India's exports rise 6% to $27.58 bn in Sept, imports decline 19.6%

  • 16-Oct-2020
  • India's exports rise 6% to $27.58 bn in Sept, imports decline 19.6%

After contracting for six straight months, India's exports rose 5.99 per cent to $27.58 billion in September on account of growth in shipments of drugs and pharmaceuticals and readymade garments, as per the government data released on Thursday.

Exports stood at $26.02 billion in September 2019.


The country's imports contracted 19.6 per cent to $30.31 billion in September. It was $37.69 billion in the same month last year.

The trade deficit narrowed to $2.72 billion, compared to a shortfall of $11.67 billion in the year ago-month.

Gold imports declined by nearly 53 per cent to $601.43 million in September.

"Exports in September 2020 were $27.58 billion, as compared to $26.02 billion in September 2019, exhibiting a positive growth of 5.99 per cent," the government said in a statement.

During the April-September 2020 period, exports declined by 16.66 per cent to $221.86 billion, while imports fell 35.43 per cent to $204.12 billion over the same period last year.

Major export commodities that have recorded positive growth during September include iron ore (109.65 per cent at $303.42 million), readymade garments (10.22 per cent at $1.19 billion), rice (93.86 per cent at $725.14 million), and drugs and pharmaceuticals (24.38 per cent at $2.24 billion).

However, outbound shipments of gems and jewellery declined 24.67 per cent and Mica, Coal and other ores, minerals including processed minerals slipped 6.71 per cent.

The data further revealed that non-petroleum and non-gems and jewellery exports in September stood at $21.27 billion, as compared to $19 billion in the same period previous fiscal, registering a growth of 11.94 per cent.

Oil imports dipped 35.88 per cent to $5.83 billion in September. During April-September, it declined 51.14 per cent to $31.86 billion.

"In this connection, it is mentioned that the global Brent price ($/bbl) has decreased by 34.08 per cent in September 2020 vis-a-vis September 2019 as per data available from World Bank," the statement said.

Taking merchandise and services together, the overall trade surplus for April-September is estimated at $17.74 billion as compared to the deficit of $49.91 billion in the year-ago period.

The estimated value of services exports for September is $16.34 billion and that of imports is 9.49 billion.

Since March, the country's outbound shipments were recording negative growth due to the Covid-19 pandemic and the resultant fall in global demand.




Source:- Business-standard.com

Seair is proud to have a loyal customer base from big brands.

We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:

Get a free Import-Export data demonstrative report on desired products.

We don’t offer any assistance over buying or selling any products.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Copyright © 2009 - 2024 www.seair.co.in. All Rights Reserved.