Monday, June 27, 2022

India’s monthly export jumps to record high in December 2021

Union Minister Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal said that India has achieved its highest-ever monthly exports of USD 37 billion in December 2021, registering a jump of 37 per cent from figures of December 2020.

India’s merchandise export in April-December 2021 aggregated to $299.74 billion, an increase of 48.85% over $201.37 billion in April-December 2020 and an increase of 25.80% over $238.27 billion in April-December 2019.

In December 2021, exports of engineering goods grew by 37.27 percent to $ 9.7 billion, followed by petroleum products (140 percent to $ 5.6 billion), gems and jewellery (15.8 percent to $ 2.98 billion), chemicals (26 percent to $ 2.64 billion) and ready made garments of all textiles (22 percent to $ 1.46 billion).

While addressing the media, Piyush Goyal said India’s exports of goods will cross $400 billion this fiscal.

Services exports are expected to be $179 billion in the first nine months of the current fiscal year. 

“We are well on track to go up to $230 billion or upwards, which will also be a historic high in terms of services exports,” the minister said.

Goyal further added that while the third wave of covid-19 is impacting developed economies like the US, Europe and the Middle East, and problems related to shipping lines can be expected, they do not see any immediate disruptions in supply chain, adding that shipping staff getting infected with Covid-19 can cause short-term disruptions.

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