ICCK

As widely anticipated, the rapid spread of coronavirus pandemic across the globe has started showing its symptoms in country's merchandise trade. The month of March recorded the steepest year-on-year fall of 34.6 per cent since 2015 in merchandise exports to $21.4 billion, as per the data released by the Ministry of Commerce and Industry.

Among the major export commodities, oil meals recorded a fall of 69.9 per cent, meat, dairy and poultry products of 45.5 per cent, engineering goods of 42.3 per cent, gems and jewellery of 41.1 per cent, leather and leather products of 36.8 per cent, and petroleum products of 31.1 per cent.

India's import bill on the other hand, witnessed its second biggest fall of 28.7 per cent to $31.2 billion, during the period. Crude oil imports fell by 15 per cent while non-oil imports declined by 33.8 per cent. The non-oil commodities that recorded a fall in imports include pearls, precious and semi-precious stones (-53.5 per cent), machinery, electrical and non-electrical (-31.7 per cent), electronic goods (-29.1 per cent) and coal, coke and briquettes (-23.5 per cent).

Read More: https://www.businesstoday.in/current/economy-politics/coronavirus-scare-india-merchandise-exports-fell-to-a-61-month-low-at-34-6-percent-in-march/story/401133.html