India’s External Sector: Safely Navigating through Uncertainties

Merchandise Trade Depicted Resilience

  • Export Performance: India's merchandise exports showed resilience, achieving record-high levels, with a notable increase of over 50% in the past decade, reaching USD 451.1 billion in FY23. However, growth moderated in FY23 due to geopolitical tensions and continued to do so in FY24.
  • Import Decline and Trade Balance: Merchandise imports grew by 16.8% in FY23, but a decline in imports improved India's merchandise trade balance from a deficit of USD 189.2 billion (April-November 2022) to USD 166.4 billion (April-November 2023).
  • Export Diversification: While the principal commodity classification in exports remained stable, there has been progressive diversification in ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy March 2024 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

What Made The Indian Economy Resilient?