India sees Trade deficit of 7.8B as on 1 Mar 21

Mar 15: Government of India, Ministry of Commerce and Industry released the Foreign Trade statistics of the country for the period of April to Feb 2021. The highlights of the reports is as follows

India’s overall exports (Merchandise and Services combined) in April-February2020-21* are estimated to be USD 439.64Billion, exhibiting a negative growth of (-) 10.14per cent over the same period last year. Overall imports in April-February 2020-21* are estimated to be USD 447.44Billion, exhibiting a negative growth of (-) 20.83per cent over the same period last year.

Merchandise Value – Total Exports USD 256.18 Billion (down by -12.23%), Total Imports USD 340.8 billion (down by -23.11 %), Total Trade Deficit USD 84.62 Billion

Services Value – Total Exports USD 183.46 billion (down by 7.05 %), Total Imports USD 106.64billion (down by -12.53 %), Net of Services USD 76.83 Billion

Overall Trade – Exports USD 439.64 billion (down by -10.14%), Imports USD 447.44 Billion (down by -20.8e%), Trade Deficit of USD 7.8 billion

*Note: i) The latest data for services sector released by RBI is for January 2021. The data for February 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.

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