The trade deficit for the full 2021–2022 year was USD 192.41 billion, compared to USD 18.69 billion in March 2022.
According to a press release, India’s monthly merchandise exports surpassed USD 40 billion for the first time in March 2022 when they reached USD 40.38 billion, up 14.53 percent from USD 35.26 billion the previous month. It increased from USD 21.49 billion in March 2020 by 87.89%.
The country’s imports of goods this month were USD 59.07 billion, up 20.79% from USD 48.90 billion in the same month last year, according to the ministry. In comparison to USD 31.47 billion in March 2020, it increased by 87.68%.
The value of non-petroleum exports in March 2022 was USD 33 billion, rising a an increase of 4.28% over the USD 31.65 billion in the same month last year. Exports other than petroleum increased by 74% from USD 18.97 billion in March 2020.
March 2022 saw non-petroleum imports reach USD 40.66 billion, up 5.26 percent from USD 38.63 billion the previous month. It increased from USD 21.42 billion in March 2020 by 89.79%.
