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

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പ്രസിദ്ധീകരിച്ചത് ജൂൺ 11, 2010

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

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

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

Highlights

India’s merchandise exports during March 2010 at US$ 19.9 billion recorded a growth of as much as 54.1 per cent as compared with a decline of 25.1 per cent registered in March 2009. After a decline for twelve consecutive months, exports turned around in October 2009 and the positive growth in exports continued thereafter (average growth of 31.4 per cent during November 2009 to March 2010).
During 2009-10 exports stood at US$ 176.6 billion, posting a decline of 4.7 per cent as against a growth of 13.7 per cent during 2008-09.
India’s merchandise imports during March 2010 at US$ 27.7 billion showed a high growth of 67.1 per cent as against a decline of 29.6 per cent recorded in March 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 2.7 per cent. The positive growth in imports continued thereafter (average growth of 50.1 per cent during December 2009 to March 2010).
During 2009-10, imports at US$ 278.7 billion recorded a decline of 8.2 per cent over the year as against a growth of 20.8 per cent a year ago.
Petroleum, oil and lubricants (POL) imports at US$ 85.5 billion during 2009-10 showed a decline of 8.7 per cent, as against a growth of 17.6 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 stood at US$ 69.6 per barrel (ranged between US$ 50.1–78.0 per barrel), which was lower by 15.8 per cent than US$ 82.7 per barrel (ranged between US$ 40.6 – 132.5 per barrel) during 2008-09.
Non-POL imports during 2009-10 at US$ 193.2 billion registered a decline of 8.0 per cent as against a growth of 22.3 per cent a year ago.
Trade deficit during 2009-10 amounted to US$ 102.1 billion, thereby showing a decline of US$16.3 billion (13.8 per cent) over US$ 118.4 billion during 2008-09, primarily due to decline in both oil and non-oil imports.
Trade deficit on oil account during April- October 2009 stood at US$ 32.5 billion, which was lower by US$ 17.3 billion than US$ 49.7 billion a year ago. Trade deficit on non-oil account during this period amounted to US$ 23.0 billion, which was lower by US$ 15.1 billion than US$ 38.1 billion in April-October 2008.

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

Exports

India’s merchandise exports during March 2010 at US$ 19.9 billion recorded a growth of 54.1 per cent as compared with a decline of 25.1 per cent registered in March 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 2.7 per cent. The positive growth in exports continued thereafter (average growth of 31.4 per cent during November 2009 to March 2010) [Chart 1].

Also, the increase in exports was consistent with the uptrend in world commodity prices. The overall exports during 2009-10 stood at US$ 176.6 billion, posting a decline of 4.7 per cent as against a growth of 13.7 per cent during 2008-09 [Table 1 and Statement 2].

The commodity-wise exports data released by DGCI&S for April-October 2009 revealed that manufactured goods maintained the largest share at 67.3 per cent, followed by petroleum products (14.2 per cent) and primary products (13.3 per cent). Moreover, the shares of manufactured goods and primary products have increased while the share of petroleum products has witnessed a decline (Table 2).

During April-October 2009, exports of all major commodity groups declined (Statement 3). Exports of primary products during April-October 2009 showed a decline of 22.7 per cent as against a growth of 28.5 per cent a year ago, due to decline in its major components. Within primary products, agricultural and allied products exports at US$ 8.5 billion showed a decline of 25.5 per cent (growth of 36.8 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 16.1 per cent as against a growth of 12.0 per cent a year ago, mainly due to decline in processed minerals.

Table 1: India's Merchandise Trade: April-March
(US $ billion)
Items	2008-09 R		2009-10 P
Items	April-		March
1	2		3
Exports		185.3		176.6
		(13.7)		(-4.7)
Oil Exports	26.8		..
	(-5.4)
Non-Oil Exports	158.5		..
	(17.8)
Imports		303.7		278.7
		(20.8)		(-8.2)
Oil Imports	93.7		85.5
	(17.6)		(-8.7)
Non-Oil Imports	210.0		193.2
	(22.3)		(-8.0)
Trade Balance		-118.4		-102.1
Oil Trade Balance	-66.8		..
Non-Oil Trade Balance	-51.6		..
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.

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-October
1	2	3	4	5
I. Primary Products	16.9	13.7	13.2	13.3
Agriculture and Allied Products	11.3	9.5	9.3	9.0
Ores and Minerals	5.6	4.2	3.9	4.2
II. Manufactured Goods	63.2	66.5	65.3	67.3
Leather and Manufactures	2.2	1.9	1.8	2.0
Chemicals and Related Products	13.0	12.3	11.8	12.9
Engineering Goods	22.9	25.5	25.0	23.3
Textiles and Textile Products	11.9	10.8	9.8	11.4
Gems and Jewellery	12.1	15.1	16.0	16.7
III. Petroleum Products	17.4	14.5	16.9	14.2
IV. Others	2.5	5.3	4.6	5.2
Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Exports of manufactured goods during April-October 2009 at US$ 63.5 billion exhibited a decline of 20.9 per cent in contrast with a high growth of 39.3 per cent a year ago, attributable to a contraction in its major components. Within manufactured goods, exports of engineering goods at US$ 22.0 billion declined by 28.7 per cent against a high growth of 51.2 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.

Gems and jewellery exports during April-October 2009 at US$ 15.7 billion recorded a sharp decline of 19.8 per cent as against a high growth of 67.0 per cent during the corresponding period of the previous year. Chemicals and related products exports during April-October 2009 at US$ 12.2 billion showed a decline of 15.8 per cent (a growth of 26.6 per cent during April- October 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-October 2009 at US$ 10.8 billion exhibited a decline of 10.5 per cent as against a growth of 10.3 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$ 13.4 billion during April-October 2009 registered a decline of 35.8 per cent as against a growth of 37.8 per cent a year ago. This occurred in the aftermath of sharp decline in world oil prices during April- October 2009 over April-October 2008 (Chart 3). However, the volume of these exports grew by 9.0 per cent during the period as compared with a decline of 9.7 per cent during April-October 2008.

Destination-wise, during April-October 2009, among the regions, developing countries and OECD countries were the major markets for India’s exports with these groups accounting for 37.1 per cent and 36.7 per cent shares, respectively (Table 3). Another major contributor was OPEC with the share of 22.3 per cent. During April- October 2009, the shares of OECD and OPEC increased while that of developing countries declined. Country-wise, the UAE was the largest destination for India in April-October 2009, with a share of 13.6 per cent in India’s total exports; followed by the US (11.3 per cent), China (5.1 per cent), Hong Kong (4.5 per cent), Singapore (4.0 per cent), the Netherlands (4.0 per cent), the UK (3.6 per cent), and Germany (3.0 per cent). Direction of India’s exports during April-October 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-October
1	2	3	4	5
I. OECD Countries	39.5	36.9	35.9	36.7
EU	21.2	21.0	20.2	20.4
North America	13.5	12.1	11.9	11.9
US	12.7	11.3	11.2	11.3
Asia and Oceania	3.2	2.5	2.4	3.0
Other OECD Countries	1.6	1.4	1.4	1.3
II. OPEC	16.6	21.0	22.1	22.3
III. Eastern Europe	1.1	1.1	1.1	1.0
IV. Developing Countries	42.5	37.0	37.5	37.1
Asia	31.6	27.7	27.4	28.0
SAARC	5.9	4.6	4.6	4.5
Other Asian Developing Countries	25.7	23.1	22.8	23.4
People’s Republic of China	6.6	5.0	4.3	5.1
Africa	7.5	6.2	6.7	6.3
Latin America	3.4	3.1	3.5	2.9
V. Others / Unspecified	0.3	4.0	3.4	2.9
Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Imports

Imports during March 2010 at US$ 27.7 billion showed a high growth of 67.1 per cent as against a decline of 29.6 per cent recorded in March 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. After a continuous decline for eleven months, imports turned around in November 2009 by exhibiting an increase of 2.7 per cent. The positive growth in imports continued thereafter (average growth of 50.1 per cent during December 2009 to March 2010). During 2009-10, overall imports at US$ 278.7 billion registered a decline of 8.2 per cent (20.8 per cent growth a year ago) [Table 1 and Statement 2].

POL imports at US$ 85.5 billion during 2009-10 showed a decline of 8.7 per cent, as against a growth of 17.6 per cent a year ago, primarily due to reduction in international crude oil prices over the year. The average price of Indian basket of crude oil during 2009-10 stood at US$ 69.6 per barrel (ranged between US$ 50.1–78.0 per barrel), which was lower by 15.8 per cent than US$ 82.7 per barrel (ranged between US$ 40.6 – 132.5 per barrel) during 2008-09 (Table 4). Non- POL imports at US$ 193.2 billion recorded a fall of 8.0 per cent during 2009-10 as against a growth of 22.3 per cent in 2008-09.

The commodity-wise imports data for April-October 2009 indicated that POL imports at US$ 45.8 billion showed a decline of 35.0 per cent as against a high growth of 71.6 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 14.0 per cent as against a growth of 8.5 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
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
2009-10	69.6	69.8	70.6	69.6
March 2009	45.6	46.8	47.5	46.1
March 2010	77.4	79.3	81.3	78.1
* 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 April 2010; Ministry of Petroleum and Natural Gas, Government of India.

Non-POL imports during April-October 2009 at US$ 104.0 billion witnessed a decline of 25.9 per cent as against a high growth of 40.3 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 24.1 per cent as against a growth of 46.2 per cent in April-October 2008), pearls, precious and semi-precious stones (fall of 39.1 per cent as against a high growth of 112.1 per cent during April-October 2008), gold and silver (fall of 16.3 per cent as against a growth of 31.8 per cent during April-October 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-October 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-October
1		2	3	4	5
1.	Petroleum, Crude and Products	31.7	30.1	33.5	30.6
2.	Capital Goods	27.9	23.6	21.4	22.9
3.	Gold and Silver	7.1	7.2	7.9	9.4
4.	Organic and Inorganic Chemicals	3.9	4.0	4.2	4.4
5.	Coal, Coke and Briquettes, etc.	2.6	3.3	3.2	3.3
6.	Fertilisers	2.2	4.5	4.9	2.7
7.	Metalliferrous Ores, Metal Scrap, etc.	3.1	2.6	2.7	2.5
8.	Iron and Steel	3.5	3.1	2.9	3.0
9.	Pearls, Precious and Semi-Precious Stones	3.2	5.5	5.5	4.7
10.	Others	14.8	16.1	13.8	16.5
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-October
1	2	3	4	5
I. OECD Countries	35.4	31.7	31.2	32.4
EU	15.3	13.9	13.2	13.4
France	2.5	1.5	1.4	1.1
Germany	3.9	3.9	3.4	3.7
UK	2.0	1.9	1.9	1.6
North America	9.1	6.9	6.5	6.6
US	8.4	6.1	5.8	5.9
Asia and Oceania	5.8	6.3	6.1	6.9
Other OECD Countries	5.2	4.6	5.3	5.5
II. OPEC	30.7	32.1	35.0	31.2
III. Eastern Europe	1.5	2.2	2.2	2.4
IV. Developing Countries	31.5	31.9	31.1	33.3
Asia	25.5	25.9	25.2	26.6
SAARC	0.8	0.6	0.6	0.6
Other Asian Developing Countries	24.7	25.3	24.6	26.0
of which:
People’s Republic of China	10.8	10.6	10.2	11.6
Africa	3.7	4.1	4.2	4.4
Latin America	2.3	1.9	1.7	2.4
V. Others / Unspecified	0.9	2.1	0.5	0.7
Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Source-wise, during April-October 2009, developing countries had the highest share in India’s total imports (33.3 per cent), followed by OECD countries (32.4 per cent) and OPEC (31.2 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 11.6 per cent in total imports, followed by the US (5.9 per cent), the UAE (5.9 per cent), Saudi Arabia (5.8 per cent), Switzerland (4.5 per cent), Iran (4.4 per cent), Australia (4.3 per cent), and Germany (3.7 per cent). Direction of India’s imports during April-October 2009 indicated that imports from all the major regions declined (Statement 6).

Trade Deficit

Trade deficit during 2009-10 amounted to US$ 102.1 billion, which was lower by US$ 16.3 billion (13.8 per cent) than US$ 118.4 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-October 2009 stood at US$ 32.5 billion, which was lower by US$ 17.3 billion than US$ 49.7 billion a year ago. Trade deficit on non-oil account during this period amounted to US$ 23.0 billion, which was lower by US$ 15.1 billion than US$ 38.1 billion in April-October 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 January 2010 world exports showed a positive growth of 20.4 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 during May 2009 to November 2009 (Chart 2). World merchandise exports during January 2010, in dollar terms, showed an increase of 20.4 per cent as against a decline of 28.6 per cent in January 2009 (Table 7). During the same month, exports of advanced economies increased by 18.5 per cent in contrast with a fall of 30.5 per cent in the corresponding period of 2009, and the exports of emerging and developing economies increased by 24.9 per cent as against a decline of 26.0 per cent in January 2009.

Table 7: Growth in Exports – Global Scenario
(Per cent)
Region/Country	2008		2009		2009		2010
Region/Country	January-December				January
1	2		3		4		5
World		16.1		-21.4		-28.6		20.4
Advanced Economies		10.9		-21.2		-30.5		18.5
US	11.9		-18.8		-20.6		18.3
France	10.1		-22.2		-32.2		0.1*
Germany	9.6		-22.3		-30.4		6.7
Japan	12.3		-26.1		-40.6		39.8
Emerging and Developing Economies		25.6		-21.9		-26.0		24.9
Singapore	13.0		-20.2		-40.2		46.0
China	17.3		-15.9		-17.5		21.0
India	29.7		-16.5		-20.2**		35.9**
Indonesia	24.4		-19.4		-34.9		40.1
Korea	13.6		-14.3		-34.5		45.8
Malaysia	19.1		-24.9		-33.9		44.8
Thailand	12.9		-12.0		-28.3		33.2
* : December 2009 over December 2008. ** : January-March 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 March 2010, the commodity prices showed a rise of 45.9 per cent (Chart 3). During this month, the prices of energy, food and metals increased by 55.9 per cent, 11.2 per cent and 62.0 per cent, respectively.

Statement 1 : India's Foreign Trade - March 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	69,630	10,474	59,157	95,134	36,625	58,509	-25,504	-26,152	648
	(23.0)	(45.2)	(19.7)	(26.1)	(70.2)	(8.5)
2008-09 R	66,169	7,801	58,368	85,022	21,387	63,635	-18,853	-13,586	-5,267
	(-5.0)	(-25.5)	(-1.3)	(-10.6)	(-41.6)	(8.8)
2009-10 P	90,573	..	..	126,175	35,170	91,005	-35,602	..	..
	(36.9)			(48.4)	(64.4)	(43.0)
US dollar million
2007-08	17,254	2,595	14,659	23,574	9,076	14,498	-6,320	-6,480	161
	(34.1)	(58.4)	(30.6)	(37.6)	(85.6)	(18.4)
2008-09 R	12,916	1,523	11,394	16,597	4,175	12,422	-3,680	-2,652	-1,028
	(-25-1)	(-41.3)	(-22.3)	(-29-6)	(-54.0)	(-14.3)
2009-10 P	19,908	..	..	27,733	7,730	20,003	-7,825	..	..
	(54.1)			(67.1)	(85.2)	(61.0)
P : Provisional. R : Revised. .. Not available. Note : Figures in brackets relate to percentage variation over the corresponding period of the previous year. Sources : Press Release, Ministry of Commerce & Industry and DGCI&S.

Statement 2 : 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-March
Rupees crore
2007-08	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 R	840,754	123398	717,356	1,374,434	419,946	954,488	-533,680	-296,548	-237,132
	(28.2)	(8.1)	(32.4)	(35-8)	(31.0)	(38.0)
2009-10 P	835,264	..	..	1,318,188	404,021	914,166	-482,924	..	..
	(-0.7)			(-4.1)	(-3-8)	(-4.2)
US dollar million
2007-08	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 R	185,295	26,830	158,466	303,696	93,667	210,029	-118,401	-66,838	-51,564
	(13-7)	(-5-4)	(17.8)	(20.8)	(17.6)	(22.3)
2009-10 P	176,574			278,681	85,473	193,208	-102,106
	(-4.7)			(-8.2)	(-8.7)	(-8.0)
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. Sources : Press Release, Ministry of Commerce & Industry and DGCI&S.

Statement 3 : India’s Exports of Principal Commodities
(US$ million)
Commodity/Group		April-October			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	12,611.8	16,200.9	12,520.8	28.5	-22.7
		(14.3)	(13.2)	(13.3)
	A. Agricultural & Allied Products	8,377.0	11,456.8	8,538.6	36.8	-25.5
	of which :	(9.5)	(9.3)	(9.0)
	1. Tea	284.0	372.0	335.1	31.0	-9.9
	2. Coffee	242.1	326.5	223.4	34.9	-31.6
	3. Rice	1,375.2	1,503.7	1,428.0	9.3	-5.0
	4. Wheat	0.0	0.1	0.0	-	-
	5. Cotton Raw incl. Waste	294.7	386.2	361.8	31.1	-6.3
	6. Tobacco	277.2	452.9	557.9	63.4	23.2
	7. Cashew incl. CNSL	303.6	424.1	340.2	39.7	-19.8
	8. Spices	758.1	879.8	702.2	16.1	-20.2
	9. Oil Meal	555.0	1,225.3	800.4	120.8	-34.7
	10.Marine Products	1,076.0	980.8	952.2	-8.8	-2.9
	11.Sugar & Molasses	718.0	974.5	14.8	35.7	-98.5
	B. Ores & Minerals	4,234.8	4,744.1	3,982.2	12.0	-16.1
	of which :	(4.8)	(3.9)	(4.2)
	1. Iron Ore	2,320.4	2,559.4	2,543.2	10.3	-0.6
	2. Processed Minerals	736.7	934.0	690.8	26.8	-26.0
II.	Manufactured Goods	57,620.3	80,289.0	63,529.2	39.3	-20.9
	of which :	(65.3)	(65.3)	(67.3)
	A. Leather & Manufactures	1,997.0	2,267.9	1,854.7	13.6	-18.2
	B. Chemicals & Related Products	11,427.6	14,464.2	12,182.2	26.6	-15.8
	1. Basic Chemicals, Pharmaceuticals & Cosmetics	7,453.6	9,704.9	8,402.0	30.2	-13.4
	2. Plastic & Linoleum	1,868.8	2,088.8	1,778.1	11.8	-14.9
	3. Rubber, Glass, Paints & Enamels, etc.	1,632.7	1,930.4	1,462.5	18.2	-24.2
	4. Residual Chemicals & Allied Products	472.5	740.1	539.6	56.6	-27.1
	C. Engineering Goods	20,379.7	30,810.5	21,973.5	51.2	-28.7
	of which :
	1. Manufactures of Metals	3,772.1	4,726.0	3,132.6	25.3	-33.7
	2. Machinery & Instruments	4,933.5	6,764.8	5,413.6	37.1	-20.0
	3. Transport Equipments	3,704.4	6,702.8	5,884.4	80.9	-12.2
	4. Iron & Steel	3,108.9	4,559.0	1,805.7	46.6	-60.4
	5. Electronic Goods	1,820.7	4,271.3	3,626.1	134.6	-15.1
	D. Textiles and Textile Products	10,930.7	12,056.4	10,791.2	10.3	-10.5
	1. Cotton Yarn, Fabrics, Made-ups, etc.	2,589.9	2,698.7	1,875.9	4.2	-30.5
	2. Natural Silk Yarn, Fabrics Made-ups, etc. (incl.silk waste)	222.9	235.8	172.2	5.8	-27.0
	3. Manmade Yarn, Fabrics, Made-ups, etc.	1,643.8	1,956.6	2,034.6	19.0	4.0
	4. Manmade Staple Fibre	139.4	182.8	185.7	31.1	1.6
	5. Woollen Yarn, Fabrics, Made-ups, etc.	49.4	60.9	51.0	23.3	-16.2
	6. Readymade Garments	5,457.4	6,120.0	5,870.2	12.1	-4.1
	7. Jute & Jute Manufactures	190.8	208.3	128.9	9.2	-38.1
	8. Coir & Coir Manufactures	91.8	91.5	94.1	-0.3	2.8
	9. Carpets	545.3	501.8	378.6	-8.0	-24.5
	(a) Carpet Handmade	536.3	497.7	374.1	-7.2	-24.8
	(b) Carpet Millmade	0.0	0.0	0.0	-	-
	(c) Silk Carpets	8.9	4.1	4.6	-54.1	11.5
	E. Gems & Jewellery	11,747.2	19,619.8	15,732.3	67.0	-19.8
	F. Handicrafts	382.2	197.6	122.2	-48.3	-38.2
III.	Petroleum Products	15,125.4	20,845.5	13,381.5	37.8	-35.8
		(17.1)	(16.9)	(14.2)
IV.	Others	2,876.1	5,702.2	4,947.2	98.3	-13.2
		(3.3)	(4.6)	(5.2)
Total Exports		88,233.6	123,037.6	94,378.6	39.4	-23.3
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-October			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	35,586.8	44,166.6	34,602.9	24.1	-21.7
	A. E U	18,840.2	24,867.2	19,281.0	32.0	-22.5
	Of which:
	1. Belgium	2,428.6	3,121.0	1,954.7	28.5	-37.4
	2. France	1,393.0	1,812.3	1,789.6	30.1	-1.2
	3. Germany	2,845.3	3,924.9	2,856.1	37.9	-27.2
	4. Italy	2,204.7	2,453.2	1,737.8	11.3	-29.2
	5. Netherlands	2,506.6	3,981.1	3,760.2	58.8	-5.5
	6. U K	3,794.6	4,251.1	3,434.5	12.0	-19.2
	B. North America	12,727.6	14,593.9	11,265.1	14.7	-22.8
	1. Canada	716.2	841.6	637.6	17.5	-24.2
	2. U S A	12,011.4	13,752.3	10,627.5	14.5	-22.7
	C. Asia and Oceania	2,651.0	2,930.9	2,787.0	10.6	-4.9
	Of which:
	1. Australia	674.3	916.9	781.7	36.0	-14.7
	2. Japan	1,895.4	1,883.0	1,825.1	-0.7	-3.1
	D. Other O E C D Countries	1,368.0	1,774.5	1,269.8	29.7	-28.4
	Of which:
	1. Switzerland	341.0	461.4	329.3	35.3	-28.6
II.	O P E C	15,309.8	27,247.2	21,047.2	78.0	-22.8
	Of which:
	1. Indonesia	971.3	1,813.1	1,835.5	86.7	1.2
	2. Iran	1,424.2	1,584.9	1,070.5	11.3	-32.5
	3. Iraq	117.0	286.1	308.8	144.6	7.9
	4. Kuwait	370.7	520.9	433.3	40.5	-16.8
	5. Saudi Arabia	1,965.8	3,724.0	2,370.7	89.4	-36.3
	6. U A E	8,966.5	17,157.1	12,837.4	91.3	-25.2
III.	Eastern Europe	976.4	1,376.3	936.7	41.0	-31.9
	Of which:
	1. Russia	506.6	746.3	514.3	47.3	-31.1
IV.	Developing Countries	35,616.9	46,143.5	35,005.6	29.6	-24.1
	Of which:
	A. Asia	25,860.9	33,695.4	26,385.0	30.3	-21.7
	a) S A A R C	4,635.1	5,604.7	4,261.0	20.9	-24.0
	1. Afghanistan	136.6	218.1	295.8	59.6	35.6
	2. Bangladesh	1,241.4	1,648.7	1,260.2	32.8	-23.6
	3. Bhutan	49.1	67.0	57.2	36.3	-14.6
	4. Maldives	48.2	65.5	45.1	35.8	-31.1
	5. Nepal	752.8	982.2	748.5	30.5	-23.8
	6. Pakistan	917.1	922.1	878.6	0.5	-4.7
	7. Sri Lanka	1,489.7	1,701.0	975.6	14.2	-42.6
	b) Other Asian Developing Countries	21,225.8	28,090.8	22,124.1	32.3	-21.2
	Of which:
	1. People’s Republic of China	4,718.3	5,339.1	4,819.6	13.2	-9.7
	2. Hong Kong	3,532.6	4,392.3	4,257.0	24.3	-3.1
	3. South Korea	1,362.9	2,245.5	1,555.6	64.8	-30.7
	4. Malaysia	1,237.3	1,795.2	1,767.1	45.1	-1.6
	5. Singapore	3,831.8	6,168.1	3,736.1	61.0	-39.4
	6. Thailand	1,014.9	1,389.6	923.7	36.9	-33.5
	B. Africa	6,948.3	8,192.4	5,900.7	17.9	-28.0
	Of which:
	1. Benin	131.6	123.0	110.0	-6.5	-10.6
	2. Egypt Arab Republic	757.6	1,233.8	731.1	62.9	-40.7
	3. Kenya	720.4	981.3	889.1	36.2	-9.4
	4. South Africa	1,466.9	1,363.0	1,272.8	-7.1	-6.6
	5. Sudan	223.0	293.8	251.1	31.8	-14.5
	6. Tanzania	326.1	720.3	552.9	120.9	-23.2
	7. Zambia	90.6	67.6	47.8	-25.4	-29.3
	C. Latin American Countries	2,807.6	4,255.6	2,719.9	51.6	-36.1
V.	Others	610.5	996.4	343.7	63.2	-65.5
VI.	Unspecified	133.3	3,107.7	2,442.6	—	-21.4
Total Exports		88,233.6	123,037.6	94,378.6	39.4	-23.3
P : Provisional. R : Revised. Source : DGCI & S

Statement 5 : India’s Imports of Principal Commodities
(US$ million)
Commodity/Group		April-October			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	60,168.5	102,674.8	66,150.3	70.6	-35.6
		(42.6)	(48.7)	(44.2)
	A. Petroleum, Petroleum Products	41,115.0	70,569.7	45,835.5	71.6	-35.0
	& Related Material	(29.1)	(33.5)	(30.6)
	B. Bulk Consumption Goods	2,553.8	2,652.0	4,454.7	3.8	68.0
	1. Wheat	117.3	0.0	0.0	—	—
	2. Cereals & Cereal Preparations	21.5	27.5	25.3	27.9	-8.0
	3. Edible Oil	1,673.5	1,884.8	2,919.1	12.6	54.9
	4. Pulses	741.0	732.6	961.6	-1.1	31.3
	5. Sugar	0.5	7.1	548.6	—	—
	C. Other Bulk Items	16,499.7	29,453.1	15,860.1	78.5	-46.2
	1. Fertilisers	2,965.3	10,231.8	4,056.9	245.0	-60.4
	a) Crude	242.5	684.1	356.9	182.1	-47.8
	b) Sulphur & Unroasted Iron Pyrites	129.7	596.0	57.0	359.6	-90.4
	c) Manufactured	2,593.2	8,951.6	3,643.0	245.2	-59.3
	2. Non-Ferrous Metals	1,964.7	4,959.0	1,732.0	152.4	-65.1
	3. Paper, Paperboard & Mgfd. incl. Newsprint	827.3	1,195.4	834.5	44.5	-30.2
	4. Crude Rubber, incl. Synthetic & Reclaimed	437.8	677.1	557.9	54.7	-17.6
	5. Pulp & Waste Paper	454.4	534.0	450.1	17.5	-15.7
	6. Metalliferrous Ores & Metal Scrap	4,661.1	5,659.4	3,694.6	21.4	-34.7
	7. Iron & Steel	5,189.1	6,196.5	4,534.1	19.4	-26.8
II.	Non-Bulk Imports	80,912.1	108,190.0	83,666.4	33.7	-22.7
		(57.4)	(51.3)	(55.8)
	A. Capital Goods	30,928.1	45,217.6	34,315.2	46.2	-24.1
	1. Manufactures of Metals	1,253.2	2,075.4	1,344.2	65.6	-35.2
	2. Machine Tools	1,141.8	1,487.6	910.4	30.3	-38.8
	3. Machinery except Electrical & Electronics	10,044.6	13,811.9	10,780.2	37.5	-21.9
	4. Electrical Machinery except Electronics	1,624.8	2,453.4	1,798.4	51.0	-26.7
	5. Electronic Goods incl. Computer Software	12,659.9	15,493.8	13,555.3	22.4	-12.5
	6. Transport Equipments	3,457.5	8,071.1	3,491.5	133.4	-56.7
	7. Project Goods	746.3	1,824.3	2,435.1	144.5	33.5
	B. Mainly Export Related Items	12,843.0	22,558.1	15,548.6	75.6	-31.1
	1. Pearls, Precious & Semi-Precious Stones	5,486.4	11,634.3	7,087.4	112.1	-39.1
	2. Chemicals, Organic & Inorganic	5,649.9	8,817.7	6,613.8	56.1	-25.0
	3. Textile Yarn, Fabric, etc.	1,444.0	1,659.1	1,451.5	14.9	-12.5
	4. Cashew Nuts, raw	262.7	447.0	395.9	70.2	-11.4
	C. Others	37,140.9	40,414.3	33,802.9	8.8	-16.4
	of which :
	1. Gold & Silver	12,709.7	16,749.7	14,013.3	31.8	-16.3
	2. Artificial Resins & Plastic Materials	2,101.9	2,581.7	2,747.8	22.8	6.4
	3. Professional Instruments etc. except electrical	1,725.8	2,679.6	2,079.6	55.3	-22.4
	4. Coal, Coke & Briquettes etc.	3,465.0	6,805.7	4,879.0	96.4	-28.3
	5. Medicinal & Pharmaceutical Products	982.4	1,122.9	1,170.4	14.3	4.2
	6. Chemical Materials & Products	931.2	1,373.6	1,320.2	47.5	-3.9
	7. Non-Metallic Mineral Manufactures	577.7	774.3	604.0	34.0	-22.0
Total Imports		141,080.6	210,864.8	149,816.7	49.5	-29.0
Memo Items
Non-Oil Imports		99,965.6	140,295.1	103,981.2	40.3	-25.9
Non-Oil Imports excl. Gold & Silver		87,255.8	123,545.4	89,967.8	41.6	-27.2
Mainly Industrial Inputs*		80,383.1	109,262.2	79,790.7	35.9	-27.0
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-October			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	45,521.3	65,738.1	48,549.4	44.4	-26.1
	A. E U	19,507.6	27,898.1	20,058.4	43.0	-28.1
	Of which:
	1. Belgium	3,066.9	4,371.1	3,043.6	42.5	-30.4
	2. France	1,369.6	2,957.0	1,682.2	115.9	-43.1
	3. Germany	5,185.4	7,081.3	5,560.2	36.6	-21.5
	4. Italy	2,077.2	2,966.8	2,002.6	42.8	-32.5
	5. Netherlands	924.5	1,265.0	1,079.2	36.8	-14.7
	6. U K	3,000.9	4,017.5	2,453.6	33.9	-38.9
	B. North America	8,859.9	13,755.4	9,886.7	55.3	-28.1
	1. Canada	1,021.3	1,480.2	1,117.6	44.9	-24.5
	2. U S A	7,838.7	12,275.2	8,769.1	56.6	-28.6
	C. Asia and Oceania	8,811.1	12,937.7	10,326.2	46.8	-20.2
	Of which:
	1. Australia	5,060.2	7,545.1	6,368.8	49.1	-15.6
	2. Japan	3,551.1	5,122.5	3,671.5	44.3	-28.3
	D. Other O E C D Countries	8,342.7	11,146.9	8,278.2	33.6	-25.7
	Of which:
	1. Switzerland	6,855.1	9,231.6	6,770.9	34.7	-26.7
II.	O P E C	40,665.0	73,728.9	46,766.0	81.3	-36.6
	Of which:
	1. Indonesia	2,730.1	3,988.2	4,612.8	46.1	15.7
	2. Iran	5,594.6	8,782.0	6,647.1	57.0	-24.3
	3. Iraq	3,319.8	6,103.1	3,980.9	83.8	-34.8
	4. Kuwait	3,676.1	7,124.9	4,192.8	93.8	-41.2
	5. Saudi Arabia	9,678.6	15,174.1	8,614.7	56.8	-43.2
	6. U A E	7,310.1	17,667.4	8,844.1	141.7	-49.9
III.	Eastern Europe	2,169.4	4,586.2	3,562.1	111.4	-22.3
	Of which:
	1. Russia	1,330.0	2,914.2	2,264.0	119.1	-22.3
IV.	Developing Countries	44,368.3	65,591.1	49,936.0	47.8	-23.9
	Of which:
	A. Asia	35,803.8	53,131.8	39,799.0	48.4	-25.1
	a) S A A R C	1,000.1	1,210.9	858.3	21.1	-29.1
	1. Afghanistan	46.4	69.9	55.0	50.6	-21.2
	2. Bangladesh	163.0	216.8	144.4	33.0	-33.4
	3. Bhutan	117.0	98.4	78.6	-15.9	-20.1
	4. Maldives	2.3	2.6	1.0	12.7	-59.8
	5. Nepal	244.2	328.4	251.7	34.5	-23.3
	6. Pakistan	149.4	262.1	144.1	75.5	-45.0
	7. Sri Lanka	277.9	232.7	183.4	-16.3	-21.2
	b) Other Asian Developing Countries	34,803.7	51,920.9	38,940.7	49.2	-25.0
	Of which:
	1. People’s Republic of China	15,343.7	21,501.6	17,345.0	40.1	-19.3
	2. Hong Kong	1,631.1	3,902.8	2,237.4	139.3	-42.7
	3. South Korea	3,264.1	5,916.3	4,243.2	81.3	-28.3
	4. Malaysia	3,439.8	4,855.1	2,790.3	41.1	-42.5
	5. Singapore	4,192.7	5,160.7	3,507.9	23.1	-32.0
	6. Thailand	1,391.0	1,774.5	1,670.1	27.6	-5.9
	B. Africa	5,491.6	8,957.3	6,558.2	63.1	-26.8
	Of which:
	1. Benin	57.3	100.0	106.8	74.4	6.8
	2. Egypt Arab Republic	1,136.6	1,363.3	940.8	19.9	-31.0
	3. Kenya	50.6	49.8	45.9	-1.6	-7.8
	4. South Africa	2,235.7	3,848.9	3,072.1	72.2	-20.2
	5. Sudan	150.4	330.2	246.5	119.6	-25.4
	6. Tanzania	38.9	52.6	103.3	35.1	96.4
	7. Zambia	60.8	95.5	54.6	57.1	-42.8
	C. Latin American Countries	3,073.0	3,502.1	3,578.9	14.0	2.2
V.	Others	7,977.8	540.6	335.0	-93.2	-38.0
VI.	Unspecified	378.8	679.8	668.1	79.5	-1.7
Total Imports		141,080.6	210,864.8	149,816.7	49.5	-29.0
P : Provisional. R : Revised. 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, May 2010.