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India’s exports up 30.55%, imports too rise by 19.61% in November

18 Dec 2017 Evaluate

Reversing the fall witnessed in October, India’s merchandise exports jumped by 30.55% to $26195.76 million in November 2017, on the back of robust growth in shipments of gems and jewellery and engineering goods. However, the overall trade deficit widened to $13829.20 million in November 2017 as against $13395.61 million in the year-ago period. The trade deficit during April-November 2017-18, was $99976.86 million as against $67886.19 million in the same period last year. 

As per the data released by the Commerce Ministry, exports grew by 30.55% to $26195.76 million in November 2017, as compared to $20066.26 million in the same month a year ago. In Rupee terms exports was higher by 25.21% to Rs 169912.50 crore in November 2017, as compared to Rs 135699.47 crore in November 2016. Cumulative value of exports for the period April-November 2017-18 was $196482.31 million as against $175410.66 million, registering a positive growth of 12.01% over the same period last year. In Rupee terms it was up by 7.90% to Rs 1267771.18 crore from Rs 1174997.07 crore.

Non-petroleum and Non Gems & Jewellery exports in November 2017 were valued at $19247.56 million against $15104.42 million in November 2016, an increase of 27.43%. Non-petroleum and Non Gems and Jewellery exports during April-November 2017-18 were valued at $143528.58 million as compared to $126660.74 million for the corresponding period in 2016-17, an increase of 13.32%.

Imports during November 2017, increased by 19.61% to $40024.96 million as compared to  $33461.87 million in November 2016 and in rupee terms it was up by 14.73% to Rs 259612.29 crore from Rs 226288.21 crore in November 2016. Cumulative value of imports for the period April- November 2017-18 was $296459.17 million as against $243296.85 million, registering a positive growth of 21.85% over the same period last year. In rupee terms the cumulative value of imports was Rs 1913047.30 crore, up by 17.35% as against Rs 1630199.71 crore in the same period last year.

Oil imports during November, 2017 were valued at $9550.97 million which was 39.14% higher than oil imports valued at $6864.25 million in November 2016. Oil imports during April- November, 2017-18 were valued at $65802.97 million which was 22.65% higher than the oil imports of $53652.71 million in the corresponding period last year. Non-oil imports during November, 2017 were estimated at $30473.99 million which was 14.57% higher than non-oil imports of $26597.62 million in November, 2016. Non-oil imports during April- November 2017-18 were valued at $230656.20 million which was 21.63% higher than the level of such imports valued at $189644.14 in April- November, 2016-17.


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