Business
India's Overall Exports Rise By 6.75 Per Cent To $57.47 Billion In August; Trade Deficit Widens
export (representative image) (GettyImages)
India's overall (Merchandise and Services combined) exports rose 6.75 per cent to $57.47 billion in August 2022, Commerce Ministry data showed on Wednesday (14 September).
The data showed that overall imports in August 2022 increased 33.15 per cent to $75.84 Billion in August.
Meanwhile, the trade deficit widened to 18.37 billion dollar during August.
During April-August 2022-23, merchandise exports registered a growth of 17.68 per cent to $193.51 billion. Merchandise Imports during the five-month period of this fiscal grew by 45.74 per cent to $318.03 billion.
Trade deficit widened to $124.52 billion in April-August this fiscal as against $53.78 billion in the same period last year.
The services exports during April-August 2022-23 rose 23.2 per cent to $118.3 billion while the imports registered a growth of 35.81 per cent to 72.88 billion during the five-month period of the current fiscal.
Crude oil imports in August this year increased by 87.44 per cent to $17.7 billion. However, gold imports dipped by about 47 per cent to $3.57 billion, the data showed.
On the other hand, silver imports jumped to $684.34 million during the month under review from $15.49 million in the same month last year.
Rise in import values in August has been witnessed in major commodity groups such as coal, coke & briquettes (133.64 per cent to $4.5 billion), chemicals (43 per cent to about $3 billion), and vegetable oil (41.55 per cent to about $2 billion).
Further, export products that recorded positive growth in August included electronic goods, rice, oil meals, tea, coffee and chemicals.
Export of petroleum products rose by 22.76 per cent to $5.71 billion. Similarly, chemicals and pharma shipments increased by 13.47 per cent and 6.76 per cent to $2.53 billion and $2.14 billion respectively.
(With inputs from PTI)
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
