Covid-19 fallout: India’s exports shrink by a record 60.28pc in April

India's exports contracted by a record 60.28 percent to $10.36 billion in April amid the economic fallout from the coronavirus pandemic, official data showed today.

Imports too tumbled by 58.65 percent to $17.12 billion in April from USD 41.4 billion in the same month last year, according to the data from the commerce and industry ministry.

The trade deficit narrowed to $6.76 billion in April this year, which stood at $15.33 billion in April 2019.

The country's exports had contracted by 34.57 percent in March this year, our New Delhi correspondent reports.

"The decline in exports has been mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis. The latter resulted in large-scale disruptions in supply chains and demand resulting in cancellation of orders," the ministry said in a statement.

Major commodity groups which recorded negative export growth in April were gems and jewellery (-98.74 percent), leather (-93.28 percent), petroleum products (-66.22 percent) and engineering goods (-64.76 percent).

Oil imports in April stood at $4.66 billion, which was 59.03 percent lower compared to the same month last year.