
Goods exports grow 6.21% in October
Merchandise imports for October shot up 12.3% to $65.03 billion, as compared to $57.91 billion in October 2022.
Merchandise imports for October shot up 12.3% to $65.03 billion, as compared to $57.91 billion in October 2022.
The services exports surged 13.43% year-on-year to $28.70 billion during the month under review as against $25.30 billion in the same period last year
The country’s merchandise imports fell by 15% year-on-year to $53.84 billion as against $63.37 billion in the same period last year.
Exports as % of GDP have remained rangebound in recent years.
The decline in exports was partially softened by the resilience shown in services exports
Merchandise exports declined by 22% to $32.97 billion in June as against $42.28 billion in the same period last year.
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Services exports are booming, significantly reducing trade deficits generated by merchandise trade, but it remains a blind spot for policymakers with little data, analysis or efforts to push
India's overall trade with neighbouring China declined 1.5% to $113.83 billion in FY23 vs $115.42 billion in FY22
Merchandise exports dropped 13.9% year-on-year to $38.38 billion in March while imports fell 7.9% year-on-year to $58.11 billion.