India's exports declined 5.4 per cent to $24.82 billion in October due to fall in shipments of sectors like petroleum products, gems and jewellery, and leather, according to government data released on Tuesday. Exports during April-October 2020-21 stood at $150.07 billion, registering a decline of 19.05 per cent over the same period last year.
"India's merchandise exports in October 2020 were $24.82 billion, as compared to $26.23 billion in October 2019, showing a fall of 5.4 per cent," the Commerce and Industry Ministry said in a statement. Imports also fell 11.56 per cent to $33.6 billion during October.
"India was thus a net importer in October 2020 with a trade deficit of $8.78 billion, as compared to trade deficit of $11.76 billion, an improvement by 25.34 per cent," it added.