and glassware, spices and others categories exports have been growing consistently since September 2020. Mica, coal and other ores, minerals including processed minerals export have been consistently growing since October 2020.

Sectors such as leather and leather products, man-made yarn/fabs./made-ups etc., and marine products, which had been exhibiting negative growth during the pandemic (2020-2021), have picked up from March 2021 onwards, the release added.