Owing to strong global
orders, India's merchandise exports rose by 43 percent in October this year as
compared to same period previous year. Impressively, exports also rose by
nearly 40 percent as compared to October 2019, before the pandemic struck.
released by the Commerce and Industry Ministry on November 15 showed outbound
trade rise to $35.65 billion in October, up from $ 24.92 billion in October
exports have grown by 55 percent in the April-October period of FY22 (2021-22)
as compared to the same period of 2020. Compared to 2019, exports have gone up
by 26 percent over the same period, the Ministry said.
a difficult FY21 (2020-21), exports had begun rising since December. In
February, before the low base effect kicked in, growth was a marginal 0.67
percent. Since then, calculated annually (Y-o-Y), exports had seen major growth
owing to the low base effect which has now worn off, officials say.
October, imports saw an equally large rise, going up a massive 62.5 percent to
$55 billion. This was a continuing trend from the past month when import growth
had been more than 84 percent. It had been slowly reducing before that. Experts
say this bodes well for the economy, signifying the return of industrial and consumer demand.
Similar to exports, as the low base wears off, the jumps
in import growth have moderated. Imports had risen by 51.5 percent in August,
62.9 percent in July, 98.3 percent in June, 73.6 percent in May, and 163
percent in April.
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