India's overall exports grow 4% to $58.36 bn in October

According to a statement from the Ministry of Commerce and Industry, overall imports in October 2022 are estimated to be $73.00 billion, exhibiting a positive growth of 11.82 per cent over the same period last year.

India's overall exports (merchandise and services combined) in April-October 2022 are estimated to be $ 444.74 billion, exhibiting a positive growth of 19.56 per cent over the same period last year. Overall imports in April-October 2022 are estimated to be USD 543.26 billion, showing a positive growth of 33.80 per cent over the same period last year.

Merchandise exports in October 2022 were $29.78 billion, against $35.73 billion in October 2021 whereas merchandise imports in October 2022 were $56.69 Billion, as compared to $53.64 billion in October 2021, according to the ministry statement.

The Commerce Ministry said merchandise exports for the period April-October 2022 were $263.35 billion as against $233.98 billion during April-October 2021 whereas merchandise imports in April-October 2022 were $436.81 billion, against $328.14 billion during the period April-October 2021.

It added that the merchandise trade deficit for April-October 2022 was estimated at $173.46 billion as against $94.16 billion in April-October 2021.

India exported non-petroleum and non-gems and jewellery worth $21.72 billion against $26.15 billion in October 2021 whereas imports of non-petroleum, non-gems and jewellery consisting of gold, silver and precious metals were $34.40 billion, compared to $32.88 billion in October 2021.

The ministry's data showed the estimated value of services export for October 2022 was $28.58 billion, against $20.37 billion in October 2021. The ministry statement also said the estimated value of services import for October 2022 is $16.30 billion as compared to $11.64 billion in October 2021. (ANI)