Data by the Ministry of Commerce and Industry showed on Tuesday that India’s total exports during the April-August period were estimated at $328.86 billion, registering a positive growth of 5.35 percent.
Total imports during the first five months of the current fiscal are estimated at $375.33 billion, registering a growth of 7.20 per cent. Merchandise exports during the April-August 2024 period were $178.68 billion as compared to $176.67 billion during the same period last year, registering a positive growth of 1.14 per cent. Merchandise trade deficit during the April-August period was $116.64 billion compared to $99.16 billion during the same period last year.
In the month of August, India’s total exports (merchandise and services) reached $65.40 billion, the data showed. Merchandise exports during August were $34.71 billion as compared to $38.28 billion in August last year. Non-petroleum and non-gems and jewellery exports in April-August 2024 were $135.75 billion, compared to $128.95 billion in April-August 2023. Non-petroleum, non-gems and jewellery (gold, silver and precious metals) imports in April-August 2024 were $186.25 billion, compared to $177.13 billion in April-August 2023.
Major drivers of merchandise export growth in August included engineering goods, organic and inorganic chemicals, electronic goods, RMG of all textiles, and drugs and pharmaceuticals. Engineering goods exports increased by 4.36 per cent from $9.05 billion in August 2023 to $9.44 billion in August 2024. Organic and inorganic chemicals exports increased by 8.32 per cent from $2.19 billion in August 2023 to $2.37 billion in August this year. Electronic goods exports increased by 7.85 per cent from $2.16 billion in August 2023 to $2.33 billion in August 2024. Drugs and pharmaceuticals exports increased by 4.67 per cent from $2.24 billion in August 2023 to $2.35 billion in August 2024, the data showed. The estimated value of services exports for August is $30.69 billion as compared to $28.71 billion in August 2023.
–IANS
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