India's September trade deficit widens; exports up 4.82% to $35.45 bn

India's merchandise trade deficit widened to $25.71 billion in September 2022, as against $22.47 billion in September 2021, according to the latest data released by the Ministry of Commerce and Industry.

The government data also revealed that the country’s merchandise exports rose 4.82 per cent to $35.45 billion from $33.81 billion in the same month last year.

On the other hand, India’s imports rose 8.66 per cent to $61.16 billion in September from $56.29 billion in the same period last year.

During April-September 2022, exports recorded a growth of 16.96 per cent to $231.88 billion, the data showed.

During the same period, imports rose by 38.55 per cent to $380.34 billion, while the trade deficit widened to $148.46 billion against $76.25 billion in September 2021.

Exports of engineering goods dipped by 10.85 per cent to $8.4 billion in September. Similarly, the export of RMG of all textiles declined by 18 per cent to $1 billion. Shipments of plastics decreased by 12.2 per cent to $660.66 million.

However, exports of gems and jewellery, petroleum products, leather, pharmaceuticals, chemicals, and rice have recorded positive growth during the month.

At imports front, inbound shipments of oil dipped by 5.38 per cent to $15.9 billion. Similarly, gold imports contracted by 24.62 per cent to $3.9 billion.

Coal, coke and briquettes imports rose by 60.82 per cent to $3.5 billion in September.

Further, the ministry said that the estimated value of services export for September 2022 is $25.65 billion, an increase of 18.72 per cent over September 2021. Imports too rose by 20 per cent to $15.10 billion.

"The estimated value of services export for April-September 2022 is $150.43 billion, exhibiting a positive growth of 27.88 per cent vis-a-vis April-September 2021," it said.

(With inputs from PTI)