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Lockdown effect: India's exports in April contract by 60% to $10.3 bn

city New Delhi India covid-19 outbreak economy crisis
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Out of 30 major exporting items, only iron ore (17.5%) and pharmaceuticals (0.25%) recorded growth, while among top import items, all posted declines New Delhi: India’s trade basket contracted to a record low in April with merchandise exports falling 60.3% to $10.3 billion and imports shrinking 58.65%, leaving a trade deficit of $6.8 billion.

Out of 30 major exporting items, only iron ore (17.5%) and pharmaceuticals (0.25%) recorded growth, while among top import items, all posted declines.

In March, India’s merchandise exports slumped by a record 34.6% while imports declined 28.7% as countries sealed their borders to combat the covid-19 outbreak.

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