New Delhi, Jan 2 (UNI) India’s exports shrank by 0.8 per cent, as it recorded trade of USD26.89 billion as of December 2020 as compared to USD27.11 billion in the same month in 2019.
The decline was due to contraction in sectors like petroleum, leather and marine products, preliminary data released by the commerce ministry on Saturday showed.
The data revealed that trade deficit widened by 25.78 per cent to USD 15.71 billion, as compared to the trade deficit of USD12.49 billion in December 2019.
Exports in December 2019 was USD27.11 billion, while imports stood at USD39.5 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 USD200.55 billion, as compared to USD238.27 billion in the same period of 2019-20.
Imports during the nine months of the current fiscal declined by 29.08 per cent to USD258.29 billion, as against USD364.18 billion in April-December 2019-20.
“India is thus a net importer in December 2020, with a trade deficit of USD 15.71 billion, as compared to a trade deficit of USD 12.49 billion, widened by 25.78 per cent,” the ministry said in a statement.
In December 2020, oil imports declined by 10.37 per cent to USD 9.61 billion. During April-December this fiscal, the imports dipped by 44.46 per cent to USD 53.71 billion.
