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

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சொத்து வெளியீட்டாளர்

பின்செல்

வெளியிடப்பட்ட தேதி ஏப்ரல் 13, 2010

கேட்கவும்

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

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

This article reviews India’s merchandise trade performance during 2009-10 (April- January) 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-August 2009 are also analysed.

Highlights

India’s merchandise exports during January 2010 at US$ 14.3 billion recorded a growth of 11.5 per cent as compared with a decline of 13.6 per cent registered in January 2009. The decline in exports which began since October 2008 continued for twelve consecutive months. The exports turned around by exhibiting an increase of 0.3 per cent in October 2009 and the positive growth in exports continued thereafter (monthly average growth of 13.0 per cent during November 2009 to January 2010). This trend indicated stability in positive growth in exports.
During 2009-10 (April-January) exports stood at US$ 131.8 billion, posting a decline of 17.9 per cent as against a growth of 22.8 per cent during the corresponding period of 2008-09.
Imports during January 2010 at US$ 24.7 billion showed a high growth of 35.5 per cent as against a decline of 20.2 per cent recorded in January 2009. This was due to growth in both petroleum, oil and lubricants (POL) and non-POL imports. After a continuous decline for one year, imports had turned around in December 2009 by exhibiting an increase of 27.2 per cent. The positive growth in imports continued in January 2010.
During 2009-10 (April-January), imports at US$ 218.1 billion recorded a decline of 19.8 per cent as against a growth of 32.0 per cent a year ago.
Petroleum, oil and lubricants (POL) imports at US$ 63.9 billion during 2009- 10 (April-January) showed a decline of 25.4 per cent, as against a high growth of 36.1 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-January) stood at US$ 68.4 per barrel (ranged between US$ 50.1 – 77.4 per barrel), which was lower by 24.3 per cent than US$ 90.3 per barrel (ranged between US$ 40.6 – 132.5 per barrel) during 2008-09 (April-January).
Non-POL imports during 2009-10 (April- January) at US$ 154.3 billion showed a fall of 17.3 per cent as against a growth of 30.2 per cent a year ago.
Trade deficit during 2009-10 (April- January) amounted to US$ 86.3 billion, thereby showing a decline of US$ 25.3 billion (22.6 per cent) over US$ 111.6 billion during 2008-09 (April-January), mainly due to decline in both oil and non-oil imports.

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

Exports

India’s merchandise exports during January 2010 at US$ 14.3 billion recorded a growth of 11.5 per cent as compared with a decline of 13.6 per cent registered in January 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 0.3 per cent. The positive growth in exports continued thereafter (monthly average growth of 13.0 per cent during November 2009 to January 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 January) stood at US$ 131.8 billion, posting a decline of 17.9 per cent as against a growth of 22.8 per cent during 2008-09 (April- January) [Table 1 and Statement 2].

Table 1: India's Merchandise Trade: April-January
(US $ billion)
Items	2008-09 R		2009-10 P
Items	April-January
1	2		3
Exports		160.4		131.8
		(22.8)		(-17.9)
Oil Exports	24.0		..
	(9.5)
Non-Oil Exports	136.4		..
	(25.5)
Imports		272.0		218.1
		(32.0)		(-19.8)
Oil Imports	85.6		63.9
	(36.1)		(-25.4)
Non-Oil Imports	186.4		154.3
	(30.2)		(-17.3)
Trade Balance		-111.6		-86.3
Oil Trade Balance	-61.6		..
Non-Oil Trade Balance	-50.0		..
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.

The commodity-wise exports data released by DGCI&S for April-August 2009 revealed that manufactured goods maintained the largest share at 70.0 per cent, followed by primary products (13.4 per cent) and petroleum products (13.0 per cent). Moreover, the share of manufactured goods has increased along with decrease in the shares of petroleum products and primary products (Table 2).

During April-August 2009, exports of all major commodity groups declined (Statement 3). Exports of primary products during April-August 2009 showed a sharp decline of 34.1 per cent as against a high growth of 52.6 per cent a year ago, due to decline in its major components. Within primary products, agricultural and allied products exports at US$ 6.1 billion showed a decline of 32.5 per cent (growth of 62.4 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 37.9 per cent as against a growth of 33.8 per cent a year ago, mainly due to decline in iron ore and processed minerals.

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-August
1		2	3	4	5
I.	Primary Products	16.9	13.7	13.9	13.4
	Agriculture and Allied Products	11.3	9.5	9.7	9.6
	Ores and Minerals	5.6	4.2	4.2	3.8
II.	Manufactured Goods	63.2	66.5	64.2	70.0
	Leather and Manufactures	2.2	1.9	1.8	2.1
	Chemicals and Related Products	13.0	12.3	11.3	13.1
	Engineering Goods	22.9	25.5	24.8	24.1
	Textiles and Textile Products	11.9	10.8	9.8	12.4
	Gems and Jewellery	12.1	15.1	15.7	17.3
III.	Petroleum Products	17.4	14.5	17.4	13.0
IV.	Others	2.5	5.3	4.5	3.6
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Exports of manufactured goods during April-August 2009 at US$ 44.6 billion exhibited a decline of 25.4 per cent in contrast with a high growth of 49.6 per cent a year ago, due to decline in its major components. Within manufactured goods, exports of engineering goods at US$ 15.3 billion declined by 33.6 per cent against a high growth of 61.9 per cent a year ago. This was due to decline in all its major constituents such as machinery and instruments, manufacture of metals, transport equipments and electronic goods as also iron and steel.

Gems and jewellery exports during April-August 2009 at US$ 11.0 billion recorded a sharp decline of 24.7 per cent as against a high growth of 84.4 per cent during the corresponding period of the previous year. Chemicals and related products exports during April-August 2009 at US$ 8.4 billion showed a decline of 20.8 per cent (a growth of 33.9 per cent during April-August 2008). The decline in the exports of chemicals and related products was led by 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-August 2009 at US$ 7.9 billion exhibited a decline of 13.4 per cent as against a growth of 17.0 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$ 8.3 billion during April-August 2009 registered a decline of 48.8 per cent as against a growth of 52.5 per cent a year ago. This occurred in the aftermath of sharp decline in world oil prices during April-August 2009 over April- August 2008 (Chart 3). The volume of these exports declined by 0.9 per cent during the period as compared with a decline of 10.9 per cent during April-August 2008.

Destination-wise, during April-August 2009, among the regions, developing countries and OECD countries were the major markets for India’s exports with these groups accounting for 37.5 per cent and 36.6 per cent shares, respectively (Table 3). Another major contributor was OPEC with the share of 23.5 per cent. During April- August 2009, the shares of OECD and OPEC increased while that of developing countries declined. Country-wise, the UAE was the largest destination in April-August 2009, with a share of 14.4 per cent in India’s total exports. It was followed by the US (11.2 per cent), China (5.2 per cent), Singapore (4.5 per cent), Hong Kong (4.1 per cent), the UK (3.8 per cent), the Netherlands (3.5 per cent) and Germany (3.2 per cent). Direction of India’s exports during April-August 2009 indicated that exports to all major markets, such as the EU, OPEC and developing countries declined (Statement 4).

Imports

Imports during January 2010 at US$ 24.7 billion showed a high growth of 35.5 per cent as against a decline of 20.2 per cent recorded in January 2009. This was due to growth in both petroleum, oil and lubricants (POL) and non-POL imports (Statement 1).

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-August
1		2	3	4	5
I.	OECD Countries	39.5	36.9	35.3	36.6
	EU	21.2	21.0	20.2	20.4
	North America	13.5	12.1	11.3	12.0
	US	12.7	11.3	10.6	11.2
	Asia and Oceania	3.2	2.5	2.3	2.9
	Other OECD Countries	1.6	1.4	1.5	1.4
II.	OPEC	16.6	21.0	22.6	23.5
III.	Eastern Europe	1.1	1.1	1.1	1.0
IV.	Developing Countries	42.5	37.0	38.1	37.5
	Asia	31.6	27.7	28.1	28.3
	SAARC	5.9	4.6	4.7	4.7
	Other Asian Developing Countries	25.7	23.1	23.5	23.6
	Africa	7.5	6.2	6.6	6.5
	Latin America	3.4	3.1	3.4	2.7
V.	Others / Unspecified	0.3	4.0	2.9	1.4
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Imports started falling since December 2008 but witnessed consistently lower rates of decline since September 2009 (Chart 1). After a continuous decline for one year, imports turned around in December 2009 by exhibiting an increase of 27.2 per cent. The positive growth in imports continued in January 2010. During 2009-10 (April- January) imports at US$ 218.1 billion registered a decline of 19.8 per cent (32.0 per cent growth a year ago) [Table 1 and Statement 2].

POL imports at US$ 63.9 billion during 2009-10 (April-January) showed a decline of 25.4 per cent, as against a high growth of 36.1 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-January) stood at US$ 68.4 per barrel (ranged between US$ 50.1 – 77.4 per barrel), which was lower by 24.3 per cent than US$ 90.3 per barrel (ranged between US$ 40.6 – 132.5 per barrel) during 2008-09 (April-January) (Table 4). Non-POL imports at US$ 154.3 billion recorded a fall of 17.3 per cent during 2009-10 (April-January) as against a growth of 30.2 per cent in 2008-09 (April-January).

The commodity-wise imports data for April-August 2009 indicated that POL imports at US$ 30.9 billion showed a decline of 42.5 per cent as against a high growth of 86.6 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 12.1 per cent as against a growth of 8.7 per cent a year ago.

Table 4: Trends in Crude Oil Prices
(US $/barrel)
Period	Dubai	Brent	WTI*	Indian Basket**
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
January 2009	45.0	44.9	41.7	44.0
January 2010	76.6	76.4	78.4	76.6
* 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 February 2010; Ministry of Petroleum and Natural Gas, Government of India.

Non-POL imports during April-August 2009 at US$ 72.9 billion witnessed a decline of 27.2 per cent as against a high growth of 38.6 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 25.9 per cent as against a growth of 58.3 per cent in April-August 2008), gold and silver (fall of 19.1 per cent as against a growth of 10.1 per cent during April-August 2008), pearls, precious and semi-precious stones (fall of 41.2 per cent as against a growth of 99.5 per cent during April-August 2008), fertilisers, chemicals, iron and steel, coal, coke and briquettes and metalliferrous ores and metal scrap. However, imports of edible oil and pulses showed substantial growth. During April-August 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).

Source-wise, during April-August 2009, developing countries had the highest share in India’s total imports (34.2 per cent), followed by OECD countries (32.7 per cent) and OPEC (30.1 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 (6.1 per cent), the UAE (5.8 per cent), Saudi Arabia (5.7 per cent), Australia (4.4 per cent), Iran (4.4 per cent), Switzerland (4.1 per cent) and Germany (3.9 per cent). Direction of India’s imports during April-August 2009 indicated that imports from all the major regions declined (Statement 6).

Table 5: Imports of Principal Commodities
(Percentage Shares)
Commodity/Group	2007-08	2008-09	2008-09	2009-10
Commodity/Group	April-March		April-August
1	2	3	4	5
1. Petroleum, Crude and Products	31.7	30.1	34.9	29.8
2. Capital Goods	27.9	23.6	21.5	23.6
3. Gold and Silver	7.1	7.2	7.7	9.3
4. Organic and Inorganic Chemicals	3.9	4.0	4.3	4.6
5. Coal, Coke and Briquettes, etc.	2.6	3.3	3.0	3.2
6. Fertilisers	2.2	4.5	4.1	2.4
7. Metalliferrous Ores, Metal Scrap, etc.	3.1	2.6	2.7	2.7
8. Iron and Steel	3.5	3.1	2.7	3.2
9. Pearls, Precious and Semi-Precious Stones	3.2	5.5	5.2	4.5
10. Others	14.8	16.1	13.9	16.7
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	2007-08	2008-09	2008-09	2009-10
Region/Country	April-March		April-August
1	2	3	4	5
I. OECD Countries	35.4	31.7	30.6	32.7
EU	15.3	13.9	13.1	13.6
France	2.5	1.5	1.4	1.2
Germany	3.9	3.9	3.5	3.9
UK	2.0	1.9	1.7	1.7
North America	9.1	6.9	6.2	6.8
US	8.4	6.1	5.5	6.1
Asia and Oceania	5.8	6.3	5.9	7.1
Other OECD Countries	5.2	4.6	5.4	5.3
II. OPEC	30.7	32.1	36.3	30.1
III. Eastern Europe	1.5	2.2	2.0	2.3
IV. Developing Countries	31.5	31.9	30.7	34.2
Asia	25.5	25.9	25.0	27.2
SAARC	0.8	0.6	0.6	0.6
Other Asian Developing Countries	24.7	25.3	24.4	26.6
of which:
People’s Republic of China	10.8	10.6	10.2	12.0
Africa	3.7	4.1	4.1	4.6
Latin America	2.3	1.9	1.6	2.4
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- January) amounted to US$ 86.3 billion, which was lower by US$ 25.3 billion (22.6 per cent) than US$ 111.6 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-August 2009 stood at US$ 22.6 billion, which was lower by US$ 15.0 billion than US$ 37.6 billion a year ago. Trade deficit on non-oil account during this period amounted to US$ 17.6 billion, which was lower by US$ 5.6 billion than US$ 23.2 billion in April-August 2008.

Global Trade

World merchandise exports which declined since November 2008 as an outcome of global economic crisis, started recovering consistently 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 November 2009 the world exports showed a positive growth of 5.5 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 (Chart 2). Cumulatively, world merchandise exports during January-November 2009, in dollar terms, showed a decline of 22.9 per cent as against a growth of 18.2 per cent a year ago (Table 7). During the same period, exports of advanced economies declined by 23.9 per cent in contrast with a growth of 13.3 per cent a year back, and the exports of emerging and developing economies declined by 21.8 per cent as against a growth of 27.2 per cent a year ago.

Table 7: Growth in Exports – Global Scenario
(Per cent)
Region/Country	2007		2008		2008		2009
Region/Country	January-December				January-November
1	2		3		4		5
World		14.1		15.8		18.2		-22.9
Advanced Economies		13.5		11.0		13.3		-23.9
US	12.0		11.9		14.4		-20.1
France	12.3		10.1		11.9		-26.4*
Germany	18.0		10.8		11.8		-24.5
Japan	7.8		12.3		14.0		-29.1
Emerging and Developing Economies		15.3		24.6		27.2		-21.8
Singapore	10.1		13.0		16.3		-23.4
China	25.6		17.3		19.4		-18.7
India	23.3		29.7		29.7**		-19.3**
Indonesia	14.7		24.4		20.8		-13.3
Korea	14.1		13.6		21.5		-18.6
Malaysia	9.6		19.1		16.7		-17.1
Thailand	17.1		12.9		16.7		-24.2
* : January-October 2009 over January-October 2008. ** : January-December over corresponding period of previous year. 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 January 2010, the commodity prices showed a rise of 41.0 per cent (Chart 3). During this month, the prices of energy, food and metals increased by 50.8 per cent, 10.2 per cent and 59.6 per cent, respectively.

Statement 1 : India’s Foreign Trade - January 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	58,624	9,425	49,199	89,947	33,487	56,460	-31,323	-24,062	-7,261
	(20.6)	(48.8)	(16.4)	(40.4)	(101.0)	(19.1)
2008-09 R	62,844	6,028	56,816	89,015	20,561	68,454	-26,171	-14,533	-11,638
	(7.2)	(-36.0)	(15.5)	(-1.0)	(-38.6)	(21.2)
2009-10 P	65,920	..	..	113,545	32,415	81,130	-47,625	..	..
	(4.9)			(27.6)	(57.7)	(18.5)
US dollar million
2007-08	14,889	2,394	12,495	22,844	8,505	14,339	-7,955	-6,111	-1,844
	(35.8)	(67.5)	(31.0)	(58.1)	(126.3)	(34.1)
2008-09 R	12,869	1,234	11,635	18,228	4,522	13,706	-5,359	-3,288	-2,071
	(-13.6)	(-48.4)	(-6.9)	(-20.2)	(-46.8)	(-4.4)
2009-10 P	14,343	..	..	24,705	7,053	17,652	-10,362	..	..
	(11.5)			(35.5)	(56.0)	(28.8)
P : Provisional. R : Revised. .. Not available. Note : Figures in brackets relate to percentage variation over the corresponding period of the previous year. Source : Press Note, Ministry of Commerce & Industry.

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	-118401	-64476	-53925
	(13.7)	(-5.4)	(17.8)	(20.8)	(14.6)	(23.6)
April-January
Rupees crore
2007-08	525,757	88,344	437,413	830,027	253,385	576,642	-304,270	-165,040	-139,229
	(12.2)	(23.3)	(10.2)	(18.4)	(16.9)	(19.1)
2008-09 R	715,764	108,388	607,376	1,215,214	376,884	838,330	-499,450	-268,496	-230,954
	(36.1)	(22.7)	(38.9)	(46.4)	(48.7)	(45.4)
2009-10 P	629,224	..	..	1,041,513	304,942	736,571	-412,289	..	..
	(-12.1)			(-14.3)	(-19.1)	(-12.1)
US dollar million
2007-08	130,657	21,929	108,728	206,146	62926	143,220	-75,489	-40,997	-34,492
	(26.9)	(39.5)	(24.6)	(33.8)	(28.5)	(36.2)
2008-09 R	160,438	24,010	136,428	272,037	85,623	186,414	-111,599	-61,613	-49,986
	(22.8)	(9.5)	(25.5)	(32.0)	(36.1)	(30.2)
2009-10 P	131,776	..	..	218,120	63,863	154,257	-86,344	..	..
	(-17.9)			(-19.8)	(-25.4)	(-17.3)
P : Provisional. R : Revised. .. : Not available. Note : 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 : Press Note, Ministry of Commerce & Industry.

Statement 3 : India’s Exports of Principal Commodities
(US$ million)
Commodity/Group		April-August			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	8,457.6	12,908.3	8,501.9	52.6	-34.1
		(13.9)	(13.9)	(13.4)
	A. Agricultural & Allied Products	5,556.3	9,025.6	6,092.0	62.4	-32.5
	of which :	(9.1)	(9.7)	(9.6)
	1. Tea	167.4	249.0	208.0	48.8	-16.5
	2. Coffee	177.1	248.5	166.0	40.3	-33.2
	3. Rice	974.7	1,206.8	1,233.3	23.8	2.2
	4. Wheat	0.0	0.0	0.0	—	—
	5. Cotton Raw incl. Waste	236.0	388.9	237.2	64.8	-39.0
	6. Tobacco	188.1	309.7	368.8	64.7	19.1
	7. Cashew incl. CNSL	217.4	332.0	244.9	52.7	-26.2
	8. Spices	519.9	670.3	474.2	28.9	-29.3
	9. Oil Meal	333.3	1,067.9	527.6	220.4	-50.6
	10.Marine Products	646.1	595.8	577.4	-7.8	-3.1
	11.Sugar & Molasses	526.5	870.0	11.8	65.2	-98.6
	B. Ores & Minerals	2,901.3	3,882.7	2,409.9	33.8	-37.9
	of which :	(4.8)	(4.2)	(3.8)
	1. Iron Ore	1,536.5	2,290.6	1,435.0	49.1	-37.4
	2. Processed Minerals	529.7	695.2	496.9	31.2	-28.5
II.	Manufactured Goods	39,964.1	59,767.9	44,559.3	49.6	-25.4
	of which :	(65.5)	(64.2)	(70.0)
	A. Leather & Manufactures	1,428.3	1,706.4	1,342.3	19.5	-21.3
	B. Chemicals & Related Products	7,879.5	10,552.4	8,359.4	33.9	-20.8
	1. Basic Chemicals, Pharmaceuticals & Cosmetics	5,167.8	7,054.9	5,786.1	36.5	-18.0
	2. Plastic & Linoleum	1,266.8	1,565.0	1,199.6	23.5	-23.4
	3. Rubber, Glass, Paints & Enamels, etc.	1,126.2	1,400.1	1,012.5	24.3	-27.7
	4. Residual Chemicals & Allied Products	318.7	532.5	361.2	67.1	-32.2
	C. Engineering Goods	14,249.0	23,074.9	15,332.0	61.9	-33.6
	of which :
	1. Manufactures of Metals	2,519.0	3,426.8	2,339.1	36.0	-31.7
	2. Machinery & Instruments	3,424.0	5,019.9	3,725.9	46.6	-25.8
	3. Transport Equipments	2,634.0	5,231.3	4,423.9	98.6	-15.4
	4. Iron & Steel	2,271.8	3,611.5	1,099.6	59.0	-69.6
	5. Electronic Goods	1,237.3	2,979.7	2,447.2	140.8	-17.9
	D. Textiles and Textile Products	7,767.7	9,086.9	7,872.4	17.0	-13.4
	1. Cotton Yarn, Fabrics, Made-ups, etc.	1,790.6	2,005.0	1,263.1	12.0	-37.0
	2. Natural Silk Yarn, Fabrics Madeups, etc. (incl.silk waste)	156.8	171.7	120.7	9.5	-29.7
	3. Manmade Yarn, Fabrics, Made-ups, etc.	1,104.1	1,443.9	1,434.3	30.8	-0.7
	4. Manmade Staple Fibre	90.5	140.2	118.2	55.0	-15.7
	5. Woollen Yarn, Fabrics, Madeups, etc.	35.1	46.6	36.2	32.9	-22.3
	6. Readymade Garments	4,028.9	4,677.1	4,477.2	16.1	-4.3
	7. Jute & Jute Manufactures	128.4	156.9	94.1	22.2	-40.1
	8. Coir & Coir Manufactures	62.1	68.1	65.5	9.7	-3.7
	9. Carpets	371.2	377.4	263.1	1.7	-30.3
	(a) Carpet Handmade	363.8	374.1	259.3	2.9	-30.7
	(b) Carpet Millmade	0.0	0.0	0.0	—	—
	(c) Silk Carpets	7.4	3.3	3.9	-55.9	18.0
	E. Gems & Jewellery	7,904.5	14,574.8	10,978.3	84.4	-24.7
	F. Handicrafts	209.7	135.5	78.2	-35.4	-42.3
III.	Petroleum Products	10,599.3	16,167.8	8,284.0	52.5	-48.8
		(17.4)	(17.4)	(13.0)	0.0	-25.0
IV.	Others	2,016.4	4,273.6	2,272.6	111.9	-46.8
		(3.3)	(4.6)	(3.6)
Total Exports		61,037.4	93,117.7	63,617.7	52.6	-31.7
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-August			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	24,614.9	32,850.2	23,299.8	33.5	-29.1
A.	E U	13,204.0	18,782.9	12,980.6	42.3	-30.9
	of which:
	1. Belgium	1,751.0	2,272.7	1,308.0	29.8	-42.4
	2. France	1,000.2	1,421.4	1,182.1	42.1	-16.8
	3. Germany	1,989.7	2,941.5	2,012.5	47.8	-31.6
	4. Italy	1,584.5	1,916.6	1,220.2	21.0	-36.3
	5. Netherlands	1,666.0	3,018.1	2,216.3	81.2	-26.6
	6. U K	2,561.9	3,069.2	2,403.3	19.8	-21.7
B.	North America	8,652.3	10,506.7	7,604.9	21.4	-27.6
	1. Canada	499.2	609.0	455.8	22.0	-25.2
	2. U S A	8,153.13	9,897.62	7,149.14	21.4	-27.8
C.	Asia and Oceania	1,790.9	2,146.9	1,839.5	19.9	-14.3
	of which:
	1. Australia	416.3	674.0	477.9	61.9	-29.1
	2. Japan	1,320.4	1,380.9	1,238.5	4.6	-10.3
D.	Other O E C D Countries	967.7	1,413.7	874.8	46.1	-38.1
	Of which:
	1. Switzerland	242.3	366.3	196.0	51.2	-46.5
II.	O P E C	10,972.0	21,076.2	14,964.6	92.1	-29.0
	of which:
	1. Indonesia	688.6	1,338.0	1,331.3	94.3	-0.5
	2. Iran	1,094.1	1,255.1	875.6	14.7	-30.2
	3. Iraq	80.3	226.6	218.4	182.2	-3.6
	4. Kuwait	266.8	373.0	316.7	39.8	-15.1
	5. Saudi Arabia	1,384.7	2,996.3	1,636.2	116.4	-45.4
	6. U A E	6,405.3	13,330.5	9,182.1	108.1	-31.1
III.	Eastern Europe	667.8	1,030.3	629.5	54.3	-38.9
	of which:
	1. Russia	342.3	586.1	344.0	71.2	-41.3
IV.	Developing Countries	24,231.4	35,492.8	23,842.5	46.5	-32.8
	of which:
	A. Asia	17,457.2	26,188.9	17,997.5	50.0	-31.3
	a) S A A R C	3,111.3	4,341.6	2,979.5	39.5	-31.4
	1. Afghanistan	90.8	150.1	212.2	65.4	41.4
	2. Bangladesh	820.4	1,281.6	842.9	56.2	-34.2
	3. Bhutan	33.6	49.5	38.7	47.5	-22.0
	4. Maldives	32.9	51.8	31.4	57.4	-39.4
	5. Nepal	518.0	721.8	510.7	39.3	-29.3
	6. Pakistan	662.2	732.7	650.4	10.7	-11.2
	7. Sri Lanka	953.4	1,354.0	693.3	42.0	-48.8
	b) Other Asian Developing Countries	14,346.0	21,847.3	15,018.1	52.3	-31.3
	of which:
	1. People’s Republic of China	3,155.1	4,423.0	3,288.1	40.2	-25.7
	2. Hong Kong	2,338.6	3,017.2	2,611.9	29.0	-13.4
	3. South Korea	934.3	1,619.2	1,036.6	73.3	-36.0
	4. Malaysia	780.1	1,309.1	1,210.2	67.8	-7.6
	5. Singapore	2,559.1	5,020.7	2,880.9	96.2	-42.6
	6. Thailand	624.1	1,066.6	592.1	70.9	-44.5
	B. Africa	4,902.7	6,175.8	4,103.9	26.0	-33.5
	of which:
	1. Benin	87.9	87.9	74.2	0.0	-15.6
	2. Egypt Arab Republic	537.3	975.0	484.4	81.5	-50.3
	3. Kenya	446.2	765.6	650.9	71.6	-15.0
	4. South Africa	1,105.5	926.9	871.6	-16.2	-6.0
	5. Sudan	151.9	214.2	172.1	41.1	-19.7
	6. Tanzania	226.2	598.1	390.9	164.4	-34.6
	7. Zambia	67.5	46.7	32.9	-30.8	-29.6
	C. Latin American Countries	1,871.5	3,128.1	1,741.1	67.1	-44.3
V.	Others	442.2	242.1	244.0	-45.3	0.8
VI.	Unspecified	109.2	2,426.2	637.3	—	-73.7
Total Exports		61,037.4	93,117.7	63,617.7	52.6	-31.7
P : Provisional. R : Revised. Source : DGCI & S.

Statement 5 : India’s Imports of Principal Commodities
(US$ million)
Commodity/Group	April-August			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	42,459.5	75,989.3	44,931.4	79.0	-40.9
	(42.0)	(49.4)	(43.3)
A. Petroleum, Petroleum Products	28,798.00	53,741.29	30,888.23	86.6	-42.5
& Related Material	(28.5)	(34.9)	(29.8)
B. Bulk Consumption Goods	1,800.5	1,616.5	2,846.9	-10.2	76.1
1. Wheat	21.2	0.0	0.0	—	—
2. Cereals & Cereal Preparations	14.1	18.0	17.4	28.1	-3.2
3. Edible Oil	1,249.3	1,131.2	1,927.8	-9.5	70.4
4. Pulses	515.2	466.7	635.6	-9.4	36.2
5. Sugar	0.8	0.6	266.1	—	—
C. Other Bulk Items	11,861.0	20,631.6	11,196.3	73.9	-45.7
1. Fertilisers	1,816.8	6,251.8	2,513.4	244.1	-59.8
a) Crude	176.5	415.1	271.1	135.2	-34.7
b) Sulphur & Unroasted Iron Pyrites	80.7	462.2	38.3	472.8	-91.7
c) Manufactured	1,559.6	5,374.4	2,204.0	244.6	-59.0
2. Non-Ferrous Metals	1,328.2	4,302.2	1,275.3	223.9	-70.4
3. Paper, Paperboard & Mgfd. incl. Newsprint	588.2	807.2	573.2	37.2	-29.0
4. Crude Rubber, incl. Synthetic & Reclaimed	308.4	458.6	399.9	48.7	-12.8
5. Pulp & Waste Paper	316.3	371.6	311.2	17.5	-16.3
6. Metalliferrous Ores & Metal Scrap	3,635.2	4,225.2	2,807.5	16.2	-33.6
7. Iron & Steel	3,867.9	4,215.0	3,315.8	9.0	-21.3
II. Non-Bulk Imports	58,571.1	77,870.5	58,856.5	33.0	-24.4
	(58.0)	(50.6)	(56.7)
A. Capital Goods	20,876.9	33,045.9	24,493.3	58.3	-25.9
1. Manufactures of Metals	826.0	1,435.2	939.8	73.8	-34.5
2. Machine Tools	810.1	1,156.6	649.4	42.8	-43.8
3. Machinery except Electrical & Electronics	6,814.7	10,438.3	7,979.8	53.2	-23.6
4. Electrical Machinery except Electronics	955.5	1,819.3	1,264.4	90.4	-30.5
5. Electronic Goods incl. Computer Software	8,497.3	11,332.4	9,484.5	33.4	-16.3
6. Transport Equipments	2,443.7	5,569.7	2,344.4	127.9	-57.9
7. Project Goods	529.6	1,294.4	1,831.0	144.4	41.5
B. Mainly Export Related Items	9,268.6	16,107.5	10,821.1	73.8	-32.8
1. Pearls, Precious & Semi-Precious Stones	3,993.1	7,968.1	4,683.5	99.5	-41.2
2. Chemicals, Organic & Inorganic	4,067.5	6,577.6	4,761.2	61.7	-27.6
3. Textile Yarn, Fabric, etc.	1,008.4	1,216.6	1,053.8	20.6	-13.4
4. Cashew Nuts, raw	199.6	345.2	322.6	73.0	-6.5
C. Others	28,425.6	28,717.1	23,542.3	1.0	-18.0
of which :
1. Gold & Silver	10,780.9	11,873.8	9,601.9	10.1	-19.1
2. Artificial Resins & Plastic Materials	1,463.1	1,989.2	2,033.3	36.0	2.2
3. Professional Instruments etc. except electrical	1,512.1	1,929.5	1,541.5	27.6	-20.1
4. Coal, Coke & Briquettes etc.	2,372.8	4,568.5	3,326.1	92.5	-27.2
5. Medicinal & Pharmaceutical Products	704.7	866.9	841.9	23.0	-2.9
6. Chemical Materials & Products	639.7	1,047.5	922.7	63.7	-11.9
7. Non-Metallic Mineral Manufactures	380.7	558.7	429.7	46.8	-23.1
Total Imports	101,030.6	153,859.8	103,787.9	52.3	-32.5
Memo Items
Non-Oil Imports	72,232.6	100,118.5	72,899.7	38.6	-27.2
Non-Oil Imports excl. Gold & Silver	61,451.6	88,244.7	63,297.8	43.6	-28.3
Mainly Industrial Inputs*	56,579.5	79,324.3	56,705.4	40.2	-28.5
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-August			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	33,145.8	47,092.5	33,978.2	42.1	-27.8
	A. E U	13,739.0	20,168.2	14,116.2	46.8	-30.0
	of which:
	1. Belgium	2,198.1	2,813.6	2,117.9	28.0	-24.7
	2. France	950.9	2,120.4	1,193.7	123.0	-43.7
	3. Germany	3,659.2	5,422.0	4,028.6	48.2	-25.7
	4. Italy	1,392.4	2,255.6	1,423.9	62.0	-36.9
	5. Netherlands	656.9	980.3	659.2	49.2	-32.8
	6. U K	2,105.6	2,636.6	1,803.6	25.2	-31.6
	B. North America	6,033.2	9,534.5	7,031.4	58.0	-26.3
	1. Canada	675.4	1,075.8	732.5	59.3	-31.9
	2. U S A	5,357.80	8,458.61	6,298.90	57.9	-25.5
	C. Asia and Oceania	6,546.2	9,018.3	7,355.1	37.8	-18.4
	of which:
	1. Australia	3,934.0	5,017.3	4,539.2	27.5	-9.5
	2. Japan	2,472.2	3,845.9	2,610.6	55.6	-32.1
	D. Other O E C D Countries	6,827.4	8,371.6	5,475.5	22.6	-34.6
	of which:
	1. Switzerland	5,769.8	6,928.2	4,248.8	20.1	-38.7
II.	O P E C	28,469.0	55,858.0	31,272.3	96.2	-44.0
	of which:
	1. Indonesia	2,016.0	2,616.3	3,225.3	29.8	23.3
	2. Iran	3,918.5	6,789.4	4,517.1	73.3	-33.5
	3. Iraq	2,228.6	4,685.3	2,526.4	110.2	-46.1
	4. Kuwait	2,579.2	5,175.3	2,999.6	100.7	-42.0
	5. Saudi Arabia	6,443.9	11,547.9	5,916.7	79.2	-48.8
	6. U A E	5,333.8	13,705.4	6,030.2	157.0	-56.0
III.	Eastern Europe	1,512.4	3,094.2	2,403.1	104.6	-22.3
	of which:
	1. Russia	839.6	1,973.3	1,498.8	135.0	-24.0
IV.	Developing Countries	31,585.3	47,266.4	35,467.4	49.6	-25.0
	of which:
	A. Asia	25,066.8	38,451.1	28,232.0	53.4	-26.6
	a) S A A R C	674.6	881.6	589.1	30.7	-33.2
	1. Afghanistan	22.4	32.4	27.9	44.5	-13.9
	2. Bangladesh	121.0	145.0	92.6	19.8	-36.1
	3. Bhutan	77.2	77.6	54.6	0.6	-29.7
	4. Maldives	1.5	2.1	0.7	42.6	-69.2
	5. Nepal	158.4	236.3	183.7	49.2	-22.3
	6. Pakistan	109.5	216.6	96.9	97.8	-55.3
	7. Sri Lanka	184.5	171.4	132.7	-7.1	-22.5
	b) Other Asian Developing Countries	24,392.3	37,569.5	27,642.8	54.0	-26.4
	Of which:
	1. People’s Republic of China	10,461.3	15,747.4	12,443.3	50.5	-21.0
	2. Hong Kong	1,126.4	2,584.1	1,418.2	129.4	-45.1
	3. South Korea	2,339.9	3,914.9	3,054.5	67.3	-22.0
	4. Malaysia	2,487.6	3,503.1	1,985.5	40.8	-43.3
	5. Singapore	2,911.5	3,938.4	2,712.4	35.3	-31.1
	6. Thailand	988.7	1,243.7	1,181.6	25.8	-5.0
	B. Africa	4,202.3	6,377.8	4,791.4	51.8	-24.9
	of which:
	1. Benin	51.8	82.8	100.5	60.0	21.3
	2. Egypt Arab Republic	786.7	908.3	794.2	15.4	-12.6
	3. Kenya	31.1	34.0	37.6	9.3	10.6
	4. South Africa	1,730.5	2,763.4	2,266.1	59.7	-18.0
	5. Sudan	142.0	273.8	128.9	92.8	-52.9
	6. Tanzania	19.1	20.9	65.2	9.4	212.0
	7. Zambia	54.9	45.4	26.3	-17.3	-42.0
	C. Latin American Countries	2,316.1	2,437.6	2,444.1	5.2	0.3
V.	Others	6,050.7	Neg.	179.1	—	—
VI.	Unspecified	267.4	548.6	487.9	105.2	-11.1
Total Imports		101,030.6	153,859.8	103,787.9	52.3	-32.5
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, March 2010.