India’s exports in April jumped nearly three-folds to USD 30.21 billion from USD 10.17 billion in the same month last year, according to commerce ministry’s preliminary data released on Sunday.
Imports too rose to USD 45.45 billion last month as against USD 17.09 billion in April 2020.
“India is thus a net importer in April with a trade deficit of USD 15.24 billion, which increased by 120.34 per cent over the trade deficit of USD 6.92 billion in April 2020,” the ministry said in a statement.
Due to the Covid-19 pandemic induced lockdown last year, exports shrank by a record 60.28 per cent in April 2020. In March this year, exports grew by 60.29 per cent to USD 34.45 billion.
In April 2021, oil imports stood at USD 10.8 billion as compared to USD 4.65 billion in the corresponding month last year.
Major export commodities which have recorded positive growth in April include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.