Exports may dip 5.8%, imports by 11.3% in second half of 2020-21

New Delhi: The country's exports are expected to contract by 5.8 per cent and imports by 11.3 per cent during the second half of the current financial year, though implementation of several measures by the government would help support exports going forward, according to the Economic Survey 2021. With gradual recovery of economic activities, the survey said that imports and exports have picked up. During the first half of 2020-21 (April-September), exports dipped by 21.31 per cent to $125.25 billion while imports declined by 40 per cent to $148.69 billion.

"Net exports (difference between exports and imports) is expected to re-enter the negative territory in the second half. Exports are expected to decline by 5.8 per cent and imports by 11.3 per cent in the second half of the year," the survey said.

Second half of 2020-21 will be October 2020-March 2021 period. The financial year starts from April 1. Implementation of initiatives taken by the government such as rolling out of tax refund plan RoDTEP and production linked incentive scheme would help support exports going forward, the survey said.

The country's outbound shipments were hit hard due to the COVID-19 pandemic. Even before the pandemic, the exports were impacted by the slowdown in the global

demand.