Exports jump 58.23% to $34 billion in March; 7.4% dip in 2020-21
SECTIONS
Last Updated: Apr 01, 2021, 10:26 PM IST
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In March 2020, the exports stood at USD 21.49 billion, which was a decline of about 34 per cent over March 2019 due to global slowdown induced by the Covid-19 crisis.
Agencies
India s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, an increase of 58.23 per cent
The country s exports jumped by 58.23 per cent to $34 billion, the highest ever reached in a month, in March as key sectors such as engineering, gems and jewellery and pharmaceuticals recorded healthy growth rate during the month, according to the Commerce Ministry s provisional data.
The surge in Covid-19 cases since mid-February 2021 may to hit the gems & jewellery sector and automotive dealerships, which have so far benefitted from the release of pent-up demand, according to rating agency Crisil. Somasekhar Vemuri, Senior Director, Crisil Ratings, the sharp rise in Covid-19 cases and the impact of any stringent containment measures on businesses are the key threats to the nascent demand recovery. They could impact the credit quality outlook adversely. Out of 42 sectors covered by study only six (accounting for four per cent of rated debt) are highly sensitive to a Covid-19 resurgence, while 20 are moderately sensitive. Airlines, airport operators, hospitality and retail, which have a long road to recovery, are sure part of the highly sensitive sectors. Other sensitive sectors are gems & jewellery and automotive dealers.
India’s exports in February decline marginally by 0.25 per cent
March 02, 2021
Trade deficit widens as imports rise 6.98 per cent during the month
India’s goods exports in February 2021 declined marginally by 0.25 per cent to $ 27.67 billion (year-on-year) after increasing for two consecutive months as major commodities including petroleum, engineering goods, gems & jewellery, ready-made garments and leather products suffered a set-back.
Trade deficit during the month widened by 25.84 per cent to $12.88 billion with imports posting a rise of 6.98 per cent in February 2021 to $40.55 billion, as per preliminary data released by the Commerce and Industry Ministry on Tuesday.
Value of non-petroleum and non-gems and jewellery exports in February 2021, however, increased by 5.65 per cent to $ 22.48 billion.