India’s Jan 2022 exports, imports rise over 23%

India’s merchandise exports in January 2022 rose to $34.06 billion, higher by 23.69 per cent on a year-on-year basis, preliminary data showed on Tuesday.

Exports in January 2021 stood at $27.54 billion.

According to the data furnished by the Commerce and Industry Ministry, last month’s exports rose by 31.75 per cent over January 2020.

“Value of non-petroleum exports in January 2022 was $30.33 billion, registering a positive growth of 19.4 per cent over non-petroleum exports of $25.4 billion in January 2021 and a positive growth of 33.81 per cent over non-petroleum exports of $22.67 billion in January 2020,” the ministry said.

“Value of non-petroleum and non-gems and jewellery exports in January 2022 was $27.09 billion, registering a positive growth of 20.1 per cent over non-petroleum and non-gems and jewellery exports of $22.56 billion in January 2021, and a positive growth of 36.92 per cent over non-petroleum and non-gems and jewellery exports of $19.79 billion in January 2020.”

As per the data, India’s merchandise imports last month increased by 23.74 per cent to $52.01 billion over $42.03 billion in January 2021, a rise of 26.38 per cent over $41.15 billion reported for the corresponding month of 2020.

“Value of non-petroleum imports was $40.57 billion in January 2022 with a positive growth of 24.44 per cent over non-petroleum imports of $32.61 billion in January 2021 and a positive growth of 44.19 per cent over non-petroleum imports of $28.14 billion in January 2020.

“Value of non-oil, non-GJ (gems and jewellery) imports was $35.22 billion in January 2022 with a positive growth of 33.6 per cent over non-oil and non-GJ imports of $26.36 billion in January 2021and a positive growth of 41.63 per cent over non-oil and non-GJ imports of $24.87 billion in January 2020.”

Consequently, India’s trade deficit last month widened by 23.82 per cent YoY to $17.94 billion from $14.49 billion while it increased by 17.30 per cent when compared to $15.30 billion reported for January 2020.

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