India's Foreign Trade: 2010-11(April-March)*

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Published on June 10, 2011

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India's Foreign Trade: 2010-11(April-March)*

India's Foreign Trade: 2010-11 (April-March)*

This article reviews India’s merchandise trade performance during 2010-11 (April-March) on the basis of data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S). It also analyses disaggregated commodity-wise and directionwise details for the period April-December, 2010-11.

Highlights

During 2010-11 exports stood at US$ 245.6 billion and recorded a growth of 37.8 per cent as against a decline of 2.5 per cent during 2009-10 reflecting higher growth in global income and trade as well as the policy thrust of the Government to promote exports in terms of diversifying products and destinations.
During 2010-11, imports at US$ 350.5 billion registered an increase of 21.9 per cent (as against a decline of 3.8 per cent a year ago).
Petroleum, oil and lubricants (POL) imports at US$ 101.7 billion in 2010-11 showed a growth of 16.7 per cent, as against a decline of 7.0 per cent a year ago, primarily due to increase in international crude oil prices. The average price of Indian basket of crude oil during 2010-11 stood at US$ 85.2 per barrel (ranged between US$ 74.4– 122.1 per barrel), which was higher by 22.4 per cent than US$ 69.6 per barrel (ranged between US$ 50.4–77.4 per barrel) during 2009-10.
Non-POL imports during 2010-11 at US$ 248.8 billion recorded a growth of 24.2 per cent as against a decline of 2.4 per cent in 2009-10.
Trade deficit during 2010-11 amounted to US$ 104.9 billion, which was marginally lower by US$ 4.3 billion than US$ 109.2 billion during 2009-10.
The disaggregated data on commodity-wise merchandise export reveal that during April- December 2010 engineering goods, oil and gems and jewellery contributed around 70 per cent of the overall growth in exports.
Destination-wise, there has been diversification of exports towards developing countries with their share in total exports increasing to 41.7 per cent during April-December 2010 from 38.6 per cent a year ago.
Trade deficit on oil account during April-December stood at US$ 45.1 billion which was higher by US$ 3.1 billion than US$ 42.0 billion a year ago. Trade deficit on non-oil account during this period amounted to US$ 33.5 billion, which was lower by US$ 4.3 billion than US$ 37.8 billion in April- December 2009.

India’s Merchandise Trade during April- March 2010-11

Exports

India’s merchandise exports during the month of March 2011 at US$ 29.1 billion witnessed a growth of 43.8 per cent as compared with 56.8 per cent registered in March 2010 (Statement 1). The declining phase of India’s exports in the aftermath of global financial crisis ended in September 2009 and the high pace in export growth continued thereafter (Chart 1).

Exports during 2010-11 stood at US$ 245.6 billion, registering a robust growth of 37.8 per cent as against a decline of 2.5 per cent during the corresponding period of 2009-10 (Table 1 and Statement 2). The robust performance of the exports during 2010-11 may be attributed to higher growth in global income and trade as well as the strategy of the Government to promote exports by diversifying products and destinations.

Table 1: India’s Merchandise Trade
(US$ billion)
Items	2009-10 R	2010-11 P
	April-March
	1	2
Exports	178.2	245.6
	(-2.5)	(37.8)
Oil Exports	28.0	..
	(1.7)
Non-oil Exports	150.2	..
	(-3.2)
Imports	287.4	350.5
	(-3.8)	(21.9)
Oil Imports	87.1	101.7
	(-7.0)	(16.7)
Non-oil Imports	200.3	248.8
	(-2.4)	(24.2)
Trade Balance	-109.2	-104.9
Oil Trade Balance	-59.1	..
Non-Oil Trade Balance	-50.1	..
R: Revised. P: Provisional. .. Not Available. Note: Figures in parentheses show percentage change over the corresponding period of the previous year. Source: Compiled from Ministry of Commerce and Industry and DGCI&S data.

The latest commodity-wise exports data released by DGCI&S for April-December 2010 revealed that manufactured goods continued to maintain the largest share with 65.4 per cent, followed by petroleum products (16.6 per cent) and primary products (14.1 per cent). The shares of manufactured goods and primary products remained stable while share of petroleum products increased reflecting higher quantity of exports coupled with higher international oil prices. Within manufactured goods, the share of engineering goods improved and accounted for the highest share while the shares of others declined (Table 2).

Table 2: India’s Exports of Principal Commodities
(Percentage Shares)
Commodity Group		2008-09	2009-10	2009-10	2010-11
		April-March		April-December
		1	2	3	4
I.	Primary Products	13.9	14.8	14.2	14.1
	Agriculture and Allied Products	9.6	9.9	9.8	9.9
	Ores and Minerals	4.3	4.9	4.5	4.2
II.	Manufactured Goods	67.4	64.6	65.3	65.4
	Leather and Manufactures	1.9	1.9	1.9	1.6
	Chemicals and Related Products	12.4	12.8	12.9	12.0
	Engineering Goods	25.9	21.5	22.6	27.0
	Textiles and Textile Products	10.9	11.1	11.3	9.9
	Gems and Jewellery	15.3	16.3	15.6	13.8
III.	Petroleum Products	15.1	15.7	15.3	16.6
IV.	Others	3.6	4.9	5.2	3.9
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

During April-December 2010-11, exports of all major commodity groups registered a robust growth with engineering goods and petroleum products recording sharp growth rates of 59.8 per cent and 45.4 per cent, respectively, partly reflecting the base effect. These were followed by agricultural and allied products (35.6 per cent), ores and minerals (27.1per cent), chemicals and related products (24.5 per cent) and gems and jewellery (18.5 per cent). At further disaggregated level, the overall growth of 31.9 per cent in non-oil exports was brought about mainly by items such as processed minerals, transport equipments, manufacture of metals, residual chemicals and allied products and cotton yarn fabrics & made-ups (Statement 3). The growth in oil exports was on account of rise in world oil prices as well as rise in quantity of oil exported. During the period the volume of oil exports recorded a growth of 25.0 per cent as compared with 21.0 per cent in the corresponding period of the preceding year.

Destination-wise, during April-December 2010-11, developing countries and OECD countries accounted for 41.7 per cent and 34.0 per cent of India’s total exports, respectively, followed by OPEC with a share of 21.3 per cent (Table 3).

Table 3: India’s Exports to Principal Regions
(Percentage Shares)
Region/Country		2008-09	2009-10	2009-10	2010-11
		April-March		April-December
		1	2	3	4
I.	OECD Countries	37.4	36.0	36.4	34.0
	EU	21.3	20.2	20.6	18.6
	North America	12.2	11.6	11.6	11.0
	US	11.5	10.9	10.9	10.4
	Asia and Oceania	2.5	2.9	2.9	3.0
	Other OECD Countries	1.4	1.3	1.3	1.5
II.	OPEC	21.3	21.1	21.2	21.3
	UAE	13.1	13.4	12.9	12.6
III.	Eastern Europe	1.1	1.0	1.0	1.3
IV.	Developing Countries	37.5	39.3	38.6	41.7
	Asia	28.0	29.9	29.2	30.6
	SAARC	4.6	4.7	4.5	5.0
	Other Asian Developing Countries	23.4	25.2	24.7	25.6
	People’s Republic of China	5.1	6.5	6.0	7.8
	Africa	6.3	5.8	6.1	6.9
	Latin America	3.1	3.6	3.3	4.2
V.	Others/Unspecified	2.7	2.6	2.8	1.7
	Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

During the period, the share of developing countries increased, OPEC remained stable while the OECD share declined as compared with corresponding period of previous year. Within developing countries, the share of Latin American countries and China improved during April-December 2010. The policy initiatives undertaken by the Government of India to promote diversification of products as well as markets under various schemes such as encouragement of Free Trade Zones, export promotion of capital goods, Market Linked Focus Product Scheme with a focus on markets of Latin America and Africa and some of CIS countries for exports of specific products have also helped in diversifying India’s exports.

Country-wise, during April-December 2010-11, the UAE continued to remain the largest importer of Indian goods with a share of 12.6 per cent, followed by the US (10.4 per cent), China (7.8 per cent), Singapore (4.1 per cent) and Hong Kong (4.0 per cent). These five countries together accounted for 38.9 per cent of India’s total exports. India’s exports to all major destinations such as the developing countries, Africa, North America, EU and OPEC registered a growth during April-December 2010-11(Statement 4).

Imports

India’s merchandise imports during the month of March 2011 at US$ 34.7 billion witnessed an increase of 17.3 per cent as against a growth of 78.5 per cent recorded in March 2010. During 2010-11, imports at US$ 350.7 billion registered a growth of 21.9 per cent (3.8 per cent decline a year ago) [Statement 1 and Statement 2].

During March 2011, petroleum, oil and lubricants (POL) imports at US$ 9.4 billion registered an increase of 8.2 per cent. The POL imports at US$ 101.7 billion showed a growth of 16.7 per cent during 2010-11, as against a decline of 7.0 per cent a year ago, primarily due to increase in international crude oil prices. The average price of Indian basket of crude oil during 2010- 11 stood at US$ 85.2 per barrel (ranged between US$ 74.4-122.1 per barrel), which was higher by 22.4 per cent than US$ 69.6 per barrel (ranged between US$ 50.4–77.4 per barrel) during 2009-10 (Table 4). Non-POL imports during 2010-11 at US$ 249.1 billion recorded a growth of 24.2 per cent as against a decline of 2.4 per cent in 2009-10.

Table 4: Trends in Crude Oil Prices
(US$/barrel)
Period	Dubai	Brent	WTI*	Indian Basket**
Period	1	2	3	4
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
2010-11	84.1	86.7	83.2	85.2
(April) 2010	83.0	84.9	84.5	83.8
(April) 2011	115.8	84.6	n.a.	83.7
* 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. n.a.: Not available. Sources**: International Monetary Fund, International Financial Statistics; World Bank’s Commodity Price Pink Sheet; Ministry of Petroleum and Natural Gas, Government of India.

The commodity-wise imports data for April- December 2010-11, latest available, indicate that POL imports at US$ 73.3 billion showed a growth of 19.3 per cent as against a decline of 24.2 per cent a year ago, mainly due to rise in international crude oil prices (Statement 5). The volume of POL imports recorded a moderate decline of 1.9 per cent as against an increase of 14.6 per cent during April- December 2009.

Non-POL imports during April-December 2010-11 at US$ 174.9 billion witnessed a growth of 20.3 per cent as against a decline of 15.8 per cent during the corresponding period of 2009-10.

The overall growth in non-POL imports during April-December 2010-11 was mainly due to growth in imports of export-related items such as pearls, precious and semi-precious stones (whose share in total imports almost doubled) and organic and inorganic chemicals, iron and steel and metalliferrous ores & metal scrap, non-ferrous metals and project goods. In contrast, imports of capital goods witnessed a marginal increase during the period (Statement 5). During April-December 2010- 11, the shares of metalliferrous ores & metal scrap, iron and steel and pearls, precious and semi-precious stones in total imports improved, while those of capital goods, ‘petroleum, crude and products’, coal, coke and briquettes and fertilisers declined marginally (Table 5).

Source-wise, during April-December 2010, developing countries had a share of 33.7 per cent in India’s total imports, followed by OPEC and OECD regions (Table 6). The shares of developing countries and OPEC countries improved, while that of OECD declined during the period. Country-wise, China continued to be the largest source of imports with a share of 12.1 per cent in total imports, followed by the UAE, Saudi Arabia, Switzerland and US. These five countries together constituted around 36.6 per cent of India’s imports.

Trade Deficit

With the consistent rise in exports and decline in imports, trade deficit narrowed to US$ 5.6 billion during March 2011 as against a deficit of US$ 9.3 billion in March 2010 (Statement 1). The trade deficit on a cumulative basis was also marginally lower at US$ 104.8 billion in 2010-11 than US$ 109.6 billion in 2009-10 due to lower order of increase in imports relative to exports during the period (Statement 2).

Table 5: Imports of Principal Commodities
(Percentage Shares)
Commodity/Group		2008-09	2009-10	2009-10	2010-11
		April-March		April-December
		1	2	3	4
1.	Petroleum, Crude and Products	31.3	30.3	29.7	29.5
2.	Capital Goods	24.0	22.9	23.8	20.1
3.	Gold and Silver	7.6	10.3	9.3	9.3
4.	Organic and Inorganic Chemicals	4.1	4.1	4.2	4.4
5.	Coal, Coke and Briquettes, etc.	3.3	3.1	3.2	3.1
6.	Fertilisers	4.6	2.4	2.9	2.5
7.	Metalliferrous Ores, Metal Scrap, etc.	2.6	2.7	2.6	2.8
8.	Iron and Steel	3.2	2.9	2.9	3.1
9.	Pearls, Precious and Semi-Precious Stones	5.5	5.6	5.0	7.9
10.	Others	13.8	15.7	16.4	17.3
Total Imports		100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

During April-December 2010, trade deficit on oil account stood at US$ 45.1 billion, which was higher by US$ 3.1 billion over the level of US$ 42.0 billion a year ago. The trade deficit on non-oil account during this period amounted to US$ 33.5 billion, which was lower by US$ 4.3 billion than US$ 37.8 billion a year ago.

Table 6: Shares of Groups/Countries in India’s Imports
(Percentage Shares)
Region/Country		2008-09	2009-10	2009-10	2010-11
		April-March		April-December
		1	2	3	4
I.	OECD Countries	32.3	32.8	33.5	29.7
	EU	14.1	13.3	13.9	12.0
	France	1.5	1.5	1.5	0.8
	Germany	4.0	3.6	3.7	3.3
	UK	1.9	1.5	1.6	1.5
	North America	7.0	6.6	7.3	5.9
	US	6.2	5.9	6.4	5.3
	Asia and Oceania	6.4	6.8	6.8	5.8
	Other OECD Countries	4.7	6.0	5.6	6.0
II.	OPEC	32.6	32.1	30.9	33.1
	UAE	7.7	6.7	5.9	7.8
III.	Eastern Europe	2.2	2.1	2.3	1.7
IV.	Developing Countries	32.4	32.6	32.8	33.7
	Asia	26.3	25.7	25.9	27.4
	SAARC	0.6	0.6	0.6	0.6
	Other Asian Developing Countries	25.7	25.1	25.3	26.9
	of which:
	People’s Republic of China	10.7	10.7	10.9	12.1
	Africa	4.2	4.3	4.3	3.8
	Latin America	1.9	2.6	2.6	2.5
V.	Others/Unspecified	0.5	0.4	0.5	1.8
	Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Global Trade

According to the latest monthly data available from International Monetary Fund’s (IMF) and International Financial Statistics (IFS), world merchandise exports witnessed a turnaround in November 2009 and thereafter followed a continuous rising trend till March 2010, albeit with some moderation in the subsequent months. However, it could be observed that India’s export performance has been better than the overall global trends (Chart 2).

Cross-country comparison of export performance shows that India fared well in 2010 as compared to many emerging market economies including China (Table 7).

Table 7: Growth in Exports – Cross-Country Comparison
Per Cent
Region/Country	2009	2010	2010	2011
	January-December		January
	1	2	3	4
World	-22.8	21.3	19.6	21.2
Advanced Economies	-21.7	18.3	19.4	19.4
US	-18.8	20.9	18.6	18.8
France	-22.0	9.5	13.0	16.2
Germany	-22.8	13.4	8.2	n.a.
Japan	-25.7	32.6	39.9	n.a.
Emerging and Developing Economies	-24.5	28.1	19.1	n.a.
Singapore	-20.2	30.4	46.0	27.1
China	-15.9	31.3	21.0	n.a.
India	-15.4	31.5	20.9	32.4
Indonesia	-14.3	32.2	41.8	39.2
Korea	-14.3	29.0	45.4	45.1
Malaysia	-24.9	26.2	44.8	13.6
Thailand	-13.6	28.5	32.9	19.4
Source: (1) IMF (www.imfstatistics.org). (2) DGCI&S for India.

World Commodity Prices

As per the data on commodity prices available from IMF's International Financial Statistics, the world commodity prices which have registered a lower rise in June 2010 reflecting the base effect started rising generally in the subsequent months of the financial year 2010-11 (Chart 3). On monthly average basis, all commodity prices during 2010-11 rose by 23.4 per cent over the corresponding period of the preceding year.

Statement 1 : India’s Foreign Trade-March 2011
Year	Export			Import			Trade Balance
	Total	Oil	Non-Oil	Total	Oil	Non-Oil	Total	Oil	Non-Oil
	1	2	3	4	5	6	7	8	9
Rupees crore
2008-09	66,169	7,801	58,368	85,022	21,387	63,636	-18,854	-13,586	-5,268
	(-5.0)	(-25.5)	(-1.3)	(-10.6)	(-41.6)	(8.8)
2009-10 R	92,149	16,972	75,177	1,34,792	39,680	95,112	-42,643	-22,708	-19,935
	(39.3)	(117.6)	(28.8)	(58.5)	(85.5)	(49.5)
2010-11 P	1,31,082	..	..	1,56,314	42,466	1,13,848	-25,232	..	..
	(42.3)			(16.0)	(7.0)	(19.7)
US dollar million
2008-09	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)	(-41.8)
2009-10 R	20,254	3,730	16,524	29,627	8,722	20,905	-9,373	-4,992	-4,381
	(56.8)	(145.0)	(45.0)	(78.5)	(108.9)	(68.3)	(154.7)
2010-11 P	29,135	..	..	34,743	9,439	25,304	-5,608	..	..
	(43.8)			(17.3)	(8.2)	(21.0)	(-40.2)
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 2: India's Foreign Trade
Year	Export			Import			Trade Balance
	Total	Oil	Non-Oil	Total	Oil	Non-Oil	Total	Oil	Non-Oil
	1	2	3	4	5	6	7	8	9
April-March Rupees crore
2008-09	8,40,755	1,23,398	7,17,357	13,74,436	4,19,968	9,54,468	-5,33,680	-2,96,570	-2,37,111
	(28.2)	(8.1)	(32.4)	(35.8)	(31.0)	(38.0)
2009-10 R	8,45,534	1,32,899	7,12,635	13,63,736	4,11,649	9,52,087	-5,18,202	-2,78,750	-2,39,452
	(0.6)	(7.7)	(-0.7)	(-0.8)	(-2.0)	(-0.2)
2010-11 P	11,18,823	..	..	15,96,869	4,63,008	11,33,861	-4,78,046	..	..
	(32.3)			(17.1)	(12.5)	(19.1)
US dollar million
2008-09	182,800	27,547	155,253	298,834	93,672	205,162	-116,034	-66,125	-49,910
	(12.2)	(-2.9)	(15.4)	(18.8)	(17.6)	(19.4)
2009-10 R	178,220	28,012	150,208	287,445	87,136	200,310	-109,226	-59,124	-50,102
	(-2.5)	(1.7)	(-3.2)	(-3.8)	(-7.0)	(-2.4)
2010-11 P	245,557	..	..	350,478	101,689	248,789	-104,921	..	..
	(37.8)			(21.9)	(16.7)	(24.2)
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. Source: DGCI & S

Statement 3: India's Exports of Principal Commodities
(US$ million)
Commodity/Group	April-December			Percentage Variation
	2008-09	2009-10 R	2010-11 P	(2)/(1)	(3)/(2)
	1	2	3	4	5
I. Primary Products	19,655.8	18,051.0	23,999.0	-8.2	33.0
	(13.3)	(14.2)	(14.1)
A. Agricultural & Allied Products	13,906.5	12,385.4	16,799.9	-10.9	35.6
	(9.4)	(9.8)	(9.9)
of which:
1. Tea	473.5	455.3	554.3	-3.8	21.7
2. Coffee	376.1	288.2	405.8	-23.4	40.8
3. Rice	1,811.2	1,783.0	1,705.8	-1.6	-4.3
4. Wheat	0.2	0.0	0.1	–	–
5. Cotton Raw incl. Waste	473.9	1,039.1	2,025.2	119.3	94.9
6. Tobacco	546.8	691.0	654.9	26.4	-5.2
7. Cashew incl. CSNL	511.5	453.5	427.8	-11.3	-5.7
8. Spices	1,073.5	940.4	1,250.2	-12.4	32.9
9. Oil Meal	1,772.9	1,180.6	1,510.3	-33.4	27.9
10. Marine Products	1,238.8	1,583.3	1,978.1	27.8	24.9
11. Sugar & Molasses	993.6	19.9	951.6	-98.0	–
B. Ores & Minerals	5,749.3	5,665.5	7,199.1	-1.5	27.1
	(3.9)	(4.5)	(4.2)
of which:
1. Iron Ore	3,182.3	3,774.3	3,800.3	18.6	0.7
2. Processed Minerals	1,103.1	891.0	2,171.2	-19.2	143.7
II. Manufactured Goods	97,189.4	82,932.7	110,895.0	-14.7	33.7
of which:	(65.9)	(65.3)	(65.4)
A. Leather & Manufactures	2,803.8	2,454.0	2,715.0	-12.5	10.6
B. Chemicals & Related Products	18,169.7	16,391.4	20,405.9	-9.8	24.5
1. Basic Chemicals, Pharmaceuticals & Cosmetics	12,372.3	11,321.3	13,527.2	-8.5	19.5
2. Plastic & Linoleum Products	2,487.8	2,356.5	3,323.0	-5.3	41.0
3. Rubber, Glass, Paints & Enamels, etc.	2,413.7	1,981.0	2,540.9	-17.9	28.3
4. Residual Chemicals & Allied Products	895.9	732.6	1,014.8	-18.2	38.5
C. Engineering Goods	37,370.5	28,670.8	45,819.2	-23.3	59.8
of which:
1. Manufactures of Metals	5,984.7	4,052.3	6,569.4	-32.3	62.1
2. Machinery & Instruments	8,596.0	7,000.8	8,321.2	-18.6	18.9
3. Transport Equipments	8,125.3	7,596.8	13,023.4	-6.5	71.4
4. Iron & Steel	5,024.0	2,619.4	3,892.0	-47.9	48.6
5. Electronic Goods	5,320.3	4,350.1	5,653.7	-18.2	30.0
D. Textiles & Textile Products	15,066.9	14,296.5	16,774.3	-5.1	17.3
1. Cotton Yarn, Fabrics, Made-ups, etc.	3,312.2	2,536.4	4,233.2	-23.4	66.9
2. Natural Silk Yarn, Fabrics Made-ups etc. (Incl. silk waste)	289.0	222.4	266.0	-23.0	19.6
3. Manmade Yarn, Fabrics, Made-ups, etc.	2,418.7	2,603.6	2,944.2	7.6	13.1
4. Manmade Staple Fibre	212.1	251.0	297.1	18.4	18.3
5. Woollen Yarn, Fabrics, Made-ups,etc.	78.4	64.6	73.4	-17.6	13.6
6. Readymade Garments	7,769.6	7,796.4	7,644.0	0.3	-2.0
7. Jute & Jute Manufactures	245.9	165.7	348.8	-32.6	110.6
8. Coir & Coir Manufactures	110.6	119.7	109.8	8.2	-8.3
9. Carpets	630.4	536.6	857.9	-14.9	59.9
(a) Carpet (excl. silk) Handmade	623.1	529.0	856.4	-15.1	61.9
(b) Carpet Millmade	0.0	0.0	0.0
(c) Silk Carpet	7.3	7.6	1.4	4.8	-81.1
E. Gems & Jewellery	22,463.4	19,820.7	23,491.0	-11.8	18.5
F. Handicrafts	255.6	155.8	154.1	-39.0	-1.1
III. Petroleum Products	23,464.5	19,426.9	28,245.8	-17.2	45.4
	(15.9)	(15.3)	(16.6)
IV. Others	7,259.3	6,576.4	6,540.8	-9.4	-0.5
	(4.9)	(5.2)	(3.9)
Total Exports	147,569.0	126,986.9	169,680.5	-13.9	33.6
P: Provisional. R: Revised. Note: Figures in brackets relate to percentage to the total exports for the period. Source: DGCI & S.

Statement 4: Direction of India's Foreign Trade-Exports
(US$ million)
Group/Country	April-December			Percentage Variation
	2008-09	2009-10 R	2010-11 P	(2)/(1)	(3)/(2)
	1	2	3	4	5
I. O E C D Countries	54,024.3	46,174.4	57,662.0	-14.5	24.9
A. European Union	30,471.1	26,116.0	31,506.3	-14.3	20.6
of which:
1. Belgium	3,596.7	2,591.4	3,844.0	-28.0	48.3
2. France	2,297.9	2,462.8	3,490.7	7.2	41.7
3. Germany	4,832.6	3,917.8	4,477.0	-18.9	14.3
4. Italy	2,960.4	2,396.5	3,196.2	-19.1	33.4
5. Netherlands	4,949.7	5,014.4	5,175.3	1.3	3.2
6. U K	5,116.4	4,668.0	4,875.2	-8.8	4.4
B. North America	17,849.1	14,675.3	18,598.5	-17.8	26.7
1. Canada	1,047.6	822.7	949.1	-21.5	15.4
2. U S A	16,801.5	13,852.7	17,649.5	-17.6	27.4
C. Asia & Oceania	3,623.0	3,717.5	5,058.3	2.6	36.1
of which:
1. Australia	1,137.8	1,013.0	1,231.6	-11.0	21.6
2. Japan	2,331.9	2,495.5	3,684.4	7.0	47.6
D. Other O E C D Countries	2,081.1	1,665.7	2,498.9	-20.0	50.0
of which :
1. Switzerland	572.9	425.0	454.1	-25.8	6.9
II. O P E C	31,959.1	26,882.6	36,131.4	-15.9	34.4
of which:
1. Indonesia	1,995.6	2,348.9	3,831.3	17.7	63.1
2. Iran	2,005.6	1,430.1	2,075.5	-28.7	45.1
3. Iraq	335.7	375.7	588.3	11.9	56.6
4. Kuwait	631.1	571.4	1,443.6	-9.5	152.6
5. Saudi Arabia	4,257.3	2,947.1	3,518.1	-30.8	19.4
6. U A E	19,939.4	16,399.2	21,422.9	-17.8	30.6
III. Eastern Europe	1,643.3	1,282.5	2,196.4	-22.0	71.3
of which:
1. Russia	869.4	696.6	1,115.4	-19.9	60.1
IV. Developing Countries	54,543.4	48,974.6	70,731.4	-10.2	44.4
A. Asia	39,836.1	37,119.7	51,915.8	-6.8	39.9
a) S A A R C	6,821.6	5,774.0	8,425.3	-15.4	45.9
1. Afghanistan	289.5	362.8	300.4	25.3	-17.2
2. Bangladesh	2,014.9	1,710.5	2,293.6	-15.1	34.1
3. Bhutan	84.7	81.0	123.1	-4.3	51.9
4. Maldives	81.0	61.1	81.4	-24.5	33.2
5. Nepal	1,230.7	1,082.1	1,371.9	-12.1	26.8
6. Pakistan	1,093.3	1,120.0	1,780.6	2.4	59.0
7. Sri Lanka	2,027.5	1,356.5	2,474.4	-33.1	82.4
b) Other Asian Developing Countries	33,014.5	31,345.7	43,490.4	-5.1	38.7
of which:
1. People’s Republic of China	6,713.3	7,563.4	13,182.2	12.7	74.3
2. Hong Kong	5,133.0	5,435.7	6,810.9	5.9	25.3
3. South Korea	2,656.0	2,435.4	2,681.7	-8.3	10.1
4. Malaysia	2,118.2	2,182.9	2,915.9	3.1	33.6
5. Singapore	6,969.7	5,388.8	6,874.7	-22.7	27.6
6. Thailand	1,589.1	1,260.6	1,677.8	-20.7	33.1
B. Africa	9,650.3	7,714.4	11,678.6	-20.1	51.4
of which:
1. Benin	160.9	151.2	192.1	-6.0	27.0
2. Egypt Arab Republic	1,413.2	1,028.7	1,559.3	-27.2	51.6
3. Kenya	1,137.3	1,135.4	1,681.1	-0.2	48.1
4. South Africa	1,652.6	1,536.6	3,240.2	-7.0	110.9
5. Sudan	360.1	327.0	349.4	-9.2	6.9
6. Tanzania	864.1	709.0	909.1	-18.0	28.2
7. Zambia	86.8	63.3	69.8	-27.0	10.2
C. Latin American Countries	5,057.0	4,140.5	7,137.1	-18.1	72.4
V. Others	2,021.7	310.2	802.6	-84.7	158.7
VI. Unspecified	3,377.5	3,362.5	2,156.7	-0.4	-35.9
Total Exports	147,569.0	126,986.9	169,680.5	-13.0	33.6
P: Provisional. R: Revised. Source: DGCI & S

Statement 5: India’s Imports of Principal Commodities
(US$ million)
Commodity/Group		April-December			Percentage Variation
		2008-09	2009-10 R	2010-11 P	(2)/(1)	(3)/(2)
		1	2	3	4	5
I.	Bulk Imports	119,904.2	90,081.7	107,317.5	-24.9	19.1
		(47.2)	(43.6)	(43.2)
	A. Petroleum, Petroleum Products & Related Material	81,104.2	61,455.4	73,329.5	-24.2	19.3
		(32.0)	(29.7)	(29.5)
	B. Bulk Consumption Goods	3,541.7	6,470.8	6,541.3	82.7	1.1
	1. Wheat	0.0	5.3	51.8	–	–
	2. Cereals & Cereal Preparations	36.3	36.4	43.3	0.3	19.1
	3. Edible Oil	2,454.8	3,963.6	4,587.4	61.5	15.7
	4. Pulses	1,014.0	1,589.9	1,262.8	56.8	-20.6
	5. Sugar	36.5	875.6	596.0	-	-31.9
	C. Other Bulk Items	35,258.4	22,155.5	27,446.6	-37.2	23.9
	1. Fertilisers	12,516.0	5,939.2	6,086.1	-52.5	2.5
	a) Crude	844.4	499.9	504.1	-40.8	0.8
	b) Sulphur & Unroasted Iron Pyrites	632.9	78.8	155.2	-87.6	97.0
	c) Manufactured	11,038.7	5,360.6	5,426.9	-51.4	1.2
	2. Non-Ferrous Metals	5,329.4	2,250.5	3,005.3	-57.8	33.5
	3. Paper, Paperboard & Mgfd. incl. Newsprint	1,508.3	1,115.8	1,546.8	-26.0	38.6
	4. Crude Rubber, incl. Synthetic & Reclaimed	783.3	737.8	1,347.8	-5.8	82.7
	5. Pulp & Waste Paper	666.1	638.9	858.5	-4.1	34.4
	6. Metalliferrous Ores & Metal Scrap etc.	6,753.3	5,396.5	6,857.8	-20.1	27.1
	7. Iron & Steel	7,702.0	6,076.7	7,744.4	-21.1	27.4
II.	Non-Bulk Imports	133,905.1	116,725.0	140,925.1	-12.8	20.7
		(52.8)	(56.4)	(56.8)
	A. Capital Goods	57,028.4	49,269.0	49,950.7	-13.6	1.4
	1. Manufactures of Metals	2,637.5	1,808.7	2,081.4	-31.4	15.1
	2. Machine Tools	1,909.3	1,189.1	1,550.9	-37.7	30.4
	3. Machinery except Electrical & Electronics	17,276.4	14,308.4	16,593.0	-17.2	16.0
	4. Electrical Machinery except Electronics	3,044.4	2,345.5	2,545.9	-23.0	8.5
	5. Electronic Goods incl. Computer Software	19,382.6	17,425.8	16,371.7	-10.1	-6.0
	6. Transport Equipment	10,383.3	9,074.6	6,299.1	-12.6	-30.6
	7. Project Goods	2,394.9	3,116.9	4,508.8	30.2	44.7
	B. Mainly Export-Related Items	26,023.7	21,624.3	33,197.3	-16.9	53.5
	1. Pearl, Precious, Semi-Precious Stones	13,193.9	10,428.2	19,635.1	-21.0	88.3
	2. Chemicals, Organic & Inorganic	10,244.2	8,754.7	10,821.5	-14.5	23.6
	3. Textile Yarn, Fabric, etc.	2,083.5	1,929.9	2,331.1	-7.4	20.8
	4. Cashew Nuts	502.2	511.5	409.7	1.9	-19.9
	C. Others	50,853.0	45,831.8	57,777.0	-9.9	26.1
	of which:
	1. Gold & Silver	20,874.8	19,262.7	23,126.1	-7.7	20.1
	2. Artificial Resins & Plastic Materials etc.	3,072.8	3,665.6	5,285.8	19.3	44.2
	3. Professional Instruments etc., except Electrical	3,427.4	2,694.3	2,784.9	-21.4	3.4
	4. Coal, Coke & Briquettes etc.	8,405.0	6,687.5	7,597.4	-20.4	13.6
	5. Medicinal & Pharmaceutical Products	1,421.8	1,555.3	1,822.4	9.4	17.2
	6. Chemical Material & Products	1,695.5	1,695.6	2,079.9	0.0	22.7
	7. Non-Metallic Mineral Manufactures	968.2	800.8	1,087.2	-17.3	35.8
	Total Imports	253,809.3	206,806.7	248,242.6	-18.5	20.0
	Memo Items
	Non-Oil Imports	172,705.1	145,351.3	174,913.0	-15.8	20.3
	Non-Oil Imports excl. Gold & Silver	151,830.3	126,088.6	151,787.0	-17.0	20.4
	Mainly Industrial Inputs*	133,822.6	111,562.9	137,033.8	-16.6	22.8
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-December			Percentage Variation
	2008-09	2009-10 R	2010-11 P	(2)/(1)	(3)/(2)
	1	2	3	4	5
I. O E C D Countries	80,825.4	69,270.2	73,690.6	-14.3	6.4
A. European Union	34,418.8	28,651.1	29,760.8	-16.8	3.9
of which:
1. Belgium	4,969.2	4,512.9	5,793.3	-9.2	28.4
2. France	3,673.0	3,131.2	1,918.2	-14.8	-38.7
3. Germany	8,973.1	7,705.4	8,240.0	-14.1	6.9
4. Italy	3,583.2	2,768.1	2,960.6	-22.8	7.0
5. Netherlands	1,585.6	1,535.8	1,354.8	-3.1	-11.8
6. U K	5,158.8	3,227.5	3,621.3	-37.4	12.2
B. North America	17,432.6	15,049.5	14,592.5	-13.7	-3.0
1. Canada	2,087.6	1,714.3	1,461.6	-17.9	-14.7
2. U S A	15,345.0	13,335.2	13,130.9	-13.1	-1.5
C. Asia and Oceania	15,891.6	14,043.2	14,356.4	-11.6	2.2
of which:
1. Australia	9,181.5	8,808.7	7,938.4	-4.1	-9.9
2. Japan	6,333.2	4,861.5	5,898.1	-23.2	21.3
D. Other O E C D Countries	13,082.4	11,526.4	14,981.0	-11.9	30.0
of which:
1. Switzerland	10,864.2	9,352.4	13,640.8	-13.9	45.9
II. O P E C	84,872.6	63,943.0	82,289.5	-24.7	28.7
of which:
1. Indonesia	5,057.6	6,217.3	6,769.2	22.9	8.9
2. Iran	10,158.6	8,459.6	7,805.4	-16.7	-7.7
3. Iraq	7,042.5	5,251.7	5,527.1	-25.4	5.2
4. Kuwait	8,028.2	6,030.5	6,337.3	-24.9	5.1
5. Saudi Arabia	17,036.2	11,805.5	14,785.6	-30.7	25.2
6. U A E	20,183.5	12,203.4	19,474.4	-39.5	59.6
III. Eastern Europe	5,635.1	4,776.9	4,180.7	-15.2	-12.5
of which:
1. Russia	3,785.4	2,882.6	2,718.7	-23.8	-5.7
IV. Developing Countries	79,369.5	67,907.3	83,652.5	-14.4	23.2
A. Asia	64,145.4	53,547.8	68,122.5	-16.5	27.2
a) S A A R C	1,462.4	1,177.2	1,468.1	-19.5	24.7
1. Afghanistan	97.7	88.7	84.8	-9.2	-4.4
2. Bangladesh	262.8	185.2	282.8	-29.5	52.7
3. Bhutan	119.1	109.4	142.5	-8.1	30.2
4. Maldives	3.3	2.6	30.6	-22.0	–
5. Nepal	413.9	344.5	355.7	-16.8	3.2
6. Pakistan	296.0	203.2	238.0	-31.4	17.1
7. Sri Lanka	269.6	243.7	333.9	-9.6	37.0
b) Other Asian Developing Countries	62,683.0	52,370.6	66,654.4	-16.5	27.3
of which:
1. People’s Republic of China	26,149.4	22,608.0	29,924.1	-13.5	32.4
2. Hong Kong	4,712.3	3,216.6	5,448.7	-31.7	69.4
3. South Korea	7,139.8	6,269.8	7,180.3	-12.2	14.5
4. Malaysia	5,978.4	3,728.7	4,292.1	-37.6	15.1
5. Singapore	6,215.6	4,686.4	5,078.9	-24.6	8.4
6. Thailand	2,169.5	2,146.4	3,024.4	-1.1	40.9
B. Africa	10,842.5	8,985.9	9,445.0	-17.1	5.1
of which:
1. Benin	106.5	115.4	129.9	8.4	12.5
2. Egypt Arab Republic	1,612.1	1,199.5	902.1	-25.6	-24.8
3. Kenya	61.2	56.1	84.4	-8.4	50.6
4. South Africa	4,807.1	4,211.9	4,753.4	-12.4	12.9
5. Sudan	359.3	330.3	497.0	-8.1	50.5
6. Tanzania	109.2	161.3	179.6	47.8	11.3
7. Zambia	127.6	73.8	20.7	-42.2	-72.0
C. Latin American Countries	4,381.6	5,373.6	6,085.0	22.6	13.2
V. Others	2,101.7	110.4	73.8	94.7	-33.2
VI. Unspecified	1,005.1	798.9	4,355.5	-20.5	445.2
Total Imports	253,809.3	206,806.7	248,242.6	-18.5	20.0
P: Provisional. R: Revised. Source: DGCI&S.

* Prepared in the Division of International Trade and Finance, Department of Economic and Policy Research. The previous issue of the article was published in the Reserve Bank Bulletin, March 2011.