By: ICN Bureau
Last updated : September 21, 2022 9:02 am
While exports and imports have both been more than that of the corresponding period of previous year, increase in imports has been more.
The quantum of production of major chemicals increased to 21.52 lakh tonnes during 2022-23 (Up to May 2022) as compared to 19.97 lakh tonnes during the corresponding period of the previous year, recording an increase of 7.75%, as per the government data.
The quantum of production of Major Petrochemicals declined to 65.06 lakh tonnes during 2022-23 (Up to May 2022) as compared to 72.20 lakh tonnes during the corresponding period of the previous year, recording a decrease of 9.89%.
India exported major chemicals valued at Rs. 6,990 crores and major petrochemicals valued at Rs. 4,372crores were exported in the month of May, 2022. The import of major chemicals and major petrochemicals were to the tune of Rs 5,151 crores and Rs. 13,537 crores respectively during the month.
The combined exports of major chemicals and major petrochemicals in the year in 2022-23 (up to May 2022) has increased to Rs. 22.77000 crores from 20.65000 crores. The imports have increased to Rs.35.45 000 crores from Rs. 28.66000 over the corresponding period of last year.
While exports and imports have both been more than that of the corresponding period of previous year, increase in imports has been more. There is a trade deficit of Rs.12.69000 crores in the current year in comparison to a trade deficit of Rs.8.01000 crores in the corresponding period of the previous year.
The export figures for major chemicals and major petrochemicals for April-May, 2021 stood at Rs 10.76 000 and Rs.9.88000 crores respectively.
The import figures for major chemicals and major petrochemicals for April-May, 2021 stood at Rs.8.31000 crores and Rs. 20.36000 crores respectively