Exports up 30.7% to $40.19 bn in April; trade deficit widens to $20.11 bn

India’s merchandise exports grew 30.7 per cent to $40.19 billion in April, led by demand for petroleum products, electronic goods and chemicals, even as the trade deficit widened due to high oil prices, data released by the commerce and industry ministry showed.

India imported goods worth $60.3 billion, up nearly 30 per cent on year in April. Trade deficit widened to $20.1 billion as compared to $15.29 billion in April last year.

Higher trade deficit was mainly due to rise in oil prices that continued to remain elevated over the Russia-Ukraine conflict since February 24. Petroleum and crude oil imports comprise a