NEW DELHI: India’s overall export (merchandise plus services) has declined by 25.42 per cent during the period April-June, 2020 as compared to the corresponding period of the previous year, Union Minister of Commerce and Industry Piyush Goyal said in a written reply in the Lok Sabha today.
“The latest merchandise exports show a recovery, with export decline reducing to -12.66 per cent in August 2020. With the gradual opening up of the economy after the nation-wide lockdown, industrial activity has started to normalise,” Goyal said.
“The quick estimate of the Index of Industrial Production (IIP), released by the Ministry of Statistics and Programme Implementation for the month of June 2020 stands at 107.8 as compared to 53.6 and 89.5 in April 2020 and May 2020 respectively,” he added.
India’s overall exports (merchandise and services combined) in April-August 2020-21 are estimated to be USD 182.13 billion, exhibiting a negative growth of -19.32 per cent over the same period last year. The overall imports in April-August 2020-21 are estimated to be USD 167.94 billion, exhibiting a negative growth of -38.00 per cent over the same period last year.
According to government data, exports in August 2020 were USD 22.70 billion, as compared to USD 25.99 billion in August 2019, exhibiting a negative growth of -12.66 per cent. In rupee terms, exports were Rs 1,69,513.81 crores in August 2020, as compared to Rs 1,84,921.23 crores in August the last year, registering a negative growth of -8.33 per cent.
Imports in August 2020 were USD 29.47 billion (Rs 2,20,083.69 crore), which is -26.04 per cent lower in dollar terms and -22.38 per cent in rupee terms over imports of USD 39.85 billion (Rs 2,83,530.41 crore) in August 2019. (ANI)