Exports up 9%, trade deficit widens to five-month high – The Tribune-OxBig News Network

India’s trade deficit widened USD 26.42 billion, a five-month high, with imports rising 19.12% to USD 64.91 billion in April compared to USD 54.49 billion in the same month last year while exports for April rose 9.03% on a year to year basis to USD 38.49 billion.

Exports grew on electronics and engineering goods while imports expanded on account of increased crude oil and fertiliser shipments.

Rising imports led to a large trade deficit with the difference between the value of imports and exports at its highest since November 2024 when it was USD 31.77 billion, government data showed today.

High export goods were tobacco, coffee, marine products, tea, ready-made garments of all textiles, rice, gems and jewellery, spices, petroleum products and pharmaceuticals.

The import of crude oil in April rose by 25.6 per cent to USD 20.7 billion and that of gold by 4.86 per cent to USD 3.09 billion.

Commerce Secretary Sunil Barthwal said he was hopeful India will maintain the export momentum and it should be a good year. “We have opened this year with a bang,” he said, adding that the plan to concentrate on 20 countries and six commodities was yielding positive outcomes and this focus would sustain. Barthwal said many free trade agreements would be concluded soon.

The government data showed the estimated value of services exports for April at USD 35.31 billion compared to USD 30.18 Billion in April 2024.