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  Business   In Other News  05 Feb 2022  Intermediate goods imports post growth

Intermediate goods imports post growth

THE ASIAN AGE. | SANGEETHA G
Published : Feb 5, 2022, 10:30 am IST
Updated : Feb 5, 2022, 10:30 am IST

For the third consecutive quarter, India had the highest growth of intermediate goods imports of 65 per cent

Trade in intermediate goods, which are inputs used to produce a final product, is an indicator of the robustness of global supply chains. — DC Image
 Trade in intermediate goods, which are inputs used to produce a final product, is an indicator of the robustness of global supply chains. — DC Image

Chennai: Owing to higher gold imports, India witnessed higher imports of intermediate goods in the third quarter of 2021 — registering growth in three  consecutive quarters.

“For the third consecutive quarter, India had the highest growth of intermediate goods imports of 65 per cent, due mainly to the upward momentum of non-monetary gold imports 161 per cent growth,” said the WTO.

In Q3 2021, India imported intermediate goods worth $81 billion. China remained the top importer with $443 billion, but grew by 25 per cent. With a growth rate of 30 per cent, the US made imports of $265 billion. After Germany and Hong Kong, India was at the fifth position in terms of intermediate goods.

Trade in intermediate goods, which are inputs used to produce a final product, is an indicator of the robustness of global supply chains.

China and the US were the top intermediate goods exporters.

Tags: intermediate goods import, gold import