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Exports fall once more on international commerce woes
India’s merchandise exports slid again into contraction mode in October as struggling international commerce continued to face headwinds from the COVID-19 pandemic.
Outbound shipments declined 5.4% from a 12 months earlier to $24.82 billion, after a quick respite in September when exports had expanded 6% to snap a six-month-long contraction.
Imports of products additionally declined by 11.5% final month, as per preliminary commerce information launched by the Commerce and Industry Ministry on Tuesday, taking the general imports between April to October to $182.29 billion, 36.3% decrease than the identical interval in 2019.
Merchandise exports within the first seven months of the present monetary 12 months amounted to $150.07 billion, a 19.1% contraction from the year-earlier interval.