Export boom: 24 percent growth in April, imports also increased to $ 58 billion

Expansion

The Union Commerce Ministry presented information export figures on Tuesday. The ministry said exports grew by 24.22 per cent to $38.19 billion in April due to the good performance of sectors such as petroleum products, electronic goods and chemicals.

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According to the data released by the government, imports also increased by 26.55 percent to $ 58.26 billion in the month under review. Apart from this, if we talk about the trade deficit in April 2022, it has also increased and it reached $ 20.07 billion, in the same period last year the trade deficit was $ 15.29 billion. There has been an increase in the country’s imports and exports for the past several months. Significantly, the country’s exports grew by 19.76 percent in March 2022 and it had increased to $ 42.22 billion as compared to the previous year.

In March 2021, a total of $ 35.26 billion was exported from the country. Apart from this, imports increased by 24.21 per cent to $ 60.74 billion in March. Whereas, the trade deficit widened to $18.51 billion. On the other hand, in the last month of February 2022, the country’s exports grew by 25.1 percent to $ 34.57 billion in February. However, during this period the trade deficit also increased to $ 20.88 billion. Apart from this, there was a 36 percent jump in imports and it was increased to $ 55.45 billion.