India's H1 2023 Foreign Trade: Goods and Services

  Aug 28, 2023

India's Foreign Trade 2023 H1(January-June):Goods and Services

Q: What is the total foreign trade value of India during the first half of 2023?

A: The total foreign trade value of India during the first half of 2023 exceeded $800 billion.

Q: How did exports of goods and services perform during this period?

A: Exports of goods and services increased by 1.5% to $385.4 billion from January to June, compared to the same period in 2022.

Q: What about imports during this period?

A: Imports experienced a decline of 5.9%, reaching $415.5 billion for the first six months of the year, down from $441.7 billion in the previous year.

Q: Were there variations in goods exports and imports separately?

A: Yes, standalone goods exports saw an 8.1% decrease to $218.7 billion, while imports of goods contracted by 8.3% to $325.7 billion.

Q: How did services exports and imports perform?

A: Services exports showed strong growth, rising by 17.7% to $166.7 billion. Imports of services also increased by 3.7% to $89.8 billion during the same period.

Q: What role did the services segment play in the trade growth?

A: The healthy growth in India's services segment played a significant role in driving the country's total exports and imports across the $800-billion mark.

Q: What was the growth rate of foreign trade in comparison to the previous year?

A: India's foreign trade during the first half of 2023 exhibited a decline of 2.5% over the same period in the previous year (January-June 2022).

Q: What think tank provided this information?

A: The information was reported by the Global Trade Research Initiative (GTRI).

Q: Despite global demand slowdown, what contributed to India's trade performance?

A: The growth in India's services segments helped boost the country's overall trade performance despite the slowdown in global demand.

Q: How did the report break down the performance of exports and imports?

A: The report detailed the growth and contraction percentages of both goods and services exports and imports for the specified periods.


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