Merchandise exports contracted by 13.9% Y-o-Y in March, to $38.4 billion (vs $37 billion in February) while imports contracted to $58.1 billion led by lower oil prices. Services exports growth moderated to 3% YoY at $27.8 billion. Trade deficit increased to $ 19.7 billion from $ 16.2 billion in February. During FY23, trade deficit stands at $ 266.8 billion vs $ 191.1 billion in FY22.
April 17, 2023