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

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Published on January 11, 2010

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

This article reviews India’s merchandise trade performance during April-October 2009 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-May 2009 are also analysed.

Highlights

India’s merchandise exports during October 2009 at US$ 13.2 billion recorded a decline of 6.6 per cent, as compared with a decline of 3.7 per cent registered in October 2008. The rate of decline in exports witnessed in October 2009 was the lowest since November 2008, thereby exhibiting signs of continuity in revival of exports. This was partly due to the base effect.
During April-October 2009 exports stood at US$ 91.0 billion, posting a decline of 26.0 per cent as against a growth of 39.4 per cent during the corresponding period of 2008.
Imports during October 2009 at US$ 22.0 billion showed a decline of 15.0 per cent as against a growth of 18.5 per cent recorded in October 2008, due to decline in both oil and non-oil imports. This is the eleventh successive month that imports have shown decline since December 2008. The decline in imports during October 2009 was lower than that in September 2009 (decline of 31.3 per cent).
During April-October 2009, imports at US$ 148.2 billion recorded a decline of 29.7 per cent as against a high growth of 49.5 per cent a year ago.
Petroleum, oil and lubricants (POL) imports at US$ 42.8 billion during April-October 2009 showed a substantial decline of 39.4 per cent, as against a high growth of 71.6 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 April-October 2009 stood at US$ 64.7 per barrel (ranged between US$ 50.1 – 73.1 per barrel), which was lower by 41.0 per cent than US$ 109.7 per barrel (ranged between US$ 69.1 – 132.5 per barrel) during April-October 2008.
Non-POL imports during April-October 2009 at US$ 105.5 billion showed a decline of 24.8 per cent as against a growth of 40.3 per cent a year ago, reflecting slowdown in domestic economic activity.
Trade deficit during April-October 2009 amounted to US$ 57.2 billion, a decline of US$ 30.6 billion (34.8 per cent) over US$ 87.8 billion in April-October 2008, mainly due to larger decline in oil imports.

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

Exports

India’s merchandise exports during October 2009 at US$ 13.2 billion recorded a decline of 6.6 per cent, as compared with a decline of 3.7 per cent registered in October 2008 (Statement 1). The rate of decline in exports witnessed in October 2009 was the lowest since November 2008. This was partly due to base effect. The decline in exports which began since October 2008 reached the maximum level at 38.9 per cent in May 2009. Thereafter, the rate of decline in exports showed continued reduction. The export performance improved considerably since August 2009, as the monthly rates of decline in exports during August-October 2009 were much smaller than those in all the previous months in 2009-10, i.e., April-July 2009 (Chart 1). This trend exhibited consistent sign of revival in exports. The decline in exports was 36.4 per cent in April 2009, 38.9 per cent in May 2009, 32.4 per cent in June 2009, 30.3 per cent in July 2009, 19.5 per cent in August 2009, 13.8 per cent in September 2009 and 6.6 per cent in October 2009. Cumulatively, exports during April-October 2009 stood at US$ 91.0 billion, posting a decline of 26.0 per cent as against a growth of 39.4 per cent during the corresponding period of 2008-09. (Table 1 and Statement 2).

The latest commodity-wise exports data released by DGCI&S for April-May 2009 revealed that manufactured goods maintained the largest share in total exports at 68.5 per cent, followed by primary products (14.4 per cent) and petroleum products (12.9 per cent). Moreover, the share of manufactured goods has increased along with decrease in shares of petroleum products and primary products (Table 2).

During April-May 2009, exports of all major commodity groups declined (Statement 3). Exports of primary products during April-May 2009 showed a sharp decline of 41.2 per cent as against a high growth of 75.2 per cent a year ago, due to decline in its major components. Within primary products, agricultural and allied products exports at US$ 2.4 billion showed a decline of 40.1 per cent (growth of 97.2 per cent during the corresponding period of previous year). This was due to decline in most of its components. Ores and minerals exports declined by 43.8 per cent as against a growth of 39.3 per cent a year ago, mainly due to decline in iron ore and processed minerals.

Table 1: India's Merchandise Trade: April-October
(US $ billion)
Items	2008-09 R	2009-10 P
Items	April-October
1	2	3
Exports	123.0	91.0
	(39.4)	(-26.0)
Oil Exports	20.5	..
	(35.6)
Non-Oil Exports	102.5	..
	(40.2)
Imports	210.9	148.2
	(49.5)	(-29.7)
Oil Imports	70.6	42.8
	(71.6)	(-39.4)
Non-Oil Imports	140.3	105.5
	(40.3)	(-24.8)
Trade Balance	-87.8	-57.2
Oil Trade Balance	-50.1	..
Non-Oil Trade Balance	-37.8	. .
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
		April-March		April-May
1		2	3	4	5
I.	Primary Products	16.9	13.7	15.3	14.4
	Agriculture and Allied Products	11.3	9.5	10.7	10.3
	Ores and Minerals	5.6	4.2	4.6	4.2
II.	Manufactured Goods	63.2	66.3	63.7	68.5
	Leather and Manufactures	2.2	1.9	1.6	1.8
	Chemicals and Related Products	13.0	12.3	10.8	12.9
	Engineering Goods	22.9	25.5	24.3	26.8
	Textiles and Textile Products	11.9	10.8	10.0	11.8
	Gems and Jewellery	12.1	15.1	16.3	14.3
III.	Petroleum Products	17.4	14.5	15.0	12.9
IV.	Others	2.5	5.5	6.0	4.2
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Exports of manufactured goods during April-May 2009 at US$ 15.9 billion exhibited decline of 32.9 per cent in contrast with a high growth of 60.4 per cent a year ago, due to decline in its major components. Within manufactured goods, exports of engineering goods, which is the largest item in India’s exports, at US$ 6.2 billion declined by 31.3 per cent against a high growth of 69.2 per cent a year ago. This was due to decline in all its major constituents such as transport equipments, machinery and instruments and iron and steel.

Gems and jewellery exports during April-May 2009 at US$ 3.3 billion recorded a sharp decline of 45.2 per cent as against a strong growth of 107.8 per cent during the corresponding period of last year. Chemicals and related products exports during April-May 2009 at US$ 3.0 billion showed a decline of 25.6 per cent (a growth of 36.0 per cent during April-May 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-May 2009 at US$ 2.7 billion exhibited a decline of 26.2 per cent as against a growth of 31.3 per cent a year ago. This was because of decrease in all its major components such as readymade garments, manmade yarn, fabrics and made-ups and cotton yarn, fabrics, made-ups.

Exports of petroleum products at US$ 3.0 billion during April-May 2009 registered a decline of 46.5 per cent as against a growth of 29.0 per cent a year ago. This occurred in the aftermath of sharp decline in world oil prices during April-May 2009 over April-May 2008 (Chart 3). However, the volume of these exports increased by 2.7 per cent during the period as against a decline of 14.2 per cent during April-May 2008.

Destination-wise, during April-May 2009, among the regions, OECD countries and developing countries were the major markets for India’s exports with these groups accounting for 37.3 per cent and 37.2 per cent shares, respectively (Table 3). Another major contributor was OPEC with 22.0 per cent share. During April-May 2009 the shares of OECD and OPEC increased while that of developing countries declined marginally. Country-wise, the US was the largest destination for India in April-May 2009, with a share of 11.1 per cent in India’s total exports. It was followed by the UAE (10.9 per cent), China (5.9 per cent), Singapore (5.6 per cent), Netherland (4.0 per cent), Hong Kong (3.6 per cent), Indonesia (3.4 per cent), and Germany (3.3 per cent). Direction of India’s exports during April-May 2009 indicated that the exports to all major export destinations, such as the EU, OPEC and developing countries declined (Statement 4).

Imports

Imports during October 2009 at US$ 22.0 billion showed a decline of 15.0 per cent as against a growth of 18.5 per cent recorded in October 2008. This was due to decline in both POL and non-POL imports. However, decline in non-POL imports was sharper than that in POL imports. The rate of decline in imports witnessed in October 2009 was the lowest since January 2009 (Statement 1). The fall in imports started since December 2008. The rate of fall in imports progressively deteriorated thereafter, and reached its maximum in April 2009 (38.2 per cent decline). It improved considerably in May and June 2009 to 32.2 per cent and 23.4 per cent, respectively, but again deteriorated in July 2009 by 37.2 per cent. The rates of decline in imports were progressively lower since August 2009 (declines of 32.4 per cent in August 2009, 31.3 per cent in September 2009 and 15.0 per cent in October 2009) [Chart 1]. During April-October 2009 imports at US$ 148.2 billion registered a decline of 29.7 per cent (49.5 per cent growth a year ago) [Table 1 and Statement 2]. ‘

Table 3: India's Exports to Principal Regions
(Percentage Shares)
Region/Country		2007-08	2008-09	2008-09	2009-10
		April-March		April-May
1		2	3	4	5
I.	OECD Countries	39.5	36.9	35.8	37.3
	EU	21.2	21.0	21.4	21.2
	North America	13.5	12.1	10.5	11.8
	US	12.7	11.3	9.8	11.1
	Asia and Oceania	3.2	2.5	2.3	2.9
	Other OECD Countries	1.6	1.4	1.7	1.5
II.	OPEC	16.6	21.0	21.1	22.0
III.	Eastern Europe	1.1	1.1	1.1	1.0
IV.	Developing Countries	42.5	37.0	37.8	37.2
	Asia	31.6	27.7	28.3	28.8
	SAARC	5.9	4.6	4.7	4.6
	Other Asian Developing Countries	25.7	23.1	23.5	24.2
	Africa	7.5	6.2	6.7	5.8
	Latin America	3.4	3.1	2.8	2.5
V.	Others / Unspecified	0.4	4.0	4.2	2.5
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

POL imports at US$ 42.8 billion during April-October 2009 showed a substantial decline of 39.4 per cent, as against a high growth of 71.6 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 April-October 2009 stood at US$ 64.7 per barrel (ranged between US$ 50.1 – 73.1 per barrel), which was lower by 41.0 per cent than US$ 109.7 per barrel (ranged between US$ 69.1 – 132.5 per barrel) during April-October 2008 (Table 4). Non-POL imports at US$ 105.5 billion recorded a decrease of 24.8 per cent during April-October 2009 as against a growth of 40.3 per cent in April-October 2008 reflecting slowdown in domestic economic activity.

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
October 2008	68.6	72.8	76.6	69.1
October 2009	73.3	73.2	75.8	73.1
* 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 November 2009; Ministry of Petroleum and Natural Gas, Government of India.

The commodity-wise imports data for April-May 2009 indicated that POL imports at US$ 10.0 billion showed a decline of 48.5 per cent as against a high growth of 75.3 per cent a year ago, mainly due to sharp reduction in international crude oil prices over the year (Statement 5). The volume of POL imports showed a growth of 2.6 per cent which was lower than the growth of 10.5 per cent a year ago.

Non-POL imports during April-May 2009 at US$ 28.6 billion witnessed a decline of 28.9 per cent from a high growth of 41.8 per cent during the corresponding period of 2008. Slowdown in non-POL imports was mainly due to sharp decline in imports of capital goods (decline of 27.9 per cent as against a growth of 59.4 per cent in April-May 2008), gold and silver (fall of 42.4 per cent in comparison with a growth of 5.8 per cent during April-May 2008), pearls, precious and semi-precious stones, chemicals, coal, coke and briquettes, fertilisers and iron and steel. However, imports of edible oil showed a substantial growth. During April-May 2009 the shares of capital goods, coal, coke and briquettes and fertilisers in total imports went up, while those of petroleum, crude and products, gold and silver, pearls, precious and semi-precious stones and metalliferrous ores and metal scrap 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-May
1		2	3	4	5
1.	Petroleum, Crude and Products	31.7	30.1	32.6	25.9
2.	Capital Goods	27.9	23.6	22.2	24.7
3.	Gold and Silver	7.1	7.2	8.4	7.5
4.	Organic and Inorganic Chemicals	3.9	4.0	4.0	4.6
5.	Coal, Coke and Briquettes, etc.	2.6	3.3	3.2	4.0
6.	Fertilisers	2.2	4.5	2.3	2.6
7.	Metalliferrous Ores, Metal Scrap, etc.	3.1	2.6	3.2	2.4
8.	Iron and Steel	3.5	3.1	2.7	2.8
9.	Pearls, Precious and Semi- Precious Stones	3.2	5.5	6.2	5.2
10.	Others	14.8	16.1	15.2	20.3
	Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Source-wise, during April-May 2009, developing countries had the highest share in India’s imports (35.0 per cent), followed by OECD (33.3 per cent) and OPEC (28.0 per cent) [Table 6]. The shares of developing countries and OECD countries have 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 11.8 per cent in total imports, followed by the US (5.8 per cent), the UAE (5.7 per cent), Switzerland (4.9 per cent), Saudi Arabia (4.9 per cent), Australia (3.8 per cent), Germany (3.6 per cent) and Singapore (3.4 per cent). Direction of India’s imports during April-May 2009 indicated that imports from most of the main regions declined (Statement 6).

Trade Deficit

The trade deficit during April-October 2009 amounted to US$ 57.2 billion, which was lower by US$ 30.6 billion (34.8 per cent) than US$ 87.8 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-May 2009 stood at US$ 7.1 billion, which was lower by US$ 6.8 billion than US$ 13.9 billion a year ago. Trade deficit on non-oil account during this period stood at US$ 8.5 billion, which was lower by US$ 0.2 billion than US$ 8.7 billion in April-May 2008.

Table 6: Shares of Groups/Countries in India's Imports
(Percentage Shares)
Region/Country		2007-08	2008-09	2008-09	2009-10
		April-March		April-May
1		2	3	4	5
I.	OECD Countries	35.4	31.7	31.4	33.3
	EU	15.3	13.9	13.6	13.5
	France	2.5	1.5	1.2	1.2
	Germany	3.9	3.9	3.5	3.6
	UK	2.0	1.9	1.7	1.8
	North America	9.1	6.9	5.6	6.7
	US	8.4	6.1	4.8	5.8
	Asia and Oceania	5.8	6.3	6.0	6.6
	Other OECD Countries	5.2	4.6	6.2	6.5
II.	OPEC	30.7	32.1	34.8	28.0
III.	Eastern Europe	1.5	2.2	1.3	2.6
I V.	Developing Countries	31.5	31.9	32.1	35.0
	Asia	25.5	25.9	26.3	28.5
	SAARC	0.8	0.6	0.5	0.6
	Other Asian Developing Countries	24.7	25.3	25.8	28.0
	of which :
	People’s Rep of China	10.8	10.6	10.9	11.8
	Africa	3.7	4.1	4.2	4.9
	Latin America	2.3	1.9	1.6	1.5
V.	Others / Unspecified	0.9	2.1	0.4	1.2
	Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Global Trade

World merchandise exports which started declining since November 2008 as an outcome of global economic crisis, subsequently witnessed much larger rates of decline. However, according to the latest monthly data from International Monetary Fund’s (IMF) International Financial Statistics (IFS), in August 2009 the decline in world exports was 25.0 per cent which was lower than that in July 2009, and as such lowest since January 2009 so far. The trend showed that world exports and exports of advanced economies and emerging and developing economies moved in tandem with each other in 2008 and their rates of decline have exhibited convergence during 2009 so far (Chart 2). Cumulatively, world merchandise exports during January-August 2009, in dollar terms, showed a decline of 28.7 per cent as against a growth of 25.2 per cent a year ago (Table 7). During the same period, exports of advanced economies declined by 30.0 per cent in contrast with a growth of 20.8 per cent a year back, and the exports of emerging and developing economies declined by 27.0 per cent as against a growth of 33.5 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-August
1	2	3		4		5
World	14.1		15.8		25.2		-28.7
Advanced Economies	13.5		11.0		20.8		-30.0
US	12.0	11.9		18.8		-24.1
France	12.3	10.1		20.5		-30.1
Germany	18.0	10.8		21.5		-31.7
Japan	7.8	12.3		20.5		-353
Emerging and Developing Economies	15.3		24.6		33.5		-27.0
Singapore	10.1	13.0		23.6		-29.7
China	25.6	17.3		22.4		-22.1
India	23.3	29.7		38.9	*	-24.7	*
Indonesia	14.7	24.4		28.2		-24.2
Korea	14.1	13.6		22.0		-22.4
Malaysia	9.6	19.1		24.2		-30.1
Thailand	17.1	12.9		25.6		-22.8
* : January-October 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 rate of decline in prices progressively moderated since August 2009 and during October 2009 the decline (at 4.7 per cent) was in fact the smallest since October 2008 so far (Chart 3). The energy prices declined by 8.3 per cent in October 2009, whereas the prices of metals and food showed an increase of 5.2 per cent and 2.0 per cent, respectively.

Statement 1 : India's Foreign Trade - October 2009
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
Rupees crore
2007-08	57,982	9,582	48,400	86,264	25,780	60,484	-28,282	-16,198	-12,084
	(28.4)	(39.6)	(26.4)	(8.3)	(2.0)	(11.3)
2008-09 R	68,754	10,199	58,555	125,868	35,354	90,514	-57,114	-25,155	-31,959
	(18.6)	(6.4)	(21.0)	(45.9)	(37.1)	(49.7)
2009-10 P	61,639	..	..	102,759	30,871	71,888	-41,120
	(-10.3)			(-18.4)	(-12.7)	(-20.6)
US dollar million
2007-08	14,675	2,425	12,250	21,833	6,525	15,308	-7,158	-4,100	-3,058
	(47.8)	(60.6)	(45.5)	(24.7)	(17.4)	(28.1)
2008-09 R	14,131	2,096	12,035	25,869	7,285	18,584	-11,738	-5,189	-6,550
	(-3.7)	(-13.6)	(-1.8)	(18.5)	(11.7)	(21.4)	(64.0)
2009-10 P	13,193	..	..	21,994	6,608	15,387	-8,801
	(-6.6)			(-15.0)	(-9.3)	(-17.2)	(-25.0)
P : Provisional. R- Revised. .. Not available. Note : Figures in brackets relate to percentage variation over the corresponding previous period. Source : 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
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)	(28.7)
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)	(49.2)
2008-09 P	185,295	26,830	158,466	303,696	91,306	212,390	-118,401	-64476	-53925
	(13.7)	(-5.4)	(17.8)	(20.8)	(14.6)	(23.6)	(33.7)
April-October
Rupees crore
2007-08	358,542	61,500	297,042	573,569	167,418	406,151	-215,028	-105,918	-109,109
	(9.7)	(17.0)	(8.3)	(16.2)	(3.9)	(22.2)
2008-09 R	533,205	89,341	443,864	916,483	305,658	610,825	-383,278	-216,317	-166,961
	(48.7)	(45.3)	(49.4)	(59.8)	(82.6)	(50.4)
2009-10 P	439,835	..	..	716,535	206,841	509,694	-276,700	..	..
	(-17.5)			(-21.8)	(-32.3)	(-16.6)
US dollar million
2007-08	88,234	15,125	73,108	141,081	41,115	99,966	-52,847	-25,990	-26,857
	(23.9)	(32.2)	(22.3)	(31.1)	(19.7)	(36.5)
2008-09 R	123,038	20,507	102,531	210,865	70,570	140,295	-87,827	-50,063	-37,764
	(39.4)	(35.6)	(40.2)	(49.5)	(71.6)	(40.3)	(66.2)
2009-10 P	90,999	..	..	148,246	42,794	105,452	-57,247	..	..
	(-26.0)			(-29.7)	(-39.4)	(-24.8)	(-34.8)
P : Provisional. R : Revised. .. : Not available. Note : Figures in brackets relate to percentage variation over the corresponding period of the previous year. Source : DGCI&S.

Statement 3 : India’s Exports of Principal Commodities
(US$ million)
Commodity/Group				April-May			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			3,242.2	5,681.6	3,340.1	75.2	-41.2
				(13.6)	(15.3)	(14.4)
	A.	Agricultural & Allied Products		2,010.9	3,965.9	2,375.8	97.2	-40.1
		of which :		(8.5)	(10.7)	(10.3)
		1.	Tea	42.7	64.4	50.9	50.9	-20.9
		2.	Coffee	78.4	104.5	71.7	33.4	-31.4
		3.	Rice	393.4	532.4	515.7	35.3	-3.1
		4.	Wheat	0.0	0.0	0.2	—	—
		5.	Cotton Raw incl. Waste	100.5	291.7	98.4	190.3	-66.3
		6.	Tobacco	74.0	113.2	128.8	52.9	13.8
		7.	Cashew incl. CNSL	83.8	121.4	86.4	44.8	-28.8
		8.	Spices	144.2	288.3	172.7	100.0	-40.1
		9.	Oil Meal	156.7	486.8	199.5	210.6	-59.0
		10	.Marine Products	180.8	217.6	178.5	20.4	-18.0
		11	.Sugar & Molasses	212.8	403.2	5.6	89.5	-98.6
	B.	Ores & Minerals		1,231.3	1,715.7	964.3	39.3	-43.8
		of which :		(5.2)	(4.6)	(4.2)
		1.	Iron Ore	748.6	1,098.0	604.2	46.7	-45.0
		2.	Processed Minerals	208.7	245.1	172.7	17.4	-29.5
II.	Manufactured Goods			14,765.3	23,677.7	15,881.9	60.4	-32.9
	of which :			(62.1)	(63.7)	(68.5)
	A.	Leather & Manufactures		489.0	583.2	406.4	19.3	-30.3
	B.	Chemicals & Related Products		2,955.4	4,018.5	2,988.6	36.0	-25.6
		1.	Basic Chemicals, Pharmaceuticals & Cosmetics	1,9553	2,709.3	2,136.3	38.6	-21.1
		2.	Plastic & Linoleum	496.4	591.3	381.3	19.1	-35.5
		3.	Rubber, Glass, Paints & Enamels, etc.	392.0	513.7	351.5	31.1	-31.6
		4.	Residual Chemicals & Allied Products	111.8	204.1	119.4	82.6	-41.5
	C.	Engineering Goods		5,338.1	9,029.5	6,205.4	69.2	-31.3
		of	which :
		1.	Manufactures of Metals	827.5	1,189.6	961.0	43.8	-19.2
		2.	Machinery & Instruments	1,266.6	1,921.7	1,342.7	51.7	-30.1
		3.	Transport Equipments	1,175.6	2,619.2	2,254.9	122.8	-13.9
		4.	Iron & Steel	891.2	1,037.8	355.8	16.5	-65.7
		5.	Electronic Goods	470.3	1,054.9	839.8	124.3	-20.4
	D.	Textiles and Textile Products		2,820.7	3,702.4	2,733.2	31.3	-26.2
		1.	Cotton Yarn, Fabrics, Made-ups, etc.	655.7	811.8	399.5	23.8	-50.8
		2.	Natural Silk Yarn, Fabrics Madeups, etc.
			(incl. silk waste)	65.9	67.3	43.3	2.2	-35.7
		3.	Manmade Yarn, Fabrics, Made-ups, etc.	370.3	584.6	468.6	57.9	-19.8
		4.	Manmade Staple Fibre	40.0	58.1	37.1	45.2	-36.1
		5.	Woolen Yarn, Fabrics, Madeups, etc.	14.3	18.6	13.2	30.1	-29.3
		6.	Readymade Garments	1,484.3	1,901.0	1,618.2	28.1	-14.9
		7.	Jute & Jute Manufactures	41.0	57.6	37.9	40.5	-34.2
		8.	Coir & Coir Manufactures	21.8	25.1	21.7	15.0	-13.3
		9.	Carpets	127.5	178.3	93.6	39.8	-47.5
			(a) Carpet Handmade	124.5	176.8	92.1	42.1	-47.9
			(b) Carpet Millmade	0.0	0.0	0.0	-	-
			(c) Silk Carpets	3.1	1.5	1.5	-50.4	-1.7
	E.	Gems & Jewellery		2,907.6	6,041.5	3,309.2	107.8	-45.2
	F.	Handicrafts		73.4	52.3	30.5	-28.7	-41.6
III.	Petroleum Products			4,316.6	5,569.0	2,978.0	29.0	-46.5
				(18.2)	(15.0)	(12.9)	-17.4	-14.3
IV.	Others			1,458.4	2,218.6	973.2	52.1	-56.1
				(6.1)	(6.0)	(4.2)
Total Exports				23,782.5	37,146.9	23,173.2	56.2	-37.6
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-May			Percentage	Variation
					2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1					2	3	4	5	6
I.	O E C D Countries				9,062.1	13,302.8	8,648.5	46.8	-35.0
	A.	E U			4,763.4	7,949.2	4,901.7	66.9	-38.3
		of which:
		1.	Belgium		659.2	815.6	485.5	23.7	-40.5
		2.	France		371.5	685.9	473.1	84.6	-31.0
		3.	Germany		690.8	1,230.5	753.8	78.1	-38.7
		4.	Italy		603.3	796.1	461.8	31.9	-42.0
		5.	Netherland		565.2	1,253.0	937.7	121.7	-25.2
		6.	U K		953.0	1,463.0	890.7	53.5	-39.1
	B.	North America			3,225.0	3,888.7	2,730.9	20.6	-29.8
		1.	Canada		180.5	233.0	165.8	29.0	-28.8
		2.	U S A		3,044.5	3,655.8	2,565.1	20.1	-29.8
	C.	Asia and Oceania			696.7	844.3	674.9	21.2	-20.1
		of which:
		1.	Australia		129.4	234.0	155.6	80.8	-33.5
		2.	Japan		548.0	582.2	495.8	6.3	-14.8
	D.	Other O E C D Countries			376.9	620.5	340.9	64.6	-45.1
		of which:
		1.	Switzerland		105.4	117.0	69.4	10.9	-40.6
II.	O P E C				4,028.3	7,855.9	5,091.5	95.0	-35.2
	of which:
	1.	Indonesia			311.3	487.8	783.0	56.7	60.5
	2.	Iran			398.7	303.7	419.4	-23.8	38.1
	3.	Iraq			31.0	82.6	51.0	166.6	-38.3
	4.	Kuwait			106.8	162.7	124.6	52.3	-23.4
	5.	Saudi Arabia			417.4	1,009.3	635.3	141.8	-37.1
	6.	U A E			2,392.2	5,258.0	2,523.0	119.8	-52.0
III.	Eastern Europe				255.0	417.0	229.5	63.5	-45.0
	of which:
	1.	Russia			128.7	252.2	126.4	95.9	-49.9
IV.	Developing Countries				9,708.1	14,046.6	8,610.7	44.7	-38.7
	of which:
	A.	Asia			6,992.9	10,494.4	6,676.3	50.1	-36.4
		a)	S A A R C		1,260.0	1,753.8	1,077.5	39.2	-38.6
			1.	Afghanistan	30.3	59.7	65.5	96.8	9.7
			2.	Bangladesh	347.0	501.0	288.1	44.4	-42.5
			3.	Bhutan	12.3	19.9	13.0	61.5	-34.5
			4.	Maldives	12.2	18.8	12.4	54.4	-33.9
			5.	Nepal	211.0	298.6	237.3	41.5	-20.5
			6.	Pakistan	239.5	351.2	270.1	46.6	-23.1
			7	Sri Lanka	407.7	504.7	191.0	23.8	-62.2
		b)	Other Asian Developing Countries		5,732.9	8,740.6	5,598.8	52.5	-35.9
			of which:
			1.	People’s Rep of China	1,305.4	2,056.8	1,372.7	57.6	-33.3
			2.	Hong Kong	833.9	1,158.5	835.9	38.9	-27.8
			3.	South Korea	375.1	570.0	296.7	52.0	-47.9
			4.	Malaysia	226.6	554.9	528.0	144.9	-4.8
			5.	Singapore	1,180.0	2,147.0	1,291.2	81.9	-39.9
			6.	Thailand	183.7	398.0	172.7	116.6	-56.6
	B.	Africa			2,171.0	2,505.5	1,343.6	15.4	-46.4
		of which:
		1.	Benin		37.8	33.5	23.5	-11.5	-29.9
		2.	Egypt Arab Republic		203.0	559.9	186.4	175.8	-66.7
		3.	Kenya		195.9	234.5	265.7	19.7	13.3
		4.	South Africa		418.1	387.7	188.0	-7.3	-51.5
		5.	Sudan		57.4	95.6	66.2	66.6	-30.8
		6.	Tanzania		76.1	190.0	133.3	149.5	-29.8
		7.	Zambia		24.4	18.4	13.2	-24.3	-28.3
	C.	Latin American Countries			544.2	1,046.7	590.9	92.4	-43.6
V.	Others				653.1	107.2	76.7	-83.6	-28.5
VI.	Unspecified				76.0	1,417.5	516.4	—	-63.6
Total Exports					23,782.5	37,146.9	23,173.2	56.2	-37.6
P : Provisional. R : Revised. Source : DGCI & S.

Statement 5 : India's Imports of Principal Commodities
(US$ million)
Commodity/Group				April-May			Percentage	Variation
				2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1				2	3	4	5	6
I.	Bulk Imports			16,277.1	27,871.9	14,919.2	71.2	-46.5
				(41.2)	(46.6)	(38.6)
	A.	Petroleum, Petroleum Products & Related Material		11,106.00	19,465.78	10,030.87	75.3	-48.5
	A.			(28.1)	(32.6)	(25.9)
	B.	Bulk Consumption Goods		547.5	551.9	1,026.9	0.8	86.0
		1.	Wheat	6.9	0.0	0.0	—	—
		2.	Cereals & Cereal Preparations	5.5	6.4	6.2	17.3	-3.3
		3.	Edible Oil	338.0	340.0	751.4	0.6	121.0
		4.	Pulses	197.0	205.3	235.0	4.2	14.5
		5.	Sugar	0.2	0.2	34.2	—	—
	C.	Other Bulk Items		4,623.6	7,854.2	3,861.5	69.9	-50.8
		1.	Fertilisers	379.3	1,346.9	1,014.5	255.1	-24.7
			a) Crude	82.5	124.0	116.8	50.2	-5.8
			b) Sulphur & Unroasted Iron Pyrites	23.2	84.5	19.2	264.3	-77.2
			c) Manufactured	273.5	1,138.4	878.4	316.2	-22.8
		2.	Non-Ferrous Metals	478.7	2,326.7	410.7	386.0	-82.3
		3.	Paper, Paperboard & Mgfd. incl. Newsprint	224.6	305.9	193.5	36.2	-36.7
		4.	Crude Rubber, incl. Synthetic & Reclaimed	118.0	194.5	119.4	64.8	-38.6
		5.	Pulp & Waste Paper	127.6	154.5	116.1	21.1	-24.9
		6.	Metalliferrous Ores & Metal Scrap	1,799.7	1,885.4	934.0	4.8	-50.5
		7.	Iron & Steel	1,495.6	1,640.3	1,073.3	9.7	-34.6
II.	Non-Bulk Imports			23,243.0	31,888.4	23,759.6	37.2	-25.5
				(58.8)	(53.4)	(61.4)
	A.	Capital Goods		8,323.6	13,268.3	9,559.9	59.4	-27.9
		1.	Manufactures of Metals	296.1	608.3	349.5	105.4	-42.5
		2.	Machine Tools	284.5	533.4	257.9	87.5	-51.6
		3.	Machinery except Electrical & Electronics	2,744.9	4,540.1	3,198.4	65.4	-29.6
		4.	Electrical Machinery except Electronics	375.2	724.0	406.4	93.0	-43.9
		5.	Electronic Goods incl. Computer Software	3,298.4	4,430.6	3,193.5	34.3	-27.9
		6.	Transport Equipments	1,083.5	1,924.9	1,454.8	77.7	-24.4
		7.	Project Goods	241.1	507.0	699.5	110.3	38.0
	B.	Mainly Export Related Items		3,378.2	6,670.1	4,219.6	97.4	-36.7
		1.	Pearls, Precious & Semi-Precious Stones	1,501.3	3,708.6	2,002.5	147.0	-46.0
		2.	Chemicals, Organic & Inorganic	1,474.4	2,380.5	1,761.8	61.5	-26.0
		3.	Textile Yarn, Fabric, etc.	363.1	504.2	355.3	38.9	-29.5
		4.	Cashew Nuts, raw	39.4	76.8	100.0	94.9	30.2
	C.	Others		11,541.2	11,950.0	9,980.1	3.5	-16.5
		Of which :
		1.	Gold & Silver	4,752.1	5,027.4	2,894.5	5.8	-42.4
		2.	Artificial Resins & Plastic Materials	551.3	746.4	724.6	35.4	-2.9
		3.	Professional Instruments etc. except electrical	457.8	793.0	610.5	73.2	-23.0
		4.	Coal, Coke & Briquittes, etc.	1,052.5	1,904.6	1,531.5	81.0	-19.6
		5.	Medicinal & Pharmaceutical Products	240.5	339.6	319.1	41.2	-6.0
		6.	Chemical Materials & Products	240.1	407.1	314.9	69.6	-22.7
		7.	Non-Metallic Mineral Manufactures	131.2	231.7	153.2	76.5	-33.9
Total Imports				39,520.1	59,760.3	38,678.8	51.2	-35.3
Memo Items
Non-Oil Imports				28,414.1	40,294.6	28,648.0	41.8	-28.9
Non-Oil Imports excl. Gold & Silver				23,662.0	35,267.2	25,753.5	49.0	-27.0
Mainly Industrial Inputs*				22,383.2	32,783.9	23,237.7	46.5	-29.1
P : Provisional. R : Revised. * : Non oil imports net of gold and silver, bulk consumption goods, manufactured fertilisers and professional instruments. Note : Figures in brackets relate to percentage to total imports for the period. Source : DGCI & S.

Statement 6: Direction of India’s Foreign Trade-Imports
(US$ million)
Group / Country					April-May			Percentage Variation
					2007-08	2008-09 R	2009-10 P	(3)/(2)	(4)/(3)
1					2	3	4	5	6
I.	O E C D Countries				13,209.8	18,758.1	12,876.1	42.0	-31.4
	A.	E U			5,347.8	8,099.0	5,232.0	51.4	-35.4
		of which:
		1.	Belgium		834.5	1,159.3	916.5	38.9	-20.9
		2.	France		331.5	717.7	461.7	116.5	-35.7
		3.	Germany		1,431.6	2,112.5	1,401.5	47.6	-33.7
		4.	Italy		542.2	1,157.4	526.5	113.5	-54.5
		5.	Netherland		294.5	466.8	179.1	58.5	-61.6
		6.	U K		791.8	1,039.1	698.8	31.2	-32.7
	B.	North America			2,010.0	3,340.9	2,575.2	66.2	-22.9
		1.	Canada		190.4	474.5	316.1	149.2	-33.4
		2.	U S A		1,819.6	2,866.3	2,259.1	57.5	-21.2
	C.	Asia and Oceania			2,844.2	3,590.9	2,555.4	26.3	-28.8
		of which:
	1.	Australia			1,784.3	1,955.7	1,450.5	9.6	-25.8
	2.	Japan			997.5	1,564.0	1,035.4	56.8	-33.8
	D.	Other O E C D Countries			3,007.8	3,727.3	2,513.5	23.9	-32.6
		of which:
	1.	Switzerland			2,652.1	3,054.8	1,900.3	15.2	-37.8
II.	O P E C				10,853.0	20,778.7	10,813.8	91.5	-48.0
	of which:
	1.	Indonesia			820.3	939.8	1,415.6	14.6	50.6
	2.	Iran			1,715.5	1,907.8	1,487.4	11.2	-22.0
	3.	Iraq			914.3	1,656.4	1,079.5	81.2	-34.8
	4.	Kuwait			887.3	1,823.9	1,102.6	105.5	-39.5
	5.	Saudi Arabia			1,902.9	3,562.1	1,882.8	87.2	-47.1
	6.	U A E			2,233.7	6,957.5	2,191.2	211.5	-68.5
III.	Eastern Europe				506.4	792.5	1,003.3	56.5	26.6
	of which:
	1.	Russia			323.4	549.4	629.2	69.9	14.5
IV.	Developing Countries				12,411.3	19,187.4	13,526.5	54.6	-29.5
	of which:
	A.	Asia			9,648.9	15,723.9	11,041.3	63.0	-29.8
		a)	S A A R C		231.3	306.0	213.4	32.3	-30.3
			1.	Afghanistan	12.6	11.9	16.7	-5.4	39.8
			2.	Bangladesh	37.9	56.6	31.7	49.2	-44.0
			3.	Bhutan	28.4	25.3	19.0	-10.6	-25.2
			4.	Maldives	0.8	0.9	0.4	8.4	-51.1
			5.	Nepal	55.9	99.0	72.4	77.2	-26.9
			6.	Pakistan	42.8	43.5	28.9	1.5	-33.4
			7	Sri Lanka	52.9	68.7	44.3	30.0	-35.6
		b	Other Asian Developing Countries		9,417.6	15,417.9	10,827.9	63.7	-29.8
			of which:
			1.	People’s Rep of China	3,845.4	6,534.8	4,553.2	69.9	-30.3
			2.	Hong Kong	541.0	888.4	752.6	64.2	-15.3
			3.	South Korea	914.9	1,421.8	1,077.2	55.4	-24.2
			4.	Malaysia	958.1	1,304.9	716.7	36.2	-45.1
			5.	Singapore	1,193.6	1,950.7	1,302.3	63.4	-33.2
			6.	Thailand	348.9	478.2	461.6	37.1	-3.5
	B.	Africa			1,802.0	2,486.5	1,913.8	38.0	-23.0
		of which:
		1.	Benin		16.3	39.3	56.1	140.5	42.9
		2.	Egypt Arab Republic		246.4	296.8	312.8	20.4	5.4
		3.	Kenya		11.4	16.9	22.1	48.0	30.4
		4.	South Africa		670.4	1,078.4	1,044.7	60.9	-3.1
		5.	Sudan		108.1	123.4	55.9	14.1	-54.7
		6.	Tanzania		10.3	8.2	17.8	-20.6	118.3
		7.	Zambia		42.8	27.7	10.2	-35.2	-63.1
	C.	Latin American Countries			960.4	977.0	571.4	1.7	-41.5
V.	Others				2,426.3	35.2	45.7	-98.6	29.9
VI.	Unspecified				113.3	208.4	413.4	83.9	98.3
Total Imports					39,520.1	59,760.3	38,678.8	51.2	-35.3
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, December 2009.