Exports rise by 30% in April, trade deficit widens by 31.5%
Services also fared well and grew 50% on-year. Overall exports - merchandise and services combined in April - registered a growth of 38.90%, at $67.79 bn.
NEW DELHI: India’s merchandise exports grew more than 30% in April on a year-on-year basis on the back of improved performance in petroleum products, electronic goods, cereals, coffee, processed food and leather products, as per the data released by the Ministry of Commerce.
Services also fared well and grew 50% on year. Overall exports - merchandise and services combined in April - registered a growth of 38.90%, at $67.79 billion. Imports in the same month stood at $75.87 bn, exhibiting a positive growth of 36.31% over the same period last year, as per the government estimates. Meanwhile, the merchandise trade deficit widened by 31.5% in April, estimated at $20.11 bn as compared to $15.29 bn in April 2021.