Merchandise exports rise by 58%; imports up 53% in March 2021

by Nidhi Bhati

India’s merchandise exports rose by 58 per cent to USD 34 billion in March 2021 as compared to the year-ago month, as per the data released by the Ministry of Commerce & Industry. This is the highest ever monthly export recorded by India. Imports increased by 53 per cent to USD 48 billion in March 2021 on a year-on-year basis. India is thus a net importer in March 2021, with a trade deficit of USD 14.1 billion, as compared to trade deficit of USD 9.98 billion in March 2020.