India’s Oct merchandise exports fall by over 5% (Roundup)

New Delhi, Nov 13 : India’s merchandise exports in October declined by over 5 per cent on a year-on-year basis.
As per the Ministry of Commerce and Industry’s data released on Friday, merchandise worth $24.89 billion were shipped-out during the month under review as against $26.23 billion exported in the same period of the previous year.
In terms of sequential movement, the country’s merchandise exports in September had risen by 5.99 per cent to $27.58 billion from $26.02 billion exported in the same period of the previous year.
Accordingly, major commodities which have recorded negative growth during October 2020 vis-a-vis October 2019 were ‘petroleum products, cashew, gems and jewellery, leather and leather products’ amongst others.
“Non-petroleum and non-gems and jewellery exports in October 2020 were USD 20.31 Billion, as compared to USD 19.07 billion in October 2019, registering a positive growth of 6.51 per cent,” the ministry said.
Similarly, India’s imports declined, it fell by (-) 11.53 per cent to $33.61 billion in October from $37.99 billion reported for the corresponding month of 2019.