India’s April-September trade deficit seen lower at $67.99 billion

India added $10.48 billion to its trade deficit in September, taking total trade deficit so far during the financial year to $67.99 billion. Trade deficit for April-September 2015-16, however, was lower compared to the deficit of $72.69 billion during April-September 2014-15.

While the trade deficit was lower at $10.48 billion in September against $12.5 billion in August, mainly on lower gold and oil imports, data released by the commerce ministry showed a 24.33 per cent fall in India's exports at $21.84 billion.

Imports fell 25.42 per cent from a year earlier to $32.32 billion during the month, data showed.

Exports during September 2015 were valued at $21.84 billion (Rs144,652.67 crore), which was 24.33 per cent lower in dollar terms and 17.67 per cent lower in rupee terms compared to the level of $28.87 billion (Rs175,703.03 crore) during September 2014.

Cumulative value of exports for April-September 2015-16 stood at $132.94 billion (Rs853,586.59 crore) against $161.40 billion (Rs971,716.43 crore) in 2014-15,  registering a negative growth of 17.63 per cent in dollar terms and a 12.16 per cent fall in rupee terms over the same period last year.

Imports during September 2015 were valued at $32.32 billion (Rs214,040.28 crore), which was 25.42 per cent lower in dollar terms and 18.86 per cent lower in rupee terms over the level of imports valued at $43.34 billion (Rs263,799.12 crore) in September 2014.

Cumulative value of imports for the period April-September 2015-16 stood at $200.93 billion (Rs1,290,218.42 crore) against $234.09 billion (Rs1,409,403.56 crore) registering a negative growth of 14.16 per cent in dollar terms and 8.46 per cent fall in rupee terms over the same period last year.

Crude petroleum oil imports during September 2015 were valued at $6.63 billion, which was 54.53 per cent lower than oil imports valued at $14.57 billion in the corresponding period last year.

Oil imports during April-September 2015-16 were valued at $48.13 billion which was 41.58 per cent lower than the oil imports worth $82.38 billion in the corresponding period last year.

Non-oil imports during September 2015 were estimated at $25.70 billion, which was 10.68 per cent lower than non-oil imports of $28.77 billion in September 2014.

Non-oil imports during April-September 2015-16 were valued at $152.81 billion, which was 0.72 per cent higher than the level of such imports valued at $151.71 billion in April-September 2014-15.