India's exports hit all-time high of USD 417.81 bn; trade deficit widens to USD 192.41 bn

New Delhi [India], April 4 (ANI): India's exports surged by 43.18 per cent to hit an all-time high of USD 417.81 billion during the financial year ended March 31 while imports soared to USD 610.22 billion resulting in a trade deficit of USD 192.41 billion during the year, the government data showed on Monday.
India achieved an all-time high annual merchandise export of USD 417.81 billion in FY 2021-22, an increase of 43.18 per cent over USD 291.81 billion in FY2020-21 and an increase of 33.33 per cent over USD 313.36 billion in FY2019-20, the Ministry of Commerce & Industry said in a statement.
For the first time, monthly merchandise exports exceed the USD 40 billion mark. Exports surged to USD 40.38 billion in March 2022, an increase of 14.53 per cent over USD 35.26 billion in March 2021 and an increase of 87.89 per cent over USD 21.49 billion in March 2020.
India's merchandise import in March 2022 rose to USD 59.07 billion, an increase of 20.79 per cent over USD 48.90 billion in March 2021 and an increase of 87.68 per cent over USD 31.47 billion in March 2020.
India's merchandise imports in the financial year ended March 31, 2022, rose to USD 610.22 billion, an increase of 54.71 per cent over USD 394.44 billion in the previous year and an increase of 28.55 per cent over USD 474.71 billion recorded in the financial year 2019-20.
The trade deficit in March 2022 widened to USD 18.69 billion. For the whole 2021-22 financial year, the trade deficit widened to USD 192.41 billion.
The value of non-petroleum exports in March 2022 was USD 33 billion, registering a positive growth of 4.28 per cent over non-petroleum exports of USD 31.65 billion in March 2021 and positive growth of 73.94 per cent over non-petroleum exports of USD 18.97 billion in March 2020.
The value of non-petroleum imports rose to USD 40.66 billion in March 2022 with a positive growth of 5.26 per cent over non-petroleum imports of USD 38.63 billion in March 2021 and a positive growth of 89.79 per cent over non-petroleum imports of USD 21.42 billion in March 2020.
The cumulative value of non-petroleum exports in April 2021-March 2022 was USD 352.76 billion, an increase of 32.62 per cent over USD 266.00 billion in April 2020-March 2021 and an increase of 29.66 per cent over USD 272.07 billion in April 2019-March 2020.
The cumulative value of non-petroleum imports in April 2021-March 2022 was USD 449.54 billion, showing an increase of 44.2 per cent compared to non-oil imports of USD 311.75 billion in April 2020-March 2021 and an increase of 30.62 per cent compared to non-oil imports of USD 344.16 billion in April 2019-March 2020. (ANI)