homebusiness NewsIndia's exports to UAE rise 17.6% to $18 billion between April & October

India's exports to UAE rise 17.6% to $18 billion between April & October

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By PTI Nov 16, 2022 9:00:02 PM IST (Published)

India’s exports to the UAE, with which a free trade agreement was implemented on May 1, rose by 17.6 percent to about $18 billion during April-October this fiscal, according to the commerce ministry’s data.

India’s exports to the UAE, with which a free trade agreement was implemented on May 1, rose by 17.6 percent to about $18 billion during April-October this fiscal, according to the commerce ministry’s data.

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However, exports in October dipped by 18 percent to about $2 billion.
Imports during April-October 2022-23, on the other hand, increased by 33 percent to $32.3 billion from the UAE, the data showed.
Imports from China during the same period grew by 18 percent to $60.3 billion, while India’s exports to China declined by 37.3 percent to $8.8 billion, according to the data.
Exports to India’s major destinations, such as the US, UAE, China, Bangladesh, UK and Saudi Arabia, have shrunk in October. On the other hand, exports registered a growth in the Netherlands, Singapore and Brazil during the month.
In April-October this fiscal, exports to the US rose by 8.4 percent to $47 billion.
Similarly, the outbound shipments to the UK during seven months of the fiscal have increased by 8.3 percent to $6.5 billion.
This data is collated by the ministry’s Directorate General of Commercial Intelligence and Statistics based on quick estimates.
India’s exports declined after a gap of about two years, dropping by 16.65 percent to $29.78 billion in October due to a global demand slowdown, even as the trade deficit widened to %=$26.91 billion, according to data released by the ministry on Tuesday.
India’s exports to the UAE, with which a free trade agreement was implemented on May 1, rose by 17.6 percent to about USD 18 billion during April-October this fiscal, according to the commerce ministry’s data.
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