Economy

Exports see growth after shrinking for six months

Representational image.   | Photo Credit: AP

After contracting for six straight months, India’s exports rose 5.99% to $27.58 billion in September on account of growth in shipments of drugs and pharmaceuticals and ready-made garments, as per the government data.

Exports were $26.02 billion in September 2019. Imports contracted 19.6% to $30.31 billion in September.

It was $37.69 billion a year earlier. The trade deficit narrowed to $2.72 billion, compared to a shortfall of $11.67 billion a year earlier. Gold imports fell by almost 53% to $601.43 million in September.

Major export commodities that grew in September include iron ore (109.7% at $303.42 million), ready-made garments (10.2% at $1.19 billion), rice (93.9% at $725.14 million), and drugs and pharmaceuticals (24.4% at $2.24 billion).

Since March, outbound shipments had been contracting due to the pandemic and the resultant fall in global demand.

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Printable version | Dec 4, 2020 2:04:06 AM | https://www.thehindu.com/business/Economy/exports-see-growth-after-shrinking-for-six-months/article32865506.ece

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