India’s exports up 4.39%, trade deficit widens to $12.95 billion in June

17 Jul 2017 Evaluate

Extending further the growth momentum since September 2016, India’s exports grew by 4.39% for the tenth straight month to $23.56 billion in June, 2017, on the back of improvement in shipments of chemicals, engineering and marine products. However, the trade deficit widened to $12.95 billion in the month under review, from $8.11 billion in June 2016. The overall trade deficit for April-June 2017-18 is estimated at $28.6 billion as compared to $8.0 billion during April-June 2016-17. Besides, import too rose by 19% in June over corresponding period of previous year, due to rise in inward shipments of oil and gold.

As per the data released by the Commerce Ministry, exports jumped by 4.39% to $23.56 billion in June 2017, as compared to $22.57 billion in the same month a year ago. In the rupee terms exports was higher by 0.04% to Rs 151844.56 crore as compared to Rs 151904.56 crore in June 2016. Cumulative value of exports for the period April-June 2017-18 was $72.21 billion as against $65.31 billion, registering a positive growth of 10.57% over the same period last year. In Rupee terms it was up by 6.52% to Rs 465472.04 crore from Rs 436960.98 crore.

Non-petroleum and Non Gems & Jewellery exports in June 2017 were valued at $ 17.48 billion, against $16.48 billion in June 2016, an increase of 6.02%. Non-petroleum and Non Gems and Jewellery exports during April -June 2017-18 were valued at $52.71 billion, as compared to $48.02 billion for the corresponding period in 2016-17, an increase of 9.75%.

Imports during June 2017, increased by 19.01% to $36.52 billion as compared to $30.68 billion in June 2016, while in rupee terms it was up by 13.96% to Rs 235361.85 crore from Rs 206524.39 crore in June 2016. Cumulative value of imports for the period April-June 2017-18 was $112.26 billion as against $84.54 billion, registering a positive growth of 32.78% over the same period last year. In rupee terms the cumulative imports was Rs 723631.11crore, up by 27.91% from Rs 565754.29 crore in the same period last year.

Oil imports during June, 2017 were valued at $8.12 billion which was 12.04% higher than oil imports valued at $7.25 billion in June 2016. Oil imports during April-June, 2017-18 were valued at $23.17 billion which was 22.98% higher than the oil imports of $18.84 billion in the corresponding period last year. Non-oil imports during June, 2017 were estimated at $28.39 billion which was 21.17% higher than non-oil imports of $23.43 billion in June, 2016. Non-oil imports during April-June 2017-18 were valued at $89.08 billion which was 35.60% higher than the level of such imports valued at $65.69 billion in April-June, 2016-17.

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