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India's exports grow by 4.39% to $ 23.562 billion in June 2017

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Continuing an uptrend for the tenth consecutive month, India's merchandise exports grew by 4.39 percent to$ 23.562 billion in June 2017 from $ 22.572 billion in the same month of the previous year, an official statement said here today.
 
In rupee terms, however, the exports fell by 0.04% to Rs. 151844.56 crore in June this year as compared to Rs. 151904.56 crore during June,2016,
 
During June 2017, major commodity groups of export which showed growth over the corresponding month of last year were Engineering Goods (14.78%), Petroleum Products (3.60%), Organic & Inorganic Chemicals (13.20%), Rice (27.29%) and Marine Products (24.27%).
 
The cumulative value of exports for the period April-June 2017-18 was  $72.212 billion (Rs 465472.04 crore) as against $65.312 billion (Rs 436960.98 crore)m registering a growth of 10.57% in dollar terms and 6.52% in rupee terms over the same period last year, the statement said.
 
According to it, non-petroleum and non-gems & jewellery exports in June 2017 were valued at $ 17.480 billion against $ 16.488 billion in June 2016, an increase of 6.02 %. Non-petroleum and non-gems and jewellery exports during April -June 2017-18 were valued at $ 52.714 billion as compared to $ 48.029 billion for the corresponding period in 2016-17, an increase of 9.75%.
 
The statement said imports during June 2017 were valued at $ 36.522 billion (Rs. 235361.85 crore) which was 19.01% higher in dollar terms and 13.96% higher in rupee terms over the level of imports valued at $ 30.688 billion (Rs. 206524.39 crore) in June 2016. 
 
The cumulative value of imports for the period April-June 2017-18 was $ 112.263 billion (Rs. 723631.11crore) as against $ 84.546 billion (Rs. 565754.29 crore), registering a growth of 32.78% in dollar terms and 27.91% in rupee terms over the same period last year.
 
Major commodity group of imports showing high growth in June 2017 over the corresponding month of last year are Petroleum, crude & products (12.04%), Electronic goods (24.22%), Pearls, precious & semi-precious stones (86.31%) , Machinery, electrical & non-electrical (7.02%) and Gold (102.99%).
 
Oil imports during June 2017 were valued at $ 8.125 billion which was 12.04% higher than oil imports valued at $ 7.252 billion in June 2016. Oil imports during April-June 2017-18 were valued at $ 23.177 billion which was 22.98% per cent higher than the oil imports of $ 18.846 billion in the corresponding period last year.
 
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The global Brent prices ($/bbl) have decreased by 3.28% in June 2017 vis-à-vis June 2016 as per World Bank commodity price data, the statement pointed out.
 
Non-oil imports during June 2017 were estimated at $ 28.397 billion which was 21.17% higher than non-oil imports of $ 23.436 billion in June 2016. Non-oil imports during April-June 2017-18 were valued at $ 89.085 billion which was 35.60% higher than the level of such imports valued at $ 65.699 billion in April-June 2016-17.
 
As far as services were concerned, exports during May 2017, the latest month for which Reserve Bank of India (RBI) data was available, were valued at $ 13.430 billion (Rs. 86522.51 crore), registering a growth of 4.08% in dollar terms as compared to negative growth of 8.99% during April 2017.
 
Imports of services during May 2017 were valued at $ 7.615 million (Rs. 49059.49 crore), registering a postive growth of 5.44% in dollar terms as compared to negative growth of  -12.64% during April 2017, the statement said.
 
The trade deficit in the case of merchandise was estimated at $ 12.960 billion in June 2017 as against the deficit of $ 8.116 billion during June 2016.
 
The trade balance in the case of services for May 2017 was estimated at $ 5.815 billion.
 
Taking merchandise and services together, the overall trade deficit for April-June 2017-18 is estimated at $ 28.6 billion as compared to $ 8.0 billion during April-June 2016-17, the statement added.
 
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