The nation’s exports in September rose by 4.82 percent to $35.45 billion, even as the trade deficit widened to $25.71 billion, according to the data released by the commerce ministry on Friday.
As per the ministry’s preliminary data released in the first week of this month, India’s merchandise exports contracted by 3.52 percent to $32.62 billion in September.
On the other hand, the data revealed that the imports during the month under review increased by 8.66 percent to $61.61 billion. The trade deficit in September 2021 was $22.47 billion.
From April-September 2022, exports recorded a growth of $16.96 billion to $231.88 billion. Imports rose by 38.55 percent to $380.34 billion, while the trade deficit widened to $148.46 billion against $76.25 billion in September 2021, the data showed.
In September this year, exports of key sectors such as engineering, and RMG (ready-made garments) of all textiles, plastic, cashew, and carpet recorded negative growth.
While exports of engineering goods witnessed a dip of 10.85 percent to $8.4 billion in September. The export of RMG of all textiles declined by 18 percent to $1 billion. And, shipments of plastics decreased by 12.2 percent to $660.66 million.
However, during the same month exports of gems and jewelry, petroleum products, leather, pharmaceuticals, chemicals, and rice recorded positive growth.
In imports, inbound shipments of oil dipped by 5.38 percent to $15.9 billion. Gold imports contracted by 24.62 percent to $3.9 billion.
While Coal, coke, and briquettes imports rose by 60.82 percent to $3.5 billion in September.
Further, the ministry said that the estimated value of services exported for September 2022 is $25.65 billion, an increase of 18.72 percent over September 2021. Imports too rose by 20 percent to $15.10 billion. “The estimated value of services export for April-September 2022 is $150.43 billion, exhibiting a positive growth of 27.88 percent vis-a-vis April-September 2021,” it said.