Exports picks up in Nov but trade deficit also swells between Apr-Nov
By TII News Service
NEW DELHI, DEC 16, 2017: INDIAN exports seems to be back on rail. It recorded over 30.5% growth in Dollar terms in November month.
Exports during November 2017 are valued at US $ 26195.76 million as compared to US $ 20066.26 million during November,2016. In Rupee terms, exports were valued at Rs. 169912.50 crore as compared to Rs. 135699.47 crore during November,2016, registering a rise of 25.21 per cent.
During November 2017, Major commodity groups of export showing positive growth over the corresponding month of last year are Engineering Goods (43.76%), Petroleum Products (47.68%), Gems & Jewellery (32.69%), Organic & Inorganic Chemicals (54.28%), and Drugs & Pharmaceuticals (13.39%).
Cumulative value of exports for the period April-November 2017-18 was US $ 196482.31 million (Rs 1267771.18 crore) as against US $ 175410.66 million (Rs 1174997.07crore) registering a positive growth of 12.01 per cent in Dollar terms and 7.90 per cent in Rupee terms over the same period last year.
Non-petroleum and Non Gems & Jewellery exports in November 2017 were valued at US $ 19247.56 million as against US $ 15104.42 million in November 2016, an increase of 27.43 %. Non-petroleum and Non Gems and Jewellery exports during April -November 2017-18 were valued at US $ 143528.58 million as compared to US $ 126660.74 million for the corresponding period in 2016-17, an increase of 13.32%.
IMPORTS
Imports during November 2017 were valued at US $ 40024.96 million (Rs 259612.29 crore) which was 19.61 per cent higher in Dollar terms and 14.73 per cent higher in Rupee terms over the level of imports valued at US $ 33461.87 million (Rs. 226288.21 crore) in November, 2016. Cumulative value of imports for the period April-November 2017-18 was US $ 296459.17 million (Rs. 1913047.30 crore) as against US $ 243296.85 million (Rs. 1630199.71 crore) registering a positive growth of 21.85 per cent in Dollar terms and 17.35 per cent in Rupee terms over the same period last year.
Major commodity groups of import showing high growth in November 2017 over the corresponding month of last year are Petroleum, Crude & products (39.14%), Electronic goods (24.97%), Pearls, precious & Semi-precious stones (85.80%), Machinery, electrical & non-electrical (23.24%) and Coal, Coke & Briquettes, etc. (51.80%).
TRADE IN SERVICES (for October, 2017, as per the RBI Press Release dated 15th December 2017)
EXPORTS (Receipts)
Exports during October 2017 were valued at US $ 14,152 million (Rs. 92103.06 Crore) registering a positive growth of 3.06 per cent in dollar terms as compared to positive growth of 0.23 per cent during September 2017 (as per RBI’s Press Release for the respective months).
IMPORTS (Payments)
Imports during October 2017 were valued at US $ 8,700 million (Rs. 56620.73 Crore) registering a positive growth of 2.96 per cent in dollar terms as compared to negative growth of 2.40 per cent during September 2017 (as per RBI’s Press Release for the respective months).
TRADE BALANCE
MERCHANDISE: The trade deficit for November 2017 was estimated at US $ 13829.20 million as against the deficit of US $ 13395.61 million during November 2016.
SERVICES: As per RBI’s Press Release dated 15th December 2017), the trade balance in Services (i.e. net export of Services) for October, 2017 was estimated at US $ 5,452 million.
OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-November 2017-18 is estimated at US $ 60927.86 million as compared to US $ 30095.19 million during April-November 2016-17. (Services data pertains to April-October 2017-18 as October 2017 is the latest data available as per RBI’s Press Release dated 15th December 2017)
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