India's merchandise exports rise marginally to $34.99 billion in April 2024

16 May 2024 Evaluate

The commerce ministry in its latest data has showed that India's merchandise exports rose marginally by 1.06 per cent to $34.99 billion in April 2024, as against $34.62 billion during the same period last year. Healthy growth in sectors such as electronics, chemicals, petroleum products and pharmaceuticals has helped in registering positive growth in exports despite global economic uncertainties. In March 2024, the exports had dipped to $41.68 billion from $41.96 billion a year ago.

According to the data, imports also increased by 10.25 per cent to $54.09 billion in April 2024 from $49.06 billion in April 2023 due to a significant jump in gold imports. The imports of precious metals more than doubled to $3.11 billion in April this year. Crude oil imports rose by 20.22 per cent to $16.5 billion. Trade deficit, or the gap between imports and exports, widened to a four-month high of $19.1 billion in April 2024 as against $14.44 billion in April last year.

It further stated that non-petroleum and non-gems & jewellery exports in April 2024 were $26.11 Billion, compared to $25.77 Billion in April 2023. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April 2024 were $32.72 Billion, compared to $32.13 Billion in April 2023.


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