India starts FY19 with a $15.33 billion trade deficit in April
16 May 2019
India’s trade deficit grew 11.73 per cent to $15.33 million in the first month of the current financial year (April 2018-19), compared with a deficit of $13.72 billion in April 2018, with the country’s imports bulging to $41.40 billion and imports lagging far behind at $26.07 billion.
Merchandise exports from the country during April 2019 stood at $26.07 billion (Rs1,81,021.34 crore), against exports worth $25.91 billion in April 2018, showing a growth of 0.64 per cent in dollar terms and a 6.45 per cent growth in rupee terms.
Exports of goods other than petroleum and gems and jewellery products in April 2019 stood at $19.54 billion, against $19.80 billion in April 2018, showing a decline of 1.31 per cent year-on-year.
Against this, the country’s imports during April 2019 stood at $41.40 billion (Rs2,87,432.93 crore), 4.48 per cent higher in dollar terms and 10.52 per cent higher in rupee terms compared with imports worth $39.63 billion (Rs2,60,084.67 crore) in April 2018.
Imports of crude oil, the biggest item in the country’s import basket, in April 2019 stood at $11.38 billion (Rs78,989.46 crore), which was 9.26 per cent higher in dollar terms and 15.58 per cent higher in rupee terms compared to such imports worth $10.41 billion Rs68,344.24 crore in April 2018.
Non-oil imports in April 2019 were estimated at $30.02 billion (Rs2,08,443.47 crore) which was 2.78 per cent higher in dollar terms and 8.71 per cent higher in rupee terms compared to $29.21 billion (Rs1,91,740.43 crore) in April 2018.
Non-oil and non-gold imports in April 2019 stood at $26.05 billion, showing a negative growth of 2.19 per cent against such imports worth $26.63 billion in April 2018.