Total exports of merchandise and services in FY25 begin with strong growth of 6.88%

In April 2024, India's total exports, combining Merchandise and Services, reached US$ 64.56 billion, marking a 6.88% increase from April 2023. Meanwhile, total imports stood at US$ 71.07 billion, reflecting a growth of 12.78% over the same period. Merchandise exports marginally rose to US$ 34.99 billion, with imports reaching US$ 54.09 billion. Notably, non-petroleum and non-gems & jewellery exports amounted to US$ 26.11 billion, while imports totalled US$ 32.72 billion in April 2024. Exports surged to US$ 29.57 billion on the services front, while imports reached US$ 16.97 billion.

Examining specific sectors, 13 out of 30 key segments in merchandise exports showed positive growth in April 2024, including Electronic Goods (25.8%) and Tea (25.74%). Conversely, 14 sectors experienced negative growth in merchandise imports, notably Sulphur & Unroasted Iron Pyrites (-71.75%) and Pearls, Precious & Semi-Precious Stones (-21.12%). Services exports are forecasted to grow by 14.68% in April 2024 compared to April 2023.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.