The new financial year began with record exports of $38.19 billion in April 2022, a 24.22 per cent jump over $30.75 billion in April 2021. The jump in April exports continued the record-breaking 2021-22 performance, resulting in the highest-ever exports in April.
The number was, however, down from $42.22 billion a month back. The merchandise trade deficit widened to $20.07 billion from $18.51 billion during the period.
In April 2022, the value of non-petroleum exports was $30.46 billion, an increase of 12.32 per cent over non-petroleum exports of $27.12 billion during the period last year. Moreover, the value of non-petroleum and non-gems and jewellery exports in April 2022 was $27.16 billion.
In April 2021, the exports of non-petroleum and non-gems and jewellery were $23.74 billion.
The leaders in exports in the last month were petroleum products (113.21 per cent), electronic goods (64.04 per cent) and chemicals (26.71 per cent)
India’s merchandise imports in April 2022 also witnessed a jump of 26.55 per cent at $58.26 billion. Imports were $46.04 billion in April 2021. In April 2022, the value of non-petroleum imports was $38.75 billion with a positive growth of 9.87 per cent over non-petroleum imports in April 2021.
Moreover, non-oil, non-GJ (gold, silver & Precious metals) imports were at $34.43 billion in April 2022, a 29.68 rise over non-oil and non-GJ imports of $26.55 billion in April 2021.
Meanwhile, India’s total exports jumped over 34 per cent to touch an all-time high of $669.65 billion in FY22, according to data released by the Commerce Ministry on April 13. In March 2022, India’s overall exports grew by 15.51 per cent to $64.75 billion over the same period last year.
