Exports were at an all-time high of $34 billion – the highest ever in terms of value and growth
The country’s trade deficit in goods widened to $14.12 billion in March 2021, as compared to $12.88 billion in February 2021, with exports recorded at an all-time high of $34 billion – the highest ever in terms of value and growth for any month in India’s history. Merchandise export in March 2021 was $34 billion, compared to $21.49 billion over the corresponding period last year, registering a growth of 58.23 per cent. Export excluding petroleum oil and lubricant (POL), also increased in March 2021, over the corresponding period last year, registering a growth of 62.3 per cent. (Also Read: Imports Rise 7% To $40.55 Billion In February, Trade Deficit Widens To $12.88 Billion )
On the other hand, imports in March 2021 were $ 48.12 billion, compared to $31.47 billion in the corresponding month last year, registering a growth of 52.89 per cent. Imports including petroleum also increased by 77.12 per cent.
Meanwhile, during the fourth week of March 2021, merchandise export was $10.7 billion, compared to $3.05 billion in the same month last year, registering a growth of 250.47 per cent. Export excluding petroleum oil and lubricant (POL), also increased in the fourth week last month by 280.01 per cent.
Similarly, imports during the fourth week of March 2021 was $14.21 billion, compared to $5.76 billion in the corresponding month last year, recording a growth of 146.78 per cent. Imports excluding petroleum also increased by 264.19 per cent.