Published: 01:16 PM, 04 November 2020
Janomot report: India's exports declined 5.4 percent to 24.82 billion U.S. dollars in October due to fall in shipments of sectors like petroleum products, gems and jewellery, and leather, according to data released by the government on Tuesday.
Meanwhile, exports during April-October were 150.07 billion U.S. dollars, exhibiting a decline of 19.05 percent over the same period last year, said a statement issued by the federal ministry of commerce and industry.
The value of India’s merchandise imports in October 2020 was 33.6 billion U.S. dollars, as compared to 37.99 billion U.S. dollars in October 2019, a decline of 11.56 percent. Merchandise imports during April-October 2020-21 were 182.29 billion U.S. dollars, as compared to 286.07 billion U.S. dollars during the same period last year, exhibiting a negative growth of 36.28 percent, it said.
The ministry said India was thus a net importer in October 2020, with a trade deficit of 8.78 billion U.S. dollars, as compared to trade deficit of 11.76 billion U.S. dollars, an improvement by 25.34 percent.In October 2020, the value of non-petroleum exports was 23.21 billion U.S. dollars, registering a positive growth of 1.84 percent over October 2019.