Exports rise 36% to $23.8 billion in first three weeks of December

Recovery in key global markets and robust demand help trend, says commerce ministry data.

India exported items worth $23.8 billion during the first three weeks of December, up 36.2 per cent year-on-year.

This came amid robust external demand for goods, according to preliminary data collated by the commerce and industry ministry.

The growth was 27.7 per cent as compared to the same period of 2020. In terms of value, goods worth $18.65 billion were exported two years ago.

Export of other items, excluding petroleum oil and lubricants, increased more than 28 per cent (December 1-21) over the same period of 2021 as well as 2020 and 2019.

According to data, the value of exports grew by over a fourth to $7.36 billion during the third week of December as compared to the same time period of 2021. It was up 15.4 per cent during the same time period in 2020.

There has been a sustained increase in exports since the beginning of the year due to recovery in key global markets and robust demand.

The pace of growth in exports was slower in November. Exports growth fell to 26.49 per cent in November from 43.05 per cent in the previous month. In terms of absolute value, it fell to $29.8 billion, the lowest in nine months.

India aims to achieve a target of $400 billion in the current fiscal year, and has met nearly two-thirds of its annual export target during April-November.