Indian Economy News

Share of petro products in exports touch record high at 21.2% in April-August

  • IBEF
  • September 15, 2022

The percentage of India's petroleum products in exports reached its highest level ever during the months of April-August at 21.2%, thanks to high international energy prices and less expensive crude oil obtained from Russia.

While non-petroleum exports increased by just 8.1% from April-August, overall exports jumped by 17.68% as a result of the rise in petroleum products, which grew by 76%. While non-petroleum exports fell 1.8% in August, overall outbound shipments increased 1.6% as a result of a gain of 22.8% in petroleum exports. The UAE received the greatest share of India's petroleum exports (9.1%), followed by the Netherlands (8.8%), Togo (5.8%), the US (5.7%), and Singapore (5.4%), according to the disaggregated trade data accessible till July.

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