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Shrinking engineering exports to UAE, China led to overall dip in FY23

The decline was a direct result of depressed global demand, especially in the metals sector

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While engineering exports contracted to $107.04 billion, overall exports grew 6 per cent year-on-year at $447.46 billion

2 min read Last Updated : Apr 21 2023 | 11:39 PM IST

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A contraction in shipments of engineering goods to key markets like the United Arab Emirates (UAE), Italy, Turkey, and China led to an overall decrement in engineering exports by 4.6 per cent in FY23.

The decline was a direct result of depressed global demand, especially in the metals sector.

As a consequence, the share of engineering goods in India’s merchandise exports during FY23 declined to 23.92 per cent as against 26.58 per cent in FY22.