Exports grew by 24 percent in April, imports grew by 26 percent

Exports up 24 percent in April

Exports increased in April due to better performance of petroleum products, electronic goods and chemicals. During this, the export of rice and gems and jewelery has decreased as compared to last year. On the other hand, there has been an increase in the import of coal, coke, crude, while the import of gold has decreased.

by country export ,Export) and exports from the country have registered a record high in the very first month of the financial year. commerce ministry (Commerce MinistryAccording to the data released by ) in the month of April, there has been an increase of 24.22 percent in exports from the country and it has reached $ 38.19 billion. This figure is the highest figure of exports recorded in the first month of any financial year. According to the statement, this growth has been registered due to increase in export of petroleum products, electronic goods and chemicals. On the other hand, due to the rise in commodity prices, imports (Import) has also seen an increase and during April, imports have increased by 26.55 percent to a level of $ 58.26 billion. Due to the increase in import price, the trade deficit has also increased to $ 20.07 billion from $ 15.29 billion last year.

How were the export figures?

According to the data released by the government, during April 2022, the value of non-petroleum exports has increased by 12.32 percent compared to the previous year to reach the level of $ 30.46 billion. On the other hand, non-petroleum and non-jewellery exports grew by 14.38 percent at the level of $ 27.16 billion. According to the commerce ministry, the increase in exports during April is due to the increase in exports of petroleum products, electronics goods and chemicals, during April, exports of petroleum products 113 percent, electronic goods exports 64 percent and chemical sector. Exports grew by 26.71 percent. During this, the export of rice and gems and jewelery has decreased as compared to last year.

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How were the import figures?

Fuel has been the biggest contributor to the increase in imports during April. The biggest gain has been in Coal and Coke. There was an increase of 136 percent in its imports. At the same time, an increase of 81 percent has been seen in petroleum, crude etc. compared to last year. These two account for more than 41 percent of the total imports. There has been an increase of 30-30 percent in the import of non-ferrous metal, vegetable oil. At the same time, there has been a sharp decline in gold imports during April and imports have decreased by 73 percent.