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India's trade deficit on decline - Looks good!

 

By TIOL News Service

NEW DELHI, JAN 16, 2020: INDIA'S overall exports in April-December 2019-20 are estimated to be USD 397.48 billion, exhibiting a positive growth of 0.93 per cent over the same period last year. Overall imports in April-December 2019-20 are estimated to be USD 455.14 billion, exhibiting a negative growth of (-) 5.82 per cent over the same period last year.

Exports in December 2019 were USD27.36 billion, as compared to USD27.86 billion in December 2018, exhibiting a negative growth of (-) 1.80 per cent. In Rupee terms, exports were Rs. 1,94,764.74 crore in December 2019, as compared to Rs. 1,97,044.76 crore in December 2018, registering a negative growth of (-)1.16 per cent.

Cumulative value of exports for the period April-December 2019-20 was USD239.29 billion (Rs.16,84,558.61 crore) as against USD244.08 billion (Rs.17,02,261.31 crore) during the period April-December 2018-19, registering a negative growth of (-) 1.96 per cent in Dollar terms (negative growth of (-) 1.04 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery exports in December 2019 were USD21.05 billion, as compared to USD21.16 billion in December 2018, exhibiting a negative growth of (-) 0.54 per cent. Non-petroleum and Non Gems and Jewellery exports in April-December 2019-20 were USD177.81 billion, as compared to USD177.65 billion for the corresponding period in 2018-19, an increase of 0.09 per cent.

Imports in December 2019 were USD38.61 billion (Rs.2,74,883.64 crore), which was 8.83 per cent lower in Dollar terms and 8.24 per cent lower in Rupee terms over imports of USD42.35 billion (Rs.2,99,553.40 crore) in December 2018. Cumulative value of imports for the period April-December 2019-20 was USD357.39 billion (Rs.25,14,783.82 crore), as against USD392.31 billion (Rs.27,37,092.01 crore) during the period April-December 2018-19, registering a negative growth of (-) 8.90 per cent in Dollar terms (negative growth of (-) 8.12 per cent in Rupee terms).

As per the latest press release by RBI dated 15th January 2020, exports in November 2019 were USD 18.00 billion (Rs. 1,28,584.48 crore) registering a positive growth of 7.91 per cent in dollar terms, vis-a-vis November 2018. The estimated value of services export for December 2019 is USD 17.92 billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-December 2019-20 is estimated at USD 57.66 billion as compared to USD 89.46 billion in April-December 2018-19. 


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