Exports in India
India - Exports
Exports and imports plummet in March
Merchandise exports decreased 34.6% in March from the same month a year earlier, contrasting the 2.9% increase in February and amounting to a total value of USD 21.4 billion. The decrease in shipments in March was broad based across the economy, with 29 out of the 30 major categories of shipments registering falls in the month, and due to the coronavirus pandemic hitting external demand. Merchandise imports, meanwhile, slumped 28.7% in March, contrasting the 2.5% increase in February and amounting to USD 31.2 billion; imports of oil, which constitute around one-third of total merchandise imports, fell 15.0%.
The merchandise trade deficit narrowed to USD 9.8 billion from the USD 11.0 billion shortfall in the same month a year earlier. The 12-month trailing sum of the trade deficit narrowed to USD 152.9 billion in March from USD 154.1 billion in February.
Our panelists forecast that exports and imports will expand 4.1% and 4.7% in FY 2020, respectively, bringing the merchandise trade deficit to USD 175.0 billion. In FY 2021, our panel projects exports and imports to expand 6.9% and 6.9%, respectively, resulting in a merchandise trade deficit of USD 177.0 billion.
India - Exports Data
|Exports (USD billion)||262||275||305||331||314|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.50||-0.04 %||Jan 01|
|Exchange Rate||71.23||-0.09 %||Jan 01|
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September 15, 2020
Merchandise exports shrank 13.1% year-on-year in August (July: -10.2% year-on-year).
September 3, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit rose to 46.0 in August from 37.2 in July.
August 31, 2020
Economic output plummeted 23.9% year-on-year in the second quarter of CY 2020 (FY Q1 2020), contrasting the 3.1% expansion seen in the first quarter (FY Q4 2019) and marking the worst reading since current records began in 1996.
August 4, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit eased marginally to 37.2 in July from 37.8 in June.
July 3, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit climbed to 37.8 in June from 14.8 in May.