India’s exports up 17.57% in June; trade deficit widens to 43-month high

16 Jul 2018 Evaluate

Staying in positive territory for the third consecutive month, India’s merchandise exports grew by 17.57% to $27.70 billion in June 2018, on the back of healthy growth in sectors such as petroleum and chemicals. However, the overall trade deficit widened to $16.60 billion during the month under review as against $12.96 billion in June 2017, the highest in nearly 43 months. The trade deficit during April- June 2017-18, was $44.94 billion as against $40.05 billion in the same period last year.

As per the data released by the Commerce Ministry, exports increased by 17.57% to $27.70 billion in June 2018, as compared to $23.56 billion in the same month a year ago. In Rupee terms, it was up by 23.68% to Rs 187800.20 crore in June 2018, from Rs 151844.56 crore in June 2017. Cumulative value of exports for the period April- June 2018-19 was $82.47 billion as against $72.21 billion, registering a positive growth of 14.21% over the same period last year. In Rupee terms, it was up by 18.76% to Rs 552781.61 crore from Rs 465472.04 crore.

Non-petroleum and Non Gems & Jewellery exports in June 2018 were valued at $20.13 billion as against $17.48 billion in June 2017, an increase of 15.13%. Non-petroleum and Non Gems and Jewellery exports during April- June 2018-19 were valued at $59.86 billion as compared to $52.71 billion for the corresponding period in 2016-17, an increase of 13.56%.

Imports during June 2018, increased by 21.31% to $44.30 billion as compared to $36.52 billion in June 2017, while in rupee terms it was up by 27.61% to Rs 300351.83 crore from Rs 235361.85 crore in June 2017. Cumulative value of imports for the period April- June 2018-19 was $127.41 billion as against $112.26 billion, registering a positive growth of 13.49% over the same period last year. In rupee terms, it was Rs 854096.98 crore, up by 18.03% from Rs 723631.11 crore in the same period last year.

Oil imports during June 2018 were valued at $12.73 billion which was 56.61% higher than oil imports valued at $8.13 billion in June 2017. Oil imports during April- June 2018-19 were valued at $34.64 billion which was 49.44% higher than the oil imports of $23.18 billion in the corresponding period last year. Non-oil imports during June 2018 were estimated at $31.58 billion which was 11.20% higher than non-oil imports of $28.40 billion in June 2017. Non-oil imports during April- June 2018-19 were valued at $92.77 billion which was 4.14% higher than the level of such imports valued at $89.09 billion in April- June, 2017-18.

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