Trade Data

Merchandise exports witnessed annual contraction in 16 of the 30 key sectors last month

The move aims to dispel any confusion over divergence between the two sets of data, federal trade secretary Sunil Barthwal told reporters in New Delhi

The development comes in the backdrop of India's merchandise exports witnessing 4.8 per cent year-on-year rise to $35.45 billion in September

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 country's exports rose by 4.82 per cent to USD 35.45 billion in September, even as the trade deficit widens to USD 25.71 billion, according to the data released by the commerce ministry on Friday. In its preliminary data, which was released in the first week of this month, the ministry stated that the country's merchandise exports contracted by 3.52 per cent to USD 32.62 billion in September. Imports during the month under review increased by 8.66 per cent to USD 61.61 billion. The trade deficit in September 2021 was USD 22.47 billion. During April-September 2022, exports recorded a growth of 16.96 billion to USD 231.88 billion. Imports rose by 38.55 per cent to USD 380.34 billion, while the trade deficit widened to USD 148.46 billion against USD 76.25 billion in September 2021, the data showed.

Currently, the value of exports and imports of services is released by the Reserve Bank of India (RBI) and it comes with a lag of over two months

The U.S. Census Bureau said on Tuesday that the United States' 2021 goods trade deficit with China rose by $45 billion, or14.5%, to $355.3 billion

Exporters also cite container shortage; imports continue to rise due to revival in domestic economy and high commodity prices

Imports too declined by 0.75 per cent USD 41.14 billion, leaving a trade deficit of USD 15.17 billion during the month under review

Chinese data early in the year is often heavily distorted by the timing of the Long Lunar New Year holidays, which fall in either January or February

The country's exports grew marginally by 0.34 per cent to USD 27.93 billion in December 2018 on account of negative growth in sectors such as engineering and gems & jewellery, according to a commerce ministry data. Imports, however, dipped by 2.44 per cent to USD 41 billion during the last month, narrowing the trade deficit to USD 13 billion. The trade deficit stood at USD 14.2 billion in December 2017. Gold imports declined by 24.33 per cent to USD 2.56 billion in December last year as against USD 3.39 billion in the same month of 2017. During April-December this fiscal, exports grew by 10.18 per cent to USD 245.44 billion. Imports rose by 12.61 per cent to USD 386.65 billion. The trade deficit widened to USD 141.2 billion during the nine months of the current fiscal from USD 120.57 billion in April-December 2017-18. Oil imports in December 2018 rose by 3.16 per cent to USD 10.67 billion.

Imports during the month also rose by 17.62 per cent to USD 44.11 billion

Imports grew by 25.41 per cent in August to $45.24 billion due to costlier crude oil shipments.

Merchandise exports grew 9.6% to $23.5 bn in October, while imports expanded 8.1% to $33.67 bn