Contracting for the second straight month, India’s merchandise exports shrank by 60.28% in April 2020 as compared to same period of last year, mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis. However, trade deficit, gap between imports and exports, narrowed to $6.76 billion in April 2020 from $15.33 billion a year ago.
As per the data released by the Commerce Ministry, merchandise exports fell by 60.28% to $10.36 billion in April 2020, as compared to $26.07 billion in the same month a year ago. In Rupee terms, it was down by 56.39% to Rs 78,951.41 crore in April 2020, as compared to Rs 1,81,021.34 crore in April 2019. Non-petroleum and Non Gems and Jewellery exports in April 2020 were $9.08 billion, as compared to $19.54 billion in April 2019, exhibiting a negative growth of 53.54%.
On the other hand, imports during April 2020 too decreased by 58.65% to $17.12 billion as compared to $41.40 billion in April 2019, while in rupee terms it was down by 54.59% to Rs 1,30,525.08 crore from Rs 2,87,432.93 crore in April 2019.
Further, oil imports in April 2020 were $4.66 billion, which were 59.03% lower, compared to $11.38 billion in April 2019. Non-oil imports during April 2020 were estimated at $12.46 billion which was 58.50% lower than non-oil imports of $30.02 billion in April 2019. Non-Oil and Non-Gold imports were $12.46 billion in April 2020, down 52.18% over the same period of last year.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: