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Merchandise exports and imports went down in March because of the Covid-19 outbreak. Exports last month were $21.41 billion, against $32.72 billion in March 2019, a contraction of 34.57 per cent. Imports in March 2020 were $31.16 billion, as against $43.72 billion in March 2019, a fall of 28.72 per cent.
The fall in March trade figures is only beginning of a trend that is likely to continue in the first quarter of this fiscal year and beyond, despite claims of ‘flattening the curve’ in some Covid-affected countries and talk of re-opening the economies that had gone into lockdown.
The International
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