Exports Rise 3-Fold To $30.63 Billion, Trade Deficit At $15.10 Billion

Exports Rise 3-Fold To $30.63 Billion, Trade Deficit At $15.10 Billion

Trade Deficit in April 2021: Trade deficit widened to $15.10 billion last month

The country's exports in April 2021 jumped nearly three-fold to $ 30.63 billion from $10.36 billion in the corresponding month last year, according to government data released on Friday, May 14. Foreign trade data released by the Ministry of Commerce showed that imports rose to $ 45.72 billion last month as against $ 17.12 billion in the same month last year. Subsequently, the trade deficit widened to $15.10 billion in April 2021, compared to $6.76 billion in the year-ago period. (Also Read: Trade Deficit Widens To $14.12 Billion In March With Highest Ever Export )

The sharp rise in exports and imports registered in April 2021 was due to a low base in trade volumes in the corresponding month last year when the country was under a nationwide lockdown in order to arrest the spread of COVID-19.

Some of the main export commodities which have recorded growth last month include jute, carpet, leather, handicrafts, oil meals, petroleum products, chemicals, gems and jewellery, carpet, electronic goods, cashew, marine products, according to government data.

According to Commerce Ministry data, the non-petroleum and non-gems and jewellery exports in April 2021 were $ 23.62 billion, compared to $ 9.08 billion in the year-ago period, registering a growth of 160.24 per cent. Meanwhile, oil imports in April were $ 10.87 billion, which was 133.24 percent higher in dollar terms, compared to $ 4.66 billion in the corresponding month last year. 

It was reported last month that the country's trade deficit in goods widened to $14.12 billion in March 2021, compared to $12.88 billion in February 2021, with exports registering at an all-time high of $34 billion - the highest ever in terms of the value and growth for any month in India's history.