INDIA'S OVERALL EXPORTS REGISTERS GROWTH AT 2% IN APRIL 2023

India's overall exports (merchandise + services) growth at 2% in April 2023. India's overall exports were USD 63.75 billion in April 2022. It has now increased to 65.02 in April 2023.

- Dr S P Sharma

1. Merchandise Trade 

1.1 Exports

Merchandise exports for the month of April 2023 fell by (-) 12.7% as compared to April 2022. Merchandise exports in April 2023 are USD 34.66 billion compared to USD 39.7 billion in April 2022.

Under merchandise exports, 13 of the 30 key sectors exhibited positive growth in April 2023 as compared to the same period last year (April 2022) among which exports of oil meals, electronic goods, rice, oil seeds, ceramic products, Spices, Pharmaceuticals showed the highest growth.

At the same time, exports of textiles, plastic & linoleum continued to decline in April 2023 because of subdued demand due to recessionary effects in major economies.

1.2 Imports

Merchandise imports in April2023 are USD 49.9 billion, as compared to USD 58.06 billion in April 2022 thus showing a fall of (-) 14.1%.