Union Minister of Commerce and Industry Piyush Goyal on Monday informed that India achieved the highest ever exports of $37 billion in December 2021, which is a 37% jump from exports worth $27 billion in December 2020. He also stated that India is on track to achieve an export target of $400 billion. The exports stood at USD 299.74 billion during the period April-December 2021.
"India has achieved the highest ever exports of $37 billion in December 2021, a 37% jump over December 2020. We are on track to achieve an export target of $400 billion. The top 10 major commodity groups constituting 80% of exports have grown by 41% over last December," Goyal said.
As per the data shared by the Commerce Ministry, India's merchandise import in April-December 2021 was USD 443.71 billion, an 69.27% increase from April-December 2020 and a 21.84% increase from April-December 2019. "The trade deficit in December 2021 was USD 21.99 billion, while it was 143.97 billion USD during April-December 2021," Centre informed.
"India is a land of opportunity, and we are fulfilling every possibility. PM Narendra Modi has built a good relationship with other countries, this results in a good economy," the Union Minister said.
The value of non-petroleum exports in December 2021 was 31.67 USD billion, which is a 27.31% positive growth from December 2020. Similarly, the value of imports of non-petroleum imports stood at USD 43.37 billion in December 2021.
"The cumulative value of non-petroleum and non-gems and jewellery exports in April-December 2021 was USD 228.25 billion, an increase of 36.66% over the cumulative value of non-petroleum and non-gems and jewellery exports of USD 167.02 billion in April-December 2020 and an increase of 28.12% over the cumulative value of non-petroleum and non-gems and jewellery exports of USD 178.15 billion in April-December 2019," the government said.
The top 10 major commodity groups covering 79% of total exports and showing positive growths in December 2021 include engineering goods, petroleum products, gems and jewellery, organic and inorganic chemicals, drugs and pharmaceuticals, electronic goods, RMG of all textiles, Cotton Yarn/Fabs./Madeups, Handloom products etc., plastic and linoleum and rice.
Meanwhile, some of the top imported commodities are petroleum, crude and products, electronic goods, gold, machinery, electrical and non-electrical, organic and inorganic chemicals, pearls, precious and semi-precious stones among others.