India’s April Trade Performance: Exports Inch Up, Trade Deficit Widens

• It sounds like India's export sectors are showing resilience despite the global economic uncertainties. The growth in electronics, chemicals, petroleum products, and pharmaceuticals is promising, indicating strengths in these industries. However, the widening trade deficit, particularly driven by increased imports of gold and crude oil, could pose challenges for India's balance of payments. Managing this deficit while fostering export growth will likely be a key focus for policymakers in the coming months.
• Exports up by 1% to $34.99 billion.
• Imports surged by 10.25% to $54.09 billion, driven by significant increases in gold and crude oil imports.
• Trade deficit widened to a five-month high of $19.1 billion, attributed to the significant increase in imports, particularly gold and crude oil.

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Published date : 22 May 2024 11:50AM