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India’s exports jump 60% in March; trade deficit widens to $13.93 billion
Apr-16-2021

Continuing growth momentum for fourth straight month, the country's exports jumped 60.29% to $34.45 billion in March even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to $290.63 billion. Imports too grew by 53.74% to $48.38 billion in March, but dipped by 18 per cent to $389.18 billion during April-March 2020-21. Trade deficit during March 2021 widened to $13.93 billion from $9.98 billion in March 2020. However, the trade deficit during the full fiscal narrowed to $98.56 billion as against $161.35 billion during 2019-20.

As per the data released by the Commerce Ministry, exports surged by 60.29% to $34.45 billion in March 2021, as compared to $21.49 billion in March 2020. In Rupee terms, exports were Rs. 2,50,756.40 crore in March 2021, as compared to Rs. 1,59,784.62 crore in March 2020, registering a positive growth of 56.93%. Cumulative value of exports for the period April-March 2020-21 was $290.63 billion as against $313.36 billion during the period April-March 2019-20, registering a negative growth of 7.26%. Rupee terms, it was down by 3.13% to Rs 21,50,325.03 crore from Rs 22,19,854.18 crore in the corresponding month a year ago. 

Non-petroleum and Non-Gems and Jewellery exports in March 2021 were $27.42 billion, as compared to $16.95 billion in March 2020, registering a positive growth of 61.75%. Non-petroleum and Non-Gems and Jewellery exports in April-March 2020-21 were $238.72 billion, as compared to $236.17 billion for the corresponding period in 2019-20, which is an increase of 1.08%.

On the other hand, imports increased by 53.74% to $48.38 billion in March 2021 as compared to $31.47 billion in March 2020, while in rupee terms it was up by 50.52% to Rs 3,52,191.21 crore from Rs 2,33,988.47 crore in March 2020.  Cumulative value of imports for the period April-March 2020-21 was $389.18 billion, as against $474.71 billion during the period April-March 2019-20, registering a negative growth of 18.02%. In rupee terms, it was Rs 28,76,918.30 crore, down by 14.40% from Rs 33,60,954.46 crore in the same period last year.

Oil imports in March 2021 were $10.27 billion, which was 2.23% higher, compared to $10.05 billion in March 2020. Oil imports in April-March 2020-21 were $82.35 billion which was 36.92% lower over the same period last year. Non-oil imports in March 2021 were estimated at $38.11 billion which was 77.90% higher, compared to $21.42 billion in March 2020. Non-oil imports in April-March 2020-21 were $306.83 billion which was 10.85 per cent lower, compared to $344.16 billion in April-March2019-20. Non-Oil and Non-Gold imports were $29.62 billion in March 2021, recording a positive growth of 46.66%, as compared to Non-Oil and Non-Gold imports of $20.20 billion in March 2020. Non-Oil and Non-Gold imports were $272.23 billion in April-March 2020-21, recording a negative growth of 13.83%, as compared to Non-Oil and Non-Gold imports of $315.93 billion in April-March 2019-20.
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