india exports and imports data 2020-2021

 

Foreign Trade Policy of India India exports and imports data 2020-2021

india exports and imports data 2020-2021

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friends today's topic is india exports and imports data 2020-2021 which is most important topic for ssc, upsc,wbcs,ntpc, and also upcoming competitive examination.

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● Exports:

● Top export items: Petroleum products, precious stones, drug formulations & biologicals, gold

and other precious metals.

● Largest export destinations in 2019-20 (April-November): United States of America (USA),

followed by United Arab Emirates (UAE), China and Hong Kong.

● The merchandise exports to GDP ratio declined, entailing a negative impact on BoP position.

● Imports:

● Top import items: Crude petroleum, gold, petroleum products, coal, coke & briquittes.

● India’s imports continue to be largest from China, followed by USA, UAE and Saudi Arabia.

● Merchandise imports to GDP ratio declined for India, entailing a net positive impact on BoP.

india exports and imports data 2020-2021

Details about India’s Foreign Trade

2. Merchandise Trade: In the year 2020-21, there was decline in both exports and

imports. However, as seen above, the decline in imports was higher than decline in

exports. Due to this reason, the trade deficit (Exports-Imports) in 2020-21 was

lower in comparison to previous financial years.

3. Current Account Balance: The lower trade deficit was accompanied by increase in

the export of software services increased from India. On account of these reasons,

Current Account was set to register surplus for the first time in the last 17 years.

4. Top 3 Export commodities: Petroleum Products, Drug Formulations, Pearls and

Precious Stones.

5. Top 3 Export Destinations for India: USA, China, UAE.

6. Top 3 Import Commodities: Crude Oil, Petroleum products and Gold

7. Top 3 Import sources: China, USA, UAE 

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