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Exports Growth
Why is it in news?
- According to the official data, India’s exports rose 5.99% to $27.58 billion in September after contracting for six straight months.
Details:
- The increase is reported on account of growth in shipments of drugs and pharmaceuticals and ready-made garments.
- Exports were $26.02 billion in September 2019.
- Imports contracted 19.6% to $30.31 billion in September.
- The trade deficit narrowed to $2.72 billion, compared to a shortfall of $11.67 billion a year earlier.
- The outbound shipments had been contracting since March, due to the pandemic and the resultant fall in global demand.