India sees $14.20 billion trade surplus in April-August

Exports in August 2020 were $22.70 billion, as compared to $25.99 billion in August 2019, exhibiting a negative growth of (-) 12.66 per cent. Cumulative value of exports for the period April-August 2020-21 was $97.66 billion (Rs 7,35,835.87 crore) as against $133.14 billion (Rs 9,28,243.85 crore) during the period April-August 2019-20.

Imports in August 2020 were $29.47 billion (Rs 2,20,083.69 crore). Cumulative value of imports for the period April-August 2020-21 was $118.38 billion (Rs 8,91,978.43 crore) as against $210.39 billion (Rs 14,66,659.90 crore) during the period April-August 2019-20, registering a negative growth of (-) 43.73 per cent.

Trade deficit in August 2020 was estimated at $6.77 billion as against $13.86 billion in August 2019, which is a decline of (-) 51.14 per cent.

As per the latest press release by RBI dated 15th September 2020, the estimated value of services export for August 2020 is $17.23 billion. Total services export value for the period of April-August 2020 is $84.47 billion registering a de-growth of nearly 9 per cent.

Service imports in July 2020 were $10.05 billion (Rs 75,345.87 crore) registering a negative growth of (-) 21.69 per cent in dollar terms, vis-a-vis July 2019. The estimated value of service import for August 2020 is $10.31 billion.

The trade balance in Services (i.e. Net Services export) for April-August 2020 is $34.91 billion.