The country’s export of goods declined marginally to $41.68 billion in March. Loktej Business News
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New Delhi, April 15 (Hindustan Reporter) The country’s exports have declined due to geopolitical tensions. Exports of goods have declined marginally to $41.68 billion in March 2024. During the financial year 2023-24, it declined by 3.11 percent to $ 437.06 billion.
The Ministry of Commerce and Industry said in the data released on Monday that the export of goods declined to 41.68 billion dollars in March. During the financial year 2023-24, it declined by 3.11 percent to $ 437.06 billion. According to the data, the country’s imports also declined by 5.98 percent to 57.28 billion dollars in the month of March. Thus, the country’s trade deficit in the financial year 2023-24 ending March 31, 2024 stood at $15.6 billion.
According to the data released by the ministry, total imports during the financial year 2023-24 stood at $ 677.24 billion, which is 5.41 percent less than $ 715.97 billion in the financial year 2022-23. During this period the country’s trade deficit was 240.17 billion dollars. According to the ministry, India’s total exports (goods and services combined) in March 2024 are estimated to be $ 70.21 billion, which shows a negative growth of -3.01 percent as compared to March 2023. Total imports in March 2024 are estimated to be $73.12 billion, showing a negative growth of -6.11 per cent as compared to March 2023.
The Commerce Ministry said that the country’s total trade deficit is estimated to improve by 35.77 percent from $ 121.62 billion in the financial year 2022-23 to $ 78.12 billion in the financial year 2023-24. Giving information about trade data, Commerce Secretary Sunil Barthwal said that the ministry is keeping an eye on the situation in West Asia, adding that ‘appropriate action’ will be taken accordingly.
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