India’s Foreign Trade: October 2020

#GS3 #ECONOMY

India’s overall exports (Merchandise and Services combined) in April-October2020-21 are estimated to be USD 265.09Billion, exhibiting a negative growth of (-) 14.53per cent over the same period last year. 

  • Overall imports in April-October 2020-21 are estimated to be USD 248.58Billion, exhibiting a negative growth of (-)31.89per cent over the same period last year.
  •  MERCHANDISE: The trade deficit for October2020 was estimated at USD8.71Billion as against the deficit of USD11.75Billion inOctober2019, which is a decline of (-) 25.86 percent.
  • SERVICES: As per RBI’s Press Release dated 13th November 2020, the trade balance in Services (i.e. Net Services export) for September 2020 is USD7.15Billion. The estimated trade balance in October 2020* is USD 7.19Billion.
  • OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-October 2020-21 is estimated at USD16.52Billion as compared to the deficit of USD54.83Billion in April-October 2019-20.
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