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India's trade deficit soars to USD 48 bn

 

By TIOL News Service

NEW DELHI, SEPT 15, 2018: INDIA's overall exports in April-August 2018-19 are estimated to be USD 221.83 Billion, exhibiting a positive growth of 20.70 per cent over the same period last year. Overall imports in April-August 2018-19 are estimated to be USD 269.54 Billion, exhibiting a positive growth of 21.01 per cent over the same period last year.

Exports in August 2018 were USD 27.84 Billion, as compared to USD 23.36 Billion in August 2017, exhibiting a positive growth of 19.21 per cent. In Rupee terms, exports were Rs. 1,93,624.74 Crore in August 2018, as compared to Rs. 1,49,398.90 Crore in August 2017, registering a positive growth of 29.60 per cent. 

Non-petroleum and Non-Gems and Jewellery exports in August 2018 were USD 20.70 Billion, as compared to USD 17.78 Billion in August 2017, exhibiting a positive growth of 16.45 per cent. Non-petroleum and Non Gems and Jewellery exports in April-August 2018-19 were USD 99.24 Billion, as compared to USD 87.60 Billion for the corresponding period in 2017-18, an increase of 13.28 %.

Imports in August 2018 were USD 45.24 Billion (Rs 3,14,597.54 Crore), which was 25.41 per cent higher in Dollar terms and 36.34 per cent higher in Rupee terms over imports of USD 36.07 Billion (Rs. 2,30,737.96 Crore) in August 2017. Cumulative value of imports for the period April-August 2018-19 was US $ 216.43 Billion (Rs 14,69,479.24 Crore), as against USD 184.45 Billion (Rs. 11,87,188.89 Crore) during the period April-August 2017-18, registering a positive growth of 17.34 per cent in Dollar terms (23.78 per cent in Rupee terms).

TRADE BALANCE

MERCHANDISE: The trade deficit for August 2018 was estimated at USD 17.39 Billion as against the deficit of USD 12.72 Billion in August 2017.

SERVICES: The trade balance in Services (i.e. Net Services export) for July, 2018 is estimated at USD 6.70 Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-August 2018-19 is estimated at USD 47.72 Billion as compared to USD 38.95 Billion in April-August 2017-18.


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