The export of goods increased in April to $ 38.49 billion by a value of $ 35.30 billion in the previous period.
Imports for goods increased to $ 64.91 billion in April, which is USD 54.49 billion a year ago.
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March’s export of goods was $ 41.97 billion, while imports were $ 63.51 billion, compared to exports of $ 36.91 billion and $ 50.96 billion in February.
The deficit of goods trade – the difference between export and import – was $ 21.54 billion in March, 14.05 billion, $ 23 billion in January and $ 19.19 billion in April 2024.
According to Reuters survey, the latest issue exceeded $ 20 billion economists’ expectations.
Global uncertainty
The Indian expanding trade deficit in April comes in the middle of the persistent global trade tension.
Last month, President Trump briefly placed mutual tariffs on imports from key partners, including India before stopping them to allow room for action.
Since then, both countries have been working on a limited trade agreement to alleviate market access and tariffs – a modest but fundamental step with the growing law on imports of India.
The Indian-Pakistani conflict contributes to external pressures, which further tense the regional dynamics of the trade.
Increased tensions stopped formal replacement, affected border economies and informal trade channels.
NONSTABILITY also discourages investors’ confidence in the region, combining challenges for Indian trade views of the Indian outlook in the middle of already growing import accounts and global uncertainties.
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Certainly, good export of India to the US was $ 8.42 billion in April, out of $ 10.13 billion in March.
The export of service is growing
Services exports in April to $ 35.31 billion, out of $ 31.64 billion in March and $ 30.18 billion in the same period of the previous year.
In April, the imports of services were $ 17.54 billion and in March it increased from $ 13.73 billion and $ 16.76 billion in the previous period.
The combined value of the export of goods and services in April affected $ 73.80 billion, from $ 65.48 billion a year ago.
Indian export driver
Engineering goods, petroleum products, electronic goods, gems and jewelry, drugs and pharmacies, organic and inorganic chemicals, finished textile clothing and rice were among the highest exports during April, while the highest imports included oil and raw products, electronic goods, machines, gold, coke DNA.
The main export destinations of India during April were the US, SAE, Netherlands, China and Singapore. Meanwhile, China, Russia, SAE, USA and Iraq remained the best suppliers, which reflected the dependence of the country on oil imports.
Exports without petroleum in January were awarded $ 32.86 billion, reflecting by 14.5%annually.
After April-following period, the cumulative non-art exports were $ 305.84 billion, which is 7.9% per year.
Meanwhile, Indian exports of non-role were awarded $ 31.11 billion in April as part of a trade in a trade, while imports were awarded $ 44.20 billion compared to $ 28.26 billion and $ 37.99 billion and $ 37.99 billion.
In an interview with the media after the publication of the latest business data, Minister of Trade Sunil Barthwal said that despite the increasing costs of transport and insurance worldwide, Indian exports have shown resistance, and exporters have adapted well and maintain stability in their operations.
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Government support for exporters through programs such as the incentive associated with the production and initiatives focused on small and medium -sized enterprises/MSME and the main industry, played a key role in increasing exports, the Minister of Commerce said.
“This resulted in the strong growth of exports and the optimism he saw in April and May shows that India (on the way) to maintain this export momtemtum,” he added.
(Tagstotranslate) Industry
