For the month of March, exports have declined by 5.47 percent to $22.71 billion as shipments  of petroleum and engineering products weakened sharply on account of tepid global demand.

Exports, for the whole 2015-16 financial year ended March 31, lowered by 15.8 percent to five-year low of $261.13 billion on account of fragile global demand and low commodity prices.

During 2015-16, the imports dipped by 15.28 percent to $379.6 billion with a trade deficit of $118.45 billion. In 2014-15, the trade gap was $137.69 billion.

Since 2010-11, the level of exports and imports are the lowest. In 2010-11, the exports and imports were at $245.86 billion and $350.69 billion.

Read EquityPandit’s Nifty Outlook for this week