New Delhi: State exports in December 2021 surged 38.91 percent on an annual basis to $ 37.81 billion, the highest monthly figure, due to healthy performance by sectors such as techniques, textiles and chemicals, even when the trade deficit widened to $ 21 , 68.
Billion during that month, government data showed on Friday.
Imports in December 2021 also increased 38.55 percent to $ 59.48 billion, due to an increase in petroleum imports and crude oil, which jumped 67.89 percent to $ 16.16 billion.
Gold imports increased by 5.43 percent to $ 4.72 billion.
During April-December 2021-22, exports rose 49.66 percent to $ 301.38 billion.
Imports during the period jumped 68.91 percent to $ 443.82 billion, leaving a trade deficit of $ 142.44 billion, data showed.
The trade deficit in December 2020 was $ 15.72 billion.
“Merchandise exports in December 2021 was $ 37.81 billion, compared with $ 27.22 billion in December 2020, showing positive growth of 38.91 percent.
Compared to December 2019, exports in December 2021 showed a positive growth of 39.47 percent,” Trading the Ministry said in a statement.
In December 2021, engineering goods exports grew 38.41 percent to $ 9.8 billion, followed by petroleum products (151 percent to $ 5.88 billion), gems and jewelry (16.4 percent to around $ 3 billion ), Chemicals (26.86 percent to $ 2.66 billion)) and ready-to-use clothing from all textiles (22.63 percent to $ 1.46 billion).
Data also stated that the estimated value of service exports for December 2021 was $ 20.07 billion, an increase of 5.26 percent during the same month in 2020.
Imports also rose 15.76 percent to $ 12.87 billion.
“Estimated value of service exports for April-December 2021 was $ 177.68 billion, showing a positive growth of 18.39 percent vis-vis-visi April-December 2020 ($ 150.09 billion).” The estimated value of import services for April-December 2021 is $ 103.30 billion showing positive growth of 21.52 percent vis-à-vis April-December 2020 ($ 85 billion), “he added.
Commenting on the numbers, Indian export organization federation ( FIEO) President Sacthiel said that seeing the current trend, India will achieve the export target of merchandise worth $ 400 billion for fiscal.