India’s April-January FY20 merchandise trade deficit zooms to $133.27 billion

Merchandise exports from the country stood at $25.97 billion (Rs1,85,204 crore) in January 2020 against $26.41 billion (Rs1,86,801.37 crore) in January 2019, showing a negative growth of (-) 1.66 per cent in dollar terms and a negative growth of (-) 0.86 per cent in rupee terms.

Cumulative value of exports for the period April-January 2019-20 stood at $265.26 billion (Rs18,69,762.61 crore) against $270.49 billion (Rs18,89,062.68 crore) during April-January 2018-19, registering a negative growth of (-) 1.93 per cent in dollar terms and a negative growth of (-) 1.02 per cent in rupee terms.

Export of goods other than petroleum and gems and jewellery stood at $19.97 billion in January 2020 against such exports worth $19.94 billion in January 2019, showing a negative growth of (-) 0.78 per cent. Non-petroleum and non gems and jewellery exports in April-January 2019-20 stood at $197.60 billion against $197.59 billion in the corresponding period in 2018-19.

India’s merchandise imports in January 2020 stood at $41.14 billion (Rs2,93,418.56 crore), which was 0.75 per cent lower in dollar terms and 0.07 per cent higher in rupee terms compared with imports worth $41.46 billion (Rs2,93,225.37 crore) in January 2019. Cumulative value of imports for April-January 2019-20 stood at $398.53 billion (Rs28,08,202.38 crore), against $433.77 billion (Rs30,30,317.38 crore) during April-January 2018-19, registering a negative growth of (-) 8.12 per cent in dollar terms and a negative growth of  (-) 7.33 per cent in rupee terms.

India’s oil imports, the biggest item in its import basket, in January 2020 stood at $12.97 billion (Rs92,502.86 crore), which was 15.27 per cent higher in dollar terms and 16.21 per cent higher in rupee terms, compared with oil imports worth $25 billion (Rs79,596.67 crore) in January2019. Oil imports in April-January 2019-20 stood at $108.66 billion (Rs7,65,950.42 crore), which was 9.24 per cent lower in dollar terms and 8.53 per cent lower in rupee terms compared to such imports valued at $119.72 billion (Rs8,37,369.22 crore) in the similar period last fiscal.

Non-oil imports in January 2020 were estimated at $28.17 billion (Rs2,00,915.70 crore), which was 6.72 per cent lower in dollar terms and 5.95 per cent lower in rupee terms compared with such imports valued at $30.20 billion (Rs2,13,628.70 crore) in January 2019. Non-oil imports in April-January 2019-20 stood at $289.87 billion (Rs20,42,251.96 crore), which was 7.70 per cent lower in dollar terms and 6.87 per cent lower in rupee terms compared with such imports worth $314.04 billion (Rs21,92,948.16 crore) in April-January 2018-19.

Non-oil and non-gold imports were valued at $26.59 billion in January 2020, registering a negative growth of (-) 4.66 per cent against such imports valued at $27.89 billion in January 2019. Non-oil and non-gold imports stood at $265.23 billion in April-January 2019-20, showing a negative growth of (-) 7.59 per cent, compared with such imports valued at $287.00 billion in April-January 2018-19.

Overall trade deficit of the country, taking merchandise and services trade for April-January 2019-20, is estimated at $64.16 billion compared with $97.79 billion in April-January 2018-19.