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India's trade deficit finally shows signs of decline

By TIOL News Service

NEW DELHI, SEPT 11, 2013: THANKS to the double-digit exports growth rate, India's trade deficit has finally shown signs of abatement. As per the latest data, the trade deficit for April-August, 2013-14 was estimated at USD 73366.07 million which was lower than the deficit of USD 74670.54 million during April-August, 2012-13.

Exports during August, 2013 were valued at USD 26135.94 million (Rs. 165202.15 crore) which was 12.97 per cent higher in Dollar terms (28.53 per cent higher in Rupee terms) than the level of USD 23134.47 million (Rs. 128534.68 crore) during August, 2012. Cumulative value of exports for the period April-August 2013 -14 was USD 124426.07 million (Rs724733.44 crore) as against USD 119771.91 million (Rs. 654859.77 crore) registering a growth of 3.89 per cent in Dollar terms and growth of 10.67 per cent in Rupee terms over the same period last year.

IMPORTS

Imports during August, 2013 were valued at USD 37053.85 million (Rs.234212.93 crore) representing a negative growth of 0.68 per cent in Dollar terms and growth of 12.99 per cent in Rupee terms  over the level of imports valued at USD 37307.27 million (Rs. 207278.42 crore) in August, 2012. Cumulative value of imports for the period April-August, 2013-14 was USD 197792.14 million (Rs. 1146140.26 crore) as against USD 194442.45 million (Rs. 1062866.95 crore) registering a growth of 1.72 per cent in Dollar terms and growth of 7.83 per cent in Rupee terms over the same period last year.

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during August, 2013 were valued at USD 15095.3 million which was 17.88  per cent higher than oil imports valued at USD  12805.7 million in the corresponding period last year. Oil imports during April-August, 2013-14 were valued at USD 69679.6 million which was 5.60 per cent higher than the oil imports of USD 65982.0 million in the corresponding period last year.

Non-oil imports during August, 2013 were estimated at USD 21958.6 million which was 10.4 per cent lower than non-oil imports of USD 24501.6 million in August, 2012. Non-oil imports during April-August, 2013-14 were valued at USD 128112.5 million which was 0.3 per cent lower than the level of such imports valued at USD 128460.5 million in April-August, 2012-13.


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