India’s trade deficit widened 87.5 per cent to USD 192.41 billion in 2021-22 from USD 102.63 billion in the previous year, government data showed on Monday. While total exports rose to a record high of USD 417.81 billion during the last financial year, imports also rose to USD 610.22 billion, leaving a trade gap of USD 192.41 billion.
“India’s goods imports stood at USD 610.22 billion in April 2021-March 2022, a growth of 54.71 per cent from USD 394.44 billion in April 2020-March 2021 and 28.55 per cent from USD 474.71 billion in April 2019-March 2020,” Commerce & The trade deficit stood at US$ 18.69 billion in March 2022, while it stood at US$ 192.41 billion during the entire 2021-22, said a release from the industry ministry.
For the first time, India’s monthly merchandise exports exceeded US$ 40 billion, reaching US$ 40.38 billion in March 2022, up 14.53 per cent as compared to US$ 35.26 billion in the year-ago month, the release said. is more. This was up by 87.89 per cent from USD 21.49 billion in March 2020.
The country’s goods imports last month stood at $59.07 billion, up 20.79 per cent from $48.90 billion in the same period a year ago, the ministry said. It was up 87.68 per cent from USD 31.47 billion in March 2020. During March 2022, non-petroleum exports were valued at USD 33 billion, registering a growth of 4.28 per cent as compared to USD 31.65 billion in the same month a year ago.
Non-petroleum exports grew 74 per cent from USD 18.97 billion in March 2020. Non-petroleum imports stood at US$ 40.66 billion during March 2022, a growth of 5.26 per cent from US$ 38.63 billion in the year-ago month. This was up 89.79 per cent from USD 21.42 billion in March 2020, data from the ministry showed.
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