Goods & services exports marginally up at $765.6 bn in 2023: MoCI

India’s Exports of goods and services rose marginally by 0.4 per cent to $765.6 billion in 2023 despite global economic uncertainties, according to the Commerce Ministry(MoCI) data.

Sectors which helped keep India’s exports afloat include electronics, pharmaceuticals, cotton yarn, fabrics and madeups; ceramic products, meat, dairy and poultry products, fruits and vegetables and information technology.

Goods exports in the last calendar year, however, contracted by 4.71 per cent to $431.9 billion while services exports are estimated to have risen by 7.88 per cent to $ 333.8 billion, the data showed.

The main export destinations for India are the US, the UAE, the Netherlands, Bangladesh, the UK and Germany.

Goods shipments are impacted due to the Russia-Ukraine war, the Israel-Hamas conflict and the Red Sea trade route crisis due to attacks by Yemen-based Houthis on cargo ships in the region.