Merchandise Exports

Services exports likely to see sharper jump, estimated to cross $320 billion in FY23 from $254 billion a year ago

India's services exports rose 24.5% on year in October-December 2022, hitting a record $83.4 billion during the quarter, shows data

The 2015 Foreign Trade Policy Statement said that the government aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20

The country's merchandise exports have recorded a healthy growth in both value and volume terms in 2022, economic think tank Global Trade Research Initiative (GTRI) said in a report on Thursday. The outbound shipments rose by 14.6 per cent year-on-year to USD 453.3 billion in 2022. "The study found that products where exports increased to cover a value of USD 315.9 billion (69.8 per cent of total merchandise exports). But, products whose export quantities increased over the previous year represent USD 285.6 billion (63 per cent of total exports)," it said. Major product categories which have recorded growth in both value and volume terms include petroleum products, sugar, and basmati rice. "Petroleum products, including diesel, gasoline and naphtha represent an export value of USD 94 billion. The unit price rose between 50-115 per cent in one year. The high unit prices may be primarily due to the high prices of crude oil. Sugar saw a unit value increase of 15 per cent, with exports

Canada's merchandise exports decreased 2.3 per cent in November 2022, in large part because of a decline in exports of energy products, according to official figures

Imports at 10-month low of $55.88 billion, trade deficit lowest in 7 months

The data released by the Reserve Bank of India (RBI) showed a fall in export credit even though the bank credit saw a robust growth of 18 per cent

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Decline 17% to $29.8 billion in October

Notwithstanding the threat of a recession looming ahead for the developed economies, exporters say they expect a similar trend to continue in the second half of the year

The World Trade Organization (WTO) has also painted a grim picture for the outlook of global trade next year amid fears of a recession

The effect of global slowdown has reached the Indian shores. Its merchandise exports contracted 3.5% in Sept due to a fall in demand. So have Indian exports hit a rough patch?

India's merchandise exports contracted 3.5% to $33.6 bn in September

The electrical machinery/equipment segment grew nearly 90 per cent with shipments jumping to Rs 13,606 crore in the April-July 2022 from Rs 7,202 crore in the year-ago period.

India Ratings expects the current account deficit to hit a 36-quarter high of 3.4 per cent of GDP or USD 28.4 billion in the June quarter, against a 0.9 per cent surplus a year ago. In the March 2022 quarter, the deficit was a moderate 1.5 per cent or USD 13.4 billion, while in Q1FY22 the current account surplus was USD 6.6 billion or 0.9 per cent of GDP when the country was hit by the second wave of the pandemic, according to the agency. As a share of GDP, the current account deficit is expected to jump to a 36-quarter high after the 1QFY14 when it was 4.7 per cent. In absolute terms, it will be at a 38-quarter high after 3QFY13 when the deficit was USD 31.8 billion, India Ratings said in a note on Monday. Although merchandise exports touched a record high of USD 121.2 billion in Q1FY23, outward shipments are likely to slow down and come in at USD104.2 billion in Q2FY23, growing by a meagre 1.4 per cent in Q2 due to global headwinds. The International Monetary Fund in July slashed

Merchandise exports likely to slow down and come in at $104.2 bn in second quarter of the year

Rupee trade mechanism with Russia to start soon, says FIEO

India's merchandise exports are expected to grow by 11.4 per cent to hit USD 114.4 billion during the July-September quarter of the current financial year, data from Exim Bank showed. However, the rise in exports during the second quarter of FY23 could be shadowed by softening global commodity prices. Among others, possible slowdown in major trade partners, inflationary pressures and tight monetary policies around the world could also offset the exports gain, Export-Import Bank of India (Exim Bank) said in its quarterly data. Exim Bank releases the forecast during the first weeks of June, September, December and March for the corresponding quarters. The policy banker for the government has an in-house model to generate an Export Leading Index (ELI) for the country to track and forecast the movement in India's exports on a quarterly basis. ELI gauges the outlook for country's exports. It is essentially developed as a leading indicator to forecast growth in total merchandise and othe

Say India is better placed even as exports decline

UP is targetting to increase merchandise exports to almost Rs 3 trillion in the next three years