Trade Deficit Widens To $14.12 Billion In March With Highest Ever Export Trade Deficit In March 2021: Merchandise export in March was $34 billion, compared to $21.49 billion over the corresponding period last year, registering a growth of 58.23 per cent.
Updated: April 01, 2021 9:05 pm IST
Exports were at an all-time high of $34 billion - the highest ever in terms of value and growth
The country s trade deficit in goods widened to $14.12 billion in March 2021, as compared to $12.88 billion in February 2021, with exports recorded at an all-time high of $34 billion - the highest ever in terms of value and growth for any month in India s history. Merchandise export in March 2021 was $34 billion, compared to $21.49 billion over the corresponding period last year, registering a growth of 58.23 per cent. Export excluding petroleum oil and lubricant (POL), also increased in March 2021, over the corresponding period last year, registering a growth of 62.3 per cent. (
The data revealed that exports of petroleum products contracted 35.35 per cent to $ 2.34 billion in December 2020, while that of readymade garments shrank 15.05 per cent to $ 1.19 billion. However, exports of electronic goods grew by 16.51 per cent to $ 1.25 billion and of chemicals by 10.79 per cent to nearly $ 2 billion. If the merchandise and services are combined, the country s overall exports in the April-December period stood at $ 348.49 billion, a decline of 12.65 per cent over the corresponding period in 2019.
Additionally, the outward shipments of rice, tea, spices as well as oil meals too were higher in December 2020 as compared to the corresponding month of 2019. The cumulative value of exports for the April-December period was $ 200.80 billion as compared to $ 238.27 billion during the corresponding period in 2019, registering a decline of 15.73 per cent. The overall imports in the April-December period were estimated to be $ 343.27 billion, reflecting negativ
In December 2020, oil imports declined by 10.37 per cent to $ 9.61 billion
Contracting for the third straight month, India s exports slipped marginally by 0.8 per cent to $ 26.89 billion in December 2020, due to decline in sectors like petroleum, leather, and marine products, as per the government data. The trade deficit in December widened to $15.71 billion, as imports grew by 7.6 per cent to $ 42.6 billion, according to the preliminary data released by the commerce ministry on Saturday. Exports in December 2019 were $ 27.11 billion, while imports stood at $ 39.5 billion. In November 2020, exports were down by 8.74 per cent. In April-December 2020-21, the country s merchandise exports contracted by 15.8 per cent to $ 200.55 billion, as compared to $ 238.27 billion in the same period last fiscal.