India’s exports up 12.36% in December; trade deficit widens to over 3-year high

16 Jan 2018 Evaluate

Staying in positive territory for the second consecutive month, India’s merchandise exports grew by 12.36% to $27030.27 million in December 2017, on account of strong performance by sectors like engineering goods and petroleum products. However, the overall trade deficit widened to $14880.19 million during the month under review as against $10545.99 million in December 2016, the highest in more than three years. The trade deficit during April- December 2017-18, was $114857.05 million as against $78432.18 million in the same period last year.

As per the data released by the Commerce Ministry, exports grew by 12.36% to $27030.27 million in December 2017, as compared to $24056.48 million in the same month a year ago. In Rupee terms exports was higher by 6.31% to Rs 173648.73 crore in December 2017, as compared to Rs 163344.45 crore in December 2016. Cumulative value of exports for the period April-December 2017-18 was $223512.58 million as against $199467.14 million, registering a positive growth of 12.05% over the same period last year. In Rupee terms it was up by 7.70% to Rs 1441419.91 crore from Rs 1338341.51 crore.

Non-petroleum and Non Gems & Jewellery exports in December 2017 were valued at $20186.36 million against $18013.78 million in December 2016, an increase of 12.06%. Non-petroleum and Non Gems and Jewellery exports during April-December 2017-18 were valued at $163714.94 million as compared to $144674.52 million for the corresponding period in 2016-17, an increase of 13.16%.

Imports during December 2017, increased by 21.12% to $41910.46 million as compared to $34602.47 million in December 2016 and in rupee terms it was up by 14.59% to Rs 269242.54 crore from Rs 234952.15 crore in December 2016. Cumulative value of imports for the period April- December 2017-18 was $338369.63 million as against $277899.32 million, registering a positive growth of 21.76% over the same period last year. In rupee terms the cumulative value of imports was Rs 2182289.84 crore, up by 17% as against Rs 1865151.87 crore in the same period last year.

Oil imports during December, 2017 were valued at $10345.88 million which was 34.94% higher than oil imports valued at $7667.01 million in December 2016. Oil imports during April- December, 2017-18 were valued at $76148.85 million which was 24.18% higher than the oil imports of $61319.72 million in the corresponding period last year. Non-oil imports during December, 2017 were estimated at $31564.58 million which was 17.19% higher than non-oil imports of $26935.46 million in December, 2016. Non-oil imports during April- December 2017-18 were valued at $262220.78 million which was 21.07% higher than the level of such imports valued at $216579.60 in April- December, 2016-17.

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