Merchandise exports in August steady despite sluggish global growth
Merchandise exports in August 2023 were valued at $34.48 billion, as compared to $37.02 billion in August 2022, marginally lower but steady despite sluggish global growth. Merchandise imports in August 2023 were lower at $58.64 billion, as against $61.88 billion in August 2022.
Merchandise exports for the period April-August 2023 were $172.95 billion as against $196.33 billion during April-August 2022. Merchandise imports for the period April-August 2023 were $271.83 billion as against $309.19 billion during April-August 2022.
In merchandise exports in August 2023, 15 of 30 key sectors exhibited positive growth as compared to the same period last year. These include Iron Ore (1,556.09%), Oil Meals (57.26%), Ceramic Products & Glassware (29.28%), Electronic Goods (26.29%), Cotton Yarn/Fabs./Made-Ups, Handloom Products etc. (26%), Tobacco (20.03%), Oil Seeds (17.02%), Meat, Dairy & Poultry Products (16.46%), Cashew (14.25%), Fruits & Vegetables (14.19%), Carpet (13.15%), Cereal Preparations & Miscellaneous Processed Items (12.88%), Engineering Goods (7.73%), Drugs & Pharmaceuticals (4.53%), and Marine Products (2.45%).
Under merchandise imports, 15 of 30 key sectors exhibited negative growth in August 2023. These include Silver (-78.15%), Cotton Raw & Waste (-74.67%), Fertilisers, Crude & Manufactured (-55.69%), Coal, Coke & Briquettes, etc. (-43.47%), Leather & Leather Products (-33.17%), Organic & Inorganic Chemicals (-26.69%), Petroleum, Crude & Products (-23.76%), Textile Yarn Fabric, Made-Up Articles (-18.38%), Pearls, Precious & Semi-Precious Stones (-15.82%), Wood & Wood Products (-10.01%), Fruits & Vegetables (-8.08%), Transport Equipment (-3.99%), Sulphur & Unroasted Iron Pyrites (-3.21%), Pulp And Waste Paper (-1.25%) and Vegetable Oil (-0.49%), informed an official release.
Source: Exim News Service: New Delhi, Sept. 17