India’s merchandise exports jumped by a robust 17.25 per cent to $39.20 billion during October this year, as compared to $33.43 billion during the same month last year, figures released by the Commerce and Industry Ministry on Thursday showed.
The share of engineering goods in India's total merchandise exports increased to 27.20 per cent in August, from 26.60 per cent in July, a report showed on Thursday.
Merchandise exports during July 2024 were USD 33.98 Billion as compared to USD 34.49 Billion in July 2023 while the imports were USD 57.48 Billion as compared to USD 53.49 Billion.
India has crossed total exports of $750 billion for the financial year 2022-23 and the final figure was expected to cross $765 billion, Union Commerce and Industry Minister.
The merchandise exports in May 2022 were $38.94 Billion as compared to $32.30 Billion in May 2021, exhibiting a positive growth of 20.55 per cent. The estimated value of services export for May 2022 is $23.28 Billion, exhibiting a positive growth of 30.32 per cent vis-a-vis May 2021 ($17.86 Billion).
The rise in India's exports could be attributed largely to the low base effect, pick-up in growth in advanced economies and the resultant increase in global import demand, India Exim Bank said
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