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  3. Trade deficit narrows MoM by 6.8% in April

Trade deficit narrows MoM by 6.8% in April

16 May 2015 Evaluate

India's foreign trade deficit has narrowed by 6.8 percent in April to $ 10992.30 million from $ 11.79 billion in the previous month. However, it was higher by 9 percent when compared with $ 10085.95 million trade deficit in April 2014. India's exports continued to slump for the fifth straight month, dragged down by a fall in global demand. The trade deficit would have been much higher than $10992.30 million but for the decline in the value of oil imports by more than 42 per cent from a year earlier.

Exports valued at $ 22054.72 million witnessed a drop of 13.96 percent during April, 2015 to $ 25634.08 billion during April, 2014. In rupee terms, exports stood at Rs 138400.44 crore, down 10.55 percent from Rs 154718.60 crore, a year ago. The slump in exports was mainly due to global slowdown; dip in crude oil prices and rupee appreciation. The last time exports registered positive growth was in November last year when recorded 7.27 per cent expansion.

Imports during April, 2015 stood at $ 33047.02, lower by 7.48 per cent in Dollar terms over the level of imports valued at $35720.03 million in April, 2014. In rupee terms, Imports valued at Rs 207380.63 crore, 3.81 per cent lower compared to Rs 215593.93 crore in April, 2014. Oil imports during April, 2015 were 42.65 per cent lower at $7442.92 million than oil imports valued at $ 12977.83 million in the corresponding period last year.  Non-oil imports during April, 2015 were estimated at $ 25604.10 million higher by 12.58 per cent compared to $ 22742.20 million in April, 2014, mainly contributed by gold imports which surged by 78.33 per cent to $ 3.13 billion as against $ 1.75 billion in the month under review.

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