India’s exports rise by 1.62 per cent in August; trade deficit widens

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New Delhi [India], September 15 (ANI): India’s merchandise exports rose by 1.62 per cent to $33.92 billion in August 2022 as compared to $33.38 billion recorded in the same month last year while imports surged by 37.28 per cent year-on-year leading to widening in the trade deficit, as per the government data released on Wednesday.

India’s overall exports (Merchandise and Services combined) in August 2022 are estimated to be $57.47 billion, exhibiting a positive growth of 6.75 per cent over the same period last year, according to data released by the Ministry of Commerce and Industry.

Overall imports in August 2022 are estimated to be $75.84 billion, exhibiting a positive growth of 33.15 per cent over the same period last year.

Merchandise exports in August 2022 were $33.92 billion, as compared to $33.38 billion in August 2021, exhibiting a positive growth of 1.62 per cent. Merchandise imports in August 2022 were $61.90 billion, which is an increase of 37.28 per cent over imports of $45.09 billion in August 2021.

The merchandise trade deficit in August 2022 was estimated at $27.98 billion as against $11.71 billion in August 2021, which is an increase of 138.88 per cent.

India’s overall exports (Merchandise and Services combined) in April-August 2022 are estimated to be $311.82 billion, exhibiting a positive growth of 19.72 per cent over the same period last year. Overall imports in April-August 2022 are estimated to be $390.91 billion, exhibiting a positive growth of 43.78 per cent over the same period last year.

Merchandise exports for the period April-August 2022 were $193.51 billion as against $164.44 billion during the period April-August 2021, registering a positive growth of 17.68 per cent.

Merchandise imports for the period April-August 2022 were $318.03 billion as against $218.22 billion during the period April-August 2021, registering a positive growth of 45.74 per cent.

The merchandise trade deficit for April-August 2022 was estimated at $124.52 billion as against $53.78 billion in April-August 2021, which is an increase of 131.52 per cent.

Non-petroleum and non-gems & jewellery exports in August 2022 were $24.88 billion, registering a negative growth of (-) 1.64 per cent over non-petroleum and non-gems & jewellery exports of $25.29 billion in August 2021.

Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $37.53 billion in August 2022 with a positive growth of 40.63 per cent over Non-petroleum, non-gems & jewellery imports of $26.69 billion in August 2021. (ANI)

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