India’s merchandise export assured a strong growth of 13.84%

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Apr 15: Merchandise exports have registered the highest-ever annual exports of USD 447.46 billion with 6.03% growth during FY 2022-23 surpassing the previous year’s (FY 2021-22) record exports of USD 422.00 billion. Services export leads the overall export growth and is projected to set a new record annual value of USD 322.72 billion with a growth rate of 26.79% during FY 2022-23 over FY 2021-22.

India’s overall exports (Merchandise and Services combined) in FY 2022-23 (April-March) is estimated to exhibit a positive growth of 13.84 per cent over FY 2021-22 (April-March). As India’s domestic demand has remained steady amidst the global slump, overall imports in FY 2022-23 (April-March) are estimated to exhibit a growth of 17.38 per cent over FY 2021-22 (April-March).

 Merchandise+ServicesExport &  Import2022-23 (USD in Billion)2021-22 (USD in Billion)
OverallTrade Exports770.18676.53
Trade Balance-122.00-83.53
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