Merchandise exports of India in March 2021 have increased an impressive 58.23 percent to 34 billion dollars when compared to 21.49 billion dollars in March 2020.
This is the highest number ever reached in a month.
As per Commerce Ministry’s provisional data, key sectors such as engineering, gems, jewelry, and pharmaceuticals have recorded a healthy growth rate during the month.
However, exports during April-March 2020-21 were 290.18 billion dollars, as compared to 313.36 billion in 2019-20. This data exhibits a negative growth of 7.40 percent.
India’s merchandise imports in March 2021 were 48.12 billion dollars as compared to 31.47 billion in March last year. This is an increase of 52.89 percent. Merchandise imports during April-March 2020-21 were 388.92 billion dollars, as compared to 474.71 billion during the same period of last year, exhibiting a negative growth of 18.07 percent.
India is thus a net importer in March 2021, with a trade deficit of 14.11 billion dollars, as compared to a trade deficit of 9.98 billion. This is an improvement of 41.4 percent.