June exports up but trade deficit in merchandise grows
By TIOL News Service
NEW DELHI, JULY 15, 2017: INDIA's exports in the month June has registered a growth rate of 4.4%. Although the trade balance in Services for May, 2017 was estimated to be USD 5815 mn but the trade deficit in merchandise for the month of June was estimated at USD 12959.86 million as against the deficit of USD 8116.24 million during June 2016.
During June 2017, Major commodity groups of export showing positive growth over the corresponding month of last year are Engineering Goods (14.78%), Petroleum Products (3.60%), Organic & Inorganic Chemicals (13.20%), Rice (27.29%) and Marine Products (24.27%).
Cumulative value of exports for the period April-June 2017-18 was USD 72212.33million (Rs 465472.04 crore) as against USD 65311.77 million (Rs 436960.98 crore) registering a positive growth of 10.57 per cent in Dollar terms and 6.52 per cent in Rupee terms over the same period last year.
Non-petroleum and Non Gems & Jewellery exports in June 2017 were valued at USD 17480.56 million against USD 16488.23 million in June 2016, an increase of 6.02 %. Non-petroleum and Non Gems and Jewellery exports during April -June 2017-18 were valued at USD 52713.79 million as compared to USD 48028.95 million for the corresponding period in 2016-17, an increase of 9.75%.
Imports during June 2017 were valued at USD 36522.48 million (Rs 235361.85 crore) which was 19.01 per cent higher in Dollar terms and 13.96 per cent higher in Rupee terms over the level of imports valued at USD 30688.54 million (Rs. 206524.39 crore) in June, 2016. Cumulative value of imports for the period April-June 2017-18 was USD 112263.10 million (Rs. 723631.11crore) as against USD 84545.78 million (Rs. 565754.29 crore) registering a positive growth of 32.78 per cent in Dollar terms and 27.91per cent in Rupee terms over the same period last year.
Major commodity group of imports showing high growth in June 2017 over the corresponding month of last year are Petroleum, Crude & products (12.04%), Electronic goods (24.22%), Pearls, precious & Semi-precious stones (86.31%) , Machinery, electrical & non-electrical (7.02%) and Gold(102.99%).