NEW DELHI : Weighed by the impact of coronavirus (COVID-19) outbreak, India's exports to China and Hong Kong put together slumped 41% just in February while its imports declined more than 10%.
However, a sudden jump in exports to United States and United Arab Emirates during the month meant India's overall exports turned positive for the first time in seven months.
Official trade data reviewed by Mint, which is yet to be released, showed India’s exports to China dropped 13.7% in February to $1.1 billion while shipments to Hong Kong declined 62.4% to $681 million.
Similarly, imports from China due to supply chain disruptions fell 13.3% to $4.4 billion while imports from Hong Kong which was less affected by COVID-19 outbreak picked up 3.7%