Categories: Economy

Govt released data: India’s trade deficit rises 88% in FY22

According to government data released, India’s trade imbalance increased by 87.5 percent to $192.41 billion in 2021-22, up from $102.63 billion the previous year. While total exports hit a new high of $417.81 billion last fiscal year, imports also hit a new high of $610.22 billion, resulting in a $192.41 billion trade deficit.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Key Points:

  • As per the ministry of commerce and industry, “India’s merchandise imports in April 2021-March 2022 totaled $610.22 billion, up 71 percent from $394.44 billion in April 2020-March 2021 and 28.55 percent higher than $474.71 billion in April 2019-March 2020.”
  • In March 2022, the trade deficit was $18.69 billion, compared to $192.41 billion for the entire fiscal year 2021-22.
  • India’s monthly merchandise exports surpassed $40 billion for the first time in March 2022, reaching $40.38 billion, up 14.53 percent from $35.26 billion the previous month.
  • It increased by 87.89% from $21.49 billion in March 2020.
  • The country’s merchandise imports this month totaled $59.07 billion, up 20.79 percent from $48.90 billion the previous month, according to the ministry. It increased by 87.68% from $31.47 billion in March 2020.
  • Non-petroleum exports totaled $33 billion in March 2022, up 4.28 percent from $31.65 billion in the same month a year before.
  • Exports of non-petroleum goods increased by 74% from $18.97 billion in March 2020.
  • Imports of non-petroleum goods totaled $40.66 billion in March 2022, up 5.26 percent from $38.63 billion the previous month. According to the ministry’s figures, it was up 89.79 percent from $21.42 billion in March 2020.

Find More News on Economy Here

Recent Posts

Simone Tata: The Visionary Behind Lakmé and Westside Passes Away at 95

Simone Tata, a transformative figure in India’s business landscape and the step-mother of Ratan Tata,…

26 mins ago

When was IndiGo Airlines Founded and Who Founded It?

IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…

54 mins ago

Which Country is Known as Deutschland?

Many countries have different names in different languages. One such country is Germany, which is…

1 hour ago

Which River is Known as the Lifeline of Northeast India?

Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…

1 hour ago

Which is the Largest Railway Station of Jharkhand? Know About It

Jharkhand, a state in eastern India, has a well-developed railway network that connects it to…

1 hour ago

Which is the Largest Railway Station of Haryana? Know About It

Haryana is a well-developed state with a strong railway network that connects many important cities.…

1 hour ago