Source:
Highlights
Trade deficit during March 2021 widened to USD 13.93 billion from USD 9.98 billion in March 2020.
The export growth of 60.29 per cent in March this year is the highest after about 82 per cent growth recorded in July 2011.
Sectors that saw negative growth during March are oilseeds (-6.45 per cent) and cashew (-1.99 per cent).
New Delhi: The country s exports surged by 60.29 per cent to a monthly record high of USD 34.45 billion in March on growth in sectors such as engineering, gems and jewellery and pharmaceuticals, even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to USD 290.63 billion.
India’s merchandise exports surged to $34.45 billion, up 60 per cent year-on-year (YoY) in March, on the back of a low base effect in the lockdown-hit corresponding month last year. On a sequential basis, the growth in merchandise exports was 23 per cent, the data released by the ministry of commerce and industry on Thursday showed. In terms of value of exports, it has surpassed previous high of $32.55 in March 2019 nearly a year before the outbreak of the pandemic, signaling recovery in demand. Experts said the jump in outward shipments is generally also a year-end phenomenon, with exporters trying to meet their annual targets.
RBI Monetary Policy Report: India s exports in expansionary zone from December 2020 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
India s exports rise 58.23% to $34 billion in March
Exports during April-March 2020-21, however, dipped by 7.4 per cent to $290.18 billion compared to $313.36 billion in 2019-20, the data showed
PTI | April 2, 2021 | Updated 08:22 IST
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.
Exports during April-March 2020-21, however, dipped by 7.4 per cent to $290.18 billion compared to $313.36 billion in 2019-20, the data showed.
Imports during 2020-21 contracted by 18 per cent to $388.92 billion compared to $474.71 billion during 2019-20. In March 2020, the exports stood at $21.49 billion, showing a decline of about 34 per cent over March 2019 due to global slowdown induced by the Covid-19 crisis.
Exports jump by 58% to record USD 34 billion in March but 7.4% fall in 2020-21
Exports jump by 58% to record USD 34 billion in March but 7.4% fall in 2020-21
India’s exports increased by 58.23 per cent to a record USD 34 billion in March with key sectors performing well. However, exports dipped by 7.4 per cent to USD 290.18 billion in 2020-21 as compared to USD 313.36 billion in 2019-20, according to data.
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UPDATED: April 2, 2021 14:33 IST
India’s exports increased by 58.23 per cent to a record USD 34 billion in March. However, exports dipped by 7.4 per cent to USD 290.18 billion in 2020-21 as compared to USD 313.36 billion in 2019-20. (Photo: PTI file)