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India's Exports Jump To $30.63 Billion In April Despite Lockdowns

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In April 2021, India's export performance remained impressive, with merchandise exports increasing by 195.72 percent over April 2020 levels and 17.62 percent over April 2019 levels.

 

Imports increased to $45.72 billion last month, up from $17.12 billion in April 2020, according to the data. The trade deficit increased to $15.10 billion in April 2020, up from $6.76 billion in April 2019.

The economic recovery is also evident in rising import growth of 167.05 percent and 7.87 percent in April 2021, respectively, compared to the same period in 2020-21 and 2019-20, according to the data.

India's Exports Jump To $30.63 Billion In April Despite Lockdowns

Merchandise exports increased 195.7 percent to $30.63 billion in April, according to data released by the commerce ministry on Friday, while merchandise imports increased 167 percent to $45.7 billion.

In the same period last year as the country was locked under national lockdown to control the spread of coronavirus it experienced a strong increase in exports and imports in April due to low base trade volumes.

In the same month last year, oil imports stood at $10.8 billion, compared with $4.66 billion.

In April, major export commodities that have shown positive development include jewellery and jewellery, jute, carpet, crafts, leather, electronic goods, fuel food, cashew, petroleum, marine and chemical products.

 

Sectors like leather and leather products, man-made yarn, fabrics, or manufacturing products have started to recover in March 2021 as well as the marine products which have shown negative growth throughout the pandemic period (2020-2021).

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Read more about: exports imports
Story first published: Friday, May 14, 2021, 21:00 [IST]
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