India's exports up 24% to $38 bn in April; trade deficit widens to $20 bn

India’s merchandise exports in April grew 24.2 per cent year-on-year to their third-highest level ever of $38.2 billion on the back of higher commodity prices amid the ongoing Russia-Ukraine war, the preliminary trade data released by the commerce ministry showed on Tuesday. The preceding month had witnessed record outbound shipments of $42.2 billion.

Imports in April surged 26.6 per cent to $58.3 billion, leading to a trade deficit of $20.1 billion during the month. Petroleum products (113.2 per cent), electronic goods (64 per cent), and chemicals (26.7 per cent) led the growth in exports in April, while engineering goods (15.4