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India’s exports up 4.48%, imports too advance by 10.41% in February 2018

16 Mar 2018 Evaluate

Continuing its growth trajectory for the fourth straight month, India’s merchandise exports grew by 4.48% to $25834.36 million in February 2018, led by increasing outbound shipments of petroleum products, and organic, inorganic chemicals. However, the overall trade deficit widened to $11979.21 million during the month under review as against $9521.73 million in February 2017. The trade deficit during April- February 2017-18 was $143134.73 million as against $97858.73 million in the same period last year. 

As per the data released by the Commerce Ministry, exports grew by 4.48% to $25834.36 million in February 2018, as compared to $24726.71 million in the same month a year ago. In Rupee terms exports increased by 0.27% to Rs 166305.72 crore in February 2018, as compared to Rs 165855.64 crore in February 2017. Cumulative value of exports for the period April- February 2017-18 was $273730.91 million as against $246550.17 million, registering a positive growth of 11.02% over the same period last year. In Rupee terms it increased by 6.43% to Rs 1762897.63 crore from Rs 1656399.85 crore.

Non-petroleum and Non Gems & Jewellery exports in February 2018 were valued at $18792.79 million against $18176.00 million in February 2017, an increase of 3.39%. Non-petroleum and Non Gems and Jewellery exports during April- February 2017-18 were valued at $200030.96 million as compared to $179457.88 million for the corresponding period in 2016-17, an increase of 11.46%.

Imports during February 2018, advanced by 10.41% to $37813.57 million as compared to $34248.44 million in February 2017 and in rupee terms it was up by 5.96% to Rs 243420.48 crore from Rs 229723.10 crore in February 2017. Cumulative value of imports for the period April-February 2017-18 was $416865.64 million as against $344408.90 million, registering a positive growth of 21.04% over the same period last year. In rupee terms the cumulative value of imports was Rs 2684600.75 crore, up by 15.99% as against Rs 2314510.09 crore in the same period last year.

Oil imports during February 2018, were valued at $10194.33 million which was 32.05% higher than oil imports valued at $7719.84 million in February 2017. Oil imports during April- February, 2017-18 were valued at $98002.25 million which was 26.92% higher than the oil imports of $77213.52 million in the corresponding period last year. Non-oil imports during February, 2018 were estimated at $27619.24 million which was 4.11% higher than non-oil imports of $26528.60 million in February 2017. Non-oil imports during April- February 2017-18 were valued at $318863.39 million which was 19.34% higher than the level of such imports valued at $267195.38 in April- February, 2016-17.

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