India’s foreign trade March
India’s overall exports (Merchandise and Services combined) in April-March2019-20 are estimated to be USD 528.45billion, exhibiting a negative growth of (-) 1.36per cent over the same period last year. Overall imports in April-March 2019-20 are estimated to be USD 598.61billion, exhibiting a negative growth of (-) 6.33per cent over the same period last year.
Merchandise trade, at export (including re-exports) front, it is noted that exports in March 2020 were USD21.41billion, as compared to USD32.72billion in March 2019, exhibiting a negative growth of (-) 34.57per cent. In Rupee terms, exports were Rs. 1,59,157.98crore in March2020, as compared to Rs. 2,27,318.25crore in March2019, registering a negative growth of (-) 29.98per cent.
The decline in exports has been mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis. The latter resulted in large scale disruptions in supply chains and demand resulting in cancellation of orders. Major commodity groups which have recorded negative growth during March 2020 vis-à-vis March 2019 where Gems & jewellery stands at -41.05%. Gems & Jewellery exports in April had registered worth of RS19832.50 was -8.38% YoY over the same month of previous year!
Cumulative value of exports for the period April-March 2019-20 was USD314.31billion (Rs.22,26,566.71crore) as against USD330.08billion (Rs.23,07,726.19crore) during the period April-March 2018-19, registering a negative growth of (-)4.78per cent in Dollar terms (negative growth of (-)3.52per cent in Rupee terms).
Imports in March2020 were USD31.16billion (Rs.2,31,710.92crore), which was 28.72per cent lower in Dollar terms and 23.72per cent lower in Rupee terms over imports of USD43.72billion (Rs3,03,753.76crore) in March2019. Cumulative value of imports for the period April-March 2019-20 was USD467.19billion (Rs.33,07,977.05crore), as against USD514.08billion (Rs.35,94,674.61crore) during the period April-March 2018-19, registering a negative growth of (-)9.12per cent in Dollar terms (negative growth of (-)7.98per cent in Rupee terms).
