Merchandise imports surge in July yoy; exports at same level
India has achieved merchandise export of $35.24 billion in July 2022, almost at similar levels of $35.51 billion in July 2021. This has been achieved despite measures to control inflation and the continued disruptions of supply chains due to Covid and the Russia-Ukraine conflict.
Value of non-petroleum exports in July 2022 was $29.82 billion, registering a positive growth of only 0.48% over non-petroleum exports of $29.67 billion in July 2021. The cumulative value of non-petroleum exports in April-July 2022-23 was $123.90 billion, an increase of 10.3% over $112.32 billion in April -July 2021-22.
India’s merchandise import in July 2022 was $66.26 billion, an increase of 43.59% over $46.15 billion in July 2021. Merchandise imports in April-July 2022-23 were $256.43 billion with an increase of 48.12% over $173.12 billion in April-July 2021-22.
Value of non-petroleum imports was $45.13 billion in July 2022 with a positive growth of 33.74% over non-petroleum imports of $33.74 billion in July 2021.The cumulative value of non-petroleum imports in April-July 2022-23 was $174.39 billion, showing an increase of 34.35% compared to non-oil imports of $129.81 billion in April-July 2021-22.
The trade deficit in July 2022 was $31.02 billion, while it was $100.01 billion during April-July 2022-23, informed an official release.
Source: Exim News Service: New Delhi, Aug. 4