Exports does well in June but trade imbalance becomes grimmer
By TIOL News Service
NEW DELHI, JULY 14 2018: DEBILITATING impact of rising crude prices can clearly be seen from the latest Trade Imbalance data. As per the latest statistics, the trade deficit for June 2018 was estimated at USD 16.6 bn as against the deficit of USD 12.96 bn during June 2017.
As per RBI's Press Release issued yesterday, the trade balance in Services (i.e. net export of Services) for May, 2018 was estimated at USD 5.97 bn.
OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-June 2018-19 is estimated at USD 32.32 bn as compared to USD 28.55 bn during April-June2017-18.
Exports during June 2018 were valued at USD 27.70 Billion as compared to USD 23.56 Billion during June 2017 exhibiting a positive growth of 17.57 per cent. In Rupee terms, exports were valued at Rs. 187800.20 crore in June 2018 as compared to Rs. 151844.56 crore during June 2017, registering a positive growth of 23.68 per cent.
Imports during June 2018 were valued at USD 44.30 Billion (Rs 300351.83 crore) which was 21.31per cent higher in Dollar terms and 27.61 per cent higher in Rupee terms over the level of imports valued at USD 36.52 Billion (Rs. 235361.85 crore) in June 2017. Cumulative value of imports for the period April-June 2018-19 was USD 127.41 Billion (Rs. 854096.98 crore) as against USD 112.26 Billion (Rs. 723631.11 crore) registering a positive growth of 13.49 per cent in Dollar terms and 18.03 per cent in Rupee terms over the same period last year.
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