India’s overall exports (Merchandise and Services combined) in March 2023* is estimated to be USD 66.14 Billion, exhibiting a negative growth of (-) 7.53 per cent over March 2022. Overall imports in March 2023* is estimated to be USD 72.18 Billion, exhibiting a negative growth of (-) 7.98 per cent over March 2022.
Table 1: Trade during March 2023*
|
March 2023 (USD Billion) |
March 2022
(USD Billion) |
||
| Merchandise | Exports | 38.38 |
44.57 |
|
Imports |
58.11 | 63.09 | |
| Services* | Exports | 27.75 |
26.95 |
|
Imports |
14.07 | 15.35 | |
| Overall Trade (Merchandise +Services) * | Exports | 66.14 |
71.52 |
|
Imports |
72.18 | 78.44 | |
| Trade Balance | -6.04 |
-6.92 |
* Note: The latest data for services sector released by RBI is for February 2023. The data for March 2023 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for FY 2021-22 (April-March) and April-December 2022 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during March 2023*
The Complete Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1916220