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India’s overall exports expected to grow in April-September 2018-19

India’s overall exports in April-September 2018-19 are estimated to be USD 265.39 billion, exhibiting a positive growth of 17.38 per cent over the same period last year.

India’s overall exports expected to grow in April-September 2018-19

India’s overall exports in April-September 2018-19 are estimated to be USD 265.39 billion, exhibiting a positive growth of 17.38 per cent over the same period last year. Overall imports in April- September 2018-19 are estimated to be USD 321.40 Billion, exhibiting a positive growth of 19.41 per cent over the same period last year. The same was stated in a statement released by the Ministry of Commerce and Industry on Tuesday.

With regard to merchandise trade, exports in September 2018 showed a slump of 2.15 per cent at USD 27.95 billion, against USD 28.57 billion in September 2017. In Rupee terms, exports were Rs. 2,01,857.62Crore in September 2018, as compared to Rs. 1,84,088.94 Crore in September 2017, registering a positive growth of 9.65per cent.

According to the release by the ministry, Cumulative value of exports for the period April-September 2018-19 was USD 164.04 Billion (Rs 11,25,305.44 Crore) as against USD 145.75 Billion (Rs 9,38,307.83 Crore) during the period April-September 2017-18, registering a positive growth of 12.54per cent in Dollar terms (19.93 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery exports in September 2018 were USD 19.80 Billion, as compared to USD 20.31 Billion in September 2017, exhibiting a negative growth of 2.49 per cent. Non-petroleum and Non Gems and Jewellery exports in April-September 2018-19 were USD 119.05 Billion, as compared to USD 107.91 Billion for the corresponding period in 2017-18, an increase of 10.32 per cent.

Imports in September grew by 10.45 per cent to USD 41.9 billion, according to the commerce ministry data released Monday.

The trade deficit, or the gap between imports and exports, narrowed to USD 13.98 billion in the last month as against USD 9.4 billion in September 2017.

Besides engineering and gems and jewellery, shipments of tea, coffee, rice, cashew, leather, textiles, carpet and handicrafts also declined in September 2018.

Oil imports in September rose by 33.59 per cent to USD 10.91 billion. In April-September this fiscal, the imports increased by 50 per cent to USD 69.73 billion.

Similarly, non-oil imports in September grew by 4.11 per cent to USD 31.02 billion. It recorded a growth of 7.21 per cent to USD 188.63 billion during the first six months of this fiscal.

During April-September 2018-19, exports recorded a growth of 12.54 per cent to USD 164 billion.

Imports during the period rose by 16.16 per cent to USD 258.36 billion, leaving a trade deficit of USD 94.32 billion in the first half of the current fiscal.

(With PTI Inputs)