Over 25% drop in exports in Q1

India’s overall exports (Merchandise and Services combined) in April-June2020-21 are estimated to be USD 101.02 billion, exhibiting a negative growth of (-)25.92 per cent over the same period last year. However, cumulative value of exports (excluding services) for the period April-June 2020-21 was USD 51.32 billion (Rs.3,89,016.27crore) as against USD81.08billion (Rs.5,63,984.51crore) during the period April-June 2019-20, registering a negative growth of (-)36.71per cent in dollar terms (negative growth of (-)31.02per cent in Rupee terms).

However in June, the export trends signaled some recovery signs with the decline narrowing at -12.41 percent. The total value of exports in the month stood as USD 21.91billion, as compared to USD 25.01billion in June 201. Major commodity groups which have recorded positive growth during June 2020 vis-à-vis June 2019 are: Iron Ore (63.11%), Oil seeds (50.48%), Rice (32.72%), Oil meals (27.36%), Spices (22.92%), Other cereals  (19.35%), Organic & inorganic chemicals (19.06%), Cereal preparations & miscellaneous processed items (13.8%), Fruits & vegetables (11.01%), Drugs & pharmaceuticals (9.89%), Tobacco (3.56%) and Coffee (2.58%).

Major commodity groups which have recorded negative growth during June 2020 vis-à-vis June 2019 ar:e Gems & jewellery (-50.06%), Leather & leather products (-40.47%), RMG of all textiles (-34.84%), Man-made yarn/fabs./made-ups etc. (-31.98%), Petroleum products             (-31.65%), Cashew (-27.02%), Meat, dairy & poultry products (-25.88%), etc.

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