Kerala’s Export Earnings Witness Downturn Amid Global Recession

Kerala, a significant player in India’s export landscape, experienced a dip of Rs 119.48 crore in export earnings from April to October in the current fiscal year. The state’s income during this period stood at Rs 20,795.33 crore, marking a decline from Rs 20,914.81 crore during the same timeframe in the previous financial year (2022). Kerala’s share in the country’s total exports has contracted, now accounting for a nominal 1.03 percent, while Gujarat leads with 31.49 percent, followed by Maharashtra at 16 percent and Tamil Nadu at 10 percent.

The evident reduction in Kerala’s export earnings is attributed to the ongoing global economic recession, exacerbated by factors such as the red sea crisis and the prevailing global uncertainties. Projections indicate that the decline in export earnings may persist in the coming months. In the fiscal year 2022-23, Kerala’s total export income reached Rs 35,116.09 crore, compared to Rs 34,158.08 crore in 2021-22. Notably, Ernakulam district emerged as the primary contributor to Kerala’s exports, generating revenue of Rs 10,924.16 crore between April and October in the previous year. Alappuzha, Thiruvananthapuram, and Kozhikode also made significant contributions, recording exports worth Rs 3,105.19 crore, Rs 1,222.03 crore, and Rs 608.20 crore, respectively.