What’s in the news?

• India’s overall exports (Merchandise and Services combined) in March 2023 is estimated to be USD 66.14 Billion. Overall imports in March 2023 is estimated to be USD 72.18 Billion.
• India’s overall exports (Merchandise and Services combined) in FY 2022-23 (April-March) is estimated to exhibit a positive growth of 13.84 per cent over FY 2021-22 (April-March). 
• As India’s domestic demand has remained steady amidst the global slump, overall imports in FY 2022-23 (April-March) is estimated to exhibit a growth of 17.38 per cent over FY 2021-22 (April-March).
• Merchandise exports for the period FY 2022-23 (April-March) were USD 447.46 Billion as against USD 422.00 Billion during FY 2021-22 (April-March).
• Merchandise imports for the period FY 2022-23 (April-March) were USD 714.24 Billion as against USD 613.05 Billion during FY 2021-22 (April-March).
• The merchandise trade deficit for FY 2022-23 (April-March) was estimated at USD 266.78 Billion as against USD 191.05 Billion during FY 2021-22 (April-March).
• Non-petroleum and non-gems & jewellery exports during FY 2022-23 (April-March) was USD 314.98 Billion, as compared to USD 315.43 Billion in FY 2021-22 (April-March).
• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 433.65 Billion in FY 2022-23 (April-March) as compared to USD 370.79 Billion in FY 2021-22 (April-March).
• The estimated value of services export for FY 2022-23 (April-March) is USD 322.72 Billion as compared to USD 254.53 Billion in FY 2021-22 (April-March).
• The estimated value of services imports for FY 2022-23 (April-March) is USD 177.94 Billion as compared to USD 147.01 Billion in FY 2021-22 (April-March).
• The services trade surplus for FY 2022-23 (April-March) is estimated at USD 144.78 Billion as against USD 107.52 Billion in FY 2021-22 (April-March).

https://pib.gov.in/PressReleasePage.aspx?PRID=1916220