January 16, 2024
1 min read

India’s Exports Buck Trends

Commerce Secretary Sunil Barthwal said that despite a global slowdown, the country is “in the positive zone”….reports Asian Lite News

India’s merchandise exports registered a 0.96 per cent growth in December 2023 at $38.45 billion compared to $38.08 billion in the same month of the preceding year 2022 while imports fell during the month, according to official figures released by the Commerce Ministry on Monday.

Commerce Secretary Sunil Barthwal said that despite a global slowdown, the country is “in the positive zone”.

The overall trade deficit narrowed during the month to $5.17 billion during the month from $7.75 billion in December 2022.

Major contributors to export growth in December 2023 include engineering goods, iron ore, gems & jewellery, electronic goods and drugs & pharmaceuticals.

Engineering goods exports recorded an increase of 10.19 per cent at $10.04 billion in December, gems and jewellery exports went up by 14.07 per cent to $2.90 while electronic goods exports registered an increase of 14.41 per cent.

Exports of drugs and pharmaceutical products rose 9.3 per cent during the month to $2.47 billion.

This is also the highest monthly exports for these four commodity groups during the current financial year so far.

Agricultural exports continue to grow in December 2023 — tobacco (38.94 per cent), meat, dairy & poultry products (29.76 per cent), spices (27.68 per cent), fruits & vegetables (25.36 per cent), cereal Preparations & Miscellaneous Processed Items (13.5 per cent) and oil seeds (8.48 per cent).

Overall trade deficit during April-December improved by 35.87 per cent from $108.13 billion in 2022 to $69.34 billion in 2023.

April-December 2023.

he merchandise trade deficit also improved by 11.45 percent from $212.34 billion in April-December 2022 to $188.02 billion in April-December 2023.

ALSO READ: How Next-Gen EVs Are Shaping the Future of Mobility

Previous Story

Byju’s Aakash Thrives

Next Story

Caution Ahead!

Latest from Business

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an
Go toTop

Don't Miss

Writing judgments involve skillful application of law, logic: SC

A bench of Justices D.Y. Chandrachud and M.R. Shah said:

‘Sports diplomats have major role in forging India-US ties’

Ravin also discussed with the chess players how the Chess