India’s exports rise 30.7% to $40.19 billion in April
India’s merchandise exports rose by 30.7 per cent year-on-year to $40.19 billion in April 2022 as compared to $30.75 billion in the corresponding month of the last year, led by strong growth in sectors like petroleum products, electronic goods and chemicals, the government data showed on Friday.
India’s merchandise imports in April 2022 surged to $60.30 billion, which is an increase of 30.97 per cent over imports of $46.04 billion in April 2021, according to data released by the Union Ministry of Commerce & Industry. The merchandise trade deficit in April 2022 surged to $20.11 billion as against $15.29 billion in April 2021, which is an increase of 31.50 per cent.
After a record performance in the last financial year, the exports continued robust growth in April, 2022 with merchandise exports scaling a new high by crossing $40 billion. This is an increase by over 30 per cent vis-a-vis April 2021, the ministry said.
Petroleum products (127.69 per cent), Electronic goods (71.69 per cent), cereals (60.83 per cent), coffee (59.38 per cent), processed food (38.82 per cent) and leather products (36.68 per cent) exports led the way in achieving the record performance.
Services performed extremely well to reach $27.60 billion, which is an increase of 53 per cent over April 2021.
India’s overall exports (Merchandise and Services combined) in April 2022 are estimated to be $67.79 billion, exhibiting a growth of 38.90 per cent over the same period last year.
Overall imports in April 2022 are estimated to be $75.87 billion, exhibiting a positive growth of 36.31 per cent over the same period last year.
Non-petroleum and nongems & jewellery exports in April 2022 were $28.46 billion, registering a positive growth of 19.89 per cent over non-petroleum and non-gems & jewellery exports of $23.74 billion in April 2021.
Non-petroleum, nongems & jewellery (gold, silver & precious metals) imports were $35.68 billion in April 2022 with a positive growth of 34.37 per cent over Non-petroleum, nongems & jewellery imports of $26.55 Billion in April 2021, the Ministry of Commerce & Industry data showed.