India's trade deficit widens to

$15 billion as export slip

- By Ankit Agrawal

08-01-2021
08-01-2021
 ankitmay28@gmail.com ankitmay28
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08-01-2021
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 WHAT IS BALANCE OF TRADE?

It is the difference between the monetary

value of a nation's exports and imports
over a certain time period.

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 WHAT HAS HAPPENED?

Contracting for the third straight month, India’s exports

slipped marginally by 0.8% in December 2020,

Even as the trade deficit widened to USD 15.71 billion due to

the rise in imports.

Exports in December 2020 stood at USD 26.89 billion, as

compared to USD 27.11 in the same month of 2019.

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The rate of contraction in the country’s outbound shipments
has improved against a decline of 8.74% in November,

Mainly due to the increase in shipments of certain sectors

such as gems and jewellery, engineering and chemicals.

After a gap of nine months, imports in December recorded a

positive growth of 7.6% at USD 42.6 billion.

In February 2020, it had registered a rise of 2.48%.

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India is thus a net importer in December 2020,
with a trade deficit of USD 15.71 billion, as
compared to a trade deficit of USD 12.49
billion, widened by 25.78%.

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 EXPORTS

Major commodities which have recorded positive growth in

exports during the month under review include-

Oil meals (192.60 per cent), iron ore (69.26 per cent), carpet
(21.12 per cent), pharmaceuticals (17.44 per cent), spices
(17.06 per cent), electronic goods (16.44 per cent), fruits and
vegetables (12.82 per cent), and chemicals (10.73 per cent).

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 Sectors that registered negative growth include-

Petroleum products (-40.47 per cent), oil Seeds (-31.80 per cent),
leather and leather manufactures (-17.74 per cent), coffee (-16.39
per cent), ready-made garments of all textiles (-15.07 per cent),
man-made yarn/fabrics/made-ups (-14.61 per cent), marine
products (-14.27 per cent), cashew (-12.04 per cent), plastic and
linoleum (-7.43 per cent), and tobacco (-4.95 per cent).

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 IMPORT

The major commodities imported with positive growth in

December 2020 include-

Pulses (245.15 per cent), gold (81.82 per cent), vegetable oil
(43.50 per cent), chemicals (23.30 per cent), electronic goods
(20.90 per cent), machine tools (13.46 per cent), pearls,
precious and semi-precious stones (7.81 per cent), and
fertilisers (1.42 per cent).

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 Sectors which recorded negative growth in
December 2020 were-

Silver, newsprint, transport equipment, cotton

raw and waste, coal, coke and briquettes.

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 SURPLUS IN JUNE

The trade deficit at USD 15.71 billion was

highest since July 2020.

The country had witnessed trade surplus in

June 2020.

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 APRIL-DECEMBER 2020-21

In April-December 2020-21,

The country’s merchandise exports contracted by

15.8% to USD 200.55 billion,

As compared to USD 238.27 billion in the same

period last fiscal.

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 Imports during the nine months of the current
fiscal declined by 29.08% to USD 258.29 billion.

It was USD 364.18 billion in April-December

2019-20.

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Q. Which of the following effects is an appreciation of the
rupee expected to have?

A) Increase in exports from India

B) Increase in imports to India

C) Higher inflation in India

D) Increase in output in India

08-01-2021
 India's trade deficit widens to
$15 billion as export slip

- By Ankit Agrawal

08-01-2021
13-04-2020
 ankitmay28
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