India’s Foreign Trade : 2009-10 (April - February)

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ਪ੍ਰਕਾਸ਼ਿਤ ਤਾਰੀਖ ਮਈ 12, 2010

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India’s Foreign Trade : 2009-10 (April - February)

India’s Foreign Trade: 2009-10 (April-February)*

This article reviews India’s merchandise trade performance during 2009-10 (April-February) on the basis of data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S); disaggregated commodity-wise details for the period April-September 2009 are also analysed.

Highlights

India’s merchandise exports during February 2010 at US$ 16.1 billion recorded a growth of 34.8 per cent as compared with a decline of 21.0 per cent registered in February 2009. After a continuous decline during October 2008 to September 2009, exports turned around in October 2009 by exhibiting an increase of 0.8 per cent and the positive growth in exports continued thereafter (monthly average growth of 23.2 per cent during November 2009 to February 2010). This trend indicated stability in improved performance of exports.
During 2009-10 (April-February) exports stood at US$ 152.7 billion, posting a decline of 11.4 per cent as against a growth of 18.2 per cent during the corresponding period of 2008-09.
Imports during February 2010 at US$ 25.1 billion showed a high growth of 66.4 per cent as against a decline of 27.6 per cent recorded in February 2009. This was due to growth in both petroleum, oil and lubricants (POL) and non-POL imports. After a continuous decline for eleven months, imports turned around in November 2009 by exhibiting an increase of 2.6 per cent.The positive growth in imports continued thereafter (monthly average growth of 44.7 per cent during December 2009 to February 2010).
During 2009-10 (April-February), imports at US$ 247.8 billion recorded a decline of 13.7 per cent as against a growth of 25.9 per cent a year ago.
Petroleum, oil and lubricants (POL) imports at US$ 73.1 billion during 2009- 10 (April-February) showed a decline of 18.4 per cent, as against a growth of 26.6 per cent a year ago, primarily due to reduction in international crude oil prices over the period. The average price of Indian basket of crude oil during 2009-10 (April-February) stood at US$ 68.9 per barrel (ranged between US$ 50.1–77.4 per barrel), which was lower by 20.0 per cent than US$ 86.1 per barrel (ranged between US$ 40.6 – 132.5 per barrel) during 2008-09 (April- February).
Non-POL imports during 2009-10 (April- February) at US$ 174.8 billion registered a decline of 11.6 per cent as against a growth of 25.6 per cent a year ago.
Trade deficit during 2009-10 (April- February) amounted to US$ 95.1 billion, thereby showing a decline of US$ 19.6 billion (17.1 per cent) over US$ 114.7 billion during 2008-09 (April-February), primarily due to decline in both oil and non-oil imports.
Trade deficit on oil account during April-September 2009 stood at US$ 26.8 billion, which was lower by US$ 17.8 billion than US$ 44.6 billion a year ago. Trade deficit on non-oil account during this period amounted to US$ 19.6 billion, which was lower by US$ 11.9 billion than US$ 31.5 billion in April- September 2008.

India’s Merchandise Trade during 2009-10 (April-February)

Exports

India’s merchandise exports during February 2010 at US$ 16.1 billion recorded a growth of 34.8 per cent as compared with a decline of 21.0 per cent registered in February 2009 (Statement 1). The decline in exports which began since October 2008 continued for twelve consecutive months. The rates of decline in exports showed persistent moderation since June 2009 and in October 2009, exports turned around by exhibiting an increase of 0.8 per cent. The positive growth in exports continued thereafter (monthly average growth of 23.2 per cent during November 2009 to February 2010). Also, the increase in exports was consistent with the uptrend in world commodity prices. All this indicated stability in improved performance of exports (Chart 1). Cumulatively, exports during 2009-10 (April-February) stood at US$ 152.7 billion, posting a decline of 11.4 per cent as against a growth of 18.2 per cent during 2008-09 (April-February) [Table 1 and Statement 2].

The commodity-wise exports data released by DGCI&S for April-September 2009 revealed that manufactured goods maintained the largest share at 69.4 per cent, followed by petroleum products (13.6 per cent) and primary products (13.4 per cent). Moreover, the share of manufactured goods has increased while the shares of petroleum products and primary products have witnessed a decline (Table 2).

During April-September 2009, exports of all major commodity groups declined (Statement 3). Exports of primary products during April-September 2009 showed a decline of 29.3 per cent as against a high growth of 43.0 per cent a year ago, due to decline in its major components. Within primary products, agricultural and allied products exports at US$ 7.2 billion showed a decline of 30.6 per cent (growth of 50.8 per cent during the corresponding period of previous year). This was due to decline in most of its components. Exports of ores and minerals declined by 26.5 per cent as against a growth of 27.6 per cent a year ago, mainly due to decline in iron ore and processed minerals.

Table 1: India's Merchandise Trade: April-February
(US $ billion)
Items	2008-09 R		2009-10 P
Items	April- February
1	2		3
Exports		172.4		152.7
		(18.2)		(-11.4)
Oil Exports	25.4		..
	(4.4)
Non-Oil Exports	147.0		..
	(20.9)
Imports		287.1		247.8
		(25.9)		(-13.7)
Oil Imports	89.5		73.1
	(26.6)		(-18.4)
Non-Oil Imports	197.6		174.8
	(25.6)		(-11.6)
Trade Balance		-114.7		-95.1
Oil Trade Balance	-64.1		..
Non-Oil Trade Balance	-50.6		..
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.

Exports of manufactured goods during April-September 2009 at US$ 54.3 billion exhibited a decline of 23.0 per cent in contrast with a high growth of 46.4 per cent a year ago, attributable to a contraction in its major components. Within manufactured goods, exports of engineering goods at US$ 18.6 billion declined by 31.3 per cent against a high growth of 58.1 per cent a year ago. All the major constituents of enginnering goods such as machinery and instruments, manufacture of metals, transport equipments, electronic goods and iron and steel witnessed a decline during this period.

Table 2: India's Exports of Principal Commodities
(Percentage Shares)
Commodity Group		2007-08	2008-09	2008-09	2009-10
Commodity Group		April-March		April-September
1		2	3	4	5
I.	Primary Products	16.9	13.7	13.6	13.4
	Agriculture and Allied Products	11.3	9.5	9.5	9.2
	Ores and Minerals	5.6	4.2	4.1	4.2
II.	Manufactured Goods	63.2	66.5	64.8	69.4
	Leather and Manufactures	2.2	1.9	1.9	2.1
	Chemicals and Related Products	13.0	12.3	11.5	13.0
	Engineering Goods	22.9	25.5	24.9	23.8
	Textiles and Textile Products	11.9	10.8	9.7	11.9
	Gems and Jewellery	12.1	15.1	15.9	17.6
III.	Petroleum Products	17.4	14.5	17.2	13.6
IV.	Others	2.5	5.3	4.4	3.6
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Gems and jewellery exports during April- September 2009 at US$ 13.7 billion recorded a sharp decline of 20.9 per cent as against a high growth of 81.3 per cent during the corresponding period of the previous year. Chemicals and related products exports during April-September 2009 at US$ 10.2 billion showed a decline of 19.0 per cent (a growth of 31.5 per cent during April-September 2008). The decline in the exports of chemicals and related products was led by a fall in exports of its largest component, viz., ‘basic chemicals, pharmaceuticals and cosmetics’ as also in other components. Exports of textiles and textile products during April-September 2009 at US$ 9.3 billion exhibited a decline of 11.6 per cent as against a growth of 13.6 per cent a year ago. This was because of decline in the exports of its major components such as readymade garments and cotton yarn, fabrics, made-ups.

Exports of petroleum products at US$ 10.7 billion during April-September 2009 registered a decline of 43.0 per cent as against a growth of 47.4 per cent a year ago. This occurred in the aftermath of sharp decline in world oil prices during April- September 2009 over April-September 2008 (Chart 3). However, the volume of these exports grew by 4.1 per cent during the period as compared with a decline of 9.9 per cent during April-September 2008.

Destination-wise, during April-September 2009, among the regions, developing countries and OECD countries were the major markets for India’s exports with these groups accounting for 37.9 per cent and 36.6 per cent shares, respectively (Table 3). Another major contributor was OPEC with the share of 23.3 per cent. During April-September 2009, the shares of OECD and OPEC increased while that of developing countries declined marginally. Country-wise, the UAE was the largest destination for India in April- September 2009, with a share of 14.1 per cent in India’s total exports. It was followed by the US (11.4 per cent), China (5.1 per cent), Hong Kong (4.7 per cent), Singapore (4.3 per cent), the UK (3.7 per cent), the Netherlands (3.6 per cent) and Germany (3.1 per cent). Direction of India’s exports during April- September 2009 indicated that exports to all major markets, such as the EU, OPEC and developing countries declined (Statement 4).

Table 3: India’s Exports to Principal Regions
(Percentage Shares)
Region/Country		2007-08	2008-09	2008-09	2009-10
Region/Country		April-March		April-September
1		2	3	4	5
I.	OECD Countries	39.5	36.9	35.5	36.6
	EU	21.2	21.0	20.2	20.2
	North America	13.5	12.1	11.5	12.1
	US	12.7	11.3	10.8	11.4
	Asia and Oceania	3.2	2.5	2.4	2.9
	Other OECD Countries	1.6	1.4	1.5	1.4
II.	OPEC	16.6	21.0	22.4	23.3
III.	Eastern Europe	1.1	1.1	1.1	1.0
IV.	Developing Countries	42.5	37.0	38.0	37.9
	Asia	31.6	27.7	28.0	28.8
	SAARC	5.9	4.6	4.6	4.6
	Other Asian Developing Countries	25.7	23.1	23.3	24.2
	People’s Republic of China	6.6	5.0	4.6	5.1
	Africa	7.5	6.2	6.7	6.3
	Latin America	3.4	3.1	3.4	2.9
V.	Others / Unspecified	0.3	4.0	3.0	1.2
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Imports

Imports during February 2010 at US$ 25.1 billion showed a high growth of 66.4 per cent as against a decline of 27.6 per cent recorded in February 2009. This was due to growth in both petroleum, oil and lubricants (POL) and non-POL imports (Statement 1).

Imports started falling since December 2008 and witnessed a sharp improvement in rate of decline in October 2009 (from a decline of 34.0 per cent in September 2009 to a decline of 2.7 per cent in October 2009). After a continuous decline for eleven months, imports turned around in November 2009 by exhibiting an increase of 2.6 per cent. The positive growth in imports continued thereafter (monthly average growth of 44.7 per cent during December 2009 to February 2010). During 2009-10 (April-February) imports at US$ 247.8 billion registered a decline of 13.7 per cent (25.9 per cent growth a year ago) [Table 1 and Statement 2].

POL imports at US$ 73.1 billion during 2009-10 (April-February) showed a decline of 18.4 per cent, as against a growth of 26.6 per cent a year ago, primarily due to reduction in international crude oil prices over the period. The average price of Indian basket of crude oil during 2009-10 (April- February) stood at US$ 68.9 per barrel (ranged between US$ 50.1–77.4 per barrel), which was lower by 20.0 per cent than US$ 86.1 per barrel (ranged between US$ 40.6 – 132.5 per barrel) during 2008-09 (April- February) (Table 4). Non-POL imports at US$ 174.8 billion recorded a fall of 11.6 per cent during 2009-10 (April-February) as against a growth of 25.6 per cent in 2008-09 (April- February).

The commodity-wise imports data for April-September 2009 indicated that POL imports at US$ 37.4 billion showed a decline of 40.8 per cent as against a high growth of 83.0 per cent a year ago, mainly due to sharp reduction in international crude oil prices over the period (Statement 5). The volume of POL imports, however, showed a growth of 10.4 per cent as against a growth of 9.9 per cent a year ago.

Table 4: Trends in Crude Oil Prices
(US $/barrel)
Period	Dubai	Brent	WTI*	IndianBasket**
1	2	3	4	5
2000-01	25.9	28.1	30.3	26.8
2001-02	21.8	23.2	24.1	22.4
2002-03	25.9	27.6	29.2	26.6
2003-04	26.9	29.0	31.4	27.8
2004-05	36.4	42.2	45.0	39.2
2005-06	53.4	58.0	59.9	55.7
2006-07	60.9	64.4	64.7	62.4
2007-08	77.3	82.4	82.3	79.5
2008-09	82.1	84.7	85.8	82.7
February 2009	43.1	43.2	39.2	43.2
February 2010	73.6	74.3	76.4	73.8
* West Texas Intermediate. ** The composition of Indian basket of crude represents average of Oman and Dubai for sour grades and Brent (dated) for sweet grade in the ratio of 63.5:36.5 w.e.f. April 1, 2009. Sources: International Monetary Fund, International Financial Statistics; World Bank’s Commodity Price Pink Sheet for March 2010; Ministry of Petroleum and Natural Gas, Government of India.

Non-POL imports during April- September 2009 at US$ 87.2 billion witnessed a decline of 28.4 per cent as against a high growth of 43.8 per cent during the corresponding period of 2008. Slowdown in non-POL imports was mainly due to sharp decline in imports of capital goods (decline of 25.0 per cent as against a growth of 53.7 per cent in April-September 2008), pearls, precious and semi-precious stones (fall of 47.7 per cent as against a high growth of 122.2 per cent during April-September 2008), gold and silver (fall of 24.6 per cent as against a growth of 32.3 per cent during April- September 2008), fertilisers, non-ferrous metals, chemicals, iron and steel, metalliferrous ores and metal scrap and coal, coke and briquettes. However, imports of edible oil, pulses and project goods showed high growth. During April-September 2009 the shares of capital goods, gold and silver, organic and inorganic chemicals, coal, coke and briquettes, and iron and steel in total imports went up, while those of petroleum, crude and products, pearls, precious and semi-precious stones and fertilisers came down (Table 5).

Table 5: Imports of Principal Commodities
(Percentage Shares)
Commodity/Group		2007-08	2008-09	2008-09	2009-10
Commodity/Group		April-March		April-September
1		2	3	4	5
1.	Petroleum, Crude and Products	31.7	30.1	34.2	30.0
2.	Capital Goods	27.9	23.6	21.1	23.5
3.	Gold and Silver	7.1	7.2	8.3	9.3
4.	Organic and Inorganic Chemicals	3.9	4.0	4.1	4.5
5.	Coal, Coke and Briquettes, etc.	2.6	3.3	3.1	3.3
6.	Fertilisers	2.2	4.5	4.4	2.6
7.	Metalliferrous Ores, Metal Scrap, etc.	3.1	2.6	2.7	2.5
8.	Iron and Steel	3.5	3.1	2.8	3.1
9.	Pearls, Precious and Semi-Precious Stones	3.2	5.5	5.7	4.4
10.	Others	14.8	16.1	13.6	16.8
Total Imports		100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Source-wise, during April-September 2009, developing countries had the highest share in India’s total imports (33.6 per cent), followed by OECD countries (32.7 per cent) and OPEC (30.7 per cent) [Table 6]. The shares of developing countries and OECD countries increased, while that of OPEC declined during the period. Country-wise, China continued to be the single largest source of imports with the share of 12.0 per cent in total imports, followed by the US (6.0 per cent), the UAE (5.8 per cent), Saudi Arabia (5.7 per cent), Iran (4.5 per cent), Switzerland (4.4 per cent), Australia (4.3 per cent), and Germany (3.8 per cent). Direction of India’s imports during April-September 2009 indicated that imports from all the major regions declined (Statement 6).

Table 6: Shares of Groups/Countries in India’s Imports
(Percentage Shares)
Region/Country	2007-08	2008-09	2008-09	2009-10
Region/Country	April-March		April-September
1	2	3	4	5
I. OECD Countries	35.4	31.7	31.1	32.7
EU	15.3	13.9	13.4	13.5
France	2.5	1.5	1.5	1.1
Germany	3.9	3.9	3.4	3.8
UK	2.0	1.9	1.8	1.7
North America	9.1	6.9	6.2	6.7
US	8.4	6.1	5.5	6.0
Asia and Oceania	5.8	6.3	6.0	7.0
Other OECD Countries	5.2	4.6	5.5	5.5
II. OPEC	30.7	32.1	35.8	30.7
III. Eastern Europe	1.5	2.2	2.0	2.3
IV. Developing Countries	31.5	31.9	30.7	33.6
Asia	25.5	25.9	25.0	26.9
SAARC	0.8	0.6	0.6	0.6
Other Asian Developing Countries	24.7	25.3	24.4	26.3
of which:
People’s Republic of China	10.8	10.6	10.2	12.0
Africa	3.7	4.1	4.2	4.5
Latin America	2.3	1.9	1.5	2.3
V. Others / Unspecified	0.9	2.1	0.4	0.7
Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Trade Deficit

Trade deficit during 2009-10 (April- February) amounted to US$ 95.1 billion, which was lower by US$ 19.6 billion (17.1 per cent) than US$ 114.7 billion a year ago, due to relatively larger decline in imports than exports during the period (Statement 2 and Chart 1).

Trade deficit on oil account during April-September 2009 stood at US$ 26.8 billion, which was lower by US$ 17.8 billion than US$ 44.6 billion a year ago. Trade deficit on non-oil account during this period amounted to US$ 19.6 billion, which was lower by US$ 11.9 billion than US$ 31.5 billion in April-September 2008.

Global Trade

World merchandise exports which declined since November 2008 as an outcome of global economic crisis, started recovering since May 2009 with reduction in the rates of decline and turned around in November 2009. According to the latest monthly data from International Monetary Fund’s (IMF) International Financial Statistics (IFS), in December 2009 the world exports showed a positive growth of 14.4 per cent. This was in line with the rise in world commodity prices. There has been strong convergence among the world exports and the exports of advanced economies and emerging and developing economies since May 2009 to November 2009 (Chart 2). The world merchandise exports during 2009, in dollar terms, showed a decline of 20.6 per cent as against a growth of 15.9 per cent a year ago (Table 7). During the same period, exports of advanced economies declined by 21.6 per cent in contrast with a growth of 11.0 per cent a year back, and the exports of emerging and developing economies declined by 19.2 per cent as against a growth of 25.1 per cent a year ago.

Table 7: Growth in Exports – Global Scenario
(Per Cent)
Region/Country	2007		2008		2009
Region/Country	January-December
1	2		3		4
World		14.1		15.9		-20.6
Advanced Economies		13.5		11.0		-21.6
US	12.0		12.1		-17.9
France	12.3		10.1		-22.2
Germany	18.0		9.6		-22.3
Japan	7.8		12.3		-26.1
Emerging and Developing Economies		15.3		25.1		-19.2
Singapore	10.1		13.0		-20.2
China	25.6		17.3		-15.9
India	23.3		29.7		-17.7
Indonesia	14.7		16.9		-13.7
Korea	14.1		13.6		-13.9
Malaysia	9.6		13.3		-21.1
Thailand	17.1		14.3		-13.6
Sources: (1) IMF (www.imfstatistics.org). (2) DGCI&S for India.

World Commodity Prices

According to IMF’s IFS, the world commodity prices which started falling since October 2008 witnessed substantially higher rates of decline during subsequent months. However, the rates of decline in prices progressively moderated since August 2009 and the commodity prices, in fact, showed a rise since November 2009. In February 2010, the commodity prices showed a rise of 44.4 per cent (Chart 3). During this month, the prices of energy, food and metals increased by 56.1 per cent, 12.5 per cent and 55.8 per cent, respectively.

Statement 1 : India’s Foreign Trade - February 2010
Year	Exports			Imports			Trade Balance
Year	Total	Oil	Non-Oil	Total	Oil	Non-Oil	Total	Oil	Non-Oil
1	2	3	4	5	6	7	8	9	10
Rupees crore
2007-08	60,061	9,453	50,608	82,661	30,645	52,016	-22,601	-21,192	-1,409
	(28.8)	(67.5)	(23.5)	(29.2)	(54.4)	(17.9)
2008-09 R	58,822	5,915	52907	74,198	16,188	58,010	-15,376	-10,273	-5,103
	(-2.1)	(-37.4)	(4.5)	(-10.2)	(-47.2)	(11.5)
2009-10 P	74,547	..	..	116,082	35,376	80,706	-41,535	..	..
	(26.7)			(56.4)	(118.5)	(39.1)
US dollar million
2007-08	15,116	2,379	12,737	20,804	7,713	13,092	-5,688	-5,334	-355
	(43.1)	(86.1)	(37.2)	(43.6)	(71.6)	(31.1)
2008-09 R	11,941	1,201	10740	15,062	3,869	11,193	-3,121	-2,668	-453
	(-21.0)	(-49.5)	(-15.7)	(-27.6)	(-49.8)	(-14.5)
2009-10 P	16,091	..	..	25,057	7,636	17,421	-8,965	..	..
	(34.8)			(66.4)	(97.4)	(55.6)
P : Provisional. R : Revised. .. Not available. Note : Figures in brackets relate to percentage variation over the corresponding period of the previous year. Source : DGCI & S.

Statement 2 : India’s Foreign Trade
Year	Exports			Imports			Trade Balance
Year	Total	Oil	Non-Oil	Total	Oil	Non-Oil	Total	Oil	Non-Oil
1	2	3	4	5	6	7	8	9	10
April-March
Rupees crore
2006-07	571,779	84,520	487,259	840,506	258,572	581,935	-268,727	-174,052	-94,675
	(25.3)	(64.0)	(20.3)	(27.3)	(32.8)	(24.9)
2007-08 R	655,864	114,192	541,672	1,012,312	320,655	691,657	-356,448	-206,463	-149,985
	(14.7)	(35.1)	(11.2)	(20.4)	(24.0)	(18.9)
2008-09 P	840,755	123,398	717,357	1,374,435	419,946	954,489	-533,680	-296,548	-237,132
	(28.2)	(8.1)	(32.4)	(35.8)	(31.0)	(38.0)
US dollar million
2006-07	126,414	18,635	107,780	185,735	56,945	128,790	-59,321	-38,311	-21,010
	(22.6)	(60.1)	(17.9)	(24.5)	(29.5)	(22.4)
2007-08 R	162,904	28,363	134,541	251,439	79,645	171,795	-88,535	-51,281	-37,254
	(28.9)	(52.2)	(24.8)	(35.4)	(39.9)	(33.4)
2008-09 P	185,295	26,830	158,466	303,696	91,306	212,390	-118,401	-64,476	-53,925
	(13.7)	(-5.4)	(17.8)	(20.8)	(14.6)	(23.6)
April-February
Rupees crore
2007-08	577,889	97,803	480,086	870,399	284,029	586,369	-292,509	-186,226	-106,283
	(12.2)	(26.5)	(9.6)	(13.8)	(20.0)	(11.0)
2008-09 R	774,586	115,554	659,032	1,289,412	393,072	896,340	-514,826	-277,518	-237,308
	(34.0)	(18.1)	(37.3)	(48.1)	(38.4)	(52.9)
2009-10 P	727,346	..	..	1,180,124	347,910	832,214	-452,778	..	..
	(-6.1)			(-8.5)	(-11.5)	(-7.2)
US dollar million
2007-08	145,878	24,309	121,570	228,080	70,704	157,376	-82,202	-46,396	-35,807
	(28.5)	(43.0)	(25.9)	(35.3)	(35.8)	(35.0)
2008-09 R	172,379	25,387	146,992	287,100	89,492	197,608	-114,721	-64,105	-50,616
	(18.2)	(4.4)	(20.9)	(25.9)	(26.6)	(25.6)	(39.6)
2009-10 P	152,739	..	..	247,820	73,059	174,761	-95,081	..	..
	(-11.4)			(-13.7)	(-18.4)	(-11.6)	(-17.1)
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 3 : India’s Exports of Principal Commodities
(US $ million)
Commodity/Group		April-September			Percentage Variation
Commodity/Group		2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	Primary Products	10,344.6	14,793.4	10,453.4	43.0	-29.3
		(14.1)	(13.6)	(13.4)
	A. Agricultural & Allied Products	6,856.7	10,341.4	7,179.0	50.8	-30.6
	of which :	(9.3)	(9.5)	(9.2)
	1. Tea	223.8	318.6	261.6	42.4	-17.9
	2. Coffee	210.3	293.7	193.5	39.7	-34.1
	3. Rice	1,169.7	1,413.6	1,336.3	20.9	-5.5
	4. Wheat	0.0	0.1	0.0	-	-
	5. Cotton Raw incl. Waste	250.5	386.9	259.1	54.5	-33.0
	6. Tobacco	227.3	390.2	457.0	71.7	17.1
	7. Cashew incl. CNSL	256.5	376.2	279.8	46.7	-25.6
	8. Spices	636.4	772.5	572.1	21.4	-25.9
	9. Oil Meal	446.6	1,119.4	663.8	150.7	-40.7
	10. Marine Products	854.1	775.4	752.8	-9.2	-2.9
	11. Sugar & Molasses	620.3	972.7	13.7	56.8	-98.6
	B. Ores & Minerals	3,487.9	4,452.0	3,274.4	27.6	-26.5
	of which :	(4.7)	(4.1)	(4.2)
	1. Iron Ore	1,863.1	2,507.7	2,024.2	34.6	-19.3
	2. Processed Minerals	631.8	824.1	590.5	30.4	-28.3
II.	Manufactured Goods	48,201.6	70,569.5	54,321.4	46.4	-23.0
	of which :	(65.5)	(64.8)	(69.4)
	A. Leather & Manufactures	1,713.8	2,015.6	1,608.4	17.6	-20.2
	B. Chemicals & Related Products	9,548.4	12,555.4	10,170.5	31.5	-19.0
	1. Basic Chemicals, Pharmaceuticals & Cosmetics	6,245.5	8,407.8	7,049.5	34.6	-16.2
	2. Plastic & Linoleum	1,549.9	1,829.1	1,447.0	18.0	-20.9
	3. Rubber, Glass, Paints & Enamels, etc.	1,366.3	1,675.7	1,225.3	22.6	-26.9
	4. Residual Chemicals & Allied Products	386.6	642.7	448.7	66.2	-30.2
	C. Engineering Goods	17,160.4	27,135.0	18,633.5	58.1	-31.3
	of which :
	1. Manufactures of Metals	3,104.7	4,082.2	2,710.0	31.5	-33.6
	2. Machinery & Instruments	4,167.4	5,903.2	4,578.4	41.7	-22.4
	3. Transport Equipments	3,135.3	5,963.1	5,129.9	90.2	-14.0
	4. Iron & Steel	2,662.9	4,163.5	1,467.0	56.4	-64.8
	5. Electronic Goods	1,511.1	3,641.3	3,016.6	141.0	-17.2
	D. Textiles and Textile Products	9,302.4	10,564.3	9,336.1	13.6	-11.6
	1. Cotton Yarn, Fabrics, Made-ups, etc.	2,178.9	2,352.6	1,550.3	8.0	-34.1
	2. Natural Silk Yarn, Fabrics Made-ups, etc.	191.0	207.0	145.2	8.4	-29.9
	(incl.silk waste)
	3. Manmade Yarn, Fabrics, Made-ups, etc.	1,367.6	1,683.6	1,756.0	23.1	4.3
	4. Manmade Staple Fibre	111.7	156.7	152.8	40.3	-2.5
	5. Woollen Yarn, Fabrics, Made-ups, etc.	41.8	54.7	44.4	30.9	-18.8
	6. Readymade Garments	4,727.7	5,408.0	5,178.9	14.4	-4.2
	7. Jute & Jute Manufactures	160.4	185.4	110.9	15.6	-40.2
	8. Coir & Coir Manufactures	76.8	80.5	78.5	4.9	-2.5
	9. Carpets	446.5	435.7	319.2	-2.4	-26.7
	(a) Carpet Handmade	438.6	432.0	315.2	-1.5	-27.1
	(b) Carpet Millmade	0.0	0.0	0.0	—	—
	(c) Silk Carpets	7.9	3.7	4.0	-53.2	9.2
	E. Gems & Jewellery	9,579.3	17,368.5	13,736.8	81.3	-20.9
	F. Handicrafts	263.6	167.7	101.1	-36.4	-39.7
III.	Petroleum Products	12,700.3	18,721.4	10,664.5	47.4	-43.0
		(17.3)	(17.2)	(13.6)
IV.	Others	2,312.4	4,822.5	2,822.1	108.5	-41.5
		(3.1)	(4.4)	(3.6)
Total Exports		73,558.9	108,906.7	78,261.4	48.1	-28.1
P : Provisional. R : Revised. Note : Figures in brackets relate to percentage to total exports for the period. Source : DGCI&S.

Statement 4 : Direction of India’s Foreign Trade- Exports
(US $ million)
Group/Country	April-September			Percentage Variation
Group/Country	2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1	2	3	4	5	6
I. O E C D Countries	29,791.2	38,703.3	28,658.7	29.9	-26.0
A. E U	15,915.0	21,994.8	15,805.5	38.2	-28.1
of which:
1. Belgium	2,060.4	2,714.5	1,618.1	31.7	-40.4
2. France	1,191.0	1,633.5	1,439.5	37.1	-11.9
3. Germany	2,401.8	3,463.7	2,430.5	44.2	-29.8
4. Italy	1,870.1	2,191.0	1,460.7	17.2	-33.3
5. Netherlands	2,073.6	3,579.2	2,847.4	72.6	-20.4
6. U K	3,165.3	3,670.9	2,889.5	16.0	-21.3
B. North America	10,525.0	12,498.5	9,485.4	18.8	-24.1
1. Canada	600.2	725.4	545.8	20.9	-24.8
2. U S A	9,924.8	11,773.1	8,939.7	18.6	-24.1
C. Asia and Oceania	2,202.0	2,599.1	2,303.9	18.0	-11.4
of which:
1. Australia	529.5	800.2	655.9	51.1	-18.0
2. Japan	1,605.9	1,681.5	1,503.5	4.7	-10.6
D. Other O E C D Countries	1,149.2	1,610.8	1,063.9	40.2	-34.0
of which:
1. Switzerland	284.0	414.7	255.9	46.0	-38.3
II. O P E C	12,861.9	24,426.0	18,229.0	89.9	-25.4
of which:
1. Indonesia	779.3	1,598.0	1,577.0	105.0	-1.3
2. Iran	1,212.1	1,427.0	962.8	17.7	-32.5
3. Iraq	93.8	260.9	263.4	178.1	1.0
4. Kuwait	321.6	453.8	381.3	41.1	-16.0
5. Saudi Arabia	1,695.0	3,412.5	2,070.7	101.3	-39.3
6. U A E	7,507.4	15,414.6	11,070.7	105.3	-28.2
III. Eastern Europe	811.3	1,217.0	761.2	50.0	-37.5
of which:
1. Russia	421.0	671.1	419.4	59.4	-37.5
IV. Developing Countries	29,522.7	41,437.4	29,693.0	40.4	-28.3
of which:
A. Asia	21,339.6	30,468.5	22,549.2	42.8	-26.0
a) S A A R C	3,793.2	5,046.8	3,628.2	33.1	-28.1
1. Afghanistan	114.5	180.0	252.5	57.2	40.3
2. Bangladesh	1,051.3	1,485.5	1,053.3	41.3	-29.1
3. Bhutan	39.8	58.7	48.4	47.4	-17.5
4. Maldives	41.1	59.4	37.5	44.7	-36.8
5. Nepal	632.6	868.8	627.1	37.3	-27.8
6. Pakistan	786.2	841.9	799.2	7.1	-5.1
7. Sri Lanka	1,127.7	1,552.5	810.2	37.7	-47.8
b) Other Asian Developing Countries	17,546.4	25,421.7	18,921.0	44.9	-25.6
of which:
1. People’s Republic of China	3,883.8	4,958.2	3,996.8	27.7	-19.4
2. Hong Kong	2,912.4	3,817.4	3,709.6	31.1	-2.8
3. South Korea	1,103.9	1,981.1	1,320.1	79.5	-33.4
4. Malaysia	963.5	1,534.3	1,541.3	59.2	0.5
5. Singapore	3,065.2	5,685.2	3,374.1	85.5	-40.7
6. Thailand	872.6	1,245.6	773.2	42.7	-37.9
B. Africa	5,883.9	7,251.0	4,891.7	23.2	-32.5
of which:
1. Benin	104.7	104.7	92.6	0.0	-11.6
2. Egypt Arab Republic	640.1	1,128.7	603.6	76.3	-46.5
3. Kenya	581.6	848.1	746.9	45.8	-11.9
4. South Africa	1,302.8	1,209.4	1,050.3	-7.2	-13.2
5. Sudan	186.7	259.5	206.6	39.0	-20.4
6. Tanzania	285.2	646.0	444.6	126.5	-31.2
7. Zambia	79.6	61.6	38.6	-22.7	-37.4
C. Latin American Countries	2,299.3	3,717.9	2,252.1	61.7	-39.4
V. Others	450.0	480.2	279.1	6.7	-41.9
VI. Unspecified	121.7	2,642.9	640.4	—	-75.8
Total Exports	73,558.9	108,906.7	78,261.4	48.1	-28.1
P : Provisional. R : Revised. Source : DGCI & S.

Statement 5 : India’s Imports of Principal Commodities
(US $ million)
Commodity/Group		April-September			Percentage Variation
Commodity/Group		2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	Bulk Imports	50,509.2	90,313.9	54,314.5	78.8	-39.9
		(42.4)	(48.8)	(43.6)
	A. Petroleum, Petroleum Products	34,590.0	63,284.7	37,433.7	83.0	-40.8
	& Related Material	(29.0)	(34.2)	(30.0)
	B. Bulk Consumption Goods	2,041.4	2,011.6	3,578.8	-1.5	77.9
	1. Wheat	39.3	0.0	0.0	-	-
	2. Cereals & Cereal Preparations	17.0	22.4	21.8	32.2	-2.9
	3. Edible Oil	1,392.5	1,457.4	2,442.4	4.7	67.6
	4. Pulses	592.3	531.2	762.7	-10.3	43.6
	5. Sugar	0.4	0.6	352.0	-	-
	C. Other Bulk Items	13,877.7	25,017.6	13,301.9	80.3	-46.8
	1. Fertilisers	2,267.2	8,098.2	3,234.4	257.2	-60.1
	a) Crude	211.8	536.1	301.0	153.2	-43.9
	b) Sulphur & Unroasted Iron Pyrites	100.2	527.9	48.8	426.9	-90.7
	c) Manufactured	1,955.3	7,034.2	2,884.6	259.8	-59.0
	2. Non-Ferrous Metals	1,595.4	4,740.7	1,497.9	197.2	-68.4
	3. Paper, Paperboard & Mgfd. incl. Newsprint	683.3	986.1	695.2	44.3	-29.5
	4. Crude Rubber, incl. Synthetic & Reclaimed	363.6	569.6	479.9	56.7	-15.7
	5. Pulp & Waste Paper	380.6	451.6	375.5	18.6	-16.8
	6. Metalliferrous Ores & Metal Scrap	4,109.6	5,043.6	3,139.6	22.7	-37.8
	7. Iron & Steel	4,478.1	5,127.8	3,879.4	14.5	-24.3
II.	Non-Bulk Imports	68,738.8	94,681.6	70,294.4	37.7	-25.8
		(57.6)	(51.2)	(56.4)
	A. Capital Goods	25,350.1	38,973.8	29,242.5	53.7	-25.0
	1. Manufactures of Metals	999.2	1,672.2	1,144.1	67.4	-31.6
	2. Machine Tools	948.0	1,339.1	792.4	41.3	-40.8
	3. Machinery except Electrical & Electronics	8,229.8	12,128.3	9,373.8	47.4	-22.7
	4. Electrical Machinery except Electronics	1,232.1	2,140.6	1,520.9	73.7	-29.0
	5. Electronic Goods incl. Computer Software	10,499.7	13,564.9	11,533.3	29.2	-15.0
	6. Transport Equipments	2,813.1	6,607.9	2,820.9	134.9	-57.3
	7. Project Goods	628.3	1,520.8	2,057.1	142.1	35.3
	B. Mainly Export Related Items	10,869.0	19,970.0	12,701.3	83.7	-36.4
	1. Pearls, Precious & Semi-Precious Stones	4,704.3	10,453.9	5,462.4	122.2	-47.7
	2. Chemicals, Organic & Inorganic	4,739.2	7,648.5	5,634.6	61.4	-26.3
	3. Textile Yarn, Fabric, etc.	1,196.4	1,458.4	1,243.6	21.9	-14.7
	4. Cashew Nuts, raw	229.0	409.1	360.7	78.7	-11.8
	C. Others	32,519.8	35,737.8	28,350.8	9.9	-20.7
	of which :
	1. Gold & Silver	11,664.6	15,426.7	11,625.8	32.3	-24.6
	2. Artificial Resins & Plastic Materials	1,747.1	2,321.5	2,375.8	32.9	2.3
	3. Professional Instruments etc. except electrical	1,425.9	2,340.3	1,811.0	64.1	-22.6
	4. Coal, Coke & Briquettes etc.	2,887.4	5,752.8	4,129.2	99.2	-28.2
	5. Medicinal & Pharmaceutical Products	833.9	1,020.9	990.8	22.4	-3.0
	6. Chemical Materials & Products	784.7	1,207.9	1,104.3	53.9	-8.6
	7. Non-Metallic Mineral Manufactures	464.6	671.3	513.0	44.5	-23.6
	Total Imports	119,248.0	184,995.5	124,608.9	55.1	-32.6
	Memo Items
	Non-Oil Imports	84,658.0	121,710.8	87,175.1	43.8	-28.4
	Non-Oil Imports excl. Gold & Silver	72,993.4	106,284.0	75,549.3	45.6	-28.9
	Mainly Industrial Inputs*	67,570.7	94,897.9	67,274.9	40.4	-29.1
P : Provisional. R : Revised. * : Non oil imports net of gold and silver, bulk consumption goods, manufactured fertilisers and professional instruments. Note: Figures in brackets relate to percentage to total imports for the period. Source : DGCI & S.

Statement 6 : Direction of India’s Foreign Trade- Imports
(US $ million)
Group / Country		April-September			Percentage Variation
Group / Country		2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	O E C D Countries	38,630.0	57,557.6	40,718.2	49.0	-29.3
	A. E U	16,265.8	24,765.1	16,800.0	52.3	-32.2
	of which:
	1. Belgium	2,633.1	3,959.4	2,506.6	50.4	-36.7
	2. France	1,142.0	2,725.4	1,380.2	138.7	-49.4
	3. Germany	4,316.8	6,318.0	4,750.2	46.4	-24.8
	4. Italy	1,677.0	2,636.5	1,726.6	57.2	-34.5
	5. Netherlands	776.2	1,129.3	814.6	45.5	-27.9
	6. U K	2,483.1	3,380.7	2,100.1	36.2	-37.9
	B. North America	7,263.3	11,411.5	8,358.1	57.1	-26.8
	1. Canada	788.2	1,182.3	936.7	50.0	-20.8
	2. U S A	6,475.2	10,229.2	7,421.4	58.0	-27.4
	C. Asia and Oceania	7,580.8	11,124.1	8,667.6	46.7	-22.1
	of which:
	1. Australia	4,468.2	6,479.2	5,299.1	45.0	-18.2
	2. Japan	2,944.2	4,432.5	3,134.2	50.6	-29.3
	D. Other O E C D Countries	7,520.1	10,257.0	6,892.5	36.4	-32.8
	of which:
	1. Switzerland	6,278.4	8,639.9	5,453.8	37.6	-36.9
II.	O P E C	34,250.7	66,264.7	38,304.0	93.5	-42.2
	of which:
	1. Indonesia	2,341.7	3,295.5	3,913.9	40.7	18.8
	2. Iran	4,642.9	8,085.4	5,632.9	74.1	-30.3
	3. Iraq	2,837.0	5,552.6	2,992.8	95.7	-46.1
	4. Kuwait	3,143.1	6,429.5	3,591.8	104.6	-44.1
	5. Saudi Arabia	8,041.4	13,161.6	7,047.1	63.7	-46.5
	6. U A E	6,211.7	16,275.7	7,204.0	162.0	-55.7
III.	Eastern Europe	1,792.1	3,714.2	2,878.9	107.3	-22.5
	of which:
	1. Russia	1,016.7	2,349.7	1,788.5	131.1	-23.9
IV.	Developing Countries	37,054.3	56,872.4	41,910.7	53.5	-26.3
	of which:
	A. Asia	29,750.5	46,262.8	33,461.9	55.5	-27.7
	a) S A A R C	820.3	1,072.6	718.8	30.8	-33.0
	1. Afghanistan	33.7	48.9	40.2	45.1	-17.7
	2. Bangladesh	139.8	204.2	114.6	46.1	-43.9
	3. Bhutan	93.0	92.0	64.8	-1.1	-29.6
	4. Maldives	1.7	2.4	0.7	40.2	-69.3
	5. Nepal	189.0	275.8	220.3	45.9	-20.1
	6. Pakistan	128.3	241.1	121.0	88.0	-49.8
	7. Sri Lanka	234.9	208.2	157.1	-11.4	-24.5
	b) Other Asian Developing Countries	28,930.2	45,190.2	32,743.1	56.2	-27.5
	of which:
	1. People’s Republic of China	12,583.2	18,844.1	14,908.3	49.8	-20.9
	2. Hong Kong	1,294.6	3,402.9	1,650.2	162.9	-51.5
	3. South Korea	2,744.1	4,754.2	3,606.3	73.2	-24.1
	4. Malaysia	2,935.2	4,278.5	2,348.1	45.8	-45.1
	5. Singapore	3,483.0	4,497.9	3,052.9	29.1	-32.1
	6. Thailand	1,167.1	1,480.2	1,412.8	26.8	-4.6
	B. Africa	4,805.3	7,756.2	5,643.8	61.4	-27.2
	of which:
	1. Benin	54.2	94.7	103.5	74.8	9.2
	2. Egypt Arab Republic	967.1	1,107.0	856.9	14.5	-22.6
	3. Kenya	39.5	43.5	41.8	10.3	-4.0
	4. South Africa	1,986.9	3,518.0	2,687.7	77.1	-23.6
	5. Sudan	144.9	282.4	206.0	94.9	-27.1
	6. Tanzania	23.8	34.8	75.1	46.3	115.9
	7. Zambia	56.6	52.6	28.8	-6.9	-45.3
	C. Latin American Countries	2,498.5	2,853.4	2,805.0	14.2	-1.7
V.	Others	7,221.7	Neg.	182.0	-	-
VI.	Unspecified	299.2	586.7	615.1	96.1	4.8
Total Imports		119,248.0	184,995.5	124,608.9	55.1	-32.6
P : Provisional. R : Revised. Neg.: Negligible. Source : DGCI & S.

* Prepared in the Division of International Trade, Department of Economic Analysis and Policy. The previous issue of the article was published in RBI Bulletin, April 2010.