New Delhi: India’s overall exports (Merchandise and Services combined) in April 2023* is estimated to be USD 65.02 Billion, exhibiting a positive growth of 2.00 per cent over April 2022.
Overall imports in April 2023* is estimated to be USD 66.40 Billion, exhibiting a negative growth of (-) 7.92 per cent over April 2022.
Table 1: Trade during April 2023*
| April 2023
(USD Billion) |
April 2022
(USD Billion) |
||
| Merchandise | Exports | 34.66 | 39.70 |
| Imports | 49.90 | 58.06 | |
| Services* | Exports | 30.36 | 24.05 |
| Imports | 16.50 | 14.06 | |
| Overall Trade
(Merchandise +Services) * |
Exports | 65.02 | 63.75 |
| Imports | 66.40 | 72.11 | |
| Trade Balance | -1.38 | -8.37 |
Fig 1: Overall Trade during April 2023*
MERCHANDISE TRADE
- Merchandise exports in April 2023 were USD 34.66 Billion, as compared to USD 39.70 Billion in April 2022.
- Merchandise imports in April 2023 were USD 49.90 Billion, as compared to USD 58.06 Billion in April 2022.
Fig 2: Merchandise Trade during April 2023
- Non-petroleum and non-gems & jewellery exports in April 2023 were USD 25.76 Billion, compared to USD 28.37 Billion in April 2022.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April 2023 were USD 31.49 Billion, compared to USD 36.00 Billion in April 2022.
Table 2: Trade excluding Petroleum and Gems & Jewellery during April 2023
| April 2023
(USD Billion) |
April 2022
(USD Billion) |
|
| Non- petroleum exports | 28.19 | 31.84 |
| Non- petroleum imports | 34.72 | 40.42 |
| Non-petroleum & Non Gems & Jewellery exports | 25.76 | 28.37 |
| Non-petroleum & Non Gems & Jewellery imports | 31.49 | 36.00 |
Fig 3: Trade excluding Petroleum and Gems & Jewellery during April 2023
SERVICES TRADE
- The estimated value of services export for April 2023* is USD 30.36 Billion, as compared to USD 24.05 Billion in April 2022.
- The estimated value of services import for April 2023* is USD 16.50 Billion as compared to USD 14.06 Billion in April 2022.
Fig 4: Services Trade during April 2023*
- Riding on the high exports base of April 2022 India’s overall exports is projected to grow at 2 percent during April 2023.
- Under merchandise exports, 11 of the 30 key sectors exhibited positive growth in April 2023 as compared to the same period last year (April 2022). These include Oil Meals (95.14%), Electronic Goods (26.49%), Rice (24.01%), Oil Seeds (18.01%), Ceramic Products & Glassware (17.21%), Spices (14.44%), Drugs & Pharmaceuticals (10.45%), Fruits & Vegetables (9.96%), Tobacco (6.28%), Coffee (4.17%) and Cereal Preparations & Miscellaneous Processed Items (2.03%).
- Exports of Electronic goods increased by 26.49 percent during April 2023 at USD 2.11 Billion as compared to USD 1.67 Billion in April 2022.
- Textiles, Plastic & Linoleum exports continued to decline in April 2023 because of subdued demand due to recessionary effects in major economies.
- Under merchandise imports, 23 out of 30 key sectors exhibited negative growth in April 2023. These include Project Goods (-73.05%), Sulphur & Unroasted Iron Pyrites (-62.03%), Fertilisers, Crude & Manufactured (-45.86%), Gold (-41.48%), Vegetable Oil (-37.74%), Organic & Inorganic Chemicals (-31.36%), Metaliferrous Ores & Other Minerals (-28.93%), Coal, Coke & Briquettes, Etc. (-28.51%), Leather & Leather Products (-26.32%), Pearls, Precious & Semi-Precious Stones (-18.73%), Medicinal & Pharmaceutical Products (-18.33%), Textile Yarn Fabric, Made-Up Articles (-17.06%), Fruits & Vegetables (-16.87%), Transport Equipment (-14.89%), Petroleum, Crude & Products (-13.95%), Cotton Raw & Waste (-13.81%), Dyeing/Tanning/Colouring Materials. (-8.17%), Artificial Resins, Plastic Materials, etc. (-6.12%), Wood & Wood Products (-5.92%), Electronic Goods (-5.67%), Non-Ferrous Metals (-5.24%), Chemical Material & Products (-4.59%) and Newsprint (-2.9%).
- Services exports remain robust and projected to grow at 26.24 percent during April 2023 over April 2022.
