Sakthivel says July exports highest in nine years
The export sector has demonstrated its strength and resilience with a sustained growth in July shipments of about 48% valued at US$35.17 billion over FY’ 2020-21 and by 34% over FY’ 2019-20, FIEO President Dr A Sakthivel said in welcoming improving trade environment.
This is the highest-ever exports (for July) recorded at least in the previous 9 years as per the data readily available with FIEO. It also is a sign that global trade is recovering fast, added Dr Sakthivel.
FIEO Chief reiterated that the global demand during this period has also remained buoyant as the order booking positions of the exporters have still been impressive.
India’s merchandise exports in July 2021 was US$35.17 billion, an increase of 47.91% over US$23.78 billion in July 2020 and an increase of 34.06% over US$26.23 billion in July 2019. India’s merchandise exports in Apr-July 2021 was US$130.53 billion, an increase of 73.51% over US$75.22 billion in Apr-July 2020 and an increase of 21.82% over US$107.15 billion in Apr-July 2019.
He complimented exporters who have not only continuously performed impressively during these difficult times but have also been able to showcase that the government’s vision of Atma Nirbhar Bharat has given a boost to the sector.
Value of non-petroleum and non-gems and jewellery exports in July 2021 was US$26.11 billion, registering a positive growth of 27.36% over non-petroleum and non-gems and jewellery exports of US$20.5 billion in July 2020 and a positive growth of 32.25% over non-petroleum and non-gems and jewellery exports of US$19.75 billion in July 2019.
Value of non-oil, non-GJ (gold, silver & Precious metals) imports was US$26.66 billion in July 2021 with a positive growth of 35.11% over non-oil and non-GJ imports of US$19.73 billion in July 2020 but had a marginal negative growth of 0.17% over non-oil and non-GJ imports of US$26.7 billion in July 2019.
Top 5 commodity groups of export which have recorded positive growth during July 2021 vis-à-vis July 2020 are: Petroleum Products (215.68%), Gems and Jewellery (130.44%), Other Cereals (70.25%), Man-made Yarn/Fabrics/Made-ups etc (58.67%) and Cotton Yarn/Fabrics/Made-ups, Handloom Products etc (48.02%).
Major commodity groups of import showing positive growth in July 2021 over July 2020 are:
Sulphur & Unroasted Iron Pyrites (355.57%), Pulp and Waste paper (227.6%), Pearls, precious & Semi-precious stones (179.32%), Gold (135.56%), Non-ferrous metals (121.31%), Cotton Raw & Waste (115.19%), Coal, Coke & Briquettes, etc. (106.09%), Petroleum, Crude & products (97.06%), Wood & Wood products (94.03%), Iron & Steel (75.61%), Metaliferrous ores & other minerals (71.8%), Fertilisers, Crude & manufactured (70.8%), Pulses (65.35%), Artificial resins, plastic materials, etc. (61.33%), Dyeing/tanning/colouring materials (54.42%), Organic & Inorganic Chemicals (46.59%), Textile yarn Fabric, made-up articles (43.96%), Fruits & vegetables (36.9%), Chemical material & products (34.53%), Machinery, electrical & non-electrical (31.56%), Leather & leather products (30.59%), Machine tools (30.47%), Professional instrument, Optical goods, etc. (27.52%), Vegetable Oil (24.13%), Electronic goods (10.68%) and Medicinal & Pharmaceutical products (7.3%).
Only four commodity groups of import have shown a fall in July 2021 vis-à-vis July 2020. These are: Silver (-89.16%), Project Goods (-78.63%), Transport Equipment (-16.08%) and Newsprint (-3.49%). #exports #economy #manufacturing #investment /fiinews.com
