India’s trade deficit rises $16.3 bn in January to $131.16 bn

India's trade deficit widened to $16.30 billion in January from $14.88 billion in the previous month, taking the country's overall trade deficit in the April-January 2017-18 period to $131.16 billion, official data released today showed

Merchandise trade deficit for January 2018 was estimated at $16.30 billion in January 2018 against a deficit of $9.90 billion in January 2017.

India's exports, which have shown positive trend since August 2017, have grown at 9.07 per cent in January. Exports had dipped 1.1 per cent in October 2017.

Exports during January 2018 were valued at $24.38 billion (Rs155,172.00 crore) against $22.36 billion (Rs152,202.70 crore) during January 2017, showing a growth of 1.95 per cent.

Major commodity groups of export showing positive growth in January 2018 over the corresponding month last year include engineering goods (15.77 per cent), petroleum products (39.5 per cent), gems and jewellery (0.89 per cent), organic and inorganic chemicals (33.6 per cent) and drugs and pharmaceuticals (8.6 per cent).

Cumulative value of exports in April-January 2017-18 stood at $247.90 billion (Rs1,596,591.91 crore) against $221.82 billion (Rs1,490,544.21 crore) showing a growth of 11.75 per cent in dollar terms and 7.11 per cent in rupee terms..

Non-petroleum and non-gems and jewellery exports in January 2018 were valued at $17.52 billion against $16.61 billion in January 2017, an increase of 5.51 per cent. Non-petroleum and non-gems and jewellery exports during April-January 2017-18 were valued at $181.24 billion against $161.28 billion in the corresponding period in 2016-17, an increase of 12.37 per cent.

The country imported goods valued at $40.68 billion (Rs258,890.43 crore) in January 2018, which was 26.10 per cent higher in dollar terms and 17.87 per cent higher in rupee terms over the level of imports valued at $32.26 billion (Rs219,635.13 crore) in January 2017. Cumulative value of imports for the April-January 2017-18 period stood at $379.05 billion (Rs2,441,180.27 crore) against $310.16 billion (Rs2,084,786.99crore) posting a growth of 22.21 per cent in dollar terms and a 17.09 per cent growth in rupee terms year-on year.

Major commodity groups of import showing high growth in January 2018 included petroleum, crude and products (42.64 per cent), electronic goods (12.19 per cent), machinery, electrical and non-electrical (29.11 per cent), pearls, precious and semi-precious stones (55.71 per cent) and coal, coke and briquettes etc (31.67 per cent).

Oil imports during January 2018 were valued at $11.66 billion, which was 42.64 per cent higher than oil imports valued at $8.17 billion in January 2017. Oil imports during April-January 2017-18 were valued at $87.81 billion, which was 26.35 per cent higher than oil imports of $69.49 billion in the corresponding period last year.

Non-oil imports during January 2018 were estimated at $29.02 billion, which was 20.49 per cent higher than non-oil imports of $24.09 billion in January 2017. Non-oil imports during April-January 2017-18 were valued at $291.24 billion, which was 21.02 per cent higher than the level of such imports valued at $240.67 billion in April-January 2016-17.