Consistent Export Growth: 4.69% CAGR Over 7 Years
India's exports under HSN Chapter 31 have grown at a compound annual rate of 4.69% over 7 fiscal years, rising from ₹1,038.16 Crore in FY 2018-19 to ₹1,366.57 Crore in FY 2024-25.
31 HSN Code: Fertilisers
HSN Chapter 31 represents Fertilisers under GST classification. This code helps businesses identify Fertilisers correctly for billing, taxation, and trade purposes. With HSN Chapter 31, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Fertilisers.
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Sub-chapters under HSN Chapter 31
Following Sub Chapters fall under Fertilisers:
Sub Chapter
New GST Rate
Old GST Rate
Description
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Animal or vegetable fertilisers, whether or not mixed together or chemically treated; fertilisers produced by the mixing or chemical treatment of animal or vegetable products
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Mineral or chemical fertilisers, nitrogenous
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Mineral or chemical fertilisers, phosphatic
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Mineral or chemical fertilisers, potassic
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers; goods of this chapter in tablets or similar forms or in packages of a gross weight not exceeding 10 kg
India’s Trade Performance — HSN Chapter 31 in FY 2024-25
TradeStat EIDB — Ministry of Commerce & Industry
FY 2018-19–FY 2024-25
Values in ₹ Crore
India’s Exports
FY 2024-25₹1,367 Cr
+26.84%
vs FY 2023-24
0.0369% of India’s total exports
India’s Imports
FY 2024-25₹70,030 Cr
−5.22%
vs FY 2023-24
1.1484% of India’s total imports
Trade Balance
FY 2024-25−₹68,663 Cr
Trade Deficit
Surplus rank #88 of 97 chapters
At a glance
4.69%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#80
National Export Rank
of 97 chapters by export value, FY 2024-25
+67.94%
Peak Growth Year
FY 2022-23 · strongest single-year move
1.3×
Export Growth · 7Y
₹1,038.16 Cr → ₹1,366.57 Cr
India Export-Import Trade Statistics for HSN Chapter 31
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
FY 2018-19
Exp. Rank #76
Balance
−45,418.59
Exports
1,038.16 ₹ Cr
0.0450% share
— YoY
Imports
46,456.75 ₹ Cr
1.2925% share
— YoY
FY 2019-20
Exp. Rank #78
Balance
−46,559.94
Exports
836.76 ₹ Cr
0.0377% share
−19.40% YoY
Imports
47,396.70 ₹ Cr
1.4103% share
+2.02% YoY
FY 2020-21
Exp. Rank #77
Balance
−50,255.25
Exports
779.08 ₹ Cr
0.0361% share
−6.89% YoY
Imports
51,034.33 ₹ Cr
1.7503% share
+7.67% YoY
FY 2021-22
Exp. Rank #85
Balance
−94,699.24
Exports
629.59 ₹ Cr
0.0200% share
−19.19% YoY
Imports
95,328.83 ₹ Cr
2.0847% share
+86.79% YoY
FY 2022-23
Exp. Rank #81
Balance
−1,22,350.06
Exports
1,057.32 ₹ Cr
0.0292% share
+67.94% YoY
Imports
1,23,407.38 ₹ Cr
2.1463% share
+29.45% YoY
FY 2023-24
Exp. Rank #81
Balance
−72,807.13
Exports
1,077.38 ₹ Cr
0.0298% share
+1.90% YoY
Imports
73,884.51 ₹ Cr
1.3156% share
−40.13% YoY
FY 2024-25
Exp. Rank #80
Balance
−68,663.42
Exports
1,366.57 ₹ Cr
0.0369% share
+26.84% YoY
Imports
70,029.99 ₹ Cr
1.1484% share
−5.22% YoY
CAGR · 7-Year
Exports
4.69% /yr
Imports
7.08% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Chapter 31 Export-Import Analysis
HSN Chapter 31 Ranked #80 Among All 97 Chapters by Export Value
In FY 2024-25, HSN Chapter 31 ranks #80 out of 97 chapters by total export value. By trade surplus, it ranks #88 of 97.
FY 2022-23 Was the Strongest Growth Year for HSN Chapter 31 Exports
The strongest single-year export movement for HSN Chapter 31 was recorded in FY 2022-23, when exports surged by 67.94% over the prior year.
India Records a Trade Deficit of ₹68,663.42 Crore in HSN Chapter 31 Goods
In FY 2024-25, India's imports of ₹70,029.99 Cr exceeded exports of ₹1,366.57 Cr, resulting in a trade deficit of ₹68,663.42 Crore — ranking #88 of 97 by surplus magnitude.
Import Growth of 7.08% CAGR Signals Stable Import Dependency for Fertilisers
India's imports under HSN Chapter 31 have grown at 7.08% CAGR, reaching ₹70,029.99 Crore in FY 2024-25.
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Important Disclaimer
The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.