India's Dec exports rise over 37% YoY, imports over 38%

India's merchandise exports in December 2021 rose to $37.29 billion, higher by 37 per cent on a year-on-year basis, preliminary data showed on Monday.

Exports in December 2020 stood at $27.22 billion. According to the data furnished by the Commerce and Industry Ministry, last month's exports rose by 37.55 per cent over December 2019.

"Value of non-petroleum exports in December 2021 was $31.67 billion, registering a positive growth of 27.31 per cent over non-petroleum exports of $24.88 billion in December 2020 and a positive growth of 34.92 per cent over non-petroleum exports of $23.48 billion in December 2019."

The value of non-petroleum and non-gems and jewellery exports rose to $28.69 billion, registering a positive growth of 28.64 per cent over December 2020. As per the data, India's merchandise imports last month increased by 38.06 per cent to $59.27 billion over $42.93 billion in December 2020, a rise of 49.70 per cent over $39.59 billion reported for the corresponding month of 2019.

"Value of non-petroleum imports was $43.37 billion in December 2021 with a positive growth of 30.22 per cent over non-petroleum imports of $33.31 billion in December 2020 and a positive growth of 50.20 per cent over non-petroleum imports of $28.88 billion in December 2019.

"Value of non-oil, non-GJ (gold, silver and precious metals) imports was $35.57 billion in December 2021 with a positive growth of 34.68 per cent over non-oil and non-GJ imports of $26.41 billion in December 2020 and a positive growth of 47.75 per cent over non-oil and non-GJ imports of $24.07 billion in December 2019."

Consequently, India's trade deficit last month widened by 39.90 per cent YoY to $21.99 billion from $15.72 billion while it increased by 76.10 per cent when compared to $12.49 billion reported for December 2019.