New Delhi: Director General Foreign Trade Santosh Sarangi has said that India’s overall exports in February 2023 are estimated to be USD 63.02 Billion, exhibiting a positive growth of 7.81 per cent over the same period last year.
Shri Sarangi said that Country’s overall exports in April-February 2022-23 are estimated to exhibit a positive growth of 16.18 per cent over the same period last year (April-February 2021-22).
As India’s domestic demand has remained steady amidst the global slump, overall imports in April-February 2022-23 is estimated to exhibit a growth of 19.93 per cent over the same period last year, said DGFT.
In spite of strong global headwinds, with one month remaining in the current financial year, India’s overall exports is projected to grow at 16.18 percent during April-February 2022-23 over same period last year (April-February 2021-22), said he.
Under merchandise exports, 14 of the 30 key sectors exhibited positive growth in February 2023 as compared to same period last year (February 2022). These include Oil Meals (220.96%), Iron Ore (51.37%), Spices (30.85%), Electronic Goods (29.85%), Fruits & Vegetables (17.42%), Gems & Jewellery (13.76%), Rice (11.75%), Ceramic Products & Glassware (11.5%), Other Cereals (10.65%), Oil Seeds (9.4%), Cereal Preparations & Miscellaneous Processed Items (5.22%), Marine Products (4.96%), Drugs & Pharmaceuticals (4.72%) and Mica, Coal & Other Ores, Minerals Including Processed Minerals (2.97%).
Under merchandise exports, 17 of the 30 key sectors exhibited positive growth during April-February 2022-23 as compared to the same period last financial year (April-February 2021-22). These include Electronic Goods (49.54%), Petroleum Products (49.5%), Oil Meals (44.12%), Tobacco (34.3%), Cereal Preparations & Miscellaneous Processed Items (16.12%), Rice (15.88%), Oil Seeds (13.36%), Other Cereals (12.15%), Fruits & Vegetables (11.16%), Leather & Leather Products (11.08%), Tea (10.03%), Coffee (8.17%), Ceramic Products & Glassware (7.62%), Organic & Inorganic Chemicals (3.91%), Rmg of All Textiles (3.28%), Marine Products (3.19%) and Drugs & Pharmaceuticals (3.14%).
Exports of Electronic goods increased by 29.85 percent during February 2023 at USD 1.93 Billion as compared to USD 1.48 Billion in February 2022. During April – February 2022-23 electronic goods exports were recorded at USD 20.70 Billion as compared to USD 13.84 Billion during the same period last year registering a growth of 49.54 percent.
Effect of duty withdrawal on Iron Ore is visible on India’s exports of the item which have exhibited positive growth of 51.37 percent during February 2023 over the same month in 2022.
Textiles, Plastic & Linoleum exports continued to decline in February 2023 because of subdued demand due to recessionary effects in major economies.
