India’s April-July trade deficit rises to $59.67 billion
14 Aug 2019
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India added $13.34 billion to its merchandise trade deficit in July 2019 taking overall deficit to $59.67 billion for the first four months of the current financial year (April-July 2019-20). July merchandise trade deficit, however, was lower in absolute terms compared to a deficit of $18.63 billion in July 2018.
Merchandise exports from India stood at $26.33 billion (Rs1,81,190.34 crore) in July 2019, compared with $25.75 billion (Rs1,76,914.60 crore) in July 2018, showing a growth of 2.25 per cent in dollar terms and a growth of 2.24 per cent in rupee terms.
Cumulative value of exports for the April-July 2019-20 period stood at $107.41 billion (Rs7,45,174.85 crore) against $107.81 billion (Rs7,26,842.89 crore) during April-July 2018-19, showing a negative growth of 0.37 per cent in dollar terms and a growth of 2.52 per cent in rupee terms.
Export of goods other than petroleum and gems and jewellery in July 2019 stood at $19.70 billion, against exports of $18.72 billion in July 2018, showing a growth of 5.28 per cent. Cumulative exports in April-July 2019-20 stood at $79.81 billion, compared with $78.41 billion during the corresponding period in 2018-19, an increase of 1.79 per cent.
India’s imports in July 2019 were valued at $39.76 billion (Rs2,73,579.71 crore), which was 10.43 per cent lower in dollar terms and 10.28 per cent lower in rupee terms over imports of $44.39 billion (Rs3,04,916.76 crore) in July 2018. Cumulative value of imports for the period April-July 2019-20 was $166.80 billion (Rs11,57,232.64 crore), against $173.08 billion (Rs11,67,617.41 crore) during April-July 2018-19, showing a negative growth of 3.63 per cent in dollar terms and a negative growth of 0.89 per cent in rupee terms.
Oil imports in July 2019 were valued at $9.60 billion (Rs66,056.77 crore), which was 22.15 per cent lower in dollar terms and 22.02 per cent lower in rupee terms, compared with imports worth $12.33 billion (Rs84,707.59 crore) in July 2018. Oil imports in April-July 2019-20 stood at $44.45 billion (Rs3,08,455.32 crore), which was 5.69 per cent lower in dollar terms and 3.03 per cent lower in rupee terms compared with imports of $47.13 billion (Rs3,18,091.98 crore) during the same period last year.
Non-oil imports in July 2019 were estimated at $30.16 billion (Rs2,07,522.94 crore), which was 5.92 per cent lower in dollar terms and 5.76 per cent lower in rupee terms compared to such imports worth $32.06 billion (Rs2,20,209.17 crore) in July 2018. Non-oil imports in April-July 2019-20 stood at $122.35 billion (Rs8,48,777.32 crore), which was 2.85 per cent lower in dollar terms and 0.09 per cent lower in rupee terms compared to such imports worth $125.95 billion (Rs8,49,525.43 crore) in April-July 2018-19.
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