Categories: Business

export plunge 60 percent in April due to corna crisis



new Delhi. The country's exports fell 60.28 percent to $ 10.36 billion in April due to the 'lockdown' (shutdown) implemented to prevent the corona virus. According to the data released on Friday by the Ministry of Commerce and Industry, imports also declined by 58.65 percent to $ 17.12 billion in April. A year ago it was $ 41.4 billion. According to the data, the trade deficit in April decreased to $ 6.76 billion, from $ 15.33 billion in the same month of 2019 a year earlier. The country's exports declined by 34.57 percent in March 2020.

The ministry said in the statement that the current global slowdown is the main reason for the decline in exports. This has been compounded by the Kovid-19 crisis. The supply chain and demand have been severely affected due to this epidemic. This has led to the cancellation of a large number of orders. Gems and jewelery exports declined by 98.74 percent during this period. Leather exports declined by 93.28 percent, petroleum products by 66.22 percent and engineering goods by 64.76 percent. Crude oil imports stood at $ 4.66 billion in April, down 59.03 percent from the same month last year.

This post was published on May 15, 2020 10:42 pm

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