The country’s merchandise exports have recorded a healthy growth in both value and volume terms in 2022, economic think tank Global Trade Research Initiative (GTRI) said in a report on Thursday.
The outbound shipments rose by 14.6 per cent year-on-year to USD 453.3 billion in 2022.
“The study found that products where exports increased to cover a value of USD 315.9 billion (69.8 per cent of total merchandise exports). But, products whose export quantities increased over the previous year represent USD 285.6 billion (63 per cent of total exports),” it said.
Major product categories which have recorded growth in both value and volume terms include petroleum products, sugar, and basmati rice.
“Petroleum products, including diesel, gasoline and naphtha represent an export value of USD 94 billion. The unit price rose between 50-115 per cent in one year. The high unit prices may be primarily due to the high prices of crude oil. Sugar saw a unit value increase of 15 per cent, with exports
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