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The Ministry of Commerce and Industry in its preliminary data has showed that India’s merchandise exports jumped 21.35% to $33.44 billion in September 2021 as compared to $27.56 billion in September 2020, mainly due to better performance by key sectors like engineering goods and petroleum products. In September, merchandise imports stood at $56.38 billion, an increase of 84.75% compared to the year-ago period. The same was at more than $30.52 billion in the same period a year ago. The trade deficit in September was at $22.94 billion as gold imports jumped nearly 750% to $5.11 billion.

As per the preliminary data, the trade deficit, which is the gap between imports and exports, works out to be $78.81 billion during April-September period. Exports of engineering goods stood at $9.42 billion, up 36.7% over September 2020. The outward shipments of petroleum is estimated at $4.91 billion in September 2021, an increase of 39.32% over the year-ago month. Outward shipments of ‘gems and jewellery’ were 19.71% higher at $3.23 billon. However, exports of ‘drugs and pharmaceuticals’ registered a decline of 8.47%.

The imports of ‘petroleum, crude and products’ soared nearly 200% to $17.436 billion in September on an annual basis. The data also showed that imports of ‘coal, coke and briquettes’ were up 82.89% at $2.18 billion in September 2021 over the same month last year. Besides, value of non-petroleum exports in September was $28.53 billion, a growth of 18.72% over the year-ago period and 26.32% higher compared to September 2019. Value of non-petroleum imports was at $38.95 billion in September, an increase of 57.73% compared to the same period a year ago, and 36.14% over September 2019.

As per the data, value of non-petroleum and non-gems and jewellery exports in September was at $25.29 billion, registering a growth of 18.59% year-on-year. The exports in the first half of the fiscal (April-September 2021) stood at $197.11 billion. This is an increase of 56.92% over $125.61 billion in the year-ago period and 23.84% compared to April-September 2019.