Imports touch record US$610 bn in FY21-22

India’s merchandise trade exports hit a record US$610.2 billion, an increase of 54.7% as compared to the previous year and 28.6% higher than the pre-pandemic levels.

April 6, 2022

During March, imports grew by 20.8% from a year ago to US$59.07 billion and increased by 87.7%.

During the same period, exports amounted to US$40.38 billion.

The trade deficit for March stood at US$18.7 billion.

In FY22, exports rounded up to US$418 billion, and the trade deficit for the year was at US$192.4 billion i.e 87.5% above FY21 levels and 19.3% over pre-pandemic levels.

In FY22, India’s merchandise trade exports hit a record of US$610.2 billion, an increase of 54.7% as compared to the previous year and are 28.6% higher than the pre-pandemic levels of FY20, as per the preliminary trade data for March released by the commerce ministry this week. 

During March, imports grew by 20.8% from a year ago to US$59.07 billion and increased 87.7% from March 2020 levels. During the same period, exports amounted to US$40.38 billion, taking the deficit for the month to US$18.7 billion. 

In FY22, exports rounded up to US$418 billion, and the trade deficit for the year was at US$192.4 billion i.e 87.5% above FY21 levels and 19.3% over pre-pandemic levels.