India’s April-December trade deficit hits $118.10 billion

The trade deficit for December 2019, estimated at $11.25 billion, however, was lower compared to the deficit of $14.49 billion in December 2018.

Merchandise exports from the country in December 2019 stood at $27.36 billion (Rs1,94,764.74 crore) compared to $27.86 billion (Rs1,97,044.76 crore) in December 2018, showing a negative growth of (-)1.80 per cent in dollar terms and a negative growth of (-) 1.16 per cent in rupee terms.

Cumulative value of exports for the period April-December 2019-20 stood at $239.29 billion (Rs16,84,558.61 crore) against $244.08 billion (Rs17,02,261.31 crore) during April-December 2018-19, registering a negative growth of (-) 1.96 per cent in dollar terms and a negative growth of (-) 1.04 per cent in rupee terms.

Non-petroleum and non-jewellery exports in December 2019 stood at $21.05 billion, against $21.16 billion in December 2018, showing a negative growth of (-) 0.54 per cent. Non-petroleum and non-jewellery exports in April-December 2019-20 stood at $177.81 billion, against $177.65 billion in the corresponding period of 2018-19, an increase of 0.09 per cent.

India’s merchandise imports in December 2019 stood at $38.61 billion (Rs2,74,883.64 crore), which was 8.83 per cent lower in dollar terms and 8.24 per cent lower in rupee terms over imports worth $42.35 billion (Rs2,99,553.40 crore) in December 2018. Cumulative value of imports for the period April-December 2019-20 stood at $357.39 billion (Rs.25,14,783.82 crore), against $392.31 billion (Rs27,37,092.01 crore) during the period April-December 2018-19, registering a negative growth of (-) 8.90 per cent in dollar terms and a negative growth of (-) 8.12 per cent in rupee terms.

India’s crude oil imports in December 2019 stood at $10.69 billion (Rs76,136.69 crore), which was 0.83 per cent lower in dollar terms and 0.18 per cent lower in rupee terms compared to $10.78 billion (Rs76,275.54 crore) in December 2018. Oil imports in April-December 2019-20 stood at $95.69 billion (Rs6,73,447.56 crore), which was 11.78 per cent lower in dollar terms and 11.13 per cent lower in rupee terms compared to such imports worth $108.47 billion (Rs7,57,772.55 crore) in the same period last year.

Non-oil imports in December  2019 were estimated at $27.92billion (Rs1,98,746.95 crore), which was 11.56 per cent lower in dollar terms and 10.99 per cent lower in rupee terms, compared to $31.57billion (Rs2,23,277.86 crore) in December 2018. Non-oil imports in April-December 2019-20 stood at $261.70 billion (Rs18,41,336.26 crore), which was 7.80 per cent lower in dollar terms and 6.97 per cent lower in rupee terms, compared to $283.84 billion Rs19,79,319.46 crore in April-December 2018-19.

Non-oil and non-gold imports stood at $25.45 billion in December 2019, recording a negative growth of (-) 12.24 per cent, compared to such imports worth $29.00 billion in December 2018. Non-oil and non-gold imports in April-December 2019-20 stood at $238.64 billion, recording a negative growth of (-) 7.90 per cent, compared to such imports valued at $259.11 billion in April-December 2018-19.

India’s overall exports (merchandise and services combined) in April-December 2019-20 are estimated to be $397.48 billion, which shows a growth of 0.93 per cent over the same period last year. Overall imports in April-December 2019-20 are estimated to be around $455.14 billion, exhibiting a negative growth of (-) 5.82 per cent over the same period last year, according to RB estimates.