Exports declined by 12.7 percent in April, exports were $ 34.66 billion

India Trade Data: India’s exports have declined in April, the first month of the financial year 2023-24. Total exports in the month of April stood at $34.66 billion, which is 12.7 per cent lower than the same month last year when exports stood at $39.70 billion. There has also been a big decline in imports in the month of April.

According to the data released by the Ministry of Commerce, India’s import in April 2023 was $ 49.90 billion, which was $ 58.06 billion in April 2022 last year. The reason for the decline in imports The decline in imports of petroleum, crude, coal and coke is being considered as the main reason. Because there has been a big fall in the prices of these commodities as compared to last year. If the exports of services are also added, then the total exports have been $ 65.02 billion in April 2023, which was $ 63.75 billion in April a year ago. Including services, imports in April 2023 have been $ 66.40 billion, which was $ 72.11 billion a year ago.

If we look at the data of export of services only, the value of services export in April has been $ 30.36 billion, which was $ 24.05 billion in April 2022. The import of services has been $ 16.50 billion in April 2023, which was $ 14.06 billion in April 2022. Due to the high export base of April, a 2 percent jump in exports is expected in April 2023. India’s trade deficit has come down. The trade deficit in April 2023 has been $ 15.24 billion. Which was $ 18.36 billion during April 2022.

According to the data, the export of electronic goods has increased by 26.49 percent to $ 2.11 billion during April 2023, which was $ 1.67 billion in April 2022. However, there has been a decline in the export of textile, plastic, linoleum. This decline has been seen due to the effect of recession in the big economy.

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