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India’s Foreign Trade: 2011-12 (April-December)
Date : Mar 12, 2012

India’s Foreign Trade: 2011-12 (April-December)*

This article reviews India’s merchandise trade performance during 2011-12 (April-December) on the basis of data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S). It also analyses disaggregated commodity-wise and directionwise details for the period 2011-12 (April-September).

Highlights

  • During 2011-12 (April-December), exports stood at US$ 217.7 billion and recorded a growth of 25.8 per cent as compared with an increase of 36.0 percent during the corresponding period of the previous year. While the exports performed well during the first half of 2011-12, there was significant deceleration in the third quarter reflecting weakening of world demand inter alia caused by euro zone crisis.

  • During 2011-12 (April-December), imports at US$ 350.9 billion registered a growth of 30.4 percent as compared with 29.8 per cent in the preceding year. There has been significant rise in import of petroleum, oil and lubricants (POL), gold and silver and machinery.

  • POL imports at US$ 105.6 billion in 2011-12 (April- December) exhibited a higher growth of 40.4 percent,largely reflecting increase in international crude oil prices, as compared with 22.0 per cent turnover a year ago. The average price of Indian basket of crude oil during April-December 2011-12 stood at US$ 110.1 per barrel, which was higher by 36.6 per cent than US$ 79.4 per barrel during April-December 2010-11.

  • Non-oil imports during 2011-12 (April-December) at US$ 245.3 billion recorded a growth of 26.5 per cent as compared with 33.0 per cent in the corresponding period of the preceding year

  • Trade deficit during 2011-12 (April-December) amounted to US$ 133.2 billion, as compared with US$ 96.2 billion during April-December 2010-10.

  • The disaggregated data on commodity-wise merchandise exports indicate that during 2011-12 (April-September), engineering goods, petroleum products, chemicals, textiles, gems & jewellery and agricultural products contributed more than 80 per cent of India’s exports.

  • Share of exports to countries of European Union and OPEC in India’s total merchandise exports was lower by more than one percentage point during April-September 2011 over April-September 2010.

India’s Merchandise Trade during 2011-12 (April-December)

Exports

Export growth on monthly basis (year-on-year) showed an uptrend up to August 2011 reflecting the continued impact of export promotional measures announced by the government. However, after peaking in July 2011, monthly export growth started moderating as compared with previous quarters. Exports grew by 6.7 per cent in December 2011 as compared with 42.1 percent in December 2010 (Chart 1).

Exports during 2011-12 (April-December) stood at US$ 217.7 billion, recording a lower growth of 25.8 per cent as compared with an increase of 36.0 per cent during the corresponding period of 2010-11 (Table 1 and Statement 1). While strategy of the supportive Government policy facilitated exports in the first half of 2011-12, export growth was, particularly, affected in Q3 of 2011-12 as concerns intensified in respect of the US and Euro zone economies.

1

As per the commodity-wise exports data available for 2011-12 (April-September), manufacturing sector was the major contributor with a share of 64.9 per cent in total exports while petroleum products and primary products accounted for 20.5 per cent and 12.6 per cent, respectively (Table 2). Within manufacturing sector, exports of engineering goods continued to be a major contributor. Even though export of engineering goods remained robust during April-June 2011 on the back of demand from the new markets like Latin America and Africa, decline in engineering exports was observed in September 2011 as external demand fell due to economic slowdown in the Euro area and the US which are the most important markets for engineering exports. Nonetheless, on cumulative basis, growth in engineering exports was higher at 41.2 per cent during April-September 2011 as compared with 38.8 per cent during April-September 2010. Within engineering sector, exports of categories, viz., manufactures of metals, iron & steel and transport equipment recorded lower growth during April-September 2011 over April- September 2010.

Table 1: India's Merchandise Trade

 (US$ billion)

Items

2010-11 R

2011-12 P

April -December

1

2

3

Exports

173.0

217.7

 

(36.0)

(25.8)

Oil Exports

28.4

-

 

(45.3)

-

Non-oil Exports

144.6

-

 

(34.2)

-

Imports

269.2

350.9

 

(29.8)

(30.4)

Oil Imports

75.2

105.6

 

(22.0)

(40.4)

Non-oil Imports

194.0

245.3

 

(33.0)

(26.5)

Trade Balance

-96.2

-133.2

Oil Trade Balance

-46.8

-

Non-Oil Trade Balance

-49.4

-

R: Revised. P: Provisional. - : Not Available.
Note :Figures in parentheses show percentage change over the corresponding period of the previous year.
Source :Compiled from Ministry of Commerce and Industry and DGCI&S data.


Table 2: India's Exports of Principal Commodities

(Percentage Shares)

Commodity Group

2009-10

2010-11

2010-11

2011-12

April-March

 April-September

1

2

3

4

5

I. Primary Products

14.8

13.9

12.6

12.6

Agriculture and Allied Products

9.9

9.8

8.4

9.8

Ores and Minerals

4.8

4.1

4.3

2.7

II. Manufactured Goods

64.4

65.4

64.5

64.9

Leather and Manufactures

1.9

1.5

1.7

1.6

Chemicals and Related Products

12.8

11.5

12.2

11.7

Engineering Goods

21.4

27.4

25.1

25.2

Textiles and Textile Products

11.1

9.3

10.2

9.1

Gems and Jewellery

16.2

14.7

14.3

16.1

III. Petroleum Products

15.8

16.5

16.8

20.5

IV. Others

5.0

4.2

6.0

2.1

Total Exports

100.0

100.0

100.0

100.0

Source: Compiled from DGCI&S data.

Within manufacturing, other commodities groups, viz., leather & manufactures, chemicals & related products and textile & textile products witnessed higher growth during April-September 2011 as against the corresponding period of 2010-11. Exports of petroleum products also grew by 71.2 per cent during April- September 2011 as against 64.1 per cent in corresponding period of 2010-11. However, exports of ores and minerals recorded a decline of 10.1 per cent during April-September 2011 reflecting the impact of both demand and supply factors. Lower growth in commodities, viz., iron ore and processed minerals was possibly on account of reduced demand for basic inputs due to concerns with regard to global slowdown and also supply side factors (i) ban on shipments of iron ore from Karnataka, (ii) subdued output in Goa (iii) non-issuance of export permits by Orissa government. While impact of quantitative restrictions imposed on exports of raw cotton was evident in negative growth during April-June 2011, export from this sector picked up in subsequent months possibly reflecting the fact that the government has placed it on open general licensing since July 31, 2011 (Statement 2).

During the 2011-12 (April-September), the share of European union and OPEC countries in India’s exports declined by more than one percentage point as compared with April-September 2010 (Table 3). However, share of developing countries was only marginally lower during the period.

Table 3: India's Exports to Principal Regions

(Percentage Shares)

Region/Country

2009-10

2010-11

2010-11

2011-12

 April-March

 April-September

1

2

3

4

5

I. OECD Countries

35.9

33.6

35.2

33.9

EU

20.1

18.6

18.6

17.5

North America

11.5

10.7

11.9

11.9

US

10.9

10.2

11.3

11.3

Asia and Oceania

2.9

2.8

3.2

2.5

Other OECD Countries

1.3

1.5

1.5

1.9

II. OPEC

21.1

22.3

21.6

19.3

III. Eastern Europe

1.0

1.2

1.2

1.0

IV. Developing Countries

39.2

41.5

39.9

39.7

Asia

29.8

30.9

28.3

28.9

SAARC

4.7

5.1

4.5

3.7

Other Asian Developing Countries

25.1

25.8

23.8

25.2

People’s Republic of China

6.5

7.8

5.4

5.2

Africa

5.8

6.6

6.9

6.3

Latin America

3.6

4.0

4.7

4.5

V. Others / Unspecified

2.8

1.4

2.1

6.2

Total Exports

100.0

100.0

100.0

100.0

Source: Compiled from DGCI&S data.

Country-wise, exports during 2011-12 (April- September) indicate that the UAE continued to remain the biggest destination for Indian goods with a share of 11.9 per cent, followed by the US (11.3 per cent), Singapore (6.1 per cent), China (5.2 per cent) and Hong Kong (4.5 per cent). These five countries together accounted for around 39 per cent of India’s total exports during April-September 2011. In spite of uncertainties prevailing in Europe, India’s exports to Germany, U.K, Netherlands, Italy and Belgium grew significantly during April-September 2011. However, growth in export to Japan, France and some Latin American countries was either lower or negative (Statement 3).

Imports

During 2011-12 (April-December), imports at US$ 350.9 billion registered a growth of 30.4 per cent as against 29.8 per cent a year ago (Statement 2). Import growth was primarily led by a spurt in POL, gold & silver and machinery.

During 2011-12 (April-December), the POL imports at US$ 105.6 billion showed a higher growth of 40.4 per cent (22.0 per cent a year ago), reflecting increase in international crude oil prices. The average price of Indian basket of crude oil during 2011-12 (April- December) stood at US$ 110.1 per barrel which was 38.6 per cent higher than US$ 79.4 per barrel during the same period in 2010-11 (Table 4). However, non-oil imports during the first three quarter of 2011-12 at US$ 245.3 billion witnessed a lower growth of 26.5 per cent as compared with 33.0 per cent in corresponding period of the preceding year.As per the latest available data on commodity-wise imports for 2011-12 (April-September), petroleum and petroleum products continued to be the major item of India’s imports during April-September 2011, followed by capital goods and gold & silver. Increase in POL imports was largely on account of rise in international crude oil prices. According to DGCI&S data, the quantum of POL imports declined by 18.9 per cent during April-September 2011 as against an increase of 32.7 per cent during the corresponding period of 2010-11. Import of gold & silver continued to remain higher during April-September 2011 as compared to corresponding period of 2010-11. Higher growth in imports of gold in value terms (72.8 per cent) than that in international prices (31.0 per cent) reflects that price as well quantum factors led to surge in imports of gold during this period (Statement 4).

Table 4: Trends in Crude Oil Prices

(US$/barrel)

Period

Dubai

Brent

WTI*

Indian Basket**

1

2

3

4

5

2001-02

21.9

23.3

24.1

22.5

2002-03

25.8

27.6

29.2

26.7

2003-04

26.8

29.1

31.4

28.0

2004-05

36.4

42.2

45.0

39.2

2005-06

53.5

58.2

59.8

55.7

2006-07

61.0

64.3

64.7

62.5

2007-08

77.3

82.3

82.1

79.2

2008-09

82.1

84.8

85.8

83.6

2009-10

69.5

69.8

70.5

69.8

2010-11

84.2

86.8

83.2

85.1

(April-December) 2010

78.8

80.8

79.6

79.4

(April-December) 2011

108.0

112.9

95.3

110.1

* West Texas Intermediate.
** The composition of Indian Basket of Crude represents Average of Oman & Dubai for sour grades and Brent (Dated) for sweet grade in the ratio of 65.2:34.8 w.e.f. April 1, 2011.
Sources: World Bank, Global Economic Monitor Commodities Ministry of Petroleum and Natural Gas, Government of India.

Non-oil imports during 2011-12 (April-September) at US$ 162.7 billion witnessed a growth of 28.6 per cent as against 39.6 per cent during the corresponding period of previous year. Deceleration in non-oil imports was mainly on account of decline in imports of export related items and certain bulk items, viz., fertilisers, manufactured items and iron & steel. Import growth in most of export-related items (viz., pearls, precious and semi-precious stones, chemicals, textile yarn and fabric) was either negative or lower possibly reflecting incipient signs of export moderation in these sectors in forthcoming months. Import of certain categories of capital goods, viz., transport equipment and project goods, either declined or showed decelerated growth. Nonetheless, growth in overall imports of capital goods was higher during April-September 2011(Table 5 and Statement 4).

Table 5: Imports of Principal Commodities

(Percentage Shares)

Commodity/Group

2009-10

2010-11

2010-11

2011-12

April-March

 April-September

 1

2

3

4

5

1 Petroleum, Crude and Products

30.2

28.1

28.3

31.2

2 Capital Goods

22.8

21.2

21.1

19.7

3 Gold and Silver

10.3

11.5

10.3

13.2

4 Organic and Inorganic Chemicals

4.1

4.1

4.3

3.9

5 Coal, Coke and Briquettes, etc.

3.1

2.7

3.3

3.6

6 Fertilisers

2.4

1.9

2.6

1.7

7 Metalliferrous Ores, Metal Scrap, etc.

2.7

2.6

2.5

2.7

8 Iron and Steel

2.9

2.8

3.1

2.4

9 Pearls, Precious and Semi-Precious Stones

5.6

9.4

8.5

5.9

10 Others

15.9

15.7

16.1

15.6

Total Imports

100.0

100.0

100.0

100.0

Source: Compiled from DGCI&S data.


Table 6: Shares of Groups/Countries in India's Imports

(Percentage Shares)

Region/Country

2009-10

2010-11

2010-11

2011-12

April-March

April-September

1

2

3

4

5

I. OECD Countries

32.6

30.6

30.3

28.8

EU

13.3

12.0

11.8

11.5

France

1.4

1.0

1.0

0.8

Germany

3.6

3.2

3.2

3.2

UK

1.5

1.5

1.4

1.6

North America

6.6

6.0

6.4

5.1

US

5.9

5.4

5.8

4.6

Asia and Oceania

6.8

5.4

6.1

5.4

Other OECD Countries

5.9

7.2

5.9

6.9

II. OPEC

32.0

33.6

32.8

34.2

III. Eastern Europe

2.1

1.5

1.9

1.4

IV. Developing Countries

32.5

33.0

34.2

32.6

Asia

25.6

27.1

27.7

26.0

SAARC

0.6

0.6

0.5

0.5

Other Asian Developing Countries

25.1

26.5

27.1

25.5

Of which:

 

 

 

 

People’s Republic of China

10.7

11.8

12.3

11.7

Africa

4.3

3.6

4.1

4.1

Latin America

2.6

2.4

2.5

2.5

V. Others / Unspecified

0.7

1.3

0.9

3.0

Total Imports

100.0

100.0

100.0

100.0

Source: Compiled from DGCI&S data.

During 2011-12 (April-September), the share of developing countries and OECD countries in total imports of India was lower at 32.6 per cent and 28.8 per cent respectively as compared with 34.2 per cent and 30.3 per cent respectively during the same period of 2010-11. On the other hand, the share of OPEC group of countries rose to 34.2 per cent during April- September 2011-12 from 32.8 per cent during the corresponding period of previous year (Table 6). Country-wise, China continued to be the largest source of imports with a share of 11.7 per cent in total imports, followed by the UAE, Switzerland, Saudi Arabia and the US. These five countries together constituted around 36.3 per cent of India’s imports. During April-September 2011, there was a distinct shift in source countries for imports. Switzerland became the third largest source country for imports replacing the US while the US slipped to fifth position. In absolute terms, imports from Iraq recorded an increase of 168.6 per cent during the period, doubling its share in India’s total imports mainly due to higher imports of crude oil (Statement 5).

Trade Deficit

The trade deficit during April-December 2011 stood higher at US$ 133.3 billion than US$ 96.2 billion during the same period of 2010-11 (Statement 1) mainly on account of surge in imports of POL and gold & silver.

Global Trade

Latest monthly data available up to December 2011, from the International Monetary Fund’s International Financial Statistics (IFS), show that the value of world merchandise exports grew by 16.6 per cent during April-December 2011 which was lower than 20.6 per cent recorded during April-December 2010-11 (Chart 2). World export trend lost momentum during the second quarter of 2011, partly due to an earthquake and tsunami in Japan disrupted global supply chains and high oil prices slowed consumption in advanced economies. As a result, global export growth remained lower than anticipated in most advanced economies. India’s export growth, however, was higher than the global trend during April- December 2011 albeit deceleration was evident in recent months. In its WEO update in January 2012, the IMF has revised export growth projections for advanced and emerging and developing economies from 6.2 per cent and 9.4 per cent to 5.5 per cent and 9.0 per cent, respectively for 2011.

2

Cross-country comparison of export performance indicates that India’s export growth was largest among the major advanced and emerging economies during the first nine months of 2011 (Table 7). India’s export growth in the remaining part of the year will largely depend on the global developments particularly in our major trade partner economies.

Table 7: Growth in Exports: Cross-Country Comparison

Per cent

Region/Country

2009

2010

2010

2011

January- December

January- September

1

2

3

4

5

World

-22.7

21.8

23.6

20.3

Advanced Economies

-21.7

18.0

19.6

18.9

United States

-18.8

20.9

22.1

17.8

France

-21.9

8.3

9.2

16.2

Germany

-22.8

12.6

13.4

21.7

Japan

-25.7

32.6

38.2

9.1

Emerging and Developing Countries

-24.4

28.4

30.8

21.7

Singapore

-20.2

30.4

33.6

19.8

China, P.R.: Mainland

-15.9

31.3

34.0

22.7

India

-15.4

33.2

32.1

45.6

Indonesia

-14.3

32.1

34.2

33.7

Korea, Republic of

-14.3

29.0

30.1

22.9

Malaysia

-24.9

26.2

32.0

16.4

Thailand

-13.6

28.5

31.6

24.2

Source: (1) IMF (www.imfstatistics.org).
(2) DGCI&S for India.

World Commodity Prices

Moderation in world commodity prices which began in July 2011 continued in subsequent months. On average, growth in index of all commodities prices was lower at 17.4 per cent during August-December 2011 as compared with 35.9 per cent during April-July 2011. Fall in commodity prices was mainly on account of continued concerns about global demand. Metals prices fell mainly on account of worries about global growth and slowing demand in China which is the world’s largest metal consumer. However, deceleration in international energy prices was modest compared to other commodities as international crude oil prices have held up in recent months, largely because of supply-side developments.

3

Statement 1 - India's Foreign Trade

Year

 

Exports

Imports

Trade Balance

Total

Oil

Non-Oil

Total

Oil

Non-Oil

Total

Oil

Non-Oil

1

2

3

4

5

6

7

8

9

10

April-December

Rupees crore

2009-10

608,882

93,149

515,733

991,605

294,669

696,937

-382,723

-201,520

-181,203

 

(-6.7)

(-9.6)

(-6.2)

(-12.0)

(-17.6)

(-9.3)

 

 

 

2010-11 R

789,069

129,479

659,590

1,228,074

334,870

893,204

-439,006

-205,391

-233,614

 

(29.6)

(39.0)

(27.9)

(23.8)

(13.6)

(28.2)

 

 

 

2011-12 P

1,024,707

1,651,240

494,667

1,156,573

-626,533

 

 

 

(29.9)

 

 

(34.5)

(47.7)

(29.5)

 

 

 

US dollar million

2009-10

127,182

19,525

107,657

207,315

61,661

145,654

-80,133

-42,136

-37,997

 

(-13.8)

(-16.8)

(-13.3)

(-18.3)

(-24.0)

(-15.7)

 

 

 

2010-11 R

172,965

28,375

144,590

269,175

75,211

193,964

-96,210

-46,836

-49,374

 

(36.0)

(45.3)

(34.3)

(29.8)

(22.0)

(33.2)

 

 

 

2011-12 P

217,664

350,936

105,589

245,347

-133,272

 

 

 

(25.8)

 

 

(30.4)

(40.4)

(26.5)

 

 

 

P: Provisional. R: Revised. ..: Not available.
Notes : 1. Figures in brackets relate to percentage variation over the corresponding period of the previous year.
2. Data conversion has been done using period average exchange rates.
Source : DGCI & S.


Statement 2: India's Exports of Principal Commodities

( US $ million)

Commodity/Group

April-September

Percentage Variation

2009-10

2010-11R

2011-12 P

(3)/(2)

(4)/(3)

1

2

3

4

5

I. Primary Products

10,719.1

13,311.2

18,542.5

24.2

39.3

A. Agricultural & Allied Products

7,439.9

8,793.6

14,480.7

18.2

64.7

Of which :

 

 

 

 

 

1. Tea

262.2

321.3

367.3

22.6

14.3

2. Coffee

193.5

276.3

507.8

42.8

83.8

3. Rice

1,350.9

1,108.1

1,748.8

-18.0

57.8

4. Wheat

0.0

0.1

5.0

-

-

5. Cotton Raw incl. Waste

280.0

374.9

809.1

33.9

115.8

6. Tobacco

462.4

431.6

358.3

-6.7

-17.0

7. Cashew incl. CSNL

280.1

278.3

445.7

-0.6

60.1

8. Spices

580.1

769.8

1,318.9

32.7

71.3

9. Oil Meal

668.6

729.3

983.6

9.1

34.9

10. Marine Products

859.0

1,074.9

1,580.4

25.1

47.0

11. Sugar & Molasses

13.7

148.8

951.2

988.1

539.4

B. Ores & Minerals

3,279.2

4,517.7

4,061.9

37.8

-10.1

Of which :

 

 

 

 

 

1. Iron Ore

2,024.2

2,940.4

2,036.5

45.3

-30.7

2. Processed Minerals

591.9

942.2

865.1

59.2

-8.2

II. Manufactured Goods

55,085.3

67,920.2

95,898.0

23.3

41.2

Of which :

 

 

 

 

 

A. Leather & Manufactures

1,608.5

1,831.9

2,332.3

13.9

27.3

B. Chemicals & Related Products

10,284.2

12,837.8

17,229.7

24.8

34.2

1. Basic Chemicals, Pharmaceuticals & Cosmetics

7,096.4

8,633.9

11,150.1

21.7

29.1

2. Plastic & Linoleum Products

1,497.2

2,067.3

3,222.9

38.1

55.9

3. Rubber, Glass, Paints & Enamels, etc.

1,240.7

1,584.3

2,138.2

27.7

35.0

4. Residual Chemicals & Allied Products

449.9

552.3

718.6

22.8

30.1

C. Engineering Goods

19,000.4

26,368.4

37,235.1

38.8

41.2

Of which :

 

 

 

 

 

1. Manufactures of Metals

 

3,857.0

4,256.7

42.4

10.4

2. Machinery & Instruments

 

5,122.3

6,732.4

11.3

31.4

3. Transport Equipments

 

8,565.5

12,415.2

57.9

44.9

4. Iron & Steel

 

2,471.7

3,248.2

64.3

31.4

5. Electronic Goods

 

3,437.4

4,362.8

13.7

26.9

D. Textiles & Textile Products

9,609.2

10,737.6

13,453.0

11.7

25.3

1. Cotton Yarn, Fabrics, Made-ups, etc.

1,584.9

2,641.4

3,237.6

66.7

22.6

2. Natural Silk Yarn, Fabrics Made-ups etc.(Incl. silk waste)

145.3

156.9

102.4

8.0

-34.7

3. Manmade Yarn, Fabrics, Made-ups, etc.

1,782.5

1,856.3

2,521.9

4.1

35.9

4. Manmade Staple Fibre

152.8

196.2

248.6

28.4

26.7

5. Woollen Yarn, Fabrics, Made-ups,etc.

44.4

46.6

74.4

5.0

59.6

6. Readymade Garments

5,390.9

5,094.5

6,577.4

-5.5

29.1

7. Jute & Jute Manufactures

 

237.2

226.7

114.0

-4.5

8. Coir & Coir Manufactures

78.5

74.3

97.4

-5.4

31.1

9. Carpets

319.2

434.2

366.7

36.0

-15.5

(a) Carpet (excl. silk) Handmade

315.2

433.1

365.3

37.4

-15.6

(b) Carpet Millmade

0.0

0.0

0.0

 

 

(c) Silk Carpet

4.0

1.1

1.3

-73.9

25.7

E. Gems & Jewellery

13,740.0

15,030.3

23,814.7

9.4

58.4

F. Handicrafts

102.5

110.4

86.5

7.7

-21.7

III. Petroleum Products

10,759.4

17,653.1

30,223.6

64.1

71.2

IV. Others

4,386.5

6,356.3

3,048.5

44.9

-52.0

Total Exports

80,950.3

105,240.8

147,712.6

30.0

40.4

P : Provisional. R : Revised.
Source :DGCI&S.


Statement 3: Direction of India's Foreign Trade-Exports

( US $ million)

Group/Country

April-September

Percentage Variation

2009-10

2010-11R

2011-12 P

(3)/(2)

(4)/(3)

1

2

3

4

5

6

I. O E C D Countries

29,043.7

37,075.6

50,046.4

27.7

35.0

A. European Union

16,112.2

19,621.8

25,902.9

21.8

32.0

Of which :

 

 

 

 

 

1. Belgium

1,625.4

2,436.2

3,694.9

49.9

51.7

2. France

1,450.7

2,095.4

1,986.7

44.4

-5.2

3. Germany

2,538.3

2,765.7

3,958.7

9.0

43.1

4. Italy

1,482.2

1,821.2

2,537.6

22.9

39.3

5. Netherlands

2,866.5

3,272.4

4,624.7

14.2

41.3

6. U K

2,977.9

3,270.6

4,178.3

9.8

27.8

B. North America

9,537.9

12,473.1

17,524.9

30.8

40.5

1. Canada

546.0

595.7

875.0

9.1

46.9

2. U S A

8,992.0

11,877.4

16,650.0

32.1

40.2

C. Asia & Oceania

2,314.7

3,405.6

3,740.0

47.1

9.8

Of which :

 

 

 

 

 

1. Australia

658.9

783.8

980.9

19.0

25.2

2. Japan

1,510.8

2,532.2

2,646.3

67.6

4.5

D.Other O E C D Countries

1,079.0

1,575.1

2,878.6

46.0

82.8

Of which :

 

 

 

 

 

1. Switzerland

256.8

284.2

802.9

10.6

182.5

II. O P E C

18,359.4

22,709.5

28,444.0

23.7

25.3

Of which :

 

 

 

 

 

1. Indonesia

1,616.4

2,238.8

3,423.4

38.5

52.9

2. Iran

976.6

1,042.0

1,255.5

6.7

20.5

3. Iraq

264.3

231.7

300.6

-12.4

29.8

4. Kuwait

386.1

876.8

568.0

127.1

-35.2

5. Saudi Arabia

2,078.4

2,218.4

3,014.4

6.7

35.9

6. U A E

11,129.3

14,352.5

17,633.8

29.0

22.9

III. Eastern Europe

768.2

1,228.9

1,434.7

60.0

16.7

Of which :

 

 

 

 

 

1. Russia

424.1

810.2

821.5

91.0

1.4

IV. Developing Countries

30,230.8

42,038.2

58,602.4

39.1

39.4

A. Asia

23,056.1

29,787.5

42,711.2

29.2

43.4

a) S A A R C

3,705.8

4,753.1

5,440.5

28.3

14.5

1. Afghanistan

252.5

171.6

257.1

-32.1

49.9

2. Bangladesh

1,056.1

1,363.8

1,373.7

29.1

0.7

3. Bhutan

48.3

80.1

111.6

65.8

39.4

4. Maldives

37.6

48.2

57.0

28.3

18.2

5. Nepal

689.2

971.8

950.9

41.0

-2.1

6. Pakistan

801.0

783.0

557.3

-2.2

-28.8

7. Sri Lanka

821.2

1,334.7

2,132.8

62.5

59.8

b) Other Asian Developing Countries

19,350.3

25,034.4

37,270.7

29.4

48.9

Of which :

 

 

 

 

 

1. People's Republic of China

4,093.6

5,727.4

7,747.8

39.9

35.3

2. Hong Kong

3,713.7

4,832.2

6,696.6

30.1

38.6

3. South Korea

1,339.6

1,505.7

2,193.2

12.4

45.7

4. Malaysia

1,556.1

1,964.1

1,839.3

26.2

-6.4

5. Singapore

3,619.8

4,612.6

9,074.5

27.4

96.7

6. Thailand

778.8

974.9

1,298.3

25.2

33.2

B. Africa

4,910.1

7,253.7

9,253.3

47.7

27.6

Of which :

 

 

 

 

 

1. Benin

92.9

125.5

398.2

35.2

217.3

2. Egypt Arab Republic

606.2

995.3

960.0

64.2

-3.5

3. Kenya

749.3

1,146.7

982.2

53.0

-14.3

4. South Africa

1,036.9

2,145.3

2,177.7

106.9

1.5

5. Sudan

208.3

230.5

392.8

10.6

70.4

6. Tanzania

449.3

489.9

819.9

9.0

67.4

7. Zambia

38.9

47.7

92.6

22.7

94.1

C. Latin American Countries

2,264.5

4,997.1

6,637.9

120.7

32.8

V. Others

282.7

116.2

8.3

-58.9

-92.9

VI. Unspecified

2,265.5

2,072.5

9,176.8

-8.5

342.8

Total Exports

80,950.3

105,240.8

147,712.6

30.0

40.4

P : Provisional. R : Revised.
Source : DGCI&S.


Statement 4: India's Imports of Principal Commodities

( US $ million)

Commodity/Group

April-September

Percentage Variation

2009-10

2010-11R

2011-12 P

(3)/(2)

(4)/(3)

1

2

3

4

5

6

I. Bulk Imports

54,954.9

73,252.0

101,502.2

33.3

38.6

A. Petroleum, Petroleum Products & Related Material

37,475.3

49,829.2

73,735.7

33.0

48.0

B. Bulk Consumption Goods

3,652.6

4,463.9

5,714.4

22.2

28.0

1. Wheat

0.0

51.1

0.0

2. Cereals & Cereal Preparations

21.9

26.2

35.2

19.7

34.2

3. Edible Oil

2,472.4

3,091.2

4,824.1

25.0

56.1

4. Pulses

781.0

830.1

808.8

6.3

-2.6

5. Sugar

377.3

465.3

46.3

23.3

-90.0

C. Other Bulk Items

13,826.9

18,958.9

22,052.1

37.1

16.3

1. Fertilisers

3,426.6

4,510.0

4,118.0

31.6

-8.7

a) Crude

318.1

357.6

607.1

12.4

69.8

b) Sulphur & Unroasted Iron Pyrites

49.5

107.3

235.0

116.9

119.0

c) Manufactured

3,059.1

4,045.1

3,275.9

32.2

-19.0

2. Non-Ferrous Metals

1,501.3

2,028.5

2,703.7

35.1

33.3

3. Paper, Paperboard & Mgfd. incl. Newsprint

697.2

1,009.9

1,282.0

44.9

26.9

4. Crude Rubber, incl. Synthetic & Reclaimed

481.4

911.5

1,314.0

89.3

44.1

5. Pulp & Waste Paper

389.4

568.2

657.3

45.9

15.7

6. Metalliferrous Ores & Metal Scrap etc.

3,448.6

4,447.4

6,408.9

29.0

44.1

7. Iron & Steel

3,882.4

5,483.3

5,568.2

41.2

1.5

II. Non-Bulk Imports

73,176.6

103,108.1

134,933.1

40.9

30.9

A. Capital Goods

31,859.0

37,295.9

46,580.0

17.1

24.9

1. Manufactures of Metals

1,147.4

1,437.3

1,902.2

25.3

32.4

2. Machine Tools

793.5

986.6

1,504.6

24.3

52.5

3. Machinery except Electrical & Electronics

9,396.4

11,413.4

14,862.1

21.5

30.2

4. Electrical Machinery except Electronics

1,521.8

1,815.3

2,350.2

19.3

29.5

5. Electronic Goods incl. Computer Software

11,534.3

13,787.8

17,837.2

19.5

29.4

6. Transport Equipment

5,408.5

4,854.2

4,232.1

-10.2

-12.8

7. Project Goods

2,057.1

3,001.3

3,891.7

45.9

29.7

B. Mainly Export Related Items

12,771.8

24,434.3

26,068.0

91.3

6.7

Of which :

 

 

 

 

 

1. Pearl Precious Semi-Precious Stones

5,458.3

14,923.4

14,052.0

173.4

-5.8

2. Chemicals, Organic & Inorganic

5,652.6

7,553.6

9,303.5

33.6

23.2

3. Textile Yarn, Fabric, etc.

1,254.1

1,606.2

1,944.2

28.1

21.0

4. Cashew Nuts

406.9

351.2

763.9

-13.7

117.5

C. Others

28,545.8

41,377.9

62,285.2

45.0

50.5

Of which :

 

 

 

 

 

1. Gold & Silver

11,625.8

18,081.8

31,243.7

55.5

72.8

2. Artificial Resins & Plastic Materials etc.

2,397.7

3,505.3

3,563.9

46.2

1.7

3. Professional Instruments etc., except Electrical

1,811.3

2,192.9

2,571.0

21.1

17.2

4. Coal, Coke & Briquettes etc.

4,205.3

5,873.6

8,611.0

39.7

46.6

5. Medicinal & Pharmaceutical Products

991.3

1,246.5

1,361.7

25.7

9.2

6. Chemical Material & Products

1,105.3

1,514.5

1,918.4

37.0

26.7

7. Non-Metallic Mineral Manufactures

515.3

752.3

999.4

46.0

32.8

Total Imports

128,131.4

176,360.1

236,435.3

37.6

34.1

Memo Items

 

 

 

 

 

Non-Oil Imports

90,656.1

126,530.9

162,699.6

39.6

28.6

Non-Oil Imports excl. Gold & Silver

79,030.3

108,449.1

131,455.9

37.2

21.2

Mainly Industrial Inputs*

70,507.3

97,747.1

119,894.6

38.6

22.7

P : Provisional. R : Revised.
* : Non oil imports net of gold and silver, bulk consumption goods, manufactured fertilisers and professional instruments.
Source : DGCI & S.


Statement 5: Direction of India's Foreign Trade-Imports

( US $ million)

Group/Country

April-September

Percentage Variation

2009-10

2010-11R

2011-12 P

(3)/(2)

(4)/(3)

1

2

3

4

5

6

I. O E C D Countries

43,334.1

53,373.2

68,182.7

23.2

27.7

A. European Union

17,658.2

20,825.9

27,160.4

17.9

30.4

Of which :

 

 

 

 

 

1. Belgium

2,507.1

3,919.2

4,265.8

56.3

8.8

2. France

1,858.1

1,842.6

1,825.6

-0.8

-0.9

3. Germany

4,963.6

5,603.1

7,640.9

12.9

36.4

4. Italy

1,773.2

2,090.3

2,796.1

17.9

33.8

5. Netherlands

869.0

814.6

1,061.3

-6.3

30.3

6. U K

2,116.4

2,410.5

3,685.2

13.9

52.9

B. North America

9,961.4

11,303.1

11,976.6

13.5

6.0

1. Canada

978.1

1,087.3

1,018.2

11.2

-6.4

2. U S A

8,983.3

10,215.8

10,958.4

13.7

7.3

C. Asia and Oceania

8,818.1

10,824.0

12,814.8

22.7

18.4

Of which :

 

 

 

 

 

1. Australia

5,424.7

6,259.4

6,911.4

15.4

10.4

2. Japan

3,156.1

4,205.1

5,545.7

33.2

31.9

D. Other O E C D Countries

6,896.4

10,420.2

16,231.0

51.1

55.8

Of which :

 

 

 

 

 

1. Switzerland

5,454.3

9,715.1

15,543.6

78.1

60.0

II. O P E C

38,588.3

57,818.4

80,812.1

49.8

39.8

Of which :

 

 

 

 

 

1. Indonesia

4,110.5

4,510.1

7,227.4

9.7

60.3

2. Iran

5,656.0

4,994.9

5,143.0

-11.7

3.0

3. Iraq

2,993.1

3,409.2

9,155.8

13.9

168.6

4. Kuwait

3,592.8

4,461.3

6,561.1

24.2

47.1

5. Saudi Arabia

7,080.7

9,811.9

13,934.9

38.6

42.0

6. U A E

7,212.5

16,231.5

17,663.6

125.0

8.8

III. Eastern Europe

2,939.1

3,294.0

3,202.9

12.1

-2.8

Of which :

 

 

 

 

 

1. Russia

1,789.5

2,149.9

1,865.4

20.1

-13.2

IV. Developing Countries

42,449.4

60,354.6

77,083.8

42.2

27.7

A. Asia

33,796.6

48,778.8

61,523.1

44.3

26.1

a) S A A R C

740.3

945.6

1,196.6

27.7

26.5

1. Afghanistan

40.2

51.8

35.7

28.7

-31.0

2. Bangladesh

114.7

157.8

291.1

37.6

84.5

3. Bhutan

64.8

88.2

94.6

36.2

7.2

4. Maldives

1.3

29.7

12.7

-

-57.2

5. Nepal

233.4

252.1

155.9

8.0

-38.2

6. Pakistan

124.1

175.5

186.6

41.4

6.3

7. Sri Lanka

161.8

190.4

419.9

17.7

120.5

b) Other Asian Developing Countries

33,056.4

47,833.2

60,326.5

44.7

26.1

Of which :

 

 

 

 

 

1. People’s Republic of China

14,942.8

21,646.8

27,644.0

44.9

27.7

2. Hong Kong

1,647.2

3,910.4

5,314.0

137.4

35.9

3. South Korea

3,714.8

5,060.9

5,962.8

36.2

17.8

4. Malaysia

2,367.6

3,185.2

4,698.1

34.5

47.5

5. Singapore

3,060.7

3,874.4

4,726.9

26.6

22.0

6. Thailand

1,415.6

2,078.6

2,614.7

46.8

25.8

B. Africa

5,761.1

7,214.8

9,712.1

25.2

34.6

Of which :

 

 

 

 

 

1. Benin

104.4

98.6

237.0

-5.5

140.3

2. Egypt Arab Republic

859.2

597.1

1,629.4

-30.5

172.9

3. Kenya

41.8

63.9

65.0

52.9

1.7

4. South Africa

2,722.3

3,824.3

5,045.9

40.5

31.9

5. Sudan

206.0

273.8

280.7

32.9

2.5

6. Tanzania

79.8

78.0

66.6

-2.2

-14.7

7. Zambia

32.4

13.6

44.6

-57.9

227.0

C. Latin American Countries

2,891.8

4,361.0

5,848.6

50.8

34.1

V. Others

191.4

169.0

2,781.8

-11.7

1,545.6

VI. Unspecified

629.0

1,350.9

4,372.1

114.8

223.6

Total Imports

128,131.4

176,360.1

236,435.3

37.6

34.1

P : Provisional. R : Revised. Neg. : Negligible.
Source:DGCI&S.



* Prepared in the Division of International Trade and Finance, Department of Economic and Policy Research. The previous edition of the article was published in the Reserve Bank Bulletin, December 2011.


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