India's Overall Exports Rise By 6.75 Per Cent To $57.47 Billion In August; Trade Deficit Widens

India's overall (Merchandise and Services combined) exports rose 6.75 per cent to $57.47 billion in August 2022, Commerce Ministry data showed on Wednesday (14 September).

The data showed that overall imports in August 2022 increased 33.15 per cent to $75.84 Billion in August.

Meanwhile, the trade deficit widened to 18.37 billion dollar during August.

During April-August 2022-23, merchandise exports registered a growth of 17.68 per cent to $193.51 billion. Merchandise Imports during the five-month period of this fiscal grew by 45.74 per cent to $318.03 billion.

Trade deficit widened to $124.52 billion in April-August this fiscal as against $53.78 billion in the same period last year.

The services exports during April-August 2022-23 rose 23.2 per cent to $118.3 billion while the imports registered a growth of 35.81 per cent to 72.88 billion during the five-month period of the current fiscal.

Crude oil imports in August this year increased by 87.44 per cent to $17.7 billion. However, gold imports dipped by about 47 per cent to $3.57 billion, the data showed.

On the other hand, silver imports jumped to $684.34 million during the month under review from $15.49 million in the same month last year.

Rise in import values in August has been witnessed in major commodity groups such as coal, coke & briquettes (133.64 per cent to $4.5 billion), chemicals (43 per cent to about $3 billion), and vegetable oil (41.55 per cent to about $2 billion).

Further, export products that recorded positive growth in August included electronic goods, rice, oil meals, tea, coffee and chemicals.

Export of petroleum products rose by 22.76 per cent to $5.71 billion. Similarly, chemicals and pharma shipments increased by 13.47 per cent and 6.76 per cent to $2.53 billion and $2.14 billion respectively.

(With inputs from PTI)