Export Decline: −1.35% CAGR Over 7 Years
India's exports under HSN Chapter 89 have declined at a compound annual rate of −1.35% over 7 fiscal years, falling from ₹39,258.94 Crore in FY 2018-19 to ₹36,176.60 Crore in FY 2024-25.
89 HSN Code: Floating Structures, Ships, Boats
HSN Chapter 89 represents Floating Structures, Ships, Boats under GST classification. This code helps businesses identify Floating Structures, Ships, Boats correctly for billing, taxation, and trade purposes. With HSN Chapter 89, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Floating Structures, Ships, Boats.
Live Demo Available Today
Experience the power of Expert Accounting
Join our guided walkthrough to see how BUSY can transform your business operations.
Trusted by 6,00,000+ Users
4.6 Google Rating
Sub-chapters under HSN Chapter 89
Following Sub Chapters fall under Floating Structures, Ships, Boats:
Sub Chapter
New GST Rate
Old GST Rate
Description
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Cruise ships, excursion boats , ferry-boats, cargo ships, barges and similar vessels for the transport of persons or goods
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Fishing vessels; factory ships and other vessels for processing or preserving fishery products
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
5
%
Description
Yachts and other vessels for pleasure or sports; rowing boats and canoes
Sub Chapter
New GST Rate
28
%
Standard
Old GST Rate
28
%
Description
Light-vessels, fire-floats, dredgers, floating cranes, and other vessels the navigability of which is subsidiary to their main function; floating docks; floating or submersible drilling or production platforms
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Other vessels, including warships and lifeboats other than rowing boats
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Other floating structures ( for example, rafts, tanks, coffer-dams, landing-stages, buoys and beacons)
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Vessels and other floating structures for breaking up
India’s Trade Performance — HSN Chapter 89 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₹36,177 Cr
+7.69%
vs FY 2023-24
0.9768% of India’s total exports
India’s Imports
FY 2024-25₹39,208 Cr
+26.10%
vs FY 2023-24
0.6430% of India’s total imports
Trade Balance
FY 2024-25−₹3,032 Cr
Trade Deficit
Surplus rank #64 of 97 chapters
At a glance
−1.35%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#23
National Export Rank
of 97 chapters by export value, FY 2024-25
+20.29%
Peak Growth Year
FY 2022-23 · strongest single-year move
0.9×
Export Growth · 7Y
₹39,258.94 Cr → ₹36,176.60 Cr
India Export-Import Trade Statistics for HSN Chapter 89
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 #17
Balance
−1,534.13
Exports
39,258.94 ₹ Cr
1.7020% share
— YoY
Imports
40,793.07 ₹ Cr
1.1349% share
— YoY
FY 2019-20
Exp. Rank #19
Balance
−8,312.21
Exports
32,123.25 ₹ Cr
1.4480% share
−18.18% YoY
Imports
40,435.46 ₹ Cr
1.2032% share
−0.88% YoY
FY 2020-21
Exp. Rank #20
Balance
+2,518.47
Exports
33,464.89 ₹ Cr
1.5505% share
+4.18% YoY
Imports
30,946.42 ₹ Cr
1.0613% share
−23.47% YoY
FY 2021-22
Exp. Rank #24
Balance
−4,595.34
Exports
26,975.95 ₹ Cr
0.8573% share
−19.39% YoY
Imports
31,571.29 ₹ Cr
0.6904% share
+2.02% YoY
FY 2022-23
Exp. Rank #23
Balance
−24,458.53
Exports
32,450.04 ₹ Cr
0.8962% share
+20.29% YoY
Imports
56,908.57 ₹ Cr
0.9898% share
+80.25% YoY
FY 2023-24
Exp. Rank #23
Balance
+2,501.71
Exports
33,594.80 ₹ Cr
0.9285% share
+3.53% YoY
Imports
31,093.09 ₹ Cr
0.5537% share
−45.36% YoY
FY 2024-25
Exp. Rank #23
Balance
−3,031.77
Exports
36,176.60 ₹ Cr
0.9768% share
+7.69% YoY
Imports
39,208.37 ₹ Cr
0.6430% share
+26.10% YoY
CAGR · 7-Year
Exports
−1.35% /yr
Imports
−0.66% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Chapter 89 Export-Import Analysis
HSN Chapter 89 Ranked #23 Among All 97 Chapters by Export Value
In FY 2024-25, HSN Chapter 89 ranks #23 out of 97 chapters by total export value. By trade surplus, it ranks #64 of 97.
FY 2022-23 Was the Strongest Growth Year for HSN Chapter 89 Exports
The strongest single-year export movement for HSN Chapter 89 was recorded in FY 2022-23, when exports surged by 20.29% over the prior year.
India Records a Trade Deficit of ₹3,031.77 Crore in HSN Chapter 89 Goods
In FY 2024-25, India's imports of ₹39,208.37 Cr exceeded exports of ₹36,176.60 Cr, resulting in a trade deficit of ₹3,031.77 Crore — ranking #64 of 97 by surplus magnitude.
Import Growth of −0.66% CAGR Signals Stable Import Dependency for Floating Structures, Ships, Boats
India's imports under HSN Chapter 89 have grown at −0.66% CAGR, reaching ₹39,208.37 Crore in FY 2024-25.
Stop worrying about
HSN & TAX compliance
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
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.