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Trade Performance FY 2024
April 20 , 2024
13 days
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- India's trade deficit narrowed to $15.6 billion in March, a 11-month low, owing to a sharp fall in merchandise imports.
- The deficit figure stood at $18.96 billion in March 2023 and $18.71 billion in February 2024.
- India’s overall exports reached a record $776.68 billion in the financial year ended March 31.
- Merchandise exports fell to $437.06 billion in FY24, while services exports grew by 4.4% to a record $339.62 billion.
- The country’s overall trade deficit improved by 35.77% from $121.62 billion in FY23 to $78.12 billion in FY24.
- India’s merchandise exports in 2023-24 fell by 3.11% to $437.06 billion as against $451.07 billion in 2022-23.
- Merchandise imports in 2023-24 too fell, by 5.41% to $677.24 billion as against $715.97 billion in 2022-23.
- Services export in 2023-24 were estimated at $339.62 billion, 4.39% up from $325.33 billion achieved in 2022-23.
- Services imports were estimated at $177.56 billion in FY24 as compared to $182.05 billion in FY23, a contraction of 2.46%.
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