Tatsat Chronicle Magazine

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Exports register 15.54% growth in April-September, but trade deficit shot up by 96%

Exports Trade
Photo: Pxhere

India has achieved monthly value of merchandise export in September 2022 amounting $32.62 billion, a decrease of 3.52% over $33.81 billion in September 2021. India’s merchandise export in April -September 2022-23 was $229.05 billion with an increase of 15.54% over USD 198.25 billion in April -September 2021-22, according to the latest numbers released by the government.

However, in the first six months of the current fiscal, trade deficit shot up to $149.47 billion, an increase of 96%, from $76.25 billion during the corresponding period last year. The declining value of the rupee against the US dollar have contributed to the burgeoning trade deficit of merchandise goods amidst declining foreign exchange reserves.

Value of non-petroleum exports in September 2022 was $26.54 billion, registering a negative growth of only 7.25% over non-petroleum exports of $28.62 billion in September 2021. The value of non-petroleum exports in April -September 2022-23 was $179.17 billion, an increase of 5.6% over $169.67 billion in April -September 2021-22.

Value of non-petroleum and non-gems and jewellery exports in September 2022 was $22.9 billion, registering a negative growth of 9.78% over $25.38 billion in September 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -September 2022-23 was $158.68 billion, an increase of 5.53% over $150.37 billion in April -September 2021-22.

India’s merchandise import in September 2022 was $59.35 billion, an increase of 5.44% over $56.29 billion in September 2021. India’s merchandise imports in April -September 2022-23 was $378.53 billion with an increase of 37.89% over $274.5 billion in April -September 2021-22.

Value of non-petroleum imports was $43.75 billion in September 2022 with a positive growth of 10.73% over non-petroleum imports of $39.51 billion in September 2021. The cumulative value of non-petroleum imports in April -September 2022-23 was $263.54 billion, showing an increase of 28.58% compared to non-oil imports of $204.97 billion in April -September 2021-22.

Value of non-oil, non-GJ (gold, silver & precious metals) imports was $36.5 billion in September 2022 with a positive growth of 16.78%over non-oil and non-GJ imports of $31.26 billion in September 2021. Non-oil, non-GJ (gold, silver & precious Metals) imports in April to September 2022-23 was $222.78 billion, recording a positive growth of 34.45%, as compared to non-oil and non-GJ imports of $165.7 billion in April -September 2021-22.

The trade deficit in September 2022 was $26.72 billion, was an improvement over trade deficit of $28.68 Billion in August 2022.

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