New Delhi: India’s exports rose 1.62 per cent to $33.92 billion in August due to a rise in crude oil imports, while the trade deficit more than doubled to $27.98 billion, commerce ministry data said on Wednesday.
Revised data shows imports grew 37.28 per cent to $61.9 billion in August this year.
Preliminary data released by the ministry on September 3 showed a 1.15 per cent decline in exports in August to $33 billion.
During April-August 2022-23, exports registered a growth of 17.68 per cent to $193.51 billion. During the five-month period of the current fiscal, imports grew by 45.74 per cent to $318 billion.
The trade deficit widened to $124.52 billion in April-August this fiscal from $53.78 billion in the same period last year.
In August last year, the deficit was $ 11.71 billion.
Crude oil imports rose 87.44 per cent to $17.7 billion in August this year. However, gold imports declined by nearly 47 per cent to $3.57 billion, the data showed.
On the other hand, silver imports rose to $684.34 million in the month under review from $15.49 million in the same month last year.
The increase in import prices in August is seen in major commodity groups such as coal, coke and briquettes (up 133.64 percent to $4.5 billion), chemicals (up 43 percent to about $3 billion), and vegetable oil (up 41.55 percent to about $2) . Arab).
Besides, export products that registered positive growth in August include electronic goods, rice, oil food, tea, coffee and chemicals.
Petroleum products exports grew by 22.76 percent to $5.71 billion. Similarly, chemicals and pharma shipments grew 13.47 per cent and 6.76 per cent to $2.53 billion and $2.14 billion, respectively.
Sectors that reported negative growth in August included engineering (up 14.19 percent to $8.3 billion), gems and jewelery (up about 3 percent to $3.33 billion), ready-made garments of all textiles (up 0.34 percent to $1.23 billion), and plastics. ( 1.10 percent to $747.21 million).
Revised data shows imports grew 37.28 per cent to $61.9 billion in August this year.
Preliminary data released by the ministry on September 3 showed a 1.15 per cent decline in exports in August to $33 billion.
During April-August 2022-23, exports registered a growth of 17.68 per cent to $193.51 billion. During the five-month period of the current fiscal, imports grew by 45.74 per cent to $318 billion.
The trade deficit widened to $124.52 billion in April-August this fiscal from $53.78 billion in the same period last year.
In August last year, the deficit was $ 11.71 billion.
Crude oil imports rose 87.44 per cent to $17.7 billion in August this year. However, gold imports declined by nearly 47 per cent to $3.57 billion, the data showed.
On the other hand, silver imports rose to $684.34 million in the month under review from $15.49 million in the same month last year.
The increase in import prices in August is seen in major commodity groups such as coal, coke and briquettes (up 133.64 percent to $4.5 billion), chemicals (up 43 percent to about $3 billion), and vegetable oil (up 41.55 percent to about $2) . Arab).
Besides, export products that registered positive growth in August include electronic goods, rice, oil food, tea, coffee and chemicals.
Petroleum products exports grew by 22.76 percent to $5.71 billion. Similarly, chemicals and pharma shipments grew 13.47 per cent and 6.76 per cent to $2.53 billion and $2.14 billion, respectively.
Sectors that reported negative growth in August included engineering (up 14.19 percent to $8.3 billion), gems and jewelery (up about 3 percent to $3.33 billion), ready-made garments of all textiles (up 0.34 percent to $1.23 billion), and plastics. ( 1.10 percent to $747.21 million).