Page 2 - Merchandise Trade

India's exports to Latin America likely to be highest in a decade in FY23

Exports crossed $16 billion as of February; trade deficit shrinking from pre-pandemic levels

Merchandise exports may cross $500 bn this fiscal due to healthy demand

The country's merchandise exports are likely to cross USD 500 billion this fiscal due to healthy demand for domestic goods in key global markets, including the US, and benefits from trade pacts, according to exporters. They said that other destinations like Russia would give a huge boost to the country's outbound shipments, particularly in the agri and food processing sectors. Federation of Indian Export Organisations (FIEO) said they are targeting to take the shipments to USD 500 billion-510 billion during the current financial year. Services exports are likely to reach around USD 390 billion in 2023-24 from USD 322.72 billion in 2022-23. "Together with goods and services, we are targeting exports of USD 900 billion this fiscal," FIEO Director General Ajay Sahai said. He noted that free trade agreements with the UAE and Australia would provide a huge platform to boost exports in those markets. "Production-linked incentive scheme too will provide an impetus to our exports as dome

India's merchandise trade deficit in March stood at $13.7 billion

That was lower than the $17.43 billion recorded in the previous month, and below the $18.30 billion forecast in a Reuters poll

India's merchandise trade deficit in January down at $17.75 billion

January merchandise exports were $32.91 billion compared with $34.48 billion in December, while imports were at $50.66 billion against $58.24 billion in December, according to government data

Economic Survey highlights India's diversifying merchandise trade: FIEO

Increasing exports to markets such as Brazil, South Africa and Saudi Arabia are boosting the growth of the country's outbound shipments, FIEO said on Tuesday. Federation of Indian Export Organisations (FIEO) President A Sakthivel said the Economic Survey has rightly highlighted India's growing and diversifying merchandise trade. "The new diversified markets, including those of Brazil, South Africa and Saudi Arabia, have led to the increase in exports by up to 2 times," he said. The ongoing trade negotiations with the UK, EU, Canada, and Israel will also add further impetus to our exports, he added. "Reducing the cost of logistics in the country, which now to the tune of 14-15 per cent, comparable to the global benchmark, will help in making our exports more competitive worldwide," Sakthivel said. Yogesh Gupta, Regional Chairman, FIEO (Eastern Region), said the exporter fraternity is expecting fiscal support and affordable credit, from the upcoming budget. "A need of the hour is t

India's merchandise trade crosses the $1-trillion mark in 2022

Outbound shipments grew 13.7 per cent year-on-year (YoY) in 2022, while imports rose by 21 per cent, commerce and industry ministry's data showed

Canada's merchandise exports declined 2.3% in November 2022: Reports

Canada's merchandise exports decreased 2.3 per cent in November 2022, in large part because of a decline in exports of energy products, according to official figures

Global trade surges to record $32 trillion in 2022, says UN report

Trade in merchandise goods soared to $25 trillion, an increase of about 10 per cent versus the prior year; trade in services grew 15 per cent year-over-year to nearly $7 trillion

India's trade policy challenges in a changed world

A slowdown in global trade is nothing new, but the cumulative impact of unprecedented and unforeseen events requires a new policy approach from India

Uttar Pradesh's merchandise exports surge 32% to Rs 60,578 crore

The electrical machinery/equipment segment grew nearly 90 per cent with shipments jumping to Rs 13,606 crore in the April-July 2022 from Rs 7,202 crore in the year-ago period.

Expect $470-billion merchandise exports by year-end, says FIEO

Rupee trade mechanism with Russia to start soon, says FIEO

Merchandise sales higher than pre-Covid level on Independence Day weekend

Infiniti Malls said both its malls witnessed a considerable increase in footfalls and sales compared to 2019

BigBasket FY22 revenue up 17% to Rs 7,119 cr, loss widens 4x to Rs 813 cr

BigBasket expects GMV to grow 30% to Rs 13,000 cr in FY23 with quick commerce push; will scale up offline stores from 90 to 695 in a year, will double footprint to 70 cities

Exim Bank estimates India's merchandise exports at $117.2 bn in Q1FY23

The country's total merchandise exports are likely to be at USD 117.2 billion in the first quarter of FY23, according to India Exim Bank. The total merchandise exports stood at USD 95.5 billion in the corresponding quarter of the previous year, the bank said on Monday. Non-oil exports continue to witness a double-digit growth of 12.6 per cent, amounting to USD 93 billion, during the first quarter (April-June) of 2022-23, compared to USD 82.6 billion in the year-ago period. The rise in the country's exports could be attributed largely to the continued increase in global commodity prices, driven by supply shocks, enhanced price competitiveness owing to exchange rate movements, and benefits from possible trade diversion, as per the bank. The growth forecast may be subject to commodity price volatility and uncertainties in the global economy, mainly driven by the current geopolitical tension, it said.

Trade deficit widens to $192 billion in FY22; imports at record high

Value of inbound petroleum shipments nearly doubles; account for 26% of total imports

Exports rise 27.16% to $30.04 bn in Nov; trade deficit at $22.91 bn

India's merchandise exports jumped 27.16 per cent to USD 30.04 billion in November on the back of good performance by sectors like petroleum products, engineering goods and electronic items

WTO estimates global merchandise trade volume growth at 10.8% in 2021

Growth should moderate as merchandise trade approaches its pre-pandemic long-run trend: WTO

India's September preliminary trade deficit at $22.94 billion: Govt

India's merchandise exports rose $33.44 billion for the month from $27.56 billion in the same period last year, while imports rose $56.38 billion in September from $30.52 billion last year

Global merchandise trade continues robust recovery from pandemic shock: WTO

The global merchandise trade is continuing its robust recovery from the shock of the Covid-19 pandemic, according to the WTO's Goods Trade Barometer, which hit a record high in its latest reading

Merchandise export receivables can't be set off against service import dues

You may remit the amount against the import of services separately and ask the buyer abroad to remit the full payment against your export bill