India’s Foreign Trade touches US$ 1Trillion in 2020-21

Apr 15: Government of India, Ministry of Commerce and Industry released the Foreign Trade statistics of the country for the Financial Year 2020-21. The highlights of the reports is as follows

India’s overall exports (Merchandise and Services combined) in April-March2020-21* are estimated to be USD 493.19Billion, exhibiting a negative growth of (-)6.66per cent over the same period last year. Overall imports in April-March 2020-21* are estimated to be USD 505.94Billion, exhibiting a negative growth of (-)16.53per cent over the same period last year.

Merchandise Value – Total Exports USD 290.63 Billion (down by -7.26%), Total Imports USD 389.18billion (down by -18.02%), Total Trade Deficit USD 98.56 Billion

Services Value – Total Exports USD 202.57billion (down by 5.78 %), Total Imports USD 116.75 Billion (down by -11.16%), Net of Services USD 85.81 Billion

Overall Trade – Exports USD 493.19 billion (down by -6.66%), Imports USD 505.94 Billion (down by -16.53%), Trade Deficit of USD 12.74 billion

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