India’s Exports and Imports Plummet to Historic Low in April
Both exports and imports have fallen to a historic low in April 2020
The COVID-19 pandemic resulted in a lockdown situation in India since March 25, 2020 and consequently, both exports and imports have fallen to a historic low in April 2020, year-on-year. While imports contracted by 54.6% y/y to reach INR 1,3tn, exports contracted by 56.4% y/y to INR 789.5bn in April.
The pandemic has caused a major shock to global supply chains, as transportation has been suspended, especially for non-essential items.
Further data and analysis on India’s economy can be found on the CEIC India Premium Database.