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

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.
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.


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