India’s Foreign Trade: April-September 2010*

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Published on December 09, 2010

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India’s Foreign Trade: April-September 2010*

This article reviews India’s merchandise trade performance during the first half of 2010-11 (April-September) on the basis of data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S). It also analyses disaggregated commodity-wise and direction-wise details for the first quarter of 2010-11 (April-June).

Highlights

• During April-September 2010, exports stood at US$ 103.6 billion, posting an increase of 28.0 per cent as against a decline of 25.7 per cent during April- September 2009.

• During April-September 2010, imports at US$ 166.5 billion registered a rise of 29.9 per cent (30.7 per cent decline a year ago).

• Petroleum, oil and lubricants (POL) imports at US$ 48.7 billion during April- September 2010 showed a growth of 30.0 per cent, as against a decline of 40.8 per cent a year ago, primarily due to increase in international crude oil prices over the period. The average price of Indian basket of crude oil during April- September 2010 stood at US$ 76.6 per barrel (ranging between US$ 73.5-84.1 per barrel), which was higher by 20.3 per cent than US$ 63.6 per barrel (ranging between US$ 50.1-72.0 per barrel) during April-September 2009.

• Non-POL imports during April- September 2010 at US$ 117.8 billion recorded a growth of 29.9 per cent as against a decline of 25.5 per cent in April-September 2009.

• Trade deficit during April-September 2010 amounted to US$ 62.8 billion, which was higher by US$ 15.6 billion (33.2 per cent) than US$ 47.2 billion during April-September 2009 due to relatively larger increase in imports than exports during the period.

• The disaggregated data on commoditywise merchandise trade as well as direction of trade reveal that trade of almost all major commodity groups and with major trading partners registered a rise during first quarter of 2010-11 over the corresponding quarter of preceding year.

India’s Merchandise Trade during April-September 2010

Exports

India’s merchandise exports during September 2010 at US$ 18.0 billion recorded a growth of 23.2 per cent as against a decline of 7.4 per cent registered in September 2009 (Statement 1). A notable aspect of exports was that the declining phase of India’s exports in the aftermath of global financial crisis ended with September 2009. Thus, the low base effect would be ebbed out in the growth of exports from October 2010 (Chart 1).

Cumulatively, exports during first half of 2010-11 stood at US$ 103.6 billion, registering an increase of 28.0 per cent as against a decline of 25.7 per cent during corresponding period of 2009-10 (Table 1 and Statement 2).

The commodity-wise exports data released by DGCI&S for April-June 2010 revealed that manufactured goods continued to maintain the largest share at 62.3 per cent, followed by petroleum products (16.4 per cent) and primary products (12.8 per cent). Within manufactured goods, engineering goods contributed the highest (Table 2).

During April-June 2010, exports of all major commodity groups registered a robust growth with petroleum products and ores and minerals recording a sharp growth of 93.8 per cent and 83.3 per cent, respectively, partly reflecting low base effect. These were followed by chemicals and related products (30.6 per cent), engineering goods (28.3 per cent) and gems and jewellery (18.7 per cent). Overall, the non-oil exports grew at 29.4 per cent. The overall growth in non-oil exports was brought about mainly by items such as iron ore, basic chemicals, pharmaceuticals and cosmetics, transport equipments 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 there was a growth of 43.0 per cent in volume of oil exports as against a decline of 4.6 per cent during April-June 2009.

Table 1: India's Merchandise Trade
(US$ billion)
Items	2009-10 R	2010-11 P
Items	April-September
1	2	3
Exports	81.0	103.6
	(-25.7)	(28.0)
Oil Exports	10.8	..
	(-42.5)
Non-oil Exports	70.2	..
	(-22.2)
Imports	128.1	166.5
	(-30.7)	(29.9)
Oil Imports	37.5	48.7
	(-40.8)	(30.0)
Non-oil Imports	90.7	117.8
	(-25.5)	(29.9)
Trade Balance	-47.2	-62.8
Oil Trade Balance	-26.7	..
Non-oil Trade Balance	-20.5	..
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	2008-09	2009-10	2009-10	2010-11
Commodity Group	April-March		April-June
1	2	3	4	5
I. Primary Products	13.7	14.8	14.2	12.8
Agriculture and Allied Products	9.5	9.9	10.2	7.4
Ores and Minerals	4.2	4.8	4.0	5.4
II. Manufactured Goods	66.5	64.5	68.7	62.3
Leather and Manufactures	1.9	1.9	1.8	1.5
Chemicals and Related Products	12.3	12.8	12.4	11.8
Engineering Goods	25.5	21.5	25.6	24.0
Textiles and Textile Products	10.8	11.1	11.9	10.1
Gems and Jewellery	15.1	16.2	16.0	13.9
III.Petroleum Products	14.9	15.7	11.5	16.4
IV.Others	4.9	5.0	5.6	8.5
Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Destination-wise, during the first quarter of 2010-11, developing countries and OECD countries accounted for 41.6 per cent and 33.6 per cent of India’s total exports, respectively, followed by OPEC with a share of 20.6 per cent (Table 3). During the period, the share of developing countries increased while those of OECD and OPEC declined. Country-wise, during April-June 2010, the UAE continued to be the largest importer of Indian goods with a share of 14.0 per cent, followed by the US, China, Singapore and
Hong Kong. These five countries together accounted for 41.0 per cent of India’s total exports. In terms of direction of India’s exports during April-June 2010 the exports to all major destinations, such as the EU, OPEC and developing countries registered a growth (Statement 4).

Table 3: India’s Exports to Principal Regions
(Percentage Shares)
Region/Country	2008-09	2009-10	2009-10	2010-11
Region/Country	April-March		April-June
1	2	3	4	5
I. OECD Countries	36.9	35.9	35.8	33.6
EU	21.0	20.1	20.0	16.8
North America	12.1	11.5	11.5	11.9
US	11.3	10.9	10.8	11.4
Asia and Oceania	2.5	2.9	2.8	3.5
Other OECD Countries	1.4	1.3	1.4	1.4
II. OPEC	21.0	21.1	23.0	20.6
UAE	12.9	13.4	13.3	14.0
III. Eastern Europe	1.1	1.0	0.9	1.1
IV. Developing Countries	37.0	39.2	36.8	41.6
Asia	27.7	29.8	28.5	29.9
SAARC	4.6	4.7	4.7	4.4
Other Asian Developing Countries	23.1	25.1	23.8	25.5
of which:
People’s Republic of China	5.0	6.5	5.5	5.8
Africa	6.2	5.8	5.6	7.4
Latin America	3.1	3.6	2.7	4.3
V. Others/Unspecified	4.0	2.8	3.5	3.1
Total Exports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Imports

India’s merchandise imports during September 2010 at US$ 27.1 billion showed a growth of 26.1 per cent as against a decline of 30.9 per cent recorded in September 2009. This was primarily due to growth in non-oil imports (Statement 1). On cumulative basis, during April-September 2010, imports at US$ 166.5 billion registered a growth of 29.9 per cent, partly reflecting base effect (30.7 per cent decline a year ago) [Statement 2].

During September 2010, petroleum, oil and lubricants (POL) imports at US$ 7.5 billion registered a growth of 14.4 per cent. The POL imports at US$ 48.7 billion during April-September 2010 showed a growth of 30.0 per cent, as against a decline of 40.8 per cent a year ago, primarily due to increase in international crude oil prices over the period. The average price of Indian basket of crude oil during April-September 2010 stood at US$ 76.6 per barrel (ranging between US$ 73.5–84.1 per barrel), which was higher by 20.3 per cent than US$ 63.6 per barrel (ranging between US$ 50.1–72.0 per barrel) during April-September 2009 (Table 4). Non-POL imports during April- September 2010 at US$ 117.8 billion recorded a growth of 29.9 per cent as against a decline of 25.5 per cent in April-September 2009.

Table 4: Trends in Crude Oil Prices
(US$/barrel)
Period	Dubai	Brent	WTI*	Indian Basket**
1	2	3	4	5
2001-02	21.8	23.2	24.1	22.4
2002-03	25.9	27.6	29.2	26.6
2003-04	26.9	29.0	31.4	27.8
2004-05	36.4	42.2	45.0	39.2
2005-06	53.4	58.0	59.9	55.7
2006-07	60.9	64.4	64.7	62.4
2007-08	77.3	82.4	82.3	79.5
2008-09	82.1	84.7	85.8	82.7
2009-10	69.6	69.8	70.6	69.6
(April-September) 2009	63.5	63.8	63.9	63.6
(April-September) 2010	76.0	77.5	77.0	76.6
* West Texas Intermediate. ** The composition of Indian basket of crude represents average of Oman and ubai for sour grades and Brent (dated) for sweet grade in the ratio of 63.5 : 36.5 w.e.f. April 1, 2009. Source: International Monetary Fund, International Financial Statistics; World Bank’s Commodity Price Pink Sheet for October 2010; Ministry of Petroleum and Natural Gas, Government of India.

The commodity-wise imports data for April-June 2010 indicated that POL imports at US$ 25.8 billion showed a growth of 54.8 per cent as against a decline of 43.6 per cent a year ago, mainly due to rise in international crude oil prices over the period (Statement 5). The volume of POL imports, however, recorded a growth of 6.9 per cent as compared with a growth of 10.1 per cent during April-June 2009

Non-POL imports during first quarter of 2010-11 at US$ 54.7 billion witnessed a growth of 19.5 per cent as against a decline of 22.6 per cent during the corresponding period of 2009-10.

The overall growth in non-POL imports 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), iron and steel, metalliferrous ores, metal scrap, etc., nonferrous metals and project goods. In contrast, imports of capital goods and gold and silver witnessed a decline during the period (Statement 5). During April-June 2010, the shares of petroleum, crude and products, metalliferrous ores, metal scrap, etc., iron and steel and pearls, precious and semi-precious stones in total imports increased, while those of capital goods, gold and silver, coal, coke and briquettes and fertilisers decreased (Table 5)

Table 5: Imports of Principal Commodities
(Percentage Shares)
Commodity/Group	2008-09	2009-10	2009-10	2010-11
Commodity/Group	April-March		April-June
1	2	3	4	5
1. Petroleum, Crude and Products	30.8	30.4	26.7	32.0
2. Capital Goods	23.7	22.7	25.4	18.4
3. Gold and Silver	7.5	10.1	9.6	6.8
4. Organic and Inorganic Chemicals	4.0	4.1	4.8	4.7
5. Coal, Coke and Briquettes, etc.	3.3	3.1	3.8	3.5
6. Fertilisers	4.5	2.3	2.7	2.3
7. Metalliferrous Ores, Metal Scrap, etc.	2.6	2.7	2.7	3.1
8. Iron and Steel	3.1	2.9	2.9	3.8
9. Pearls, Precious and Semi-Precious Stones	5.5	5.6	4.6	8.4
10. Others	15.0	16.1	16.8	17.0
Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Table 6: Shares of Groups/Countries in India’s Imports
(Percentage Shares)
Region/Country	2008-09	2009-10	2009-10	2010-11
Region/Country	April-March		April-June
1	2	3	4	5
I. OECD Countries	31.7	32.6	34.7	28.8
EU	13.9	13.3	14.0	12.1
France	1.5	1.5	1.7	0.8
Germany	3.9	3.6	3.7	3.2
UK	1.9	1.5	1.7	1.4
North America	6.9	6.6	7.3	6.0
US	6.1	5.9	6.6	5.4
Asia and Oceania	6.3	6.8	7.8	6.4
Other OECD Countries	4.6	5.8	5.6	4.2
II. OPEC	32.1	32.1	28.4	34.1
UAE	7.6	6.7	5.5	7.9
III. Eastern Europe	2.2	2.1	2.4	2.3
IV. Developing Countries	31.9	32.4	33.7	34.5
Asia	25.9	25.6	27.0	27.0
SAARC	0.6	0.6	0.6	0.5
Other Asian Developing Countries	25.3	25.0	26.4	26.5
of which:
People’s Republic of China	10.6	10.7	11.8	11.6
Africa	4.1	4.3	4.6	3.9
Latin America	1.9	2.6	2.0	3.6
V. Others/Unspecified	2.1	0.8	0.8	0.3
Total Imports	100.0	100.0	100.0	100.0
Source: Compiled from DGCI&S data.

Source-wise, during April-June 2010, developing countries had a share of 34.5 per cent in India’s total imports, followed by OPEC
and OECD (Table 6). The shares of developing countries and OPEC countries increased, while that of OECD declined during the period. Country-wise, China continued to be the largest source of imports with the share of 11.6 per cent in total imports, followed by the UAE, Saudi Arabia, the US, and Australia. These five countries together constituted around 34.9 per cent of India’s imports.

Trade Deficit

With relative slowdown in exports vis-à-vis imports, the trade deficit widened to US$ 9.1 billion during September 2010 as against a deficit of US$ 6.9 billion in September 2009 (Statement 1). Trade deficit during April-September 2010 amounted to US$ 62.8 billion, which was higher by US$ 15.6 billion (33.2 per cent) than US$ 47.2 billion during April-September 2009 due to relatively larger increase in imports than exports during the period (Statement 2).

During April-June 2010, trade deficit on oil account stood at US$ 17.2 billion, which was higher by US$ 5.0 billion than US$ 12.2 billion a year ago. In contrast, trade deficit on non-oil account during this period amounted to US$ 10.8 billion, which was lower by US$ 1.0 billion than US$ 11.8 billion in April-June 2010.

Global Trade

According to the latest monthly data available from International Monetary Fund’s (IMF) International Financial Statistics (IFS), world merchandise exports after declining for a year witnessed a turnaround in November 2009 and thereafter followed a continuous rising trend till March 2010. The growth in exports of world economy and of advanced economies, however, slowed down during April-September 2010. However, it could be observed that India’s exports performance has been better than the overall global trends (Chart 2 and Table 7).

Table 7: Growth in Exports – Global Scenario
(Per cent)
Region/Country	2008	2009	2009	2010
Region/Country	January-December		January-September
1	2	3	4	5
World	16.0	-22.8	-28.5	21.6
Advanced Economies	11.2	-21.7	-28.2	19.3
US	11.9	-18.8	-23.1	22.1
France	10.5	-22.0	-28.1	8.5
Germany	9.6	-22.3	-29.5	14.3
Japan	12.3	-26.1	-33.0	38.2
Emerging and Developing Economies	25.2	-24.5	-29.2	25.6*
Singapore	13.0	-20.2	-28.5	33.7
China	17.3	-15.9	-21.2	35.5*
India	29.7	-15.4	-24.0	29.7
Indonesia	18.3	-14.4	-23.9	33.4
Korea	13.6	-14.3	-21.1	30.5
Malaysia	19.1	-24.9	-29.5	33.4*
Thailand	12.9	-12.0	-21.1	31.7
* January-August over corresponding period of previous year. Sources: 1. IMF (www.imfstatistics.org). 2. DGCI&S for India.

The geographical diversification towards developing economies, which are growing at a faster rate than the developed world, could
partly aid the resilience of exports in the aftermath of financial crisis. Exports to ‘Other Asian Developing Economies’, ‘African’ and ‘Latin American’ economies grew at a relatively faster rate and together accounted for a larger share of 37.3 per cent in India’s total export during the first quarter of 2010-11 as compared to 32.1 per cent in the same quarter last year.

World Commodity Prices

According to International Financial Statistics, the world commodity prices increased in the range of 10-20 per cent since June 2010. In September 2010, the world prices rose by 17.4 per cent over September 2009. The metal prices showed the highest rise of 32.9 per cent during the month, followed by food (18.1 per cent) and energy (13.9 per cent) (Chart 3).

Outlook

As per the trends available so far there is likelihood of exports attaining the target of US$ 200 billion set for 2010-11 by the Government and as reiterated by the Commerce Secretary, Ministry of Commerce recently. Further, it was stated in the ‘Foreign
Trade Policy (FTP) 2009-14’, released by the Ministry of Commerce and Industry that during 2011-12 to 2013-14, India should be
able to come back on the high export growth path of around 25 per cent per annum. Productivity improvement in the export sector and greater diversification towards developing world, which is growing at a faster pace than the advanced economies, could help in the sustainable growth in exports.

Statement 1: India’s Foreign Trade – September 2010
Year	Exports			Imports			Trade Balance
Year	Total	Oil	Non-Oil	Total	Oil	Non-Oil	Total	Oil	Non-Oil
1	2	3	4	5	6	7	8	9	10
Rupees crore
2008-09	71,941	11,635	60,306	1,41,865	43,483	98,382	-69,925	-31,848	-38,077
	(42.4)	(37.3)	(43.5)	(93.0)	(86.1)	(96.3)
2009-10 R	70,838	11,655	59,183	1,04,275	31,707	72,568	-33,437	-20,052	-13,385
	(-1.5)	(0.2)	(-1.9)	(-26.5)	(-27.1)	(-26.2)
2010-11 P	83,018	..	..	1,25,018	34,500	90,518	-42,000	..	..
	(17.2)			(19.9)	(8.8)	(24.7)
US dollar million
2008-09	15,789	2,554	13,236	31,136	9,543	21,592	-15,347	-6,990	-8,357
	(26.1)	(21.5)	(27.0)	(70.9)	(64.8)	(73.8)
2009-10 R	14,624	2,406	12,218	21,527	6,546	14,981	-6,903	-4,140	-2,763
	(-7.4)	(-5.8)	(-7.7)	(-30.9)	(-31.4)	(-30.6)
2010-11 P	18,023	..	..	27,141	7,490	19,652	-9,118	..	..
	(23.2)			(26.1)	(14.4)	(31.2)
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	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
2007-08	6,55,864	1,14,192	5,41,672	10,12,312	3,20,655	6,91,657	-3,56,448	-2,06,463	-1,49,985
	(14.7)	(35.1)	(11.2)	(20.4)	(24.0)	(18.9)
2008-09 R	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 P	8,45,125	1,32,616	7,12,509	13,56,469	4,11,579	9,44,890	-5,11,343	-2,78,963	-2,32,381
	(0.5)	(7.5)	(-0.7)	(-1.3)	(-2.0)	(-1.0)
US dollar million
2007-08	1,62,904	28,363	1,34,541	2,51,439	79,645	1,71,795	-88,535	-51,281	-37,254
	(28.9)	(52.2)	(24.8)	(35.4)	(39.9)	(33.4)
2008-09 R	1,85,295	27,547	1,57,748	3,03,696	93,672	2,10,025	-1,18,401	-66,125	-52,277
	(13.7)	(-2.9)	(17.2)	(20.8)	(17.6)	(22.3)
2009-10 P	1,78,662	28,131	1,50,531	2,86,823	87,121	1,99,702	-1,08,161	-58,990	-49,171
	(-3.6)	(2.1)	(-4.6)	(-5.6)	(-7.0)	(-4.9)
April-September Rupees crore
2008-09	4,64,450	79,926	3,84,525	7,90,616	2,70,534	5,20,082	-3,26,166	-1,90,608	-1,35,558
	(54.5)	(53.9)	(54.6)	(62.2)	(91.0)	(50.5)
2009-10 R	3,93,262	52,268	3,40,994	6,22,295	1,81,833	4,40,462	-2,29,033	-1,29,565	-99,468
	(-15.3)	(-34.6)	(-11.3)	(-21.3)	(-32.8)	(-15.3)
2010-11 P	4,77,402	..	..	7,66,857	2,24,081	5,42,776	-2,89,455	..	..
	(21.4)			(23.2)	(23.2)	(23.2)
US dollar million
2008-09	1,08,907	18,721	90,185	1,84,996	63,285	1,21,711	-76,089	-44,563	-31,525
	(48.1)	(47.4)	(48.2)	(55.1)	(83.0)	(43.8)
2009-10 R	80,950	10,759	70,191	1,28,131	37,475	90,656	-47,181	-26,716	-20,465
	(-25.7)	(-42.5)	(-22.2)	(-30.7)	(-40.8)	(-25.5)
2010-11 P	1,03,647	..	..	1,66,478	48,715	1,17,763	-62,831	..	..
	(28.0)			(29.9)	(30.0)	(29.9)
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 rate. Source: DGCI&S.

Statement 3: India’s Exports of Principal Commodities
(US$ million)
Commodity/Group		April-June			Percentage Variation
Commodity/Group		2008-09	2009-10 R	2010-11 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	Primary Products	8,196.2	5,450.3	6,736.2	-33.5	23.6
		(14.6)	(14.2)	(12.8)
	A. Agricultural & Allied Products	5,744.0	3,901.3	3,896.2	-32.1	-0.1
	of which :	(10.2)	(10.2)	(7.4)
	1. Tea	115.2	87.4	103.3	-24.1	18.2
	2. Coffee	162.4	108.8	149.2	-33.0	37.1
	3. Rice	816.3	837.5	471.6	2.6	-43.7
	4. Wheat	0.0	0.0	0.0	–	–
	5. Cotton Raw incl. Waste	356.5	224.9	221.0	-36.9	-1.7
	6. Tobacco	174.5	212.9	204.2	22.0	-4.1
	7. Cashew incl. CNSL	191.0	136.2	145.3	-28.7	6.7
	8. Spices	422.2	268.4	384.3	-36.4	43.1
	9. Oil Meal	646.8	319.1	319.2	-50.7	0.0
	10. Marine Products	327.0	353.9	371.1	8.2	4.9
	11. Sugar & Molasses	582.7	7.3	11.1	-98.7	51.4
	B. Ores & Minerals	2,452.1	1,549.1	2,840.0	-36.8	83.3
	of which :	(4.4)	(4.0)	(5.4)
	1. Iron Ore	1,507.7	956.3	2,136.1	-36.6	123.4
	2. Processed Minerals	416.8	284.0	322.2	-31.9	13.5
II.	Manufactured Goods	36,027.0	26,368.8	32,754.2	-26.8	24.2
	of which :	(64.0)	(68.7)	(62.3)
	A. Leather & Manufactures	946.4	688.7	813.5	-27.2	18.1
	B. Chemicals & Related Products	6,128.4	4,761.3	6,217.4	-22.3	30.6
	1. Basic Chemicals, Pharmaceuticals & Cosmetics	4,143.4	3,304.2	4,201.6	-20.3	27.2
	2. Plastic & Linoleum	890.0	668.2	982.7	-24.9	47.1
	3. Rubber, Glass, Paints & Enamels, etc.	785.6	585.6	765.3	-25.5	30.7
	4. Residual Chemicals & Allied Products	309.4	203.4	267.8	-34.3	31.6
	C. Engineering Goods	13,822.7	9,821.0	12,602.6	-28.9	28.3
	of which :
	1. Manufactures of Metals	1,899.6	1,459.3	1,657.6	-23.2	13.6
	2. Machinery & Instruments	2,963.3	2,115.5	2,362.8	-28.6	11.7
	3. Transport Equipments	3,820.0	3,571.4	5,693.9	-6.5	59.4
	4. Iron & Steel	1,797.4	558.2	871.9	-68.9	56.2
	5. Electronic Goods	1,668.6	1,417.5	929.0	-15.0	-34.5
	D. Textiles and Textile Products	5,565.1	4,555.6	5,303.7	-18.1	16.4
	1. Cotton Yarn, Fabrics, Made-ups, etc.	1,215.6	684.9	1,273.6	-43.7	86.0
	2. Natural Silk Yarn, Fabrics Made-ups, etc. (incl.silk waste)	100.9	68.0	68.8	-32.7	1.3
	3. Manmade Yarn, Fabrics, Made-ups, etc.	879.9	775.7	899.5	-11.8	16.0
	4. Manmade Staple Fibre	77.6	64.2	95.6	-17.3	49.0
	5. Woollen Yarn, Fabrics, Made-ups, etc.	29.2	20.9	21.4	-28.5	2.7
	6. Readymade Garments	2,878.4	2,712.8	2,586.2	-5.8	-4.7
	7. Jute & Jute Manufactures	86.9	50.5	110.8	-41.9	119.6
	8. Coir & Coir Manufactures	38.5	33.9	37.1	-12.0	9.3
	9. Carpets	258.0	144.8	210.7	-43.9	45.5
	(a) Carpet Handmade	256.1	142.6	210.1	-44.3	47.3
	(b) Carpet Millmade	0.0	0.0	0.0	–	–
	(c) Silk Carpets	1.8	2.2	0.6	18.1	-74.2
	E. Gems & Jewellery	9,106.5	6,158.2	7,307.1	-32.4	18.7
	F. Handicrafts	74.5	47.5	31.2	-36.3	-34.3
III.	Petroleum Products	9,159.2	4,434.5	8,593.4	-51.6	93.8
		(16.3)	(11.5)	(16.4)	-29.0	41.6
IV.	Others	2,945.5	2,144.8	4,453.6	-27.2	107.6
		(5.2)	(5.6)	(8.5)
	Total Exports	56,327.9	38,398.4	52,537.4	-31.8	36.8
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-June			Percentage Variation
Group/Country		2008-09	2009-10 R	2010-11 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	OECD Countries	19,592.4	13,764.9	17,672.0	-29.7	28.4
	A. EU	11,534.0	7,689.0	8,836.6	-33.3	14.9
	of which:
	1. Belgium	1,336.6	778.0	1,056.8	-41.8	35.8
	2. France	908.6	706.4	947.9	-22.2	34.2
	3. Germany	1,792.2	1,238.4	1,312.4	-30.9	6.0
	4. Italy	1,158.5	743.6	865.9	-35.8	16.4
	5. Netherlands	1,887.9	1,295.8	1,480.7	-31.4	14.3
	6. UK	2,014.3	1,390.7	1,482.9	-31.0	6.6
	B. North America	5,946.3	4,429.7	6,272.4	-25.5	41.6
	1. Canada	360.5	267.4	268.4	-25.8	0.4
	2. USA	5,585.8	4,162.3	6,004.0	-25.5	44.2
	C. Asia and Oceania	1,230.0	1,090.0	1,818.7	-11.4	66.9
	of which:
	1. Australia	367.2	251.3	313.4	-31.6	24.7
	2. Japan	811.9	788.7	1,466.1	-2.9	85.9
	D. Other OECD Countries	882.0	556.2	744.2	-36.9	33.8
	of which:
	1. Switzerland	218.7	126.5	145.6	-42.2	15.1
II.	OPEC	12,397.0	8,823.2	10,831.8	-28.8	22.8
	of which:
	1. Indonesia	789.2	974.4	814.0	23.5	-16.5
	2. Iran	639.9	590.3	344.5	-7.8	-41.6
	3. Iraq	134.8	101.6	114.8	-24.6	13.0
	4. Kuwait	237.4	199.8	170.8	-15.8	-14.5
	5. Saudi Arabia	1,553.7	961.4	1,173.4	-38.1	22.1
	6. U A E	8,097.4	5,112.7	7,366.7	-36.9	44.1
III.	Eastern Europe	610.8	356.9	575.3	-41.6	61.2
	of which:
	1. Russia	358.6	188.7	366.7	-47.4	94.3
IV.	Developing Countries	21,754.0	14,135.7	21,875.7	-35.0	54.8
	of which:
	A. Asia	16,349.0	10,941.0	15,714.2	-33.1	43.6
	a) SAARC	2,658.4	1,792.1	2,300.9	-32.6	28.4
	1. Afghanistan	85.4	102.3	71.6	19.8	-30.0
	2. Bangladesh	813.7	449.1	665.3	-44.8	48.1
	3. Bhutan	30.5	22.0	41.3	-27.8	87.3
	4. Maldives	28.8	18.7	24.1	-35.3	29.0
	5. Nepal	447.5	386.6	418.1	-13.6	8.2
	6. Pakistan	460.0	406.5	415.8	-11.6	2.3
	7. Sri Lanka	792.4	407.0	664.8	-48.6	63.3
	b) Other Asian Developing Countries	13,690.6	9,148.9	13,413.3	-33.2	46.6
	of which:
	1. People’s Republic of China	2,872.3	2,099.2	3,059.9	-26.9	45.8
	2. Hong Kong	1,777.4	1,428.0	2,278.4	-19.7	59.6
	3. South Korea	978.3	548.1	745.7	-44.0	36.1
	4. Malaysia	829.2	694.7	1,273.2	-16.2	83.3
	5. Singapore	3,523.3	2,185.8	2,806.5	-38.0	28.4
	6. Thailand	592.9	297.0	426.7	-49.9	43.7
	B. Africa	3,836.8	2,159.8	3,883.8	-43.7	79.8
	of which:
	1. Benin	52.5	39.5	62.6	-24.8	58.4
	2. Egypt Arab Republic	704.6	272.7	443.8	-61.3	62.7
	3. Kenya	415.0	404.1	554.9	-2.6	37.3
	4. South Africa	636.7	337.1	1,543.2	-47.0	357.8
	5. Sudan	132.8	102.4	125.3	-22.9	22.3
	6. Tanzania	346.1	194.8	181.5	-43.7	-6.8
	7. Zambia	28.7	17.7	21.0	-38.5	19.0
	C. Latin American Countries	1,568.2	1,034.9	2,277.7	-34.0	120.1
V.	Others	113.7	202.8	20.1	78.3	-90.1
VI.	Unspecified	1,860.1	1,114.9	1,562.6	-40.1	40.2
Total Exports		56,327.9	38,398.4	52,537.4	-31.8	36.8
P: Provisional. R: Revised. Source: DGCI&S.

Statement 5: India’s Imports of Principal Commodities
(US$ million)
Commodity/Group		April-June			Percentage Variation
Commodity/Group		2008-09	2009-10 R	2010-11 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	Bulk Imports	42,208.6	25,069.9	37,540.7	-40.6	49.7
		(47.6)	(40.2)	(46.6)
	A. Petroleum, Petroleum Products	29,545.3	16,649.1	25,765.3	-43.6	54.8
	& Related Material	(33.3)	(26.7)	(32.0)
	B. Bulk Consumption Goods	917.0	1,760.5	1,968.4	92.0	11.8
	1. Wheat	0.0	0.0	13.1	–	–
	2. Cereals & Cereal Preparations	9.5	9.8	11.7	3.0	19.0
	3. Edible Oil	614.0	1,225.8	1,328.8	99.6	8.4
	4. Pulses	293.1	386.9	320.3	32.0	-17.2
	5. Sugar	0.4	138.1	294.5	–	–
	C. Other Bulk Items	11,746.2	6,660.2	9,807.1	-43.3	47.2
	1. Fertilisers	2,573.3	1,715.0	1,846.2	-33.4	7.6
	a) Crude	200.0	214.3	163.7	7.2	-23.6
	b) Sulphur & Unroasted Iron Pyrites	167.3	27.6	65.6	-83.5	137.3
	c) Manufactured	2,206.1	1,473.1	1,616.9	-33.2	9.8
	2. Non-Ferrous Metals	3,363.8	691.0	1,251.6	-79.5	81.1
	3. Paper, Paperboard & Mgfd. incl. Newsprint	461.3	317.7	463.0	-31.1	45.7
	4. Crude Rubber, incl. Synthetic & Reclaimed	283.2	210.7	405.7	-25.6	92.5
	5. Pulp & Waste Paper	232.8	196.2	297.5	-15.7	51.6
	6. Metalliferrous Ores & Metal Scrap	2,394.0	1,707.5	2,492.1	-28.7	46.0
	7. Iron & Steel	2,437.7	1,822.1	3,050.9	-25.3	67.4
II.	Non-Bulk Imports	46,502.5	37,362.2	42,946.5	-19.7	14.9
		(52.4)	(59.8)	(53.4)
A.	Capital Goods	19,810.8	15,866.9	14,788.8	-19.9	-6.8
	1. Manufactures of Metals	900.3	552.2	643.6	-38.7	16.5
	2. Machine Tools	746.9	410.8	443.9	-45.0	8.0
	3. Machinery except Electrical & Electronics	6,587.4	4,934.7	5,207.0	-25.1	5.5
	4. Electrical Machinery except Electronics	1,122.9	721.8	730.5	-35.7	1.2
	5. Electronic Goods incl. Computer Software	6,741.4	5,628.2	4,498.5	-16.5	-20.1
	6. Transport Equipments	2,942.9	2,467.4	1,550.5	-16.2	-37.2
	7. Project Goods	769.1	1,151.6	1,714.9	49.7	48.9
B.	Mainly Export Related Items	10,148.8	6,661.0	11,484.8	-34.4	72.4
	1. Pearls, Precious & Semi-Precious Stones	5,681.9	2,895.9	6,755.4	-49.0	133.3
	2. Chemicals, Organic & Inorganic	3,584.4	2,977.5	3,786.9	-16.9	27.2
	3. Textile Yarn, Fabric, etc.	714.5	606.6	748.4	-15.1	23.4
	4. Cashew Nuts, raw	168.0	181.1	194.1	7.8	7.2
C.	Others	16,542.9	14,834.3	16,672.9	-10.3	12.4
	of which:
	1. Gold & Silver	6,522.0	6,001.1	5,479.0	-8.0	-8.7
	2. Artificial Resins & Plastic Materials	1,097.0	1,274.1	1,756.4	16.2	37.8
	3. Professional Instruments etc. except electrical	1,174.7	973.4	938.2	-17.1	-3.6
	4. Coal, Coke & Briquettes etc.	2,704.9	2,341.7	2,833.6	-13.4	21.0
	5. Medicinal & Pharmaceutical Products	508.8	485.3	576.8	-4.6	18.9
	6. Chemical Materials & Products	588.4	513.6	752.4	-12.7	46.5
	7. Non-Metallic Mineral Manufactures	327.3	245.7	318.2	-24.9	29.5
Total Imports		88,711.1	62,432.1	80,487.2	-29.6	28.9
	Memo Items
	Non-Oil Imports	59,165.8	45,783.0	54,721.9	-22.6	19.5
	Non-Oil Imports excl. Gold & Silver	52,643.8	39,781.9	49,242.9	-24.4	23.8
	Mainly Industrial Inputs*	48,345.9	35,574.9	44,719.5	-26.4	25.7
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-June			Percentage Variation
Group/Country		2008-09	2009-10 R	2010-11 P	(3)/(2)	(4)/(3)
1		2	3	4	5	6
I.	OECD Countries	27,675.5	21,693.5	23,161.1	-21.6	6.8
	A. EU	12,330.1	8,758.2	9,768.2	-29.0	11.5
	of which:
	1. Belgium	1,973.5	1,383.2	2,294.6	-29.9	65.9
	2. France	1,128.0	1,033.5	655.4	-8.4	-36.6
	3. Germany	3,290.7	2,282.7	2,601.5	-30.6	14.0
	4. Italy	1,550.8	820.9	954.5	-47.1	16.3
	5. Netherlands	607.4	469.4	347.8	-22.7	-25.9
	6. UK	1,602.8	1,074.9	1,103.3	-32.9	2.6
	B. North America	5,272.5	4,568.2	4,819.4	-13.4	5.5
	1. Canada	608.7	426.9	457.4	-29.9	7.1
	2. USA	4,663.8	4,141.2	4,362.0	-11.2	5.3
	C. Asia and Oceania	5,248.4	4,888.7	5,185.9	-6.9	6.1
	of which:
	1. Australia	2,778.2	3,186.6	3,178.6	14.7	-0.3
	2. Japan	2,369.6	1,582.4	1,792.9	-33.2	13.3
	D. Other OECD Countries	4,824.5	3,478.5	3,387.6	-27.9	-2.6
	of which:
	1. Switzerland	3,888.3	2,586.3	3,016.7	-33.5	16.6
II.	OPEC	31,130.0	17,730.2	27,436.1	-43.0	54.7
	of which:
	1. Indonesia	1,483.1	2,173.6	2,236.5	46.6	2.9
	2. Iran	3,133.9	2,642.4	2,731.9	-15.7	3.4
	3. Iraq	2,602.2	1,428.8	1,550.1	-45.1	8.5
	4. Kuwait	2,927.9	1,888.9	2,416.7	-35.5	27.9
	5. Saudi Arabia	5,483.2	3,430.3	4,869.9	-37.4	42.0
	6. UAE	10,149.4	3,447.9	6,357.5	-66.0	84.4
III.	Eastern Europe	1,389.8	1,495.3	1,885.8	7.6	26.1
	of which:
	1. Russia	864.4	872.5	1,138.6	0.9	30.5
IV.	Developing Countries	27,998.8	21,010.5	27,762.1	-25.0	32.1
	of which:
	A. Asia	23,030.7	16,833.3	21,716.7	-26.9	29.0
	a) SAARC	464.1	367.9	416.5	-20.7	13.2
	1. Afghanistan	15.3	20.6	11.1	34.4	-45.9
	2. Bangladesh	80.9	55.6	59.5	-31.3	7.1
	3. Bhutan	56.8	30.6	36.8	-46.2	20.5
	4. Maldives	1.2	0.6	0.9	-50.2	49.4
	5. Nepal	147.5	116.3	115.5	-21.2	-0.7
	6. Pakistan	58.9	58.4	95.6	-0.8	63.7
	7. Sri Lanka	103.5	86.0	97.1	-16.9	13.0
	b) Other Asian Developing Countries	22,566.6	16,465.3	21,300.2	-27.0	29.4
	of which:
	1. People’s Republic of China	9,662.7	7,396.6	9,359.9	-23.5	26.5
	2. Hong Kong	1,507.5	964.8	1,645.3	-36.0	70.5
	3. South Korea	2,104.6	1,827.4	2,323.9	-13.2	27.2
	4. Malaysia	1,940.8	1,143.8	1,322.4	-41.1	15.6
	5. Singapore	2,552.3	1,807.7	1,743.3	-29.2	-3.6
	6. Thailand	709.0	706.9	928.1	-0.3	31.3
	B. Africa	3,541.5	2,899.0	3,119.9	-18.1	7.6
	of which:
	1. Benin	64.7	85.5	78.6	32.1	-8.1
	2. Egypt Arab Republic	465.7	510.7	350.9	9.6	-31.3
	3. Kenya	24.0	26.6	23.1	10.7	-13.1
	4. South Africa	1,473.6	1,383.0	1,414.4	-6.1	2.3
	5. Sudan	123.8	89.7	61.3	-27.6	-31.6
	6. Tanzania	11.3	54.2	47.0	381.1	-13.3
	7. Zambia	28.1	20.1	7.8	-28.6	-61.3
	C. Latin American Countries	1,426.6	1,278.2	2,925.4	-10.4	128.9
V.	Others	66.7	128.4	61.0	92.5	-52.5
VI.	Unspecified	450.3	374.2	181.2	-16.9	-51.6
Total Imports		88,711.1	62,432.1	80,487.2	-29.6	28.9
P: Provisional. R: Revised. Source: DGCI&S.

* Prepared in the Division of International Trade and Finance, Department of Economic and Policy Research. The previous edition of the article was published in the Reserve Bank Bulletin, September 2010.