April records $38.19 bn exports, but deficit also expands by $20 bn

New Delhi, May 4 (KNN) The merchandise exports in the first month of FY23 has been recorded at USD 38.19 billion which is 9.5 per cent lower than the record March record of USD 42.2 billion. 

While the trade deficit has widened from USD 18.5 billion in March to USD 20.07 billion in April as imports grew at a faster 26.6 per cent pace to USD 58.26 billion. 

Making up a third of the total imports in the month, Petroleum imports comprising crude and products surged 81.2 per cent to exceed USD 19.5 billion. 

Gold imports fell by a sharp 73 per cent year-on-year to just USD 1.7 billion, even as coal imports more than doubled to over USD 4.7 billion from USD 2 billion a year earlier.

Value of non-petroleum and non-gems and jewellery exports in April 2022 was USD 27.16 billion, registering a positive growth of 14.38 per cent over non-petroleum and non-gems and jewellery exports of USD 23.74 billion in April 2021. (KNN Bureau)