India’s April-October merchandise trade deficit at $32.22 billion
04 Nov 2020
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India’s trade deficit during the first seven months (April-October) of the financial year 2020-21 rose to $32.22 billion with cumulative imports worth $182.29 billion against imports valued at $150.07 billion during the period.
India saw its monthly trade deficit decline to $8.78 billion in October 2020 compared to the $11.76 billion deficit recorded in October last year as the country’s trade balance continued to remain in the negative.
India’s merchandise exports stood at $24.82 billion compared to $26.23 billion in October 2019, a fall of 5.4 per cent. Exports during April-October 2020-21 stood at $150.07 billion, showing a decline of 19.05 per cent over the same period last year
Imports into the country stood at $33.6 billion in October 2020, down 11.56 per cent from imports valued at $37.99 billion in October last year. Imports during April-October 2020-21 stood at $182.29 billion, against imports valued at $286.07 billion during the same period last year, showing a negative growth of 36.28 per cent.
Value of non-petroleum and non-gems and jewellery exports in October 2020 stood at $20.28 billion, against such exports valued a $19.07 billion in October 2019, a growth of 6.34 per cent
Non-oil, non- jewellery and precious metals imports were valued at $22.83 billion in October 2020, against such imports valued at $24.9 billion in October 2019, a negative growth of 8.31 per cent.
Top 5 commodities of export which recorded positive growth during October 2020 vis-à-vis October 2019 were cereals, including rice, oil meals, iron ore and oilseeds.
Top 5 commodity groups of import showing a fall in October 2020 over the corresponding month of last year were silver, newsprint, raw and waste cotton, pulses and transport equipment.
India imported crude oil worth $5.98 billion in October 2020 against oil imports valued at $9.73 billion in October 2019, a decline by 38.52 per cent. Oil imports in April-October 2020-21 stood at $37.84 billion, against oil imports valued at $74.93 billion n April-October 2019-20.
Non-oil imports in October 2020 were estimated at $27.62 billion in October 2020, against such imports valued at $28.26 billion in October 2019. Non-oil imports in April-October 2020-21 stood at $144.45 billion against non-oil imports valued at $211.14 billion during the same period last year.
