Exports up 30.7% to $40.19 bn in April; trade deficit widens

NEW DELHI: India’s merchandise exports surged 30.7 per cent to $40.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as trade deficit widened to $20.11 billion during the month, the commerce ministry said on Friday.

Imports during the month under review grew by 30.97 per cent to $60.3 billion.

The trade deficit in April 2021 was at $15.29 billion.

“After a record performance in the last financial year, the exports continued robust growth in April, 2022 with merchandise exports scaling a new high by crossing $40 billion,” it said.

Petroleum and crude oil imports during the month rose by 87.54 per cent to $20.2 billion. Coal, Coke and Briquettes imports jumped to $4.93 billion, as against $2 billion in April 2021.

Gold imports, however, dipped by about 72 per cent to $1.72 billion during the month under review, from $6.23 billion in April 2021.

Engineering goods exports increased by 15.38 per cent to $9.2 billion, while petroleum products exports soared 113.21 per cent to $7.73 billion.