The merchandise trade deficit in August 2022 was estimated at USD 27.98 billion as against USD 11.71 billion in August 2021, which is an increase of 138.88 per cent, it said
The Ministry of Commerce and Industry on Wednesday said that India’s overall exports in August 2022 are at USD 57.47 billion, a growth of 6.75 per cent over the same period last year.
The ministry said that overall imports in August are at USD 75.84 billion, a growth of 33.15 per cent over the same period last year.
The merchandise exports in August were USD 33.92 billion and imports were USD 61.90 billion, a hike of 33.15 per cent and 37.28 per cent as compared to USD 33.38 billion and USD 45.09 billion in August 2021, respectively.
The merchandise trade deficit in August 2022 was estimated at USD 27.98 billion as against USD 11.71 billion in August 2021, which is an increase of 138.88 per cent, it said.
Also, the non-petroleum and non-gems and jewellery export rose by 8.5 per cent to USD 135.6 billion in April-August 2022 as compared to the same period last year.
Meanwhile, India’s trade deficit more than doubled to USD 27.98 billion in August, while exports increased by 1.62 per cent to USD 33.92 billion.
According to the official data, the trade deficit in August 2021 stood at USD 11.71 billion. Also, the imports grew by 37.28 per cent to USD 61.9 billion in August this year.