India hits a deficit of $1.87B in Exports for Feb21

Feb 15: Government of India, Ministry of Commerce and Industry released the Foreign Trade statistics of the country for the period of April to Jan 2020. The highlights of the reports is as follows

India’s overall exports (Merchandise and Services combined) in April-January2020-21* are estimated to be USD 396.60Billion, exhibiting a negative growth of (-) 10.63per cent over the same period last year. Overall imports in April-January 2020-21* are estimated to be USD 398.47Billion, exhibiting a negative growth of (-) 22.80per cent over the same period last year.

Merchandise Value – Total Exports USD 228.25 Billion (down by -13.58%), Total Imports USD 300.26 billion (down by -25.92%), Total Trade Deficit USD 72.01 Billion

Services Value – Total Exports USD 168.35 billion (down by 10.63 %), Total Imports USD 98.31 billion (down by -11.4 %), Net of Services USD 70.14 Billion

Overall Trade – Exports USD 396.6 billion (down by -10.63%), Imports USD 398.47 Billion (down by -22.8%), Trade Deficit of USD 1.87 billion

*Note: i) The latest data for services sector released by RBI is for December 2020. The data for January 2021 is an estimation, which will be revised based on RBI’s subsequent release ii) the figures in bracket are growth rates vis-à-vis corresponding period of last year.