India’s merchandise trade deficit expanded to USD 19.1 billion in April while it had narrowed to USD 15.6 billion in March, representing a 11-month low, the Ministry of Commerce & Industry said on Wednesday.
India’s total exports, Merchandise and Services combined, in April 2024 is estimated to be USD 64.56 Billion, exhibiting a positive growth of 6.88 per cent over April 2023.
Total imports in April 2024 is estimated to be USD 71.07 Billion, exhibiting a positive growth of 12.78 per cent over April 2023.
Non-petroleum and non-gems & jewellery exports in April 2024 were USD 26.11Billion, compared to USD 25.77Billion in April 2023 while the imports in April 2024 were USD 32.72Billion, compared to USD 32.13Billion in April 2023.
In terms of services, the estimated value of export for April 2024 is USD 29.57Billion, as compared to USD 25.78Billion in April 2023 while the import is USD 16.97Billion as compared to USD 13.96Billion in April 2023.
India experienced a significant surge in gold imports in April, more than doubling to USD 3.11 billion compared to USD 1.53 billion in March.
However, the country’s oil imports witnessed a slight dip, with imports totaling USD 16.46 billion in April compared to USD 17.23 billion in the previous month, as per the data shared by the ministry.
It further highlighted that in merchandise exports, 13 of the 30 key sectors exhibited positive growth in April, compared to the same period last year.
While in terms of imports, 14 out of 30 key sectors exhibited negative growth.