India's exports in September 2020 were USD27.58 Billion, as compared to USD 26.02Billion in September 2019, exhibiting a positive growth of 5.99 percent. Imports in September 2020 were USD 30.31Billion, which is a contraction of 19.60 per cent lower in Dollar terms, as per the government data released on Thursday. It was $37.69 billion in the same month last year. The trade deficit narrowed to USD 2.72 billion, compared to a shortfall of USD11.67 billion in the year ago-month. Gold imports declined by nearly 53 per cent to USD 601.43 million in September. During the April-September 2020 period, exports declined by 16.66 per cent to USD 221.86 billion, while imports fell 35.43 per cent to USD 204.12 billion over the same period last year. Major export commodities that have recorded positive growth during September include iron ore, readymade garments, rice and drugs and pharmaceuticals.
The data further revealed that non-petroleum and non-gems and jewellery exports in September stood at USD 21.27 billion, as compared to USD 19 billion in the same period previous fiscal, registering a growth of 11.94 per cent. Oil imports dipped 35.88 per cent to USD 5.83 billion in September. During April-September, it declined 51.14 per cent to USD 31.86 billion. Taking merchandise and services together, the overall trade surplus for April-September is estimated at USD17.74 billion as compared to the deficit of USD 49.91 billion in the year-ago period.
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