New Delhi, Dec 15 | Rising Coronavirus cases and subsequent lockdowns in key export markets dragged India’s merchandise exports lower by 8.74 per cent in November, official data showed on Tuesday.
The country’s merchandise exports during the month under review receded to $23.52 billion from $25.77 billion in November 2019.
“Cumulative value of exports for the period April-November 2020-21 was USD 173.66 billion as against USD 211.17 billion during the period April-November 2019-20, registering a negative growth of (-) 17.76 per cent in dollar terms,” a Ministry of Commerce and Industry statement said on the basis of preliminary data.
“Non-petroleum and Non-Gems and Jewellery exports in November 2020 were USD 19.29 billion, as compared to USD 19.37 billion in November 2019, registering a negative growth of (-) 0.40 per cent.”
Similarly, India’s merchandise imports declined by 13.32 per cent in November to $33.39 billion from $38.52 billion during the corresponding month of the previous year.
“Imports in November 2020 were USD 33.39 Billion which is a decline of (-) 13.32 per cent in Dollar terms and (-) 9.96 per cent in rupee terms over imports of USD 38.52 Billion in November2019,” the statement said.
“Cumulative value of imports for the period April-November 2020-21 was USD 215.69 Billion as against USD 324.59 Billion during the period April-November 2019-20, registering a negative growth of (-) 33.55 per cent in Dollar terms and a negative growth of (-) 29.43 per cent in Rupee terms.”
Segment wise, oil imports in November 2020 were down 43.36 per cent to $6.27 billion compared to $11.07 billion.
“Non-oil imports in November 2020 were estimated at USD 27.12 Billion which was 1.20 per cent lower in Dollar terms, compared to USD 27.45 Billion in November 2019.”
“Non-Oil and Non-Gold imports were USD 24.10 Billion in November 2020, recording a negative growth of (-) 1.67 per cent, as compared to Non-Oil and Non-Gold imports of USD 24.51 Billion in November 2019.”
In addition, the data showed that India was a net importer in November 2020, with a trade deficit of $9.87 billion, as compared to trade deficit of $12.75 billion.