Continuing its growth trajectory for the second straight month, India’s merchandise exports grew to a six-month high of 20.18 percent in the month of May 2018, boosted by a rise in receipts of petroleum, engineering and pharmaceutical products. However, trade deficit widened to $14.62 billion during the month under review as against $13.84 billion in May 2017, the highest in nearly four months and mainly because of rising oil imports.
As per the data released by the Commerce Ministry, exports increased by 20.18% to $28.86 billion in May 2018, as compared to $24.01 billion in the same month a year ago. In Rupee terms, it was up by 25.99% to Rs 194928.45 crore in May 2018, from Rs 154713.69 crore in May 2017. Cumulative value of exports for the period April-May 2018-19 was $54.77 billion as against $48.65 billion, registering a positive growth of 12.58% over the same period last year. In Rupee terms, it was up by 16.37% to Rs 364981.41 crore from Rs 313627.48 crore.
Non-petroleum and Non Gems & Jewellery exports in May 2018 were valued at $19.94 billion as against $17.51 billion in May 2017, an increase of 13.85%. Non-petroleum and Non Gems and Jewellery exports during April-May 2018-19 were valued at $39.74 billion as compared to $35.23 billion for the corresponding period in 2016-17, an increase of 12.78%.
Imports during May 2018, increased by 14.85% to $43.48 billion as compared to $37.86 billion in May 2017, while in rupee terms it was up by 20.41% to Rs 293660.48 crore from Rs 243888.74 crore in May 2017. Cumulative value of imports for the period April-May 2018-19 was $83.11 billion as against $75.74 billion, registering a positive growth of 9.72% over the same period last year. In rupee terms, it was Rs 553745.15 crore, up by 13.41% from Rs 488269.26 crore in the same period last year.
Oil imports during May 2018 were valued at $11.50 billion which was 49.46% higher than oil imports valued at $7.69 billion in May 2017. Oil imports during April-May 2018-19 were valued at $21.91 billion which was 45.56% higher than the oil imports of $15.05 billion in the corresponding period last year. Non-oil imports during May 2018 were estimated at $31.98 billion which was 6.03% higher than non-oil imports of $30.16 billion in May 2017. Non-oil imports during April-May 2018-19 were valued at $61.19 billion which was 0.83% higher than the level of such imports valued at $60.69 billion in April-May, 2017-18.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: