Whats New?
India's engineering exports for April-December 2022-23 conceded 3.0% decline over the same period last month as it dropped to USD 79.83 billion from USD 82.32 billion in April-December 2021-22.
Engineering exports in December 2022 recorded at USD 9.08 billion as against USD 10.31 million in December 2021.
21 out of 34 engineering panels recorded positive growth during Apr-Dec 2022-23 over the same period last fiscal. Major decline was witnessed in iron & steel segment, non-ferrous segment, two-three wheelers, bicycle parts, Ship and Boats, etc.
Top five export destinations which witnessed positive growth during December 2022 were Turkey, Mexico, South Africa, Saudi Arabia and Malaysia