India’s merchandise exports rose 19.76 per cent to $42.22 billion in March 2022 as compared to $35.26 billion in March 2021, on account of healthy performance by sectors such as petroleum products, engineering, and leather. The trade deficit widened to $18.51 billion in March 2022 from $13.64 billion from the year-ago period.
As per the data released by the Commerce Ministry, Merchandise exports for the period April-March 2021-22 was $419.65 Billion as against $291.81 Billion during the period April-March 2020-21, registering a positive growth of 43.81 per cent. Non-petroleum and non-gems & jewellery exports in March 2022 were $30.67 Billion, registering a positive growth of 9.40 per cent over $28.03 Billion in March 2021. Non-petroleum and non-gems & jewellery exports during April-March 2021-22 was $315.11 Billion, an increase of 31.31 per cent over $239.98 Billion in April-March 2020-21.
On the other hand, merchandise imports in March 2022 were $60.74 Billion, which is an increase of 24.21 per cent over imports of $48.90 Billion in March 2021. Merchandise imports for the period April-March 2021-22 was $611.89 Billion as against $394.44 Billion during the period April-March 2020-21, registering a positive growth of 55.13 per cent. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $37.35 Billion in March 2022 with a positive growth of 35.44 per cent over $27.58 Billion in March 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $370.36 Billion in April-March 2021-22, recording a positive growth of 43.85 per cent, as compared to $257.47 Billion in April-March 2020-21.
