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Import logs 32% negative growth in Oct month

By TIOL News Service

NEW DELHI, NOV 14, 2020: INDIA's overall exports (Merchandise and Services combined) in April-October 2020-21 are estimated to be USD 265.09 Billion, exhibiting a negative growth of (-) 14.53 per cent over the same period last year. Overall imports in April-October 2020-21 are estimated to be USD 248.58 Billion, exhibiting a negative growth of (-)31.89 per cent over the same period last year.

Exports in October 2020 were USD 24.89 Billion, as compared to USD 26.23 Billion in October 2019, exhibiting a negative growth of (-)5.12 per cent. In Rupee terms, exports were Rs. 1,82,845.95 Crore in October 2020, as compared to Rs. 1,86,358.06 Crore in October 2019, registering a negative growth of (-)1.88 per cent.

Imports in October 2020 were USD 33.61 Billion (Rs.2,46,856.53 Crore), which is a decline of (-) 11.53 per cent in Dollar terms and (-) 8.52 per cent in Rupee terms over imports of USD37.99 Billion (Rs 2,69,852.86 Crore) in October 2019. Cumulative value of imports for the period April-October 2020-21 was USD 182.29 Billion (Rs.13,61,543.11 Crore), as against USD 286.07 Billion (Rs.20,05,403.85 Crore) during the period April-October 2019-20, registering a negative growth of (-)36.28per cent in Dollar terms and a negative growth of (-)32.11 per cent in Rupee terms.

As per the latest press release by RBI dated 13th November 2020, exports in September 2020 were USD 17.29 Billion (Rs.1,27,013.12 Crore) registering a negative growth of (-) 1.43 per cent in Dollar terms, vis-à-vis September 2019. The estimated value of services export for October 2020 is USD 17.39 Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-October 2020-21 is estimated at USD 16.52 Billion as compared to the deficit of USD 54.83 Billion in April-October 2019-20.


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