New Delhi: India’s merchandise export of USD 33.0 billion in August 2022 is marginally less than the levels of USD 33.38 billion in August 2021, according to the data released today by the Ministry of Commerce and Industry.
Amongst the major products, exports of Electronic goods (50.68%), Rice (42.32%), and Organic and Inorganic chemicals (13.35%) registered growth during August 2022.
India’s merchandise import in August 2022 was USD 61.68 billion, an increase of 36.78% over USD 45.09 billion in August 2021. India’s merchandise imports in April -August 2022-23 was USD 317.81 billion with an increase of 45.64% over USD 218.22 billion in April -August 2021-22.
“The import surge reflects the strong demand of the domestic economy due to robust growth and strong fundamentals of the Indian economy,” the Ministry stated, adding that in value terms, the surge in imports is due to a combination of quantity and price factors.
A high increase in import values in August 2022 has been witnessed in the following major commodity groups Coal, Coke & Briquettes, etc.(133.64%), Petroleum, Crude & products (86.44%), Organic & Inorganic Chemicals (42.73%), Vegetable Oil (41.55%)
The value of non-petroleum exports in August 2022 was 28.09 USD billion, registering a negative growth of only 2.22% over non-petroleum exports of USD 28.73 billion in August 2021. The value of non-petroleum exports in April -August 2022-23 was USD 152.29 billion, an increase of 7.97% over USD 141.05 billion in April -August 2021-22.
The value of non-petroleum imports was USD 44.07 billion in August 2022 with a positive growth of 23.63% over non-petroleum imports of USD 35.65 billion in August 2021. The cumulative value of non-petroleum imports in April -August 2022–23 was USD 218.44 billion, showing an increase of 32.02% compared to non-oil imports of USD 165.46 billion in April -August 2021–22.
The value of non-petroleum and non-gems and jewellery exports in August 2022 was USD 24.8 billion, registering a negative growth of 1.96% over non-petroleum and non-gems and jewellery exports of USD 25.29 billion in August 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -August 2022–23was USD 135.49 billion, an increase of 8.4% over the cumulative value of non-petroleum and non-gems and jewellery exports of USD 124.99 billion in April -August 2021–22.
The value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 37.46 billion in August 2022 with a positive growth of 40.37%over non-oil and non-GJ imports of USD 26.69 billion in August 2021. Non-oil, non-GJ (Gold, Silver & Precious Metals) imports in April -August 2022-23 were USD 184.98 billion, recording a positive growth of 37.59%, as compared to non-oil and non-GJ imports of USD 134.44 billion in April -August 2021-22.
– global bihari bureau
