The Commerce Ministry in its latest data has showed that India’s merchandise exports snapped six-month losing streak and grew by 5.27 percent to $27.4 billion in September 2020 as compared to $ 26.02 billion in the same month a year ago. Key sectors such as petroleum, leather, engineering goods and gems and jewellery were registering negative growth rates. Exports during April-September 2020-21 were $125.06 billion, exhibiting a negative growth of 21.43 percent over the same period last year. Trade deficit, gap between imports and exports, narrowed to $2.91 billion in September 2020 from $11.67 billion a year ago.
In September 2020, the value of non-petroleum exports was $23.81 billion, registering a positive growth of 5.44 percent over September 2019. The value of non-petroleum and non-gems and jewellery exports in September 2020 was $21.11 billion, as compared to $19.00 billion in September 2019, registering a positive growth of 11.12 percent. The cumulative value of non-petroleum and non-gems and jewellery exports in April-September 2020-21 was $104.35 billion, as compared to $118.65 billion for the corresponding period in 2019-20, exhibiting a decrease of 12.05 percent.
On the other hand, imports during September 2020 decreased by 19.60% to $30.31 billion as compared to $37.69 billion in September 2019. Imports during April-September 2020-21 were $148.69 billion, as compared to $248.08 billion during the same period last year, exhibiting a negative growth of 40.06 percent. In September 2020, Oil imports were $5.82 billion, as compared to $9.09 billion in September 2019, a decline by 35.92 percent. Oil imports in April-September 2020-21 were $31.85 billion, as compared to $65.20 billion, showing a decline of 51.14 percent. Non-oil imports in September 2020 were estimated at $24.48 billion, as compared to $28.61 billion in September 2019, showing a decline of 14.41 percent.
Non-oil imports in April-September 2020-21 were $116.83 billion, as compared to $182.88 billion, registering a decline of 36.12 percent during the same period of the last year. Non-oil and non-gold imports were $21.80 billion in September 2020, recording a negative growth of 13.29 percent, as compared to non-oil and non-gold imports of $25.14 billion in September 2019. Non-oil and non-gold imports were $104.85 billion in April-September 2020-21, recording a negative growth of 32.64 percent, as compared to non-oil and non-gold imports of $155.66 billion in April-September 2019-20.
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