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

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Published on July 10, 2009

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

Based on the data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), this article reviews India’s merchandise trade for April 2009 and commodity-wise details for 2008-09 (April-February).

Highlights

India’s merchandise exports during April 2009 at US$ 10.7 billion recorded a sharp decline of 33.2 per cent as against an increase of 46.8 per cent registered in April 2008. This is the seventh successive month that exports have shown decline since October 2008.
Imports during April 2009 at US$ 15.7 billion showed a substantial decline of 36.6 per cent as against a growth of 39.7 per cent in April 2008, due to decline in both oil and non-oil imports.
Petroleum, oil and lubricants (POL) imports during April 2009 at US$ 3.6 billion recorded a sharp decline of 58.5 per cent, as against an increase of 59.3 per cent in April 2008, mainly due to substantial fall in international crude oil prices over the year. The average price of Indian basket of crude oil during April 2009 stood at US$ 50.1 per barrel, which was lower by 52.6 per cent than US$ 105.8 per barrel during April 2008.
Non-POL imports during April 2009 at US$ 12.1 billion showed a decline of 24.6 per cent as against an increase of 30.9 per cent a year ago, reflecting slowdown in domestic economic activity.
Trade deficit during April 2009 stood at US$ 5.0 billion, which was lower by US$ 3.7 billion (42.8 per cent) than US$ 8.7 billion in April 2008, due to larger decline in oil imports.

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

Exports

India’s merchandise exports during April 2009 at US$ 10.7 billion recorded a sharp decline of 33.2 per cent, as against an increase of 46.8 per cent registered in April 2008 (Table 1 and Statement 1).

This is the seventh successive month that exports have shown a decline since October 2008 (Chart 1). The declining trend in exports, which has occurred after a high growth phase witnessed since 2002-03, is primarily due to severe demand recession faced by India’s major markets in the aftermath of global economic crisis, as also continuous and sharp decline in the world prices of commodities (Chart 3). Moreover, sharp decline in exports in April 2009 is also the result of high base effect, as exports had shown a high growth in April 2008.

Table 1: India's Merchandise Trade : April
(US $ billion)
Items	2008-09 (April) R		2009-10 (April) P
1	2		3
Exports		16.1		10.7
		(46.8)		(-33.2)
Oil Exports	2.8		24.9*
	(33.8)		(2.4)*
Non-Oil Exports	13.3		128.1*
	(49.8)		(7.4)*
Imports		24.8		15.7
		(39.7)		(-36.6)
Oil Imports	8.7		3.6
	(59.3)		(-58.5)
Non-Oil Imports	16.1		12.1
	(30.9)		(-24.6)
Trade Balance		-8.7		-5.0
Oil Trade Balance	-6.0		-61.5*
Non-Oil Trade Balance	-2.8		-48.8*
* : Figures pertain to 2008-09 (April-February) R : Revised. P : Provisional. Note : Figures in parentheses show percentage change over the corresponding period of the previous year. Source : DGCI&S.

The latest commodity-wise exports datareleased by DGCI&S for the period 2008-09(April-February) revealed that manufacturedgoods continued to maintain the largestshare at 65.9 per cent, followed bypetroleum products (16.3 per cent) andprimary products (15.2 per cent) [Table 2].

During 2008-09 (April-February) exports of all major commodity groups slowed down, except for engineering goods, which maintained the growth. Exports of agricultural and allied products, ores and minerals and gems and jewellery declined, while those of leather and manufactures, chemicals and related products, textiles and textile products and petroleum products showed deceleration in growth during the period (Statement 2).

Exports of primary products during 2008-09 (April-February) declined by 3.6 per cent as against growth of 38.6 per cent a year ago, due to decline in all its major components. Within the primary products, agricultural and allied products exports at US$ 16.0 billion showed a decline of 0.9 per cent as against a high growth of 44.2 per cent during the previous year, due to negative growth witnessed since September 2008. Slowdown in agricultural and allied products exports was mainly due to decline in rice, cotton, marine products, sugar and molasses and deceleration in export growth of oil meal and spices. Ores and minerals declined by 8.9 per cent during the period (28.4 per cent growth a year ago), mainly due decline in iron ore. This resulted from the substantial fall in exports of iron ore to the main market of China.

Table 2: India’s Exports of Principal Commodities
(Percentage Shares)
Commodity		2006-07	2007-08	2007-08	2008-09
Commodity		April-March		April-February
1		2	3	4	5
I.	Primary products	15.6	16.9	16.8	15.2
	Agriculture and allied products	10.0	11.3	11.2	10.4
	Ores and minerals	5.5	5.6	5.5	4.7
II.	Manufactured goods	67.2	63.2	63.8	65.9
	Leather and
	manufactures	2.4	2.2	2.2	2.2
	Chemicals and
	Related products	13.7	13.0	12.9	13.4
	Engineering goods	23.4	22.9	22.9	26.6
	Textiles and textile
	products	13.7	11.9	12.1	11.6
	Gems and jewellery	12.6	12.1	12.4	11.2
III.	Petroleum products	14.8	17.4	16.9	16.3
IV.	Others	2.4	2.5	2.5	2.6
Total Exports		100.0	100.0	100.0	100.0
Source : DGCI&S.

Exports of manufactured goods during 2008-09 (April-February) at US$ 100.9 billion exhibited deceleration in growth to 10.1 per cent from 20.2 per cent a year ago, due to deceleration/decline in its major components. Within manufactured goods, exports of engineering goods, which is the largest item in India’s exports, at US$ 40.7 billion maintained the growth at 23.5 per cent on the top of 24.4 per cent growth a year ago, mainly due to strong growth attained during April-September 2008. Growth in engineering goods exports was contributed largely by transport equipments, iron and steel and electronic goods. Exports of transport equipments, which is a major component of engineering goods, to principal markets, viz., Singapore, Malaysia and the US increased substantially. The share of engineering goods in total exports has gone up remarkably during the period to 26.6 per cent from 22.9 per cent, as a result of high growth maintained by engineering goods in contrast with a slowdown in all other major commodity groups.

Chemicals and related products exports during 2008-09 (April-February) at US$ 20.5 billion showed moderation in growth to 10.9 per cent from 18.9 per cent during the corresponding period of the previous year, due to decline witnessed in the second half of 2008-09. The slowdown in the exports of chemicals and related products was primarily due to deceleration in growth of its largest component, viz., ‘basic chemicals, pharmaceuticals and cosmetics’ as also in other major components, and a decline in plastic and linoleum.

Exports of textiles and textile products during 2008-09 (April-February) at US$ 17.7 billion showed a sharp moderation in growth to 1.4 per cent from 10.7 per cent a year ago, due to moderate growth during May-July 2008 and a decline in the subsequent period. Readymade garments, which is the largest component of textiles and textile products exhibited a deceleration in growth and exports of most of the other components such as cotton yarn, fabrics and made-ups declined.

Gems and jewellery exports during 2008-09 (April-February) at US$ 17.2 billion recorded a decline of 3.7 per cent (growth of 25.3 per cent a year ago), because of the decline in most of the months during this period. This was primarily due to fall in these exports to the largest market, i.e., the US. According to the latest data released by the Gem and Jewellery Export Promotion Council (GJEPC), export growth in gems and jewellery during 2008-09 (April-March) drastically slowed down to 1.5 per cent.

Exports of petroleum products, which is the second largest item in India’s exports, at US$ 24.9 billion during 2008-09 (April- February) registered a sharp deceleration in growth to 2.4 per cent from 42.6 per cent a year ago, due to continuous decline witnessed since October 2008. This was the result of persistent and sharp decline in world oil prices since August 2008 (Chart 3), as also fall in the volume of petroleum products exports. The volume of these exports declined by 8.8 per cent during the period as against the growth of 17.1 per cent a year back, as a result of reduction in demand for petroleum products from India’s major markets consequent to a slowdown in world industrial activity.

Destination-wise, during 2008-09 (April-February), among the regions, developing countries and OECD countries were the major markets for India’s exports with each group accounting for 39.3 per cent share (Table 3). Another major contributor was OPEC with 19.4 per cent share. Country-wise, the US continued to be the single largest destination for India. However, its share declined to 12.0 per cent from 13.0 per cent during previous year. The US was followed by the UAE (10.8 per cent), China (5.1 per cent), Singapore (4.8 per cent) and Hong Kong (3.7 per cent). Direction of India’s exports during 2008-09 (April-February) indicated that the exports growth to EU, OPEC, Eastern Europe and Latin American developing countries decelerated, while exports to North America, Asia & Oceania and Asian & African developing countries showed a decline (Statement 3).

Table 3: India’s Exports to Principal Regions
(Percentage Share)
Region		2006-07	2007-08	2007-08	2008-09
Region		April-March		April-February
1		2	3	4	5
I.	OECD countries	41.2	38.5	39.8	39.3
	EU	20.4	20.2	21.3	22.3
	North America	15.8	13.5	13.8	12.8
	U.S.	14.9	12.7	13.0	12.0
	Asia and Oceania	3.4	3.2	3.0	2.7
	Other OECD countries	1.6	1.6	1.7	1.5
II.	OPEC	16.4	16.4	16.6	19.4
III.	Eastern Europe	2.0	2.1	1.1	1.2
IV.	Developing countries	40.2	42.7	42.1	39.3
	Asia	29.8	31.6	31.3	29.1
	SAARC	5.1	5.9	5.7	5.0
	Other Asian developing
	countries	24.6	25.7	25.7	24.1
	Africa	7.0	7.7	7.6	6.8
	Latin America	3.4	3.4	3.2	3.5
V.	Others	0.3	0.4	0.3	0.9
Total Exports		100.0	100.0	100.0	100.0
Source : DGCI&S.

Imports

India’s merchandise imports during April 2009 at US$ 15.7 billion recorded a sharp decline of 36.6 per cent as against a high growth of 39.7 per cent in April 2008, because of decline in both POL and non-POL imports (Table 1 and Statement 1). This is the fifth successive month that imports have shown a decline since December 2008 (Chart 1). The decline in imports, which has occurred after a high growth phase witnessed since 2002-03, is mainly due to slowdown in domestic economic activity in the aftermath of global economic crisis. Besides, large decline in imports witnessed in April 2009 is also the result of high base effect, as imports had shown a high growth in April 2008.

POL imports during April 2009 at US$ 3.6 billion showed a heavy fall of 58.5 per cent in contrast with a strong growth of 59.3 per cent in April 2008, mainly due to substantial decline in international crude oil prices. The average price of Indian basket of crude oil during April 2009 stood at US$ 50.1 per barrel, which was lower by 52.6 per cent than US$ 105.8 per barrel during April 2008 (Table 4). Non-POL imports during April 2009 at US$ 12.1 billion showed a decline of 24.6 per cent (30.9 per cent growth in April 2008) due to reduction in domestic demand arising from moderation in economic growth.

The latest commodity-wise imports data released by DGCI&S for the period 2008-09 (April-February) indicated that POL imports at US$ 86.4 billion showed a deceleration in growth to 22.4 per cent from 35.3 per cent a year ago, mainly due to a sharp reduction in international crude oil prices since August 2008, as also due to a slowdown in the growth of volume of POL imports, which moderated to 7.3 per cent from 9.8 per cent a year ago. The deceleration in the growth of volume of POL imports was primarily due to reduction in demand for POL products as a result of a slowdown in domestic industrial activity (Statement 4).

Table 4: Trends in Crude Oil Prices
(US $/barrel)
Year	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
April 2008	103.5	110.2	112.6	105.8
April 2009	50.2	50.9	49.8	50.1
* : 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 62.3:37.7 for 2008-09. Sources**: International Monetary Fund, International Financial Statistics; World Bank’s Commodity Price Pink Sheet for May 2009; Ministry of Petroleum and Natural Gas, Government of India.

Non-POL imports during 2008-09 (April-February) at US$ 176.9 billion witnessed moderation in growth to 21.4 per cent from 32.0 per cent during the corresponding period of the previous year. Slowdown in non-POL imports was mainly due to a sharp deceleration in import growth of capital goods (22.0 per cent share in total imports), gold and silver (6.8 per cent share) and chemicals (4.3 per cent share). However, imports of pearls, precious and semi-precious stones and fertilisers exhibited substantially higher growth during the period. The shares of capital goods, gold and silver, metalliferrous ores and metal scrap in total imports came down during the period, while those of pearls, precious and semiprecious stones, fertilisers, coal, coke and briquettes went up. The share of POL, which is the single largest component of imports (32.8 per cent share), has remained almost at the same level (Table 5).

Source-wise, during 2008-09 (April-February), OPEC had the highest share in India’s imports (33.2 per cent), followed by developing countries (32.6 per cent) and OECD countries (31.3 per cent) [Table 6]. Country-wise, China continued to be the single largest source of imports with a share of 10.7 per cent in total imports, followed by Saudi Arabia (7.1 per cent), the UAE (6.5 per cent), the US (6.0 per cent), Iran (4.3 per cent) and Switzerland (4.2 per cent). Direction of India’s imports during 2008-09 (April-February) indicated that growth of imports from EU, North America, Asia & Oceania, OPEC, Asian & African developing countries decelerated, while imports from Latin American developing countries declined (Statement 5).

Table 5: India’s Imports of Principal Commodities
(Percentage Share)
Commodity		2006-07	2007-08	2007-08	2008-09
		(April- March)		(April-February)
1		2	3	4	5
1.	Petroleum, crude and products	30.8	31.7	32.6	32.8
2.	Capital goods	25.3	28.2	24.4	22.0
3.	Gold and silver	7.9	7.1	7.6	6.8
4.	Organic and inorganic chemicals	4.2	3.9	4.2	4.3
5.	Coal, coke and briquettes, etc.	2.5	2.6	2.7	3.6
6.	Fertilisers	1.7	2.2	2.4	5.1
7.	Metalliferrous ores, metal scrap, etc.	4.5	3.1	3.3	2.9
8.	Iron and steel	3.5	3.5	3.7	3.3
9.	Pearls, precious and semiprecious stones	4.0	3.2	3.4	4.9
10.	Others	19.6	18.7	20.1	19.6
Total Imports		100.0	100.0	100.0	100.0
Source: DGCI&S.

Trade Deficit

The overall trade deficit during April 2009 stood at US$ 5.0 billion, which was lower by US$ 3.7 billion (42.8 per cent) than US$ 8.7 billion in April 2008, due to relatively higher decline in imports than exports during the month (Statement 1 and Chart 1). Trade deficit on oil account during 2008-09 (April-February) stood at US$ 61.5 billion, which was higher by US$ 15.2 billion than US$ 46.3 billion a year ago. Trade deficit on non-oil account during this period stood at US$ 48.8 billion, which was higher by US$ 22.4 billion than US$ 26.4 billion a year back.

Table 6: Shares of Groups/Countries in India’s Imports
(Percentage Shares)
Group/Country		2006-07	2007-08	2007-08	2008-09
Group/Country		April-March		April-February
1		2	3	4	5
I.	O E C D Countries	34.5	34.8	32.7	31.3
	E U	15.3	14.6	14.6	13.5
	France	2.3	2.5	1.2	1.1
	Germany	4.1	3.9	4.0	3.6
	U K	2.2	2.0	2.1	2.1
	North America	7.3	9.1	6.5	6.7
	U S	6.3	8.4	5.6	6.0
	Asia and Oceania	6.4	5.8	6.1	5.9
	Other OECD Countries	5.5	5.2	5.5	5.2
II.	O P E C	30.2	30.3	31.8	33.2
III.	Eastern Europe	2.7	2.1	1.7	2.4
IV.	Developing Countries	32.2	32.1	33.5	32.6
	Asia	25.5	25.5	27.1	26.4
	S A A R C	0.8	0.8	0.9	0.6
	Other Asian Developing Countries	24.7	24.7	26.2	25.7
	of which:
	People’s Rep. of China	9.4	10.8	11.5	10.7
	Africa	3.7	4.1	4.0	4.4
	Latin America	3.0	2.4	2.4	1.9
V.	Others	0.5	0.8	0.4	0.4
Total Imports		100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Global Trade

The persisting slowdown in the world economy caused by global economic crisis continued to impinge the world merchandise trade. World merchandise exports, which started showing a decline since November 2008, continued the declining trend in 2009 with much larger rates of decline in the first two months of 2009 (Chart 2). According to International Monetary Fund’s (IMF) International Financial Statistics, world merchandise exports during January-February 2009, in dollar terms, showed a negative growth of (-) 29.3 per cent as against a high growth of 23.9 per cent a year ago (Table 7). Exports from advanced economies declined by 31.3 per cent (growth of 23.0 per cent a year back), while exports from emerging and developing economies declined by 27.3 per cent in January 2009 as against a growth of 26.9 per cent during January 2008.

Table 7: Growth in Exports-Global Scenario
(Per cent)
Region/Country	2007	2008	2008	2009
Region/Country	January-December		January-February
1	2	3	4	5
World	13.9	14.3	23.9	-29.3
Advanced Economies	13.5	11.3	23.0	-31.3
US	12.0	11.9	20.2	-22.7
France	12.3	9.8	25.7	-30.2
Germany	18.0	10.8	23.2	-32.3
Japan	7.8	12.3	33.0	-43.9
Emerging and Developing Economies	14.7	21.1	24.1	-27.3*
Singapore	10.1	13.0	24.8	-35.0
China	25.6	17.3	16.8	-21.9
India	21.5	20.6	39.2	-25.1
Indonesia	14.7	24.4	29.7	-33.5
Korea	14.1	13.6	16.8	-26.4
Malaysia	9.6	19.1	21.2	-29.9
Thailand	17.0	12.9	28.7	-21.3
* : Pertains to January 2009 over January 2008. Sources : 1. IMF (www.imfstatistics.org). 2. DGCI&S for India.

World Commodity Prices

The world commodity prices, which showed deceleration in August 2008 started declining since September 2008 and the decline continued in 2009 as well (Chart 3). According to the IFS, world commodity prices declined substantially by 42.9 per cent in February 2009. The prices of energy, food and metals declined by 49.0 per cent, 24.7 per cent and 46.9 per cent, respectively.

Statement 1 : 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	5,71,779	84,520	4,87,259	8,40,506	2,58,572	5,81,935	-2,68,727	-1,74,052	-94,675
	(25.3)	(64.0)	(20.3)	(27.3)	(32.8)	(24.9)
2007-08 R	6,55,863	1,14,192	5,41,672	10,12,312	3,20,655	6,91,658	-3,56,449	-2,06,463	-1,49,986
	(14.7)	(35.1)	(11.2)	(20.4)	(24.0)	(18.9)
2008-09 P	7,66,935	..	..	13,05,503	4,17,472	8,88,031	-5,38,569
	(16.9)			(29.0)	(30.2)	(28.4)
US dollar million
2006-07	126,361	18,679	107,683	185,749	57,144	128,606	-59,388	-38,465	-20,923
	(22.6)	(60.5)	(17.7)	(24.5)	(30.0)	(22.2)
2007-08 R	163,132	28,363	134,769	251,654	79,715	171,940	-88,522	-51,352	-37,171
	(29.1)	(51.8)	(25.2)	(35.5)	(39.5)	(33.7)
2008-09 P	168,704	24,885*	128,133*	287,759	93,176	194,584	-119,055
	(3.4)	(2.4)	(7.4)	(14.3)	(16.9)	(13.2)
SDR million
2006-07	85,018	12,567	72,451	124,975	38,447	86,528	-39,957	-25,880	-14,077
	(20.1)	(57.3)	(15.4)	(22.0)	(27.4)	(19.8)
2007-08 R	104,686	18,227	86,459	161,581	51,181	110,399	-56,895	-32,955	-23,940
	(23.1)	(45.0)	(19.3)	(29.3)	(33.1)	(27.6)
2008-09 P	107,599	..	..	183,159	58,570	124,589	-75,560
	(2.8)			(13.4)	(14.4)	(12.9)
April
Rupees crore
2007-08	46,164	8,796	37,368	74,895	23,154	51,740	-28,731	-14,358	-14,373
	(19.6)	(108.0)	(8.7)	(32.9)	(29.7)	(34.4)
2008-09 R	64,340	11,173	53,167	99,347	35,016	64,331	-35,007	-23,843	-11,164
	(39.4)	(27.0)	(42.3)	(32.6)	(51.2)	(24.3)
2009-10 P	53,779			78,832	18,190	60,642	-25,053
	(-16.4)			(-20.6)	(-48.1)	(-5.7)
US dollar million
2007-08	10,953	2,087	8,866	17,769	5,494	12,276	-6,817	-3,407	-3,410
	(27.5)	(121.8)	(15.9)	(41.8)	(38.3)	(43.4)
2008-09 R	16,076	2,792	13,284	24,823	8,749	16,074	-8,747	-5,957	-2,789
	(46.8)	(33.8)	(49.8)	(39.7)	(59.3)	(30.9)	(28.3)
2009-10 P	10,743	..	..	15,747	3,634	12,113	-5,004
	(-33.2)			(-36.6)	(-58.5)	(-24.6)	(-42.8)
SDR million
2007-08	7,196	1,371	5,825	11,675	3,609	8,065	-4,479	-2,238	-2,240
	(21.7)	(111.6)	(10.6)	(35.3)	(32.0)	(36.8)
2008-09 R	9,825	1,706	8,119	15,171	5,347	9,824	-5,346	-3,641	-1,705
	(36.5)	(24.4)	(39.4)	(30.0)	(48.2)	(21.8)
2009-10 P	7,199	..	..	10,553	2,435	8,118	-3,354
	(-26.7)			(-30.4)	(-54.5)	(-17.4)
P : Provisional. R : Revised. .. : Not available. * : Figures pertain to the period of April-February. 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 : DGCI & S.

Statement 2 : India’s Exports of Principal Commodities
(US$ million)
Commodity/Group				April-February			Percentage Variation
Commodity/Group				2006-07	2007-08	2008-09 P	(3)/(2)	(4)/(3)
1				2	3	4	5	6
I.	Primary Products			17,368.6	24,067.6	23,210.8	38.6	-3.6
				(15.3)	(16.8)	(15.2)
	A.	Agricultural & Allied Products		11,176.6	16,119.1	15,968.5	44.2	-0.9
		of which :		(9.9)	(11.2)	(10.4)
		1.	Tea	411.2	459.9	522.1	11.8	13.5
		2.	Coffee	378.9	371.9	431.9	-1.8	16.1
		3.	Rice	1,355.8	2,572.4	2,160.0	89.7	-16.0
		4.	Wheat	7.7	0.1	0.3	–99.3	453.6
		5.	Cotton Raw incl. Waste	1,187.2	1,638.8	550.8	38.0	-66.4
		6.	Tobacco	328.5	432.1	647.4	31.5	49.8
		7.	Cashew incl. CNSL	500.6	490.6	598.5	-2.0	22.0
		8.	Spices	607.1	1,154.6	1,264.1	90.2	9.5
		9.	Oil Meal	1,042.6	1,714.2	2,114.1	64.4	23.3
		10.	Marine Products	1,618.0	1,588.9	1,433.0	-1.8	-9.8
		11.	Sugar & Mollases	620.8	1,199.9	987.6	93.3	-17.7
	B.	Ores & Minerals		6,192.0	7,948.5	7,242.4	28.4	-8.9
		Of which :		(5.5)	(5.5)	(4.7)
		1.	Iron Ore	3,528.3	4,958.7	4,370.8	40.5	-11.9
		2.	Processed Minerals	1,173.9	1,092.5	1,262.3	-6.9	15.5
II.	Manufactured Goods			76,255.6	91,624.9	100,909.1	20.2	10.1
	of which :			(67.2)	(63.8)	(65.9)
	A.	Leather & Manufactures		2,755.4	3,206.9	3,298.0	16.4	2.8
	B.	Chemicals & Related Products		15,571.1	18,513.1	20,532.6	18.9	10.9
		1.	Basic Chemicals, Pharmaceuticals & Cosmetics	9,792.0	12,158.9	14,063.6	24.2	15.7
		2.	Plastic & Linoleum	2,968.7	2,940.9	2,734.7	-0.9	-7.0
		3.	Rubber, Glass, Paints & Enamels etc.,	2,140.9	2,581.9	2,723.4	20.6	5.5
		4.	Residual Chemicals & Allied Products	669.5	831.4	1,011.0	24.2	21.6
	C.	Engineering Goods		26,486.2	32,948.7	40,701.7	24.4	23.5
		Of which :
		1.	Manufactures of metals	4,555.8	6,279.1	6,972.7	37.8	11.0
		2.	Machinery & Instruments	6,005.8	8,131.9	9,756.0	35.4	20.0
		3.	Transport equipments	4,377.9	6,162.3	10,142.0	40.8	64.6
		4.	Iron & steel	4,725.7	4,696.9	5,348.0	-0.6	13.9
		5.	Electronic goods	2,574.6	2,991.9	3,898.8	16.2	30.3
	D.	Textiles and Textile Products		15,755.4	17,443.1	17,689.5	10.7	1.4
		1.	Cotton Yarn, Fabrics, Made-ups, etc.,	3,830.4	4,093.0	3,872.3	6.9	-5.4
		2.	Natural Silk Yarn, Fabrics Madeups etc.
			(incl.silk waste)	408.8	341.0	337.0	-16.6	-1.2
		3.	Manmade Yarn, Fabrics, Made-ups, etc.,	1,993.5	2,627.0	2,774.7	31.8	5.6
		4.	Manmade Staple Fibre	173.4	245.1	232.4	41.3	-5.2
		5.	Woolen Yarn, Fabrics, Madeups etc.	77.4	83.1	92.6	7.5	11.4
		6.	Readymade Garments	8,046.9	8,717.6	9,242.1	8.3	6.0
		7.	Jute & Jute Manufactures	244.5	300.7	279.2	23.0	-7.1
		8.	Coir & Coir Manufactures	129.6	143.5	133.8	10.8	-6.8
		9.	Carpets	851.1	892.1	725.3	4.8	-18.7
			(a) Carpet Handmade	822.7	874.7	714.4	6.3	-18.3
			(b) Carpet Millmade	0.0	0.0	0.0	—	—
			(c) Silk Carpets	28.4	17.4	10.9	-38.6	-37.3
	E.	Gems & Jewellery		14,253.3	17,854.6	17,193.5	25.3	-3.7
	F.	Handicrafts		405.0	476.6	279.7	17.7	-41.3
III.	Petroleum Products			17,042.9	24,297.8	24,885.1	42.6	2.4
				(15.0)	(16.9)	(16.3)	12.6	-3.9
IV.	Others			2,733.8	3,577.6	4,013.2	30.9	12.2
				(2.4)	(2.5)	(2.6)
Total Exports				113,400.9	143,567.9	153,018.2	26.6	6.6
P : Provisional. Note : Figures in brackets relate to percentage to total exports for the period. Source : DGCI & S.

Statement 3: Direction of India’s Foreign Trade - Exports
(US$ million)
Group/Country					April-February			Percentage Variation
Group/Country					2006-07	2007-08	2008-09 P	(3)/(2)	(4)/(3)
1					2	3	4	5	6
I.	O E C D Countries				47,587.9	57,201.4	60,091.6	20.2	5.1
	A.	E U			24,007.3	30,611.9	34,111.5	27.5	11.4
		of which:
		1.	Belgium		3,111.5	3,726.7	3,982.9	19.8	6.9
		2.	France		1,867.4	2,304.5	2,639.8	23.4	14.6
		3.	Germany		3,504.7	4,568.2	5,284.2	30.3	15.7
		4.	Italy		3,238.1	3,523.6	3,407.0	8.8	-3.3
		5.	Netherland		2,362.5	4,537.3	5,728.4	92.1	26.3
		6.	U K		5,049.2	5,985.4	5,565.8	18.5	-7.0
	B.	North America			17,975.7	19,845.1	19,657.5	10.4	-0.9
		1.	Canada		1,005.6	1,138.2	1,246.2	13.2	9.5
		2.	U S A		16,970.1	18706.9	18,411.3	10.2	-1.6
	C.	Asia and Oceania			3,833.5	4,371.4	4,103.2	14.0	-6.1
		of which:
		1.	Australia		818.2	1,039.0	1,207.8	27.0	16.2
		2.	Japan		2,522.7	3,196.8	2,731.3	26.7	-14.6
	D.	Other O E C D Countries			1,771.3	2,373.1	2,219.4	34.0	-6.5
		of which:
		1.	Switzerland		415.1	529.3	600.1	27.5	13.4
II.	O P E C				18,840.1	23,869.1	29,632.5	26.7	24.1
	of which:
		1.	Indonesia		1,866.6	1,751.2	2,147.6	-6.2	22.6
		2.	Iran		1,333.5	1,848.2	2,347.1	38.6	27.0
		3.	Iraq		189.1	227.2	327.0	20.1	43.9
		4.	Kuwait		558.2	590.0	699.5	5.7	18.6
		5.	Saudi Arabia		2,232.3	3,078.4	4,536.6	37.9	47.4
		6.	U A E		10,856.4	14,033.3	16,557.9	29.3	18.0
III.	Eastern Europe				1,386.4	1,603.5	1,781.0	15.7	11.1
	of which:
	1.	Russia			806.3	812.6	928.9	0.8	14.3
IV.	Developing Countries				45,260.2	60,464.9	60,180.8	33.6	-0.5
	of which:
	A.	Asia			33,805.6	44,963.0	44,505.7	33.0	-1.0
		a)	S A A R C		5,837.5	8,113.7	7,693.8	39.0	-5.2
			1.	Afghanistan	162.5	219.9	349.3	35.3	58.8
			2.	Bangladesh	1,452.4	2,231.6	2,264.5	53.6	1.5
			3.	Bhutan	51.8	77.6	97.3	49.7	25.3
			4.	Maldives	61.6	81.1	123.4	31.8	52.1
			5.	Nepal	841.7	1,281.6	1,313.7	52.3	2.5
			6.	Pakistan	1,224.8	1,696.1	1,290.7	38.5	-23.9
			7.	Sri Lanka	2,042.6	2,525.8	2,254.9	23.7	-10.7
		b)	Other Asian Developing Countries		27,968.1	36,849.3	36,811.9	31.8	-0.1
			of	which:
			1.	People’s Rep of China	7,439.0	9,457.9	7,747.1	27.1	-18.1
			2.	Hong Kong	4,080.4	5,593.6	5,701.2	37.1	1.9
			3.	South Korea	2,290.4	2,591.2	2,848.9	13.1	9.9
			4.	Malaysia	1,183.8	2,112.0	3,208.8	78.4	51.9
			5.	Singapore	5,487.7	6,435.6	7,273.5	17.3	13.0
			6.	Thailand	1,305.8	1,614.3	1,629.7	23.6	1.0
	B.	Africa			7,642.1	10,957.7	10,344.9	43.4	-5.6
		of which:
		1.	Benin		138.3	227.2	192.1	64.3	-15.4
		2.	Egypt Arab Republic		677.2	1,208.2	1,443.7	78.4	19.5
		3.	Kenya		1,184.1	1,354.7	1,223.8	14.4	-9.7
		4.	South Africa		1,969.5	2,358.8	1,728.3	19.8	-26.7
		5.	Sudan		364.5	339.1	404.7	-7.0	19.3
		6.	Tanzania		258.4	516.2	994.3	99.7	92.6
		7.	Zambia		97.6	122.8	90.3	25.8	-26.5
	C.	Latin America			3,812.5	4,544.2	5,330.2	19.2	17.3
V.	Others				124.0	245.3	473.7	97.9	93.1
VI.	Unspecified				202.3	183.6	858.6	-9.3	367.7
Total Exports					113,400.9	143,567.9	153,018.2	26.6	6.6
P : Provisional. Source : DGCI & S.

Statement 4: India’s Imports of Principal Commodities
(US$ million)
Commodity/Group					April-February			Percentage Variation
Commodity/Group					2006-07	2007-08	2008-09 P	(3)/(2)	(4)/(3)
1					2	3	4	5	6
I.	Bulk Imports				76,058.6	101,077.6	126,715.0	32.9	25.4
					(46.8)	(46.7)	(48.1)
	A.	Petroleum, Petroleum Products			52,160.0	70,562.8	86,357.6	35.3	22.4
		& Related Material			(32.1)	(32.6)	(32.8)
	B.	Bulk Consumption Goods			3,029.6	4,333.0	4491.1	43.0	3.6
		1.	Wheat		324.8	660.2	0.0	103.3	-100.0
		2.	Cereals & Cereal Preparations		29.7	42.5	43.0	43.1	1.0
		3.	Edible Oil		1,925.0	2,390.7	3,173.8	24.2	32.8
		4.	Pulses		749.4	1,238.3	1,181.5	65.2	-4.6
		5.	Sugar		0.7	1.4	92.9	87.3	6773.1
	C.	Other Bulk Items			20,868.9	26,181.8	35,866.3	25.5	37.0
		1.	Fertilisers		3,013.8	5,095.8	13,296.4	69.1	160.9
			a)	Crude	328.1	439.3	1,003.3	33.9	128.4
			b)	Sulphur & Unroasted Iron Pyrites	100.0	309.2	650.8	209.1	110.5
			c)	Manufactured	2,585.7	4,347.3	11,642.3	68.1	167.8
		2.	Non-Ferrous Metals		2,387.6	3,142.9	2,954.0	31.6	-6.0
		3.	Paper, Paperboard & Mgfd. incl. Newsprint		1,102.8	1,285.1	1,684.6	16.5	31.1
		4.	Crude Rubber, incl. Synthetic & Reclaimed		559.7	709.6	834.7	26.8	17.6
		5.	Pulp & Waste Paper		569.3	711.5	758.2	25.0	6.6
		6.	Metalliferrous Ores & Metal Scrap		7,507.3	7,200.5	7,523.4	-4.1	4.5
		7.	Iron & Steel		5,728.5	8,036.5	8,815.0	40.3	9.7
II.	Non-Bulk Imports				86,443.8	115,159.7	136,560.7	33.2	18.6
					(53.2)	(53.3)	(51.9)
	A.	Capital Goods			37,819.4	52,685.0	58,037.3	39.3	10.2
		1.	Manufactures of Metals		1,425.0	2,411.4	2,956.7	69.2	22.6
		2.	Machine Tools		1,331.2	2,002.9	2,130.1	50.5	6.4
		3.	Machinery except Electrical & Electronics		12,390.5	17,835.0	19,097.4	43.9	7.1
		4.	Electrical Machinery except Electronics		1,759.0	2,613.8	2,946.3	48.6	12.7
		5.	Electronic Goods incl. Computer Software		15,265.4	19,117.5	20,624.8	25.2	7.9
		6.	Transport Equipments		3,993.2	7,589.0	7,451.3	90.0	-1.8
		7.	Project Goods		1,655.2	1,115.3	2,830.8	-32.6	153.8
	B.	Mainly Export Related Items			16,096.2	18,986.9	26,990.9	18.0	42.2
		1.	Pearls, Precious & Semi-Precious Stones		6,627.2	7,249.6	12,794.5	9.4	76.5
		2.	Chemicals, Organic & Inorganic		7,108.0	9,059.8	11,359.5	27.5	25.4
		3.	Textile Yarn, Fabric, etc.		1,979.0	2,283.9	2,269.2	15.4	-0.6
		4.	Cashew Nuts, raw		382.1	393.7	567.6	3.0	44.2
	C.	Others			32,528.2	43,487.8	51,532.5	33.7	18.5
		of which :
		1.	Gold & Silver		13,109.2	16,378.2	18028.3	24.9	10.1
		2.	Artificial Resins & Plastic Materials		2,321.5	3,361.0	3,457.2	44.8	2.9
		3.	Professional Instruments etc. except electrical		2,090.3	3,485.7	3,702.3	66.8	6.2
		4.	Coal, Coke & Briquittes etc.		4,062.5	5,850.5	9,379.2	44.0	60.3
		5.	Medicinal & Pharmaceutical Products		1,165.0	1,536.1	1,667.0	31.8	8.5
		6.	Chemical Materials & Products		1,208.6	1,446.5	1,804.9	19.7	24.8
		7.	Non-Metallic Mineral Manufactures		713.1	951.2	1,080.3	33.4	13.6
Total Imports					162,502.4	216,237.4	263,275.7	33.1	21.8
Memo items :
Non-Oil Imports					110342.4	145674.6	176,918.1	32.0	21.4
Non-Oil Imports excl. Gold & Silver					97233.2	129296.4	158,889.8	33.0	22.9
Mainly Industrial Inputs*					89527.6	117130.2	139,054.0	30.8	18.7
P : Provisional. * : 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 5: Direction of India’s Foreign Trade-Imports
(US$ million)
Group / Country					April-February			Percentage Variation
Group / Country					2006-07	2007-08	2008-09 P	(3)/(2)	(4)/(3)
1					2	3	4	5	6
I.	O E C D Countries				54,160.1	70,626.4	82,394.0	30.4	16.7
	A.	E U			24,254.0	31,629.5	35,501.4	30.4	12.2
		Of which:
		1.	Belgium		3,681.2	4,211.3	5,146.0	14.4	22.2
		2.	France		1,927.9	2,586.7	2,793.6	34.2	8.0
		3.	Germany		6,736.8	8,603.1	9,567.7	27.7	11.2
		4.	Italy		2,365.2	3,443.7	3,895.5	45.6	13.1
		5.	Netherland		1,010.1	1,808.4	1,543.3	79.0	-14.7
		6.	U K		3,685.6	4,608.9	5,450.6	25.1	18.3
	B.	North America			10,457.0	13,982.3	17,756.9	33.7	27.0
		1.	Canada		1,219.8	1,804.8	2,037.7	48.0	12.9
		2.	U S		9,237.2	12,177.5	15,719.2	31.8	29.1
	C.	Asia and Oceania			10,545.4	13,122.8	15,489.4	24.4	18.0
		of which:
		1.	Australia		6,259.0	7,140.2	8,196.4	14.1	14.8
		2.	Japan		4,041.0	5,678.5	6,894.5	40.5	21.4
	D.	Other O E C D Countries			8,903.7	11,891.9	13,646.3	33.6	14.8
		of which:
		1.	Switzerland		7,992.6	8,890.1	11,180.1	11.2	25.8
II.	O P E C				51,067.9	68,808.8	87,516.0	34.7	27.2
	of which:
	1.	Indonesia			3,659.0	4,366.2	6,052.3	19.3	38.6
	2.	Iran			6,736.1	9,950.4	11,280.8	47.7	13.4
	3.	Iraq			5,085.0	5,630.5	7,396.8	10.7	31.4
	4.	Kuwait			5,396.7	6,580.6	8,847.5	21.9	34.4
	5.	Saudi Arabia			12,376.5	17,398.0	18,663.8	40.6	7.3
	6.	U A E			7,606.3	12,209.6	16,982.7	60.5	39.1
III.	Eastern Europe				3,265.7	3,571.2	6,348.8	9.4	77.8
	of which:
	1.	Russia			1,871.3	2,288.2	4,143.8	22.3	81.1
IV.	Developing Countries				53,306.9	72,363.5	85,952.1	35.7	18.8
	of which:
	A.	Asia			42,669.2	58,584.7	69,399.9	37.3	18.5
		a) S A A R C			1,383.6	1,939.0	1,650.6	40.1	-14.9
			1.	Afghanistan	32.9	95.9	119.2	191.4	24.3
			2.	Bangladesh	209.7	239.4	294.7	14.1	23.1
			3.	Bhutan	125.4	181.1	138.8	44.4	-23.4
			4.	Maldives	2.8	3.7	3.7	32.2	-1.1
			5.	Nepal	283.5	585.5	452.2	106.6	-22.8
			6.	Pakistan	306.8	248.1	339.5	-19.1	36.8
			7	Sri Lanka	422.5	585.3	302.5	38.6	-48.3
	b)	Other Asian Developing Countries			41,285.6	56,645.6	67,749.3	37.2	19.6
		of which:
		1.	People’s Rep of China		15,698.0	24,817.8	28,107.8	58.1	13.3
		2.	Hong Kong		2,177.9	2,513.9	5,312.0	15.4	111.3
		3.	South Korea		4,296.7	5,390.1	7,483.9	25.4	38.8
		4.	Malaysia		4,792.5	5,574.3	6,653.8	16.3	19.4
		5.	Singapore		4,944.5	7,095.6	6,628.9	43.5	-6.6
		6.	Thailand		1,544.9	2,104.7	2,415.1	36.2	14.7
	B.		Africa		5,973.7	8,558.9	11,564.0	43.3	35.1
			of which:
		1.	Benin		78.0	70.0	106.8	-10.3	52.6
		2.	Egypt Arab Republic		1,573.0	1,798.4	1,768.0	14.3	-1.7
		3.	Kenya		50.3	76.7	76.3	52.4	-0.5
		4.	South Africa		2,321.5	3,239.3	5,015.3	39.5	54.8
		5.	Sudan		87.0	428.6	403.0	392.5	-6.0
		6.	Tanzania		88.9	147.6	183.3	66.1	24.2
		7.	Zambia		78.6	73.8	190.3	-6.2	158.0
	C.	Latin America			4,664.0	5,219.9	4,988.2	11.9	-4.4
V.	Others				61.7	225.7	59.4	265.9	-73.7
VI.	Unspecified				640.1	641.7	1,005.4	0.3	56.7
P : Provisional. Note : The figures for 2006-07, which include country-wise distribution of petroleum imports, are not strictly comparable with the data for previous years. 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, June 2009.