Export boom in December, know what was the condition of import and trade deficit

New Delhi. In December 2021, the country’s exports grew by 38.91 percent on an annual basis to $ 37.81 billion. This boom has been due to the good performance of sectors like engineering, textiles and chemicals. In December 2020, this figure was $ 27.22 billion. The trade deficit also increased in December to $21.68 billion. The Commerce Ministry gave this information on Friday. Last year, both production and exports were greatly affected due to the Corona crisis. Due to which this increase is seen as shocking.

According to the Ministry of Commerce, there has also been an increase in imports in December 2021 and it has increased by 38.55 percent to $ 59.48 billion. Exports grew by 49.66 per cent to $301.38 billion between April and December 2021-22. According to the data, imports during the period increased 68.91 percent to $ 443.82 billion, leaving a trade deficit of $ 142.44 billion.

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Export target achieved by three quarters

The country’s merchandise exports reached $301 billion between April and December. The Government of India has set an export target of $ 400 billion for the current financial year. Three-fourths of the target has been achieved. The country’s total exports stood at $290 billion in the financial year 2020-21. This figure has exceeded that. In the fiscal year 2022-23, the government has set an export target of $525-530 billion.

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Overall exports up 25%

The country’s overall exports, which includes both merchandise and services, rose 25 per cent to $57.87 billion in December. Overall imports jumped 33 per cent to $72.35 billion. Between April-December, overall exports rose by 36 per cent to $479 billion, while overall imports grew 57.33 per cent to $547 billion.

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