India’s trade deficit up over $12 billion in July
14 Aug 2014
India's trade deficit increased by $12.23 billion in July, taking the cumulative trade deficit for the April-July 2014-15 to an estimated $45.31 billion, which however, is lower compared to the deficit of $59.91 billion during April-July 2013-14.
Exports during July 2014 were valued at $27.73 billion (Rs1,66,528.07 crore), which was 7.33 per cent higher in dollar terms and 7.83 per cent higher in rupee terms compared to the level of $25.84 billion (Rs1,54,430.24 crore) during July 2013.
Cumulative value of exports for the period April-July 2014-15 stood at $107.84 billion (Rs6,45,456.97 crore) against $99.28 billion (Rs5,65,031.46 crore) in April-July 2013-14 - a growth of 8.62 per cent in dollar terms and a growth of 14.23 per cent in rupee terms over the levels in the year-ago period.
India's imports during July 2014 were valued at $39.96 billion (Rs2,39,971.50 crore) representing a growth of 4.25 per cent in dollar terms and a growth of 4.75 per cent in rupee terms over the level of imports valued at $38.33 billion (Rs2,29,097.87 crore) in July 2013.
Cumulative value of imports for the period April-July 2014-15 stood at $153.15 billion (Rs9,16,666.03 crore) against $159.20 billion (Rs9,03,320.98 crore) - a negative growth of 3.80 per cent in dollar terms and growth of 1.48 per cent in rupee terms over the same period last year.
Crude oil imports, which form the bulk of the country's import bill, were valued at $14.35 billion in July 2014, which was 12.75 per cent higher than oil imports valued at $12.73 billion in the corresponding period last year.
Oil imports during April-July 2014-15 were valued at $55.14 billion, which was 6.65 per cent higher than the oil imports of $51.70 billion in the corresponding period last year.
Non-oil imports during July 2014 were estimated at $25.60 billion, which was 0.03 per cent higher than non-oil imports of $25.60 billion in July 2013.
Non-oil imports during April-July 2014-15 were valued at $98.01 billion, which was 8.82 per cent lower than the level of such imports valued at $107.50 billion in April-July 2013-14.