New Delhi: India’s merchandise exports slumped 34.6% in March while imports declined 28.7% as countries sealed their borders to combat Covid-19 outbreak.
India's exports dipped by 34.6 per cent to USD 21.41 billion in March, while it declined by 4.78 per cent to USD 314.31 billion for 2019-20.
Trade deficit narrowed to USD 9.76 billion in march this year from USD 11 billion in the same month last year. It was USD 152.88 billion in April-March 2019-20 compared to USD 184 billion in the previous fiscal. "The decline in exports has been mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis.