India’s exports up 0.34% in December; trade deficit narrows to 10-month low

16 Jan 2019 Evaluate

Continuing growth momentum for the third straight month, India's exports grew by a meagre 0.34 percent to $27.93 billion in December. The trade deficit narrowed to ten-month low of $13.08 billion in December 2018 as against $14.20 billion in the same month previous year. The overall trade deficit for April- December 2018-19 is estimated at $82.72 billion as compared to $69.63 billion during April- December 2017-18.

As per the data released by the Commerce Ministry, exports grew by 0.34% to $27.93 billion in December 2018, as compared to $27.83 billion in the same month a year ago. In Rupee terms, exports were higher by 10.48% to Rs 1,97,535.86 crore in December 2018, as compared to Rs 1,78,802.77 crore in December 2017. Cumulative value of exports for the period April- December 2018-19 was $245.44 billion as against $222.77 billion during the period April- December 2017-18, registering a positive growth of 10.18%. In Rupee terms, it was up by 19.16% to Rs 17,11,905.60 crore from Rs 14,36,614.25 crore.

Non-petroleum and Non Gems and Jewellery exports in December 2018 were $21.11 billion, as compared to $20.88 billion in December 2017, exhibiting a positive growth of 1.08%. Non-petroleum and Non Gems and Jewellery exports in April- December 2018-19 were $177.66 billion, as compared to $164.66 billion for the corresponding period in 2017-18, an increase of 7.90%.

Imports during December 2018 increased by 2.44% to $41.01 billion as compared to imports of $42.03 billion in December 2017, while in rupee terms it was up by 7.41% to Rs 2,90,032.95 crore from Rs 2,70,015.44 crore in December 2017. Cumulative value of imports for the period April- December 2018-19 was $386.65 billion, as against $343.34 billion during the period April- December 2017-18, registering a positive growth of 12.61% over the same period last year. In rupee terms, it was Rs 26,97,306.82 crore, up by 21.81% from Rs 22,14,370.92 crore in the same period last year.

Oil imports in December 2018 were $10.67 billion, which was 3.16% higher, compared to $10.35 billion in December 2017. Oil imports in April- December 2018-19 were $108.10 billion which was 42.85% higher as compared to $75.67 billion over the same period last year. Non-oil imports in December 2018 were estimated at $30.33 billion which was 4.27% lower, compared to $31.69 billion in December 2017. Non-oil imports in April- December 2018-19 were $278.54 billion which was 4.06% higher, compared to $267.66 billion in April- December 2017-18. Non-Oil and Non-Gold imports were $27.76 billion in December 2018, down 1.86% over the same period of last year. Non-Oil and Non-Gold imports were $253.89 billion in April- December 2018-19, up 5.32% over the same period of last year.

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