Page 27 - Policy Economic Report_Feb'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 9: Total Trade during April- November 2024

Source- RBI
• India’s Foreign Trade – April 2024 to January 2025

Overall Trade Performance
? Total Exports (Merchandise + Services): $682.59 billion, registering a 7.21% YoY growth.
? Total Imports (Merchandise + Services): $770.06 billion, growing by 8.96% YoY.
? Trade Deficit: Widening due to faster import growth than export growth.

Sector-wise Export Growth (January 2025 vs. January 2024)

High Growth Categories:
? Cereals: 103.2% (including Rice: 44.61%).
? Electronic Goods: 78.97%
? Tobacco: 59.18%
? Coffee: 57.07%
? Meat, Dairy & Poultry Products: 35.66%
? Gems & Jewellery: 15.95%
? Drugs & Pharmaceuticals: 21.46%
? Marine Products: 7.98%
? Engineering Goods: 7.44%
? Handicrafts & Carpets: 18.04%

Declining Import Categories:
? Project Goods: -48.14%
? Precious Stones & Pearls: -29.11%
? Coal, Coke & Briquettes: -15.22%
? Crude Petroleum & Products: -13.49%

Services Sector Growth: Estimated growth in services exports (April 2024 - January 2025): 14.49%
YoY.

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