Merchandise exports for H1 FY23 driven by mobile phones and tobacco

India's overall merchandise exports in the first half (H1) of this year increased by 16.96% Year-on-Year (YoY) to US$ 231.88 billion

November 7, 2022

Exports of Indian telecom instruments increased by 88.24% to US$ 5.03 billion YoY in the April-September period of this year

Exports of gold and other precious metal jewellery rose by 22.24% at US$ 6.5 billion

Exports for petroleum products rose by 84.02% to US$ 52.6 billion

Agricultural and processed foods exports were up by 25% to US$ 13.7 billion in the April-September period of this year

India’s merchandise exports were primarily driven by mobile phones, tobacco, processed food products, electronics, gold jewellery and leather goods during the first half of FY23, according to media reports.

Exports of Indian telecom instruments increased by 88.24% to US$ 5.03 billion YoY in the April-September period of this year. As a result of the growth in consumer sentiment across the US, Middle East and Hong Kong, exports of gold and other precious metal jewellery rose by 22.24% at US$ 6.5 billion. As per the reports, Singapore, Thailand and Switzerland have emerged as India’s new growth markets for gem and jewellery exports. 

Exports for petroleum products rose by 84.02% to US$ 52.6 billion, electronic instruments by 24% to US$ 2 billion, and outbound shipments for processed fruits & vegetables grew by 42.42% during H1 2022. Additionally, agricultural and processed foods exports were up by 25% to US$ 13.7 billion in the April-September period of this year, compared to the same period last year.

According to the reports, India’s overall merchandise exports in H1 of this year increased by 16.96% YoY to US$ 231.88 billion, compared to US$ 198.25 billion in H1 2021.

However, exports of engineering goods, iron & steel, organic chemicals, plastic raw materials, cotton fabrics and made-ups have contracted in the first half of 2022.


Source: Economic Times

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