India’s overall exports in September 2022 estimated at $61 billion, says Centre
The country’s exports rose by 4.82 per cent to USD 35.45 billion in September, even as the trade deficit widened to USD 25.71 billion, according to the data released by the commerce ministry on Friday.In its preliminary data, which was released in the first week of this month, the ministry stated that the country’s merchandise exports contracted by 3.52 per cent to USD 32.62 billion in September.According to the data released on Friday, imports during the month under review increased by 8.66 per cent to USD 61.61 billion. The trade deficit in September 2021 was USD 22.47 billion.During April-September 2022, exports recorded a growth of USD 16.96 billion to USD 231.88 billion. Imports rose by 38.55 per cent to USD 380.34 billion, while the trade deficit widened to USD 148.46 billion against USD 76.25 billion in September 2021, the data showed.Exports of key sectors such as engineering, RMG (ready-made garments) of all textiles, plastic, cashew and carpet recorded negative growth in September this year.Exports of engineering goods dipped by 10.85 per cent to USD 8.4 billion in September. Similarly, the export of RMG of all textiles declined by 18 per cent to USD 1 billion. Shipments of plastics decreased by 12.2 per cent to USD 660.66 million.However, exports of gems and jewellery, petroleum products, leather, pharmaceuticals, chemicals, and rice have recorded positive growth during the month.At imports front, inbound shipments of oil dipped by 5.38 per cent to USD 15.9 billion. Similarly, gold imports contracted by 24.62 per cent to USD 3.9 billion.Coal, coke and briquettes imports rose by 60.82 per cent to USD 3.5 billion in September.Further, the ministry said that the estimated value of services export for September 2022 is USD 25.65 billion, an increase of 18.72 per cent over September 2021. Imports too rose by 20 per cent to USD 15.10 billion.”The estimated value of services export for April-September 2022 is USD 150.43 billion, exhibiting a positive growth of 27.88 per cent vis-a-vis April-September 2021,” it said.
