Staying in positive territory for the fourth consecutive month, India’s merchandise exports grew by 14.32% to $25.77 billion in July 2018, on the back of better performance of gems and jewellery sector as well as petroleum products. However, the overall trade deficit widened to $18.02 billion during the month under review as against $11.45 billion in July 2017, the highest in nearly 5 years. The trade deficit during April- July 2017-18, was $62.96 billion as against $51.50 billion in the same period last year.
As per the data released by the Commerce Ministry, exports increased by 14.32% to $25.77 billion in July 2018, as compared to $22.54 billion in the same month a year ago. In Rupee terms, it was up by 21.84% to Rs 1,77,041.47 crore in July 2018, from Rs 1,45,308.10 crore in July 2017. Cumulative value of exports for the period April- July 2018-19 was $108.24 billion as against $94.76 billion, registering a positive growth of 14.23% over the same period last year. In Rupee terms, it was up by 19.49% to Rs 7,29,823.08 crore from Rs 6,10,780.14 crore.
Non-petroleum and Non Gems & Jewellery exports in July 2018 were valued at $18.68 billion as against $16.98 billion in July 2017, an increase of 9.98%. Non-petroleum and Non Gems and Jewellery exports during April- July 2018-19 were valued at $78.54 billion as compared to $69.70 billion for the corresponding period in 2016-17, an increase of 12.69%.
Imports during July 2018, increased by 28.81% to $43.79 billion as compared to $33.99 billion in July 2017, while in rupee terms it was up by 37.28% to Rs 3,00,784.72 crore from Rs 2,19,108.89 crore in July 2017. Cumulative value of imports for the period April- July 2018-19 was $171.20 billion as against $146.26 billion, registering a positive growth of 17.05% over the same period last year. In rupee terms, it was Rs 11,54,881.70 crore, up by 22.50% from Rs 9,42,740.00 crore in the same period last year.
Oil imports during July 2018 were valued at $12.35 billion which was 57.41% higher than oil imports valued at $7.84 billion in July 2017. Oil imports during April- July 2018-19 were valued at $46.98 billion which was 51.45% higher than the oil imports of $31.02 billion in the corresponding period last year. Non-oil imports during July 2018 were estimated at $31.44 billion which was 20.23% higher than non-oil imports of $26.15 billion in July 2017. Non-oil imports during April- July 2018-19 were valued at $124.21 billion which was 7.79% higher than the level of such imports valued at $115.23 billion in April- July, 2017-18.
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