India Merchandise Exports Decline 7.4 Per Cent In Fiscal Year 2020-2021

NEW DELHI, April 2 (Bernama) -- India's merchandise exports in the fiscal year ending March 2021 declined 7.4 per cent to US$290.18 billion compared with the previous 12-month period, the Ministry of Commerce and Industry said. Merchandise imports during the year were US$388.92 billion, showing a fall of 18 per cent from the April-March period of 2019-2020. The country's crude oil imports during the 2020-2021 fiscal year were US$82.25 billion, representing a 37 per cent decline in value from the previous year, the ministry said on Thursday. Merchandise exports in March this year were US$34 billion, jumping 58.2 per cent year-on-year, while imports grew 52.9 per cent to US$48.12 billion. Trade deficit last month was US$14.11 billion compared with US$9.98 billion in March 2020. -- BERNAMA