India’s merchandise exports in December 2023 registered 0.96% growth at USD 38.45 Billion over USD 38.08 Billion in December 2022.

Major contributors to export growth in December 2023 include Engineering Goods, Iron Ore, Gems & Jewellery, Electronic Goods and Drugs & Pharmaceuticals.

Engineering Goods exports in December 2023 record an increase of 10.19 percent at USD 10.04 Billion over USD 9.11 Billion in December 2022. December 2023 record is the highest monthly export of engineering goods in the current financial year so far.

Gems and Jewellery exports in December 2023 improve by 14.07 percent at USD 2.90 Billion from USD 2.54 Billion in December 2022.

Electronic Goods exports registered an increase of 14.41 percent at USD 2.62 Billion in December over USD 2.29 Billion in December 2022. December 2023 record is the highest monthly export of electronics in the current financial year so far.
Drugs and Pharmaceutical Products in December 2023 at USD 2.47 Billion registered an increase of 9.30 percent over USD 2.27 Billion in December 2022. December 2023 record is the highest monthly export of Drugs and Pharmaceuticals Products in the current financial year so far.
Agricultural exports continue to grow in December 2023: Tobacco (38.94%), Meat, Dairy & Poultry Products (29.76%), Spices (27.68%), Fruits & Vegetables (25.36%), Cereal Preparations & Miscellaneous Processed Items (13.5%) and Oil Seeds (8.48%).
Overall trade deficit during April-December improves by 35.87 percent from USD 108.13 Billion in 2022 to USD 69.34 Billion in 2023; merchandise trade deficit also improves by 11.45 percent from USD 212.34 Billion in April-December 2022 to USD 188.02 Billion in April-December 2023