Exprot and Import of goods and services for the year 2019-20:
Financial year 2019-20 saw a global economic slowdown, which was aggravated in the last two months of the financial year by the onset of the COVID pandemic, which saw exports declining by (-)5.1 percent from the peak of US$ 330.1 billion in 2018-19 to US$ 313.4 billion in 2019-20. Imports during 2019-20 also registered a decline of (-)7.7 percent from US$ 514.1 billion in 2018-19 to US$ 474.7 billion in 2019-20.
Services exports in 2019-20 stood at US$ 213.2 billion as compared to US$ 208 billion recorded in 2018-19, which is a growth of 2.5 per cent. Services imports in 2019-20 increased by 1.8 per cent to US$ 128.3 billion, compared to US$ 126.1 billion in 2018-19.