India’s October merchandise exports falls over 5% YoY

“Exports during April-October 2020-21 were $150.07 billion, exhibiting a decline of 19.05 per cent over the same period last year,” a Ministry of Commerce and Industry statement said on the basis of preliminary data.

“In October 2020, the value of non-petroleum exports was $23.21 billion, registering a positive growth of 1.84 per cent over October 2019. The value of non-petroleum and non-gems and jewellery exports in October 2020 was $20.28 billion, as compared to $19.07 billion in October 2019, registering a positive growth of 6.34 per cent.”

Similarly, India’s merchandise imports declined by 11.56 per cent in October.

The country’s imports fell to $33.6 billion from $37.99 billion reported during the corresponding period of 2019.

“India was thus a net importer in October 2020, with a trade deficit of $8.78 billion, as compared to trade deficit of $11.76 billion, an improvement by 25.34…