India Trade Balance April 2020

India: Merchandise exports growth hits a record high in April

Merchandise exports increased a massive 195.7% in annual terms in April, on the heels of March’s 60.3% expansion. Meanwhile, merchandise imports rose 167.1% in annual terms in April (March: +53.7% yoy). April’s result was predominately flattered by a low base effect as the pandemic that began around this time last year dented global economic trade. The next few months will likely experience similar exaggerated growth figures.

Meanwhile, the merchandise trade balance deteriorated from the previous month, recording a USD 15.1 billion shortfall in April (March 2021: USD 13.9 billion deficit; April 2020: USD 6.8 billion deficit). Lastly, the trend deteriorated slightly, with the 12-month trailing merchandise trade balance recording a USD 106.9 billion deficit in April, compared to the USD 98.6 billion deficit in March.

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