Exports in December 2019 was USD 27.11 billion, while imports stood at USD 39.5 billion. In November 2020, the exports were down by 8.74 per cent.
In April-December 2020-21, the country’s merchandise exports contracted by 15.8 per cent to USD 200.55 billion, as compared to USD 238.27 billion in the same period of 2019-20.
Imports during the nine months of the current fiscal declined by 29.08 per cent to USD 258.29 billion, as against USD 364.18 billion in April-December 2019-20.
“India is thus a net importer in December 2020, with a trade deficit of USD 15.71 billion, as compared to a trade deficit of USD 12.49 billion, widened by 25.78 per cent,” the ministry said in a statement.
In December 2020, oil imports declined by 10.37 per cent to USD 9.61 billion. During April-December this fiscal, the imports dipped by 44.46 per cent to USD 53.71 billion.