Even while the trade deficit widened to USD 20.11 billion in April, India's merchandise exports increased by 30.7 percent to USD 40.19 billion, thanks to strong performance by sectors such as petroleum products, electronic goods, and chemicals, according to the commerce ministry.
Imports increased by 30.97 percent to USD 60.3 billion in the month under review.
In April 2021, the trade deficit was USD 15.29 billion. "Exports continued robust growth in April 2022, after a record performance in the previous financial year, with merchandise exports setting a new high by crossing USD 40 billion," it stated.
Imports of petroleum and crude oil increased by 87.54 percent to USD 20.2 billion during the month. Imports of coal, coke, and briquettes increased to USD 4.93 billion in April 2021, up from USD 2 billion in April 2021.
Gold imports, on the other hand, fell by over 72% to USD 1.72 billion in April 2021, from USD 6.23 billion the previous month. Exports of engineering items climbed by 15.38 percent to USD 9.2 billion, while exports of petroleum products increased by 113.21 percent to USD 7.73 billion.