India’s merchandise exports in December 2023 registered 0.96% growth at USD 38.45 Billion over USD 38.08 Billion in December 2022.
- India’s overall exports (Merchandise and Services combined) in December 2023* is estimated to be USD 66.33 Billion, exhibiting a negative growth of (-) 4.25 per cent over December 2022. Overall imports in December 2023* is estimated to be USD 71.50 Billion, exhibiting a negative growth of (-) 7.18 per cent over December 2022.
Table 1: Trade during December 2023*
|
|
|
December 2023 (USD Billion) |
December 2022 (USD Billion) |
|
Merchandise |
Exports |
38.45 |
38.08 |
|
Imports |
58.25 |
61.22 |
|
|
Services* |
Exports |
27.88 |
31.19 |
|
Imports |
13.25 |
15.81 |
|
|
Overall Trade (Merchandise +Services) * |
Exports |
66.33 |
69.28 |
|
Imports |
71.50 |
77.03 |
|
|
Trade Balance |
-5.17 |
-7.75 |
* Note: The latest data for services sector released by RBI is for November 2023. The data for December 2023 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-December 2022 and April-September 2023 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during December 2023*
- India’s overall exports (Merchandise and Services combined) in April-December 2023* are estimated to be USD 565.04 Billion, exhibiting a negative growth of (-) 1.87 per cent over April-December 2022. Overall imports in April-December 2023* are estimated to be USD 634.39 Billion, exhibiting a negative growth of (-) 7.24 per cent over April-December 2022.
Table 2: Trade during April-December 2023*
|
|
|
April-December 2023 (USD Billion) |
April-December 2022 (USD Billion) |
|
Merchandise |
Exports |
317.12 |
336.30 |
|
Imports |
505.15 |
548.64 |
|
|
Services* |
Exports |
247.92 |
239.50 |
|
Imports |
129.24 |
135.29 |
|
|
Overall Trade (Merchandise+ Services)* |
Exports |
565.04 |
575.79 |
|
Imports |
634.39 |
683.93 |
|
|
Trade Balance |
-69.34 |
-108.13 |
Fig 2: Overall Trade during April-December 2023*
MERCHANDISE TRADE
- Merchandise exports in December 2023 were USD 38.45 Billion, as compared to USD 38.08 Billion in December 2022.
- Merchandise imports in December 2023 were USD 58.25 Billion, as compared to USD 61.22 Billion in December 2022.
Fig 3: Merchandise Trade during December 2023
- Merchandise exports for the period April-December 2023 were USD 317.12 Billion as against USD 336.30 Billion during April-December 2022.
- Merchandise imports for the period April-December 2023 were USD 505.15 Billion as against USD 548.64 Billion during April-December 2022.
- The merchandise trade deficit for April-December 2023 was estimated at USD 188.02 Billion as against USD 212.34 Billion during April-December 2022.
Fig 4: Merchandise Trade during April-December 2023
- Non-petroleum and non-gems & jewellery exports in December 2023 were USD 28.67 Billion, compared to USD 27.19 Billion in December 2022.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in December 2023 were USD 37.96 Billion, compared to USD 38.04 Billion in December 2022.
Table 3: Trade excluding Petroleum and Gems & Jewellery during December 2023
|
|
December 2023(USD Billion) |
December 2022 (USD Billion) |
|
Non- petroleum exports |
31.57 |
29.73 |
|
Non- petroleum imports |
43.31 |
41.87 |
|
Non-petroleum & Non Gems & Jewellery exports |
28.67 |
27.19 |
|
Non-petroleum & Non Gems & Jewellery imports |
37.96 |
38.04 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during December 2023
- Non-petroleum and non-gems & jewellery exports during April-December 2023 was USD 230.74 Billion, as compared to USD 233.73 Billion in April-December 2022.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 320.75 Billion in April-December 2023 as compared to USD 333 Billion in April-December 2022.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-December 2023
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