India’s overall exports (Merchandise and Services combined) in August 2023* is estimated to be USD 60.87 Billion, exhibiting a negative growth of (-) 4.17 per cent over August 2022. Overall imports in August 2023* is estimated to be USD 72.50 Billion, exhibiting a negative growth of (-) 5.97 per cent over August 2022.
Table 1: Trade during August 2023*
|
August 2023 (USD Billion) |
August 2022 (USD Billion) |
||
|
Merchandise |
Exports | 34.48 | 37.02 |
| Imports | 58.64 |
61.88 |
|
|
Services* |
Exports | 26.39 | 26.50 |
| Imports | 13.86 |
15.22 |
|
|
Overall Trade (Merchandise +Services) * |
Exports | 60.87 |
63.52 |
|
Imports |
72.50 | 77.10 | |
| Trade Balance | -11.63 |
-13.58 |
* Note: The latest data for services sector released by RBI is for July 2023. The data for August 2023 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-August 2022 has been revised on pro-rata basis using quarterly balance of payments data.
The Press Release can be accessed at: https://pib.gov.in/PressReleasePage.aspx?PRID=1957756