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Exports rise by over 60% YoY in March
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SME Times News Bureau | 15 Apr, 2021
Base effect, along with healthy demand conditions abroad, pushed India's
merchandise exports higher by 60.29 per cent on a year on year basis in
March 2021, official data showed on Thursday.
The country's
merchandise exports during the month under review increased to $34.45
billion as compared to $21.49 billion in March 2020.
"Non-petroleum
and non-gems and jewellery exports in March 2021 were $27.42 billion,
as compared to $16.95 billion in March 2020, registering a positive
growth of 61.75 per cent," said a Ministry of Commerce and Industry
statement said on the basis of preliminary data.
"Non-petroleum
and non-gems and jewellery exports in April-March 2020-21 were $238.72
billion, as compared to $236.17 billion for the corresponding period in
2019-20, which is an increase of 1.08 per cent."
Similarly,
India's imports increased, rising by 53.74 per cent to $48.38 billion as
compared to $31.47 billion reported for March 2020.
"Oil imports
in March 2021 were $10.27 billion which was 2.23 per cent higher in
Dollar terms compared to $10.05 billion in March 2020."
"Non-oil
imports in March 2021 were estimated at $38.11 billion which was 77.90
per cent higher in Dollar terms compared to $21.42 billion in March
2020."
As per the statement, non-oil and non-gold imports were
$29.62 billion in March 2021, recording a positive growth of 46.66 per
cent, as compared to non-oil and non-gold imports of $20.20 billion in
March 2020.
Consequently, India's trade deficit widened last month to $13.93 billion from $9.98 billion in March 2020.
In
terms of fiscal 2020-21, India's exports fell by 7.26 per cent to
$290.63 billion, from $313.36 billion during the previous fiscal.
Likewise, merchandise imports fell during April-March 2020-21.
The imports declined by 18.02 per cent to $389.18 billion, as compared to $474.71 billion during the same period of last year.
Accordingly, trade deficit for FY21 narrowed to $98.56 billion from $161.35 billion in FY20.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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