India's merchandise trade crosses the $1-trillion mark in 2022

India’s merchandise trade crossed the $1-trillion mark in calendar year 2022 with the share of exports at $450 billion and imports at $723 billion. This comes amid growing uncertainty on the external front.

Outbound shipments grew 13.7 per cent year-on-year (YoY) in 2022, while imports rose by 21 per cent, commerce and industry ministry’s data showed.

Exports witnessed a robust double-digit growth in the range of 34-20 per cent during the first six months of the year. Thereafter, the growth started falling to single digits July onwards, closing the year at a 12 per cent contraction. This comes as recession