Exports jump 60 pc in March; falls over 7 pc to USD 290 billion in FY21

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Updated: April 15, 2021 6:42 PM

Trade deficit during March 2021 widened to USD 13.93 billion from USD 9.98 billion in March 2020. The trade deficit during the full fiscal, however, narrowed to USD 98.56 billion as against USD 161.35 billion during 2019-20, the data showed.

India is also taking forward negotiations with various other countries, including Israel.India is also taking forward negotiations with various other countries, including Israel.

The country’s exports jumped by 60.29 per cent to USD 34.45 billion in March even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to USD 290.63 billion.

Imports too grew by 53.74 per cent to USD 48.38 billion in March, but dipped by 18 per cent to USD 389.18 billion during April-March 2020-21, according to the government data released on Thursday.

Trade deficit during March 2021 widened to USD 13.93 billion from USD 9.98 billion in March 2020. The trade deficit during the full fiscal, however, narrowed to USD 98.56 billion as against USD 161.35 billion during 2019-20, the data showed.

Product categories that recorded positive growth during March include oilmeals (230.4 per cent), iron ore (194.89 per cent), jute manufacturing including floor covering (105.26 per cent), electronic goods (91.98 per cent), carpet (89.84 per cent), gems and jewellery (78.93 per cent), engineering goods (71.3 per cent), rice (66.77 per cent), spices (60.42 per cent), and meat, dairy and poultry products (52.79 per cent).

Pharmaceuticals (48.49 per cent), chemicals (46.5 per cent), marine products (40.81 per cent), petroleum products (35.52 per cent), coffee (23.27 per cent), and tea (8 per cent) were also among the segments that recorded growth.

Sectors that saw negative growth during March are oilseeds (-6.45 per cent) and cashew (-1.99 per cent).

Import sectors which recorded negative growth during the month include silver, transport equipment, pulses and fertilsiers.

Oil imports in March grew by 2.23 per cent to USD 10.27 billion in March. During April-March 2020-21, the imports dipped by 36.92 per cent to USD 82.35 billion.

Gold imports during the month increased to USD 8.49 billion from USD 1.22 billion in March 2020.

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