Exports up 24 per cent to USD 38 billion in April

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Exports up 24 per cent to USD 38 billion in April

May 03

19:27 2022

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by indadmin

NEW DELHI,MAY 3: Exports rose by 24.22 per cent to a monthly record high of USD 38.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as trade deficit widened to USD 20 billion during the month, the commerce ministry said on Tuesday.

Imports during the month under review grew by 26.55 per cent to USD 58.26 billion. The trade deficit in April 2021 was at USD 15.29 billion. Oil imports during the month rose by 81.21 per cent to USD 19.5 billion.

Coal, Coke and Briquettes imports jumped to USD 4.8 billion as against USD 2 billion in April 2021. Gold imports, however, dipped to USD 1.68 billion during the month under review from USD 6.23 billion in April 2021.

Engineering goods exports increased by 15.38 per cent to USD 9.2 billion while petroleum products exports soared 113.21 per cent to USD 7.73 billion. However, gems and jewellery exports dipped by 2.11 per cent to USD 3.3 billion.

Commenting on exports, FIEO President A Sakthivel said that the “highest-ever exports” of over USD 38 billion, during the first month of the fiscal, shows the continuous impressive performance of the exports sector.

“The benefits of the newly signed FTAs and the PLI Scheme will further help us in building on the milestones achieved during the previous fiscal,” he said.

-PTI