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India's Trade Deficit for Apr-May pegged at USD 21409 mn

By TIOL News Service

NEW DELHI, JUNE 16, 2017: TAKING merchandise and services together, overall trade deficit for April- May 2017-18 is estimated at USD 21408.91 million as compared to USD 5392.77 million during April-May 2016-17. The trade deficit for May 2017 was estimated at USD 13841.72 million as againstthe deficit of USD 6272.90 million during May 2016. As per RBI’s Press Release dated 15th June 2017, the trade balance in Services (i.e. net export of Services) for April, 2017 was estimated at USD 5682 million.

Exports during April 2017 were valued at USD 12904 Million (Rs. 83239.96 Crore) registering a negative growth of 8.99 per cent in dollar terms as compared to positive growth of 8.57 per cent during March 2017.

Imports during April 2017 were valued at USD 7222 Million (Rs. 46587.03Crore) registering a negativegrowth of 12.64per cent in dollar terms as compared to positive growth of 14.26 per cent during March 2017 (as per RBI’s Press Release for the respective months).

Exports have been exhibiting positive growth for the last eight months. In continuation withgrowth indicated by exports since September 2016, exports during May 2017have shown growth of 8.32per cent in dollar terms valued at USD 24014.62million as compared to USD 22170.62 million during May,2016. In Rupee terms, duringMay 2017 exports were valued at Rs. 154713.69crore as compared to Rs. 148336.31crore during May,2016, registering a positive growth of 4.30 per cent.

During May 2017, Major commodity groups of export having a share of 72.09% in total export basket which have shown positive growth over the corresponding month of last year are Engineering Goods (8.25%), Gems& Jewellery (6%), Petroleum Products (24.92%), RMG of all Textiles (8.06%), Organic & Inorganic Chemicals (15.34%),Rice (27.08%), Marine Products (44.58%) and Electronic Goods (8.57%).

Cumulative value of exports for the period April-May 2017-18 was USD 48649.71 million (Rs 313627.48 crore) as against USD 42739.47 million (Rs 285056.42 crore) registering a positive growth of 13.83 per cent in Dollar terms and 10.02 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in May 2017 were valued at USD 17514.36million against USD 16404.31million in May 2016, an increase of 6.77 %. Non-petroleum and Non Gems and Jewellery exports during April -May 2017-18 were valued at USD 35233.23 million as compared to USD 31540.72 million for the corresponding period in 2016-17, an increase of 11.71%.

IMPORTS

Imports during May 2017 were valued at USD 37856.34 million (Rs. 243888.74 crore) which was 33.09per cent higher in Dollar terms and 28.16per cent higher in Rupee terms over the level of imports valued at USD 28443.52 million (Rs. 190306.19crore) in May, 2016. Cumulative value of imports for the period April-May 2017-18 was USD 75740.62 million (Rs. 488269.26 crore) as against USD 53857.24 million (Rs. 359229.90 crore) registering a positive growth of 40.63 per cent in Dollar terms and 35.92 per cent in Rupee terms over the same period last year.

Major commodity group of imports showing high growth in May 2017 over the corresponding month of last yearare Petroleum, Crude &products (29.54%),Gold(236.69%), Electronic goods(34.16%), Pearls, precious & Semi-precious stones(37.61%) and Machinery, electrical & non-electrical(6.42%).


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