India’s trade deficit swells to $28.46 billion in April-May
15 Jun 2018
India added an estimated $14.62 billion to its trade deficit in May 2018, taking its cumulative trade deficit for the first two months of the current financial year (April-May 2018-19) to $28.34 billion.
The trade deficit in May 2018 was 5.6 per cent higher at an estimated at $14.62 billion against the deficit of $13.84 billion during May 2017.
Merchandise exports from the country during May 2018 were valued at $28.86 billion (Rs194,928.45 crore) compared to $24.01 billion (Rs154,713.69 crore) during May 2017, showing a growth of 20.18 per cent in dollar terms and a 25.99 per cent growth in rupee terms.
Cumulative value of exports for the period April-May 2018-19 stood at $54.77 billion (Rs364,981.41 crore) against $48.65 billion (Rs313,627.48 crore), showing a growth of 12.58 per cent in dollar terms and a 16.37 per cent increase in rupee terms year-on-year.
Non-petroleum and non-jewellery exports during May 2018 were valued at $19.94 billion compared to $17.51 billion during May 2017, exhibiting a growth of 13.85 per cent. Non-petroleum and non-jewellery exports during April-May 2018-19 were valued at $39.74 billion against $35.23 billion during the corresponding period in 2017-18 - an increase of 12.78 per cent.
Imports during May 2018 were valued at $43.48 billion (Rs293,660.48 crore) which was 14.85 per cent higher in dollar terms and 20.41 per cent higher in rupee terms over the imports valued at $37.86 billion (Rs243,888.74 crore) in May 2017.
Cumulative value of imports in April-May 2018-19 stood at $83.11 billion (Rs553,745.15 crore) against $75.74 billion (Rs488,269.26 crore) in April-May 2017-18, showing a growth of 9.72 per cent in dollar terms and a 13.41 per cent increase in rupee terms over the same period last year.
Oil imports, the highest value item in the country’s import basket, during May 2018 were valued at $11.50 billion (Rs77,654.11 crore), which was 49.46 per cent higher in dollar terms and 56.69 per cent higher in rupee terms compared to $7.69 billion (Rs49,560.16 crore) in May 2017.
Oil imports during April-May 2018-19 were valued at $21.91 billion (Rs145,998.35 crore), which was 45.56 per cent higher in dollar terms and 50.46 per cent higher in rupee terms compared to $15.05 billion (Rs97,032.66 crore) in the corresponding period last year.
Imports of goods other than oil and gold in May 2018 were valued at $28.50 billion, which was 13.09 per cent higher compared to such imports in May 2017. Non-oil and non-gold imports during April-May 2018 were valued at $55.14 billion, which is a growth of 6.28 per cent compared to such imports in April-May 2017.