InvestorQ : Have the exports improved for the month of March 2021? How does the overall trade look like for March?
Ria Jain made post

Have the exports improved for the month of March 2021? How does the overall trade look like for March?

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Dia Deshpande answered.
3 months ago
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As you know, the government now releases the basic trade data on the first of each month for the previous month even though the detailed component reporting is only done around the middle of the month by the Ministry of Commerce. After the exports stagnated around the $27 billion mark for quite a few months, there was finally a break out in the month of March on the upside. This could also be due to bunching of reporting in the last month.

Merchandise exports were up by a whopping 58% at $34 billion, a sharp departure from the median of around $25 billion in the last few months. That is an encouraging signal. However, exports for FY21 were lower by 7.4% compared to FY20, which can be attributed to the lag effect of the lockdown. Merchandise imports were also up at Rs.48.12 crore for the month of March 2021 on the back of higher oil imports.

What is really gratifying is that the total trade value has crossed the $80 billion after a very long gap and that is critical for jobs and also for MSMEs as well as for the GDP numbers. Imports for FY21 were 18.1% lower on a yoy basis while the trade deficit for Mar-21 was broadly flat at $14.12 billion. Non-petroleum exports were up 62.3% at $30.79 billion and this could possibly be attributed to the Atma Nirbhar thrust in recent months.

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