India Achieves All-Time High Annual Merchandise Exports Of $417.81 Billion In FY22

India achieved an all-time high annual merchandise exports of $417.81 billion in financial year 2021-22, an increase of 43.18 per cent over $291.81 billion in financial year 2020-21 and an increase of 33.33 per cent over $313.36 billion in financial year 2019-20, an official release said on Monday (4 April).

Further, for the first time, India’s monthly merchandise exports exceeded S40 billion, reaching $40.38 billion in March 2022, an increase of 14.53 per cent over $35.26 billion in March 2021 and an increase of 87.89 per cent over $21.49 billion in March 2020, the Commerce Ministry said in a release.

Meanwhile, India’s merchandise import in March 2022 was $59.07 billion, an increase of 20.79 per cent over $48.90 billion in March 2021 and an increase of 87.68 per cent over $31.47 billion in March 2020.

The trade deficit in March 2022 was USD 18.69 billion, while it was USD 192.41 billion during April 2021-March 2022, according to the Commerce Ministry.

The gems and jewellery export increased by 49.65 per cent to $38.942 billion in FY22, organic and inorganic chemicals export rose 31.98 per cent to $29.512 billion in the same financial year.

The exports of drugs and pharmaceuticals rose 0.13 per cent to $24.475 billion in FY22 and that of Ready Made Garments of all textiles increased by 29.86 per cent to $15.936 billion in the same period.

The electronic goods export witnessed a growth of 40.52 per cent to $15.588 billion in FY22, while export of cotton yarn/fabrics/madeups and handloom products rose by 55.11 per cent to $15.244 billion in the same financial year.

The plastic and linoelum exports rose by 31.09 per cent to $9.783 billion, in FY22 while rice exports rose by 9.02 per cent to $9.625 billion in the same fiscal.