India's merchandise exports rise 30.7% to $40.19 billion in April

New Delhi: India's merchandise exports surged 30.7 per cent to $40.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as trade deficit widened to $20.11 billion during the month, the Commerce Ministry said on Friday.

Imports during the month under review grew by 30.97 per cent to $60.3 billion.

The trade deficit in April 2021 was at $15.29 billion.

"After a record performance in the last financial year, the exports continued robust growth in April, 2022 with merchandise exports scaling a new high by crossing $40 billion," it said.

Petroleum and crude oil imports during the month rose by 87.54 per cent to $20.2 billion. Coal, coke and briquettes imports jumped to $4.93 billion, as against $2 billion in April 2021.

Gold imports, however, dipped by about 72 per cent to $1.72 billion during the month under review, from $6.23 billion in April 2021.

Engineering goods exports increased by 15.38 per cent to $9.2 billion, while petroleum products exports soared 113.21 per cent to $7.73 billion.

The ministry said the estimated value of services export for April 2022 is $27.60 billion, an increase of 52.87 per cent over April 2021.

Services imports rose by 61.87 per cent to $15.57 billion.