NEW DELHI: India’s exports in October fell 5.4% to $24.82 billion, as compared to $26.23 billion in October 2019, according to the government data. Exports during April-October 2020-21 were $150.07 billion, exhibiting a decline of 19.05% over the same period last year, 

it added.

 

Additionally, imports in October declined 11.56% to $33.6 billion, as compared to $37.99 billion in October 2019. Merchandise imports during April-October 2020-21 were $182.29 billion, as compared to $286.07 billion during the same period last year, exhibiting a negative growth of 36.28%, government stated.

Consequentially, India’s trade deficit for the month of October narrowed to $8.78 billion, as compared to trade deficit of $11.76 billion, an improvement by 25.34%.

 

The value of non-petroleum exports was $23.21 billion, registering a positive growth of 1.84% over October 2019. Non-petroleum and non-gems and jewellery exports stood $20.28 billion, as compared to $19.07 billion in the corresponding month, 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 $124.79 billion, as compared to $137.72 billion for the corresponding period in 2019-20, exhibiting a decrease of 9.39%.

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

 

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

 

Gold imports were $22.83 billion, recording a negative growth of 8.31%, as compared to non-oil and non-gold imports of $24.9 billion in October 2019. Non-oil and non-gold imports were $126.97 billion in April-October 2020-21, recording a negative growth of 29.28%, as compared to non-oil and non-gold imports of $179.55 billion in April-October 2019-20.

 

Since March, the exports were recording negative growth due to COVID-19 pandemic and sluggish global demand. However, in September, exports rose for the first time in seven months with merchandise exports registering a 6% growth—higher than 5.3%, driven mostly by an increase in demand for engineering goods, petroleum products, pharmaceuticals and readymade garments.

 

Exports rose to $27.6 billion, while imports contracted 19.6% to $30.3 billion, resulting in a trade deficit of $2.7 billion, according to data released by the Commerce Ministry.