ADVERTISEMENT

India's exports grow by 19.77% to $ 24.635 billion in April, 2017

ADVERTISEMENT
Maintaining an uptrend for the eighth consecutive month, India's merchandise exports grew by 19.77 percent to $ 24.635 billion in April, 2017 from $ 20.569 billion in the same month of the previous year.
 
In rupee terms, the exports went up by 16.23% to Rs. 158913.79 crore as compared to Rs. 136720.11 crore during April,2016, an official statement said.
 
Non-petroleum and non-gems and jewellery exports in April 2017 were valued at $ 17.719 billion against $ 15.136 billion in April 2016, an increase of 17.06 %, it said.
 
"The growth in exports is positive for all major economies, USA (4.74%), EU (0.16%), Japan (13.30%) except for China (-1.56%) for February 2017 over the corresponding period of previous year, as per latest WTO statistics," the statement said.
 
According to it, imports during April 2017 were valued at $ 37.884 billion (Rs. 244380.52 crore) which was 49.07% higher in dollar terms and 44.67% higher in rupee terms over the level of imports valued at $ 25.414 billion (Rs. 168923.71 crore) in April, 2016.
 
Oil imports during April, 2017 were valued at $ 7.359 billion which was 30.12% higher than oil imports valued at $ 5.656 billion in April, 2016.
 
The statement mentioned that the global Brent prices ($/bbl) have increased by 25.40% in April, 2017 vis-à-vis April, 2016 as per World Bank commodity price data.
 
Non-oil imports during April, 2017 were estimated at $ 30.525 billion which was 54.50% higher than non-oil imports of $ 19.758 billion in April, 2016.
 
ADVERTISEMENT
Exports of services during March, 2017 were valued at $ 14.179 billion (Rs. 93406.57 crore) registering a growth of 8.57% in dollar terms as compared to a decline of 3.76% during February, 2017.
 
Imports of services during March, 2017 were valued at $ 8.267 billion (Rs. 54460.27 crore) registering a growth of 14.26% in dollar terms as compared to a fall of 13.96% during February, 2017, as per the latest data from the Reserve Bank of India (RBI).
 
The trade deficit in merchandise for April, 2017 was estimated at $ 13.249 billion, which was 173.47% higher than the deficit of $ 4.845 billion during April, 2016, the statement said.
 
In services, the trade balance for March, 2017 was estimated at $ 5.912 billion. The net export of services for April- March, 2016-17 was estimated at $ 65.214 billion which is lower than net export of services of $ 69.419 billion during April- March, 2015-16.
 
"Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- March 2016-17 is estimated at $ 40.980 billion which is 16.87% lower in dollar terms than the level of $ 49.297 billion during April-March 2015-16," the statement added.
 
NNN
 
ADVERTISEMENT
 
 

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <canvas>
  • Lines and paragraphs break automatically.

More information about formatting options

© Copyright 2012 NetIndian. All rights reserved. Republication or redistribution of NetIndian content, including by framing or similar means, is expressly prohibited without the prior written consent of NetIndian Media Corporation. Write to info[AT]netindian[DOT]in for permission to use content. Read detailed Terms of Use.