New Delhi, May 14 (SocialNews.XYZ) The low base effect powered India's merchandise exports to grow by over 195 per cent on year-on-year basis last month.
In April 2021, exports grew to $30.63 billion, higher by 195.72 per cent over the $10.36 billion reported in April 2020.
"As compared to April 2019, exports in April 2021 exhibited a positive growth of 17.62 per cent in dollar terms and 26.17 per cent in rupee terms," an official statement on foreign trade said.
"Non-petroleum and non-gems and jewellery exports in April 2021 were $23.62 billion, as compared to $9.08 billion in April 2020, registering a positive growth of 160.24 per cent."
As compared to April 2019, the non-petroleum and non-gems and jewellery exports in April 2021 registered a positive growth of 20.47 per cent.
Similarly, India's merchandise imports grew in April 2021, rising to $45.72 billion, with an increase of 167.05 per cent over $17.12 billion in April 2020.
"Imports in April 2021 has registered a positive growth of 7.87 per cent in dollar terms and 15.71 per cent in rupee terms in comparison to April 2019."
"Oil imports in April 2021 were $10.87 billion which was 133.24 per cent higher in dollar terms compared to $4.66 billion in April 2020. As compared to April 2019, oil imports in April 2021 were 5.98 per cent lower in dollar terms and 0.85 per cent higher in rupee terms."
According to the data, non-oil imports in April 2021 were estimated at $34.85 billion which was 179.70 per cent higher in dollar terms compared to $12.46 billion in April 2020.
"As compared to April 2019, non-oil imports in April 2021 were 13.07 higher in dollar terms and 21.28 per cent higher in rupee terms."
"Non-oil and non-gold imports were $28.61 billion in April 2021, recording a positive growth of 129.68 per cent, as compared to non-oil and non-gold imports of $12.46 billion in April 2020. Non-oil and non-gold imports in April 2021 recorded a positive growth of 6.56 per cent over April 2019."
Consequently, the trade deficit in April 2021 rose to $15.10 billion over $6.76 billion in April 2020.
Source: IANS
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