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India’s exports dip 5.4% in October

by BQ News Bureau
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India’s merchandise exports in October were USD 24.82 billion, as compared to USD 26.23 billion in October 2019, showing a fall of 5.4%. Exports during April-October 2020-21 were USD 150.07 billion, exhibiting a decline of 19.05% over the same period last year.

The value of India’s merchandise imports in October 2020 was USD 33.6 billion, as compared to USD 37.99 billion in October 2019, a decline of 11.56%. Merchandise imports during April-October 2020-21 were USD 182.29 billion, as compared to USD 286.07 billion during the same period last year, exhibiting a negative growth of 36.28%.

India was thus a net importer in October 2020, with a trade deficit of USD 8.78 billion, as compared to a trade deficit of USD 11.76 billion, an improvement by 25.34%.

In October 2020, the value of non-petroleum exports was USD 23.21 billion, registering a positive growth of 1.84% over October 2019. The value of non-petroleum and non-gems and jewellery exports in October 2020 was USD 20.28 billion, as compared to USD 19.07 billion in October 2019, registering a positive growth of 6.34%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-October 2020-21 was USD 124.79 billion, as compared to USD 137.72 billion for the corresponding period in 2019-20, exhibiting a decrease of 9.39%.

In October 2020, oil imports were USD 5.98 billion, as compared to USD 9.73 billion in October 2019, a decline of 38.52%. Oil imports in April-October 2020-21 were USD 37.84 billion, as compared to USD 74.93 billion, showing a decline of 49.5%.

Non-oil imports in October 2020 were estimated at USD 27.62 billion, as compared to USD 28.26 billion in October 2019, showing a decline of 2.26%. Non-oil imports in April-October 2020-21 were USD 144.45 billion, as compared to USD 211.14 billion, registering a decline of 31.59% during the same period of last year.

Major commodities of export which have recorded positive growth during October 2020 vis-à-vis October 2019 are: other cereals (369.30%), rice (112.15%), oil meals (76.62%), iron ore (73.89%), oilseeds (54.06%), carpet (37.67%), cereal preparations and miscellaneous processed items (36.13%), Ceramic products and glassware (34.62%), drugs and pharmaceuticals (21.82%), spices (21.61%), jute products (18.76%), meat, dairy and poultry products (16.65%), handicrafts (11.37%), fruits and vegetables (8.92%), mica, coal and other ores and minerals (7.68%), cotton (6.52%), textiles (6.31%), tobacco (4.34%), organic and inorganic chemicals (1.91%) and tea (0.14%).

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