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Exports grow by 5.2 per cent in April this year

Indiaís exports rose by 5.2 per cent year on year to 25.9 billion US Dollars in April this year on back of good show by sectors like engineering, pharmaceuticals and chemicals according to commerce department data released a few days ago.

Imports during the month (April 2018) were valued at 36.9 billion US Dollars, up by 4.6 per cent over April 2017.

The gap between exports and imports which constitute the trade deficit was marginally higher at 13.7 billion US Dollars during april this year compared to 13.2 billion dollars during the same month previous year (2017).

 Major commodity groups showing positive export growth in  April on an annual basis include engineering goods (17.6 per cent) Chemicals (38.5 per cent) pharmaceuticals (13.6 per cent) Yarn and handloom products (15,7 per cent) and plastic and linoleum (30 per cent)

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during April 2018 were valued at US $ 25.91 Billion as compared to US $ 24.64 Billion during April 2017 exhibiting a positive growth of 5.17 per cent. In Rupee terms, exports were valued at Rs. 170052.96 crore in April 2018 as compared to Rs. 158913.79 crore during April 2017, registering a positive growth of 7.01 per cent.

During April 2018, major commodity groups of export showing positive growth over the corresponding month of last year are

Non-petroleum and Non Gems & Jewellery exports in April 2018 were valued at US $ 19.80 Billion as against US $ 17.72 Billion in April 2017, an increase of 11.73%.

 

IMPORTS

Imports during April 2018 were valued at US $ 39.63 Billion (Rs 260084.67 crore) which was 4.60 per cent higher in Dollar terms and 6.43 per cent higher in Rupee terms over the level of imports valued at US $ 37.88 Billion (Rs. 244380.52 crore) in April 2017.

Major commodity groups of import showing high growth in April 2018 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during April 2018 were valued at US $ 10.41 Billion which was 41.49 percent higher than oil imports valued at US $ 7.36 Billion in April 2017. In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 35.20 % in April 2018 vis-ŗ-vis April 2017 as per World Bank commodity price data (The pink sheet).

Non-oil imports during April 2018 were estimated at US $ 29.21 Billion which was 4.30 per cent lower than non-oil imports of US $ 30.53 Billion in April 2017.

 

II. TRADE IN SERVICES (for March, 2018, as per the RBI Press Release dated 15th May 2018)

EXPORTS (Receipts)

Exports during March 2018 were valued at US $ 16.83 Billion (Rs. 109456.91 Crore) registering a positive growth of 7.16 per cent in dollar terms as compared to negative growth of 3.84 per cent during February 2018 (as per RBIís Press Release for the respective months).

IMPORTS (Payments)

Imports during March 2018 were valued at US $ 10.28 Billion (Rs. 66841.93 Crore) registering a positive growth of 1.35 per cent in dollar terms as compared to positive growth of 3.01 per cent during February 2018 (as per RBIís Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for April 2018 was estimated at US $ 13.72 Billion as against the deficit of US $ 13.25 Billion during April 2017.

SERVICES: As per RBIís Press Release dated 15th May 2018, the trade balance in Services (i.e. net export of Services) for March, 2018 was estimated at US $ 6.55 Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2017-18 is estimated at US $ 80.61 Billion as compared to US $ 41.79 Billion during April-March 2016-17. (Services data for Apr-Mar 2017-18 is arrived by adding Quarterly data of RBI on BOP basis for 3 quarters (Apr-Dec 2017) & the QE data of Jan, Feb & Mar 2018 therefore it is provisional)

 

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