India's exports rise by 25% to record $57.87 billion in December
India's exports including merchandise and services increased by 25.05 percent, to $57.87 billion in December 2021, as per the government data released on Friday.
According to Ministry of Commerce and Industry data, India's imports soared to $72.35 billion in December 2021, a 33.86 percent growth over the same period last year and a 40.30 percent increase over the December 2019 figure. When compared to December 2019, exports in December 2021 are 23.35 percent higher.
Cumulative exports are said to be $479.07 billion from April to December 2021, up by 36.31 percent from the same period in 2020 and 20.25 percent from the same period in 2019.
Overall imports in the April-December 2021 period are presumed to be $547.12 billion, depicting a 57.33 percent increase over the same period last year and an 18.57 percent increase over the April-December 2019 period, according to Ministry of Commerce and Industry data.
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Merchandise exports in December 2021 were priced at $37.81 billion, up from $27.22 billion in December 2020, showing a 38.91 percent increase. Imports rose by 39.47 percent in December 2021 when compared to December 2019.
Merchandise imports in December 2021 totalled $59.48 billion, a 38.55 percent increase over imports of $42.93 billion in December 2020. Imports rose by 50.24 percent in December 2021 compared to December 2019.
The merchandise trade deficit elevated to $21.68 billion in December 2021, up from $15.72 billion in December 2020.
Merchandise exports were estimated to be $301.38 billion from April to December 2021, up from $201.38 billion from April to December 2020, representing a 49.66% boost. In comparison to April-December 2019, exports increased by 26.49 percent in April-December 2021.
Merchandise imports totalled $443.82 billion from April to December 2021, up from $262.76 billion during the same period in 2020, representing a 68.91 percent increase.
Imports increased by 21.87 percent between April and December 2021, compared to April and December 2019.
The cumulative trade deficit for the first nine months of the current fiscal year elevated to $142.44 billion, up from $61.38 billion in the same period last year.
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-PTC News
