New Delhi: Data released by the Union government revealed that the exports from the country, declined by 12.7% to $34.66 billion in April. This is for third month in row that the exports are declining. Imports too declined by about 14% for the fifth month in a row, to $49.9 billion. It was at $58.06 billion recorded in the same month last year.
The trade deficit reduced to a 20-month low of $15.24 billion. Trade deficit is the difference between imports and exports of the country. In April 2022, the trade deficit stood at $18.36 billion. The lowest level prior to that was in April 2021, when the deficit stood at $15.10 billion.
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In April, export sectors which recorded negative growth, included petroleum products, gems and jewellery, engineering goods, chemicals and ready-made garments of all textiles.
Electronic goods, pharma, rice and oil meals registered positive growth. The shipments of electronic goods rose by 26.49% to $2.11 billion in April. Under merchandise exports, only 11 of the 30 key sectors exhibited positive growth in April and at imports front, 23 out of 30 key sectors recorded negative growth.
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