India’s Foreign Trade Weakens In April Amid Second Wave Of Covid-19
India’s foreign trade weakened in April as the second wave of Covid-19 infections hurt economic activity.
Trade deficit widened to $15.24 billion in April from $13.9 billion in March, according to preliminary data released on April 2, by the Ministry of Commerce and Industry.
- Merchandise exports fell to $30.21 billion in April compared to $34.4 billion in March.
- Merchandise imports fell to $45.45 billion in April compared to $48.4 billion in March.
- On an annual basis, exports rose 197.03% and imports increased by 165.99% led by a low base.
Value of non-petroleum and non-gems and jewellery exports in April was $23.51 billion, compared to $27.42 billion in March.
Non-oil, non-gold, silver & precious metals imports were $26.05 billion in April 2021, compared to $29.62 billion the preceding month. Gold imports for April were at a little over $6.14 billion compared to $8.5 billion in March.