India’s exports up 3.74% in January; trade deficit narrows

18 Feb 2019 Evaluate

Continuing its growth trajectory for the fourth straight month, India's exports grew by 3.74 percent to $26.36 billion in January, as exports of gems and jewellery, chemicals and pharmaceuticals increased. The trade deficit narrowed to $14.73 billion in January 2019 as against $15.67 billion in the same month previous year. The overall trade deficit for April- January 2018-19 is estimated at $90.58 billion as compared to $75.73 billion during April- January 2017-18.

As per the data released by the Commerce Ministry, exports grew by 3.74% to $26.36 billion in January 2019, as compared to $25.41 billion in the same month a year ago. In Rupee terms, exports were higher by 15.31% to Rs 1,86,453.23 crore in January 2019, as compared to Rs 1,61,697.38 crore in January 2018. Cumulative value of exports for the period April- January 2018-19 was $271.80 billion as against $248.18 billion during the period April- January 2017-18, registering a positive growth of 9.52%. In Rupee terms, it was up by 18.77% to Rs 18,98,358.83 crore from Rs 15,98,311.63 crore.

Non-petroleum and Non Gems and Jewellery exports in January 2019 were $19.90 billion, as compared to $18.40 billion in January 2018, exhibiting a positive growth of 8.17%. Non-petroleum and Non Gems and Jewellery exports in April- January 2018-19 were $197.56 billion, as compared to $183.05 billion for the corresponding period in 2017-18, an increase of 7.92%.

Imports during January 2019 grew marginally by 0.01% to $41.09 billion as compared to imports of $41.08 billion in January 2018, while in rupee terms it was up by 11.16% to Rs 2,90,611.86 crore from Rs 2,61,441.48 crore in January 2018. Cumulative value of imports for the period April- January 2018-19 was $427.73 billion, as against $384.42 billion during the period April- January 2017-18, registering a positive growth of 11.27% over the same period last year. In rupee terms, it was Rs 29,87,918.68 crore, up by 20.68% from Rs 24,75,812.40 crore in the same period last year.

Oil imports in January 2019 were $11.24 billion, which was 3.59% higher, compared to $11.66 billion in January 2018. Oil imports in April- January 2018-19 were $119.34 billion which was 36.65% higher as compared to $87.33 billion over the same period last year. Non-oil imports in January 2019 were estimated at $29.85 billion which was 1.43% higher, compared to $29.42 billion in January 2018. Non-oil imports in April- January 2018-19 were $308.39 billion which was 3.80% higher, compared to $297.09 billion in April- January 2017-18. Non-Oil and Non-Gold imports were $27.53 billion in January 2019, down 0.78% over the same period of last year. Non-Oil and Non-Gold imports were $281.42 billion in April- January 2018-19, up 4.69% over the same period of last year.

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