Exports jump 60 % in March; falls over 7 pc to USD 290 bn in FY21

The country’s exports jumped by 60.29 per cent to USD 34.45 billion in March even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to USD 290.63 billion.  Imports too grew by 53.74 per cent to USD 48.38 billion in March, but dipped by 18 per cent to USD 389.18 billion during April-March 2020-21, according to the government data released on Thursday.

Trade deficit during March 2021 widened to USD 13.93 billion from USD 9.98 billion in March 2020. The trade deficit during the full fiscal, however, narrowed to USD 98.56 billion as against USD 161.35 billion during 2019-20, the data showed. Product categories that recorded positive growth during March include oilmeals (230.4 per cent), iron ore (194.89 per cent), jute manufacturing including floor covering (105.26 per cent), electronic goods (91.98 per cent), carpet (89.84 per cent), gems and jewellery (78.93 per cent), engineering goods (71.3 per cent), rice (66.77 per cent), spices (60.42 per cent), and meat, dairy and poultry products (52.79 per cent).