Indian Economy News

India’s merchandise exports in Jan 2024 registered 3.12 % growth at US$ 36.92 billion over US$ 35.80 billion in Jan 2023.

In January 2024, India's combined merchandise and services exports amounted to an estimated US$ 69.72 billion, marking a growth of 9.28% over January 2023. Conversely, imports for the same period totalled US$ 70.46 billion, reflecting a 4.15% positive growth. The overall trade balance in January 2024 indicated a deficit of US$ 0.74 billion. For the cumulative period of April-January 2023-24, India's combined exports stood at US$ 638.37 billion, with marginal negative growth (-0.19%) compared to the same period in 2022-23. Imports during this duration amounted to US$ 708.79 billion, resulting in an overall trade deficit of US$ 70.43 billion.

Examining merchandise trade specifically, January 2024 saw exports of US$ 36.92 billion and imports of US$ 54.41 billion, leading to a trade deficit of US$ 17.49 billion. Over April-January 2023-24, merchandise exports were US$ 353.92 billion, with imports reaching US$ 561.12 billion, resulting in a trade deficit of US$ 207.20 billion. The data underscores India's trade dynamics, highlighting strengths and challenges in its economic engagements on the global stage.

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