Indian Economy News

Exports up 24% to $38 bn in April; trade deficit widens to $20 bn

Even as the trade deficit widened to US$ 20 billion in April, exports surged by 24.22% to a monthly record high of US$ 38.19 billion, thanks to strong performance by industries such as petroleum products, electronic goods, and chemicals.  Imports increased by 26.55% to US$ 58.26 billion in the April 2022.

Oil imports increased by 81.21% to US$ 19.5 billion during the month. Imports of coal, coke, and briquettes increased to US$ 4.8 billion in April 2022, up from US$ 2 billion in April 2021. Imports of gold, on the other hand, fell to US$ 1.68 billion in April 2022 from US$ 6.23 billion in April 2021.  Exports of engineering items climbed 15.38% to US$ 9.2 billion, while exports of petroleum products increased 113.21% to US$ 7.73 billion.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.