Merchandise exports begin the fiscal with marginal growth
Merchandise exports in April 2024 were valued at USD 34.99 billion, as compared to USD 34.62 billion in April 2023. The growth was a marginal 1.08 per cent, as per data released on Wednesday by the Ministry of Commerce and Industry.
Merchandise imports in April 2024 were valued at USD 54.09 billion, as compared to USD 49.06 billion in April 2023.
Non-petroleum and non-gems & jewellery exports in April 2024 were USD 26.11 billion, compared to USD 25.77 billion in April 2023.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April 2024 were USD 32.72 billion, compared to USD 32.13 billion in April 2023.
In merchandise exports, 13 of the 30 key sectors exhibited positive growth in April 2024 as compared to same period last year (April 2023). These include Electronic Goods (25.8%), Tea (25.74%), Organic & Inorganic Chemicals (16.75%), Coffee (15.87%), Tobacco (13.22%), Spices (12.27%), Drugs & Pharmaceuticals (7.36%), Cotton Yarn/Fabs./Made-Ups, Handloom Products etc. (6.65%), Carpet (5.64%), Cereal Preparations & Miscellaneous Processed Items (5.33%), Petroleum Products (3.1%), Plastic & Linoleum (2.99%) and Handicrafts Excl. Hand Made Carpet (2.36%).
In merchandise imports, 14 out of 30 key sectors exhibited negative growth in April 2024. These include Sulphur & Unroasted Iron Pyrites (-71.75%), Pearls, Precious & Semi-Precious Stones (-21.12%), Cotton Raw & Waste (-16.31%), Wood & Wood Products (-14.11%), Coal, Coke & Briquettes, etc. (-11.71%), Artificial Resins, Plastic Materials, etc. (-10.26%), Fertilisers, Crude & Manufactured (-8.3%), Iron & Steel (-8.28%), Chemical Material & Products (-7.69%), Organic & Inorganic Chemicals (-5.19%), Machinery, Electrical & Non-Electrical (-3.54%), Dyeing/Tanning/Colouring Materials (-2.63%), Pulp and Waste Paper (-2.2%) and Transport Equipment (-0.22%).
Source: Exim News Service: New Delhi, May 15