The trade deficit in March 2022 was $ 18.69 billion, while it was $ 192.41 billion during entire 2021-22.
PTI
April 04, 2022 / 07:14 PM IST
Representational Image. Source: Reuters
India’s trade deficit rose 87.5 percent to $ 192.41 billion in 2021-22 as against $ 102.63 billion in the previous year, the government data showed on Monday.
While total exports during last fiscal year increased to a record high of $ 417.81 billion, imports too soared to $ 610.22 billion, leaving a trade gap of $ 192.41 billion.
“India’s merchandise import in April 2021-March 2022 was $ 610.22 billion, an increase of 54.71 percent over $ 394.44 billion in April 2020-March 2021 and an increase of 28.55 percent over $ 474.71 billion in April 2019-March 2020,” said a release by Ministry of Commerce and Industry.
The trade deficit in March 2022 was $ 18.69 billion, while it was $ 192.41 billion during entire 2021-22.
For the first time, India’s monthly merchandise exports exceeded $ 40 billion, reaching $ 40.38 billion in March 2022, an increase of 14.53 percent over $ 35.26 billion in the year-ago month, the release said.
It was up by 87.89 percent over $ 21.49 billion in March 2020.
The ministry said the country’s merchandise import last month stood at $ 59.07 billion, an increase of 20.79 percent over $ 48.90 billion in the year-ago period.
It was up 87.68 percent over $ 31.47 billion in March 2020.
During March 2022, the value of non-petroleum exports stood at $ 33 billion, registering a growth of 4.28 percent over $ 31.65 billion in the same month a year ago.
Non-petroleum exports grew by 74 percent from $ 18.97 billion in March 2020.
Non-petroleum import stood at $ 40.66 billion during March 2022, showing a rise of 5.26 percent over $ 38.63 billion in the year-ago month.
It was up by 89.79 percent from $ 21.42 billion in March 2020, showed the data from the ministry.
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