New Delhi: The data released by the commerce ministry on Friday showed that India’s merchandise exports rose by 4.82 percent to $35.45 billion in September, even as the trade deficit widened to $25.71 billion.
Imports during the month too grew 8.66 percent to $61.61 billion. The trade deficit in September 2021 stood at $22.47 billion.
From April-September 2022, exports recorded a growth of 16.96 percent to $231.88 billion. Imports rose by 38.55 percent to $380.34 billion, while the trade deficit widened to $148.46 billion against $76.25 billion in September 2021, the data showed.
Overall exports (merchandise and services) in September 2022 came in at $61.10 billion, exhibiting a growth of 10.24 percent over the same month last year.
Overall exports during April-September 2022 stood at $382.31 billion, showing a growth of 21.03 percent over the same period a year ago. The estimated value of services export for September 2022 is $25.65 billion, clocking a growth of 18.72 percent vis-a-vis September 2021.
The export of non-petroleum and non-gems and jewelry in April -September 2022-23 was USD 158.68 billion, an increase of 5.53% over the cumulative value of non-petroleum and non-gems and jewelry exports of USD 150.37 billion in April -September 2021-22.
Export in certain sectors has seen a decline on account of a slowdown in some developed economies and a consequential slowdown in demand. Certain measures to contain domestic inflation and domestic food security concerns have also impacted exports.
The trade deficit in September 2022 was USD 26.72 billion which is an improvement over the trade deficit of USD 28.68 Billion in August 2022.
(Vinayak)
