US accounts for 18 per cent of Indian exports in FY24
The US accounted for 18 per cent of India's total exports in the financial year (FY) 24, as the country's exports to the world's largest economy continuously increased
India achieved a monthly value of merchandise exports amounting to $38.19 billion in April 2022, an increase of 24.22 per cent over $30.75 billion in April 2021.
The value of non-petroleum exports in April 2022 was $30.46 billion, registering a positive growth of 12.32 per cent over non-petroleum exports of $27.12 billion in April 2021.
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The value of non-petroleum and non-gems and jewellery exports in April 2022 was $27.16 billion, registering a positive growth of 14.38 per cent over non-petroleum and non-gems and jewellery exports of $23.74 billion in April 2021.
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Petroleum products (113.21 per cent), Electronic goods (64.04 per cent) and Chemicals (26.71 per cent) led the way in a high increase in exports during April 2022.
India’s merchandise imports in April 2022 were $58.26 billion, an increase of 26.55 per cent over $46.04 billion in April 2021. The value of non-petroleum imports was $38.75 billion in April 2022 with a positive growth of 9.87 per cent over non-petroleum imports of $35.27 billion in April 2021.
The value of non-oil, non-GJ (gold, silver and Precious metals) imports was $34.43 billion in April 2022 with a positive growth of 29.68 per cent over non-oil and non-GJ imports of $26.55 billion in April 2021.
The trade deficit in April 2022 was $20.07 billion.
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