India’s Exports to UAE Fall 10.2% to USD 4.82 Billion in April-May This Fiscal, Says Commerce Ministry Data
India's exports to the UAE contracted by 10.2 per cent to USD 4.82 billion during April-May this fiscal against USD 5.37 billion in the year-ago period, according to the commerce ministry data released on Monday. India and the UAE have operationalised a comprehensive free trade agreement since May 1 last year.
New Delhi, June 15: India's exports to the UAE contracted by 10.2 per cent to USD 4.82 billion during April-May this fiscal against USD 5.37 billion in the year-ago period, according to the commerce ministry data released on Monday. India and the UAE have operationalised a comprehensive free trade agreement since May 1 last year.
According to the data, imports from the UAE too fell to USD 6.73 billion from USD 9.67 billion in April-May 2021-22. India's exports to the UAE in 2022-23 rose by 11.8 per cent to USD 31.3 billion, while imports from that country grew by 18.8 per cent to USD 53.2 billion in the preceding fiscal due to increased inbound shipments of oil. India’s Exports Dip 8.8% to USD 33.88 Billion in February 2023.
Exports to the US also declined by about 13 per cent to USD 12.47 billion. Imports from America decreased to USD 6.88 billion during the first two months of this fiscal as against USD 8.33 billion in the same period a year ago, the data showed. India’s Exports Jump by 24% to $62.21 Billion in May 2022.
However, imports from China have marginally increased to USD 15.75 billion during April-May 2023-24 as compared to USD 15.46 billion in the year-ago period. Exports to China have recorded negative growth.
Imports from Russia jumped to USD 11 billion during the period under review due to increasing inbound shipments of crude oil from the country.
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