New Delhi. The country’s exports have registered a decline for the third consecutive month. In April, exports declined by 12.7 percent (12.7 percent down) to $ 34.66 billion ($ 34.66 billion) on an annual basis. Exports stood at $39.7 billion in the year-ago period. However, during this period the trade deficit has come down to the lowest in 20 months at $15.24.
The Ministry of Commerce and Industry has given this information in the data released on Monday. According to the data, exports declined by 12.7 per cent year-on-year in April to $34.66 billion. At the same time, imports in April have also come down by about 14 percent year-on-year to $ 49.9 billion, while in April 2022 it was $ 58.06 billion. Similarly, the country’s trade deficit stood at $15.24 billion in April, which is the lowest level in the last 20 months. The previous minimum was $13.81 billion in August 2021, while the trade deficit in April 2022 was $18.36 billion.
According to the data, exports of petroleum products, gems and jewellery, engineering products, chemicals and ready-made garments registered a negative growth in April. However, exports of electronic products, medicines, rice and oil have increased. During this period, the export of electronic products increased by 26.49 percent to $ 2.11 billion. On the other hand, crude oil imports declined by 13.95 per cent to $15.17 billion. Gold imports have also fallen by 41.48 per cent to $1 billion in April. In fact, exports from India to the US declined by 17.16 per cent to $5.9 billion in April, while exports to the United Arab Emirates (UAE) declined by 22 per cent to $2.23 billion. Apart from this, negative growth was also registered in exports to China, Singapore, Bangladesh and Germany.
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