India’s exports dip 5.4 per cent in October

Exports during April-October 2020-21 stood at $150.07 billion, registering a decline of 19.05 per cent over the same period last year

New Delhi: India’s exports declined 5.4 per cent to $24.82 billion in October due to fall in shipments of sectors like petroleum products, gems and jewellery, and leather, according to government data released on Tuesday.

Exports during April-October 2020-21 stood at $150.07 billion, registering a decline of 19.05 per cent over the same period last year.

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“India’s merchandise exports in October 2020 were $ 24.82 billion, as compared to $26.23 billion in October 2019, showing a fall of 5.4 per cent,” the Commerce and Industry Ministry said in a statement.

Imports also fell 11.56 per cent to $33.6 billion during October.

“India was thus a net importer in October 2020 with a trade deficit of $8.78 billion, as compared to trade deficit of $11.76 billion, an improvement by 25.34 per cent,” it added.