The commerce ministry in its latest data has showed that India’s merchandise exports fell by 16.65 per cent to $ 29.78 Billion in October 2022 as compared to $35.73 Billion in October 2021. Merchandise imports in October 2022 were $56.69 Billion, which is a decrease of 5.68 per cent over imports of $53.64 Billion in October 2021. The trade deficit has widened to $26.91 Billion in October 2022 as against $17.91 Billion in October 2021.
As per the data, Merchandise exports for the period April-October 2022 were $263.35 Billion as against $233.98 Billion during the period April-October 2021. Merchandise imports for the period April-October 2022 were $436.81 Billion as against $328.14 Billion during the period April-October 2021. The merchandise trade deficit for April-October 2022 was estimated at $173.46 Billion as against $94.16 Billion in April-October 2021.
Data further showed that Non-petroleum and non-gems & jewellery exports in October 2022 were $21.72 Billion, compared to $26.15 Billion in October 2021. Non-petroleum and non-gems & jewellery exports during April-October 2022 was $182.05 Billion, as compared to $176.52 Billion in April-October 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $34.40, compared to $32.88 Billion in October 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $258.30 Billion in April-October 2022 as compared to $198.58 Billion in April-October 2021.
