GOODS EXPORTS - ECONOMY

GOODS EXPORTS - ECONOMY

News: With 6.9% year-on-year growth, goods exports rise to $451 billion in 2022-23

What's in the news?

●       India’s goods exports for 2022-23 scaled up significantly from earlier estimates to almost $451 billion, indicating a 6.9% year-on-year growth, with exports for March upgraded sharply to a nine-month high of $41.9 billion, as per Commerce Ministry data.

Key takeaways:

●       The overall import bill for 2022-23 remained virtually unchanged at $714.04 billion, a 16.5% rise from 2021-22, compared to $714.24 billion reported initially.

Exports Stats:

Goods:

The top exports of India are as follows.

1. Refined Petroleum
2. Diamonds
3. Packaged Medicaments
4. Jewellery
5. Rice

Destinations:

1. United States
2. United Arab Emirates
3. China
4. Bangladesh
5. Hong Kong

Imports Stats:

Goods:

1. Crude Petrol
2. Gold
3. Coal Briquettes
4. Diamonds
5. Petroleum Gas

Country-wise:

1. China
2. United Arab Emirates
3. United States
4. Switzerland
5. Saudi Arabia