Pune Media
Leading the news curation and publishing for the people of Pune

India’s exports dip by 3.52% to $32.62 billion in September

The country’s exports shrink by 3.52% to $32.62 billion in September as against $33.81 billion in the same month in 2021, while the trade deficit widened to $26.72 billion, as per the preliminary data released by the commerce ministry today.

Whereas imports during September grew by 5.44% to $59.35 billion as against $56.29 billion in September last year.

The exports during April-September 2022-23 surged by 15.54% to $229.05 billion. Imports during the period increased by 37.89% to $378.53 billion. The trade deficit during the first six months of the fiscal has widened to $149.47 billion as against $76.25 billion during April-September 2021-22.

The services exports are doing very well and on the services front, there is a boost coming from the travel segment as tourism has picked up in a big way, Reserve Bank of India Deputy Governor Michael Patra had said earlier.

India’s GDP growth to decline to 5.7% in 2022

Meanwhile, India’s economic growth is expected to decline to 5.7% in 2022 from 8.2% last year, a top UN agency projected on Monday, citing higher financing cost and weaker public expenditures.

India’s GDP will further decelerate to 4.7% growth in 2023, as per the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022.

“India experienced an expansion of 8.2% in 2021, the strongest among G20 countries. As supply chain disruptions eased, rising domestic demand turned the current account surplus into a deficit, and growth decelerated,” the report said.

Meanwhile, China’s economic growth is expected to be 3.9% this year, a decline from 8.1% last year, and a 5.3% growth in 2023.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.

Aggregated From –
Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Pune.Media
Typically replies within few minutes on a chat or a day via email
Hey There! I am here to help you :)
Hello there
Subscribe to our YouTube Channel so that we can get you awesome news from around the world!