The country’s exports declined marginally by 0.8 per cent to USD 26.89 billion in December 2020, because of contraction in sectors like petroleum, leather and marine products, according to preliminary data released by the trade ministry on Saturday.
The business deficit in December widened to USD 15.71 billion, as imports grew by 7.6 per cent to USD 42.6 billion, the data showed.
Exports in December 2019 used to be USD 27.11 billion, while imports stood at USD 39.5 billion. In November 2020, the exports were down by 8.74 per cent.
In April-December 2020-21, the country’s merchandise exports contracted by 15.8 per cent to USD 200.55 billion, as in comparison to USD 238.27 billion in the same period of 2019-20.
Imports all the way through the nine months of the present fiscal declined by 29.08 per cent to USD 258.29 billion, as against USD 364.18 billion in April-December 2019-20.
“India is thus a net importer in December 2020, with a business deficit of USD 15.71 billion, as in comparison to a business deficit of USD 12.49 billion, widened by 25.78 per cent,” the ministry said in a commentary.
In December 2020, oil imports declined by 10.37 per cent to USD 9.61 billion. All through April-December this fiscal, the imports dipped by 44.46 per cent to USD 53.71 billion.
(Only the headline and picture of this outline may have been reworked by the Trade Standard staff; the remainder of the satisfied is auto-generated from a syndicated feed.)
Trade Standard has all the time strived tough to supply up-to-date information and observation on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and fixed feedback on how to support our offering have only made our get to the bottom of and commitment to these ideals stronger. Even all the way through these difficult times arising out of Covid-19, we continue to remain dedicated to keeping you informed and up to date with credible news, authoritative views and incisive observation on topical issues of relevance.
We, then again, have a request.
As we battle the economic affect of the pandemic, we need your fortify even more, in order that we will continue to provide you with more quality satisfied. Our subscription mannequin has seen an encouraging response from many of you, who have subscribed to our online satisfied. More subscription to our online satisfied can only help us achieve the goals of offering you even better and more applicable satisfied. We imagine in free, reasonable and credible journalism. Your fortify through more subscriptions can help us practise the journalism to which we are dedicated.
Strengthen quality journalism and subscribe to Trade Standard.