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India’s trade deficit narrows, exports up by 5.99% in September

India's trade deficit for September 2020 was estimated to be USD 2.72 Billion as against the deficit of USD 11.67 billion in September 2019, which is a decline of (-) 76.66%.

Oct 16, 2020 12:11 IST
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India's trade deficit narrowed to $2.72 billion in September 2020 and exports rose by 5.99%, in the first visible signs of economic recovery. 

India's trade deficit for September 2020 was estimated to be USD 2.72 Billion as against the deficit of USD 11.67 billion in September 2019, which is a decline of (-) 76.66%.

On the other hand, exports stood at USD 27.58 billion in September 2020, in comparison to USD 26.02 billion in September 2019, indicating a positive growth of 5.99%. In Rupee terms, India's exports stood at Rs 2,02,694.07 crore in September 2020, in comparison to Rs 1,85,642.32 crore in September 2019, showing a positive growth of 9.19%.

India's Imports in September 2020

India's imports stood at USD 30.31 billion (Rs 2,22,708.15 crore) in September 2020, in comparison to USD 37.69 billion (Rs 2,68,891.09 crore) in September 2019, which shows a decline of (-) 19.60% in Dollar terms and (-) 17.18% in Rupee terms.

Cumulative value of imports

The cumulative value of imports between April and September 2020-21 stood at USD148.69 billion or Rs.11,14,686.58cr, in comparison to USD 248.08 billion or Rs 17,35,550.99cr between April and September 2019-20. This shows a negative growth of (-)40.06% in Dollar terms and (-) 35.77% in Rupee terms.

Oil Imports 

The oil imports stood at USD 5.83 Billion (Rs 42,812.35Crore) in September 2020, in comparison to USD 9.09 Billion (Rs. 64,815.60Crore) in September 2019, which shows a decline of 35.88 percent in Dollar terms and 33.95 percent in Rupee terms. 

Overall, the oil imports in April-September 2020-21 were USD 31.86 Billion or Rs. 2,38,995.70 crore, in comparison to USD 65.20 Billion or Rs. 4,56,108.64Crore during April-September 2019-2020 period, which showed a decline of 51.14 per cent in Dollar terms and 47.60 percent in Rupee terms. 

Non-Oil Imports

The non-oil imports in September 2020 were estimated at USD24.48Billion (Rs. 1,79,895.80Crore), in comparison to USD 28.61Billion (Rs 2,04,075.49Crore) in September 2019, which shows 14.43 percent decline in Dollar terms and 11.85 percent decline in Rupee terms.

The non-oil imports stood at USD 116.83Billion (Rs. 8,75,690.88Crore) during the April-September period, which is 36.12per cent lower in Dollar terms and 31.56 percent lower in Rupee terms. The non-oil imports between April-September 2019-20 stood at USD 182.88 Billion and Rs. 12,79,442.35 Crore in Rupee terms.

The non-oil and non-gold imports stood at USD 23.88Billion in September 2020, in comparison to USD 27.33Billion in September 2019, recording a negative growth of (-)12.63per cent. Further, the non-oil and non-gold imports stood at USD110.05 Billion in April-September 2020-21, in comparison to USD 167.08 Billion in April-September 2019-20, recording a negative growth of (-) 34.13per cent.

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