India`s merchandise exports marginally up at $38.45 billion in December
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The commerce ministry in its latest data has said that India’s merchandise exports registered marginal growth of 0.97 per cent to $38.45 billion in December 2023 as compared to $38.08 billion in December 2022. Imports declined by 4.85 per cent to $58.25 billion in December 2023 as compared to $61.22 billion in December 2022 due to a dip in crude oil shipments. India’s trade deficit narrowed to a three-month low of $19.8 billion in December 2023 from $23.14 billion in the year-ago period.
According to the data, merchandise exports for the period April-December 2023 were $317.12 billion as against $336.30 billion during April-December 2022. Merchandise imports for the period April-December 2023 were $505.15 billion as against $548.64 billion during April-December 2022. The merchandise trade deficit for April-December 2023 was estimated at $188.02 billion as against $212.34 billion during April-December 2022.
It further stated that non-petroleum and non-gems & jewellery exports in December 2023 were $28.67 billion, compared to $27.19 billion in December 2022. Non-petroleum and non-gems & jewellery exports during April-December 2023 was $230.74 billion, as compared to $233.73 billion in April-December 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in December 2023 were $37.96 billion, compared to $38.04 billion in December 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $320.75 billion in April-December 2023 as compared to $333 billion in April-December 2022
