ADVERTISEMENT

India's exports decline by 1.12% to $ 23.098 billion in October 2017

ADVERTISEMENT
Reversing a 13-month uptrend, India's merchandise exports declined by 1.12 percent to $ 23.098 billion in October 2017 from $ 23.360 billion during the same month of the previous year, an official statement said here today, an official statement said here today.
 
In rupee terms, exports declined by 3.59% to Rs. 150325.95 crore in October 2017 as compared to Rs. 155926.73 crore during October 2016, it said.
 
The statement said that, during April-October 2017-18, the cumulative value of exports was $ 170.286 billion (Rs. 1097858.68 crore) as against $ 155.344 billion (Rs. 1039297.59 crore) in the corresponding period of the previous year, registering a positive growth of 9.62% in dollar terms and 5.63% in rupee terms.
 
According to it, the major commodity groups of exports which showed growth in October this year over the corresponding month of last year were Engineering Goods (11.77%), Petroleum Products (14.74%), Organic & Inorganic Chemicals (22.29%), Cotton Yarn/Fabs./made-ups, Handloom Products etc. (4.83%),Marine Products (8.52%) and Plastic & Linoleum (24.46%).
 
Non-petroleum and non-gems & jewellery exports in October 2017 were valued at $ 16.604 billion as against $ 16.202 billion in October 2016, an increase of 2.48%. Non-petroleum and non-gems and jewellery exports during April -October 2017-18 were valued at $ 124.281 bllion as compared to $ 111.556 billion for the corresponding period in 2016-17, an increase of 11.41%.
 
Imports during October 2017 were valued at $ 37.117 billion (Rs. 241562.31 crore) which was 7.60% higher in dollar terms and 4.91%  higher in rupee terms over the level of imports valued at $ 34.495 billion (Rs. 230246.81 crore) in October 2016. 
 
The cumulative value of imports for the period April-October 2017-18 was $ 256.434 billion (Rs. 1653435.01 crore) as against $ 209.835 billion (Rs. 1403911.51 crore) registering a growth of 22.21% in dollar terms and 17.77% in rupee terms over the same period last year.
 
Major commodity groups of import which showed high growth in October 2017 over the corresponding month of last year were Petroleum, Crude & products (27.89%), Electronic goods (7.04%), Machinery, electrical & non-electrical (17.43%), Coal, Coke & Briquettes, etc. (66.28%) and Organic & Inorganic Chemicals (30.49%).
 
Oil imports during October 2017 were valued at $ 9.287 billion which was 27.89% higher than oil imports valued at $ 7.261 billion in October 2016. Oil imports during April-October, 2017-18 were valued at $ 56.252 billion which was 20.23% higher than the oil imports of $ 46.788 billion in the corresponding period last year.
 
The statement mentioned that global Brent prices ($/bbl) have increased by 15.87% in October 2017 vis-à-vis October 2016 as per World Bank commodity price data.
 
ADVERTISEMENT
Non-oil imports during October, 2017 were estimated at $ 27.830 billion, which was 2.19% higher than non-oil imports of $ 27.235 billion in October 2016. Non-oil imports during April-October 2017-18 were valued at $ 200.182 billion which was 22.78% higher than the level of such imports valued at $ 163.046 billion in April-October 2016-17.
 
As regards services, exports during September 2017, the latest month for which RBI data is available, were valued at $ 13.732 billion (Rs. 88490.24 crore), registering a growth of 0.23% in dollar terms as compared to 3.97% during August 2017.
 
Imports of services during September 2017 were valued at $ 8.450 billion (Rs. 54452.56 crore), registering a negative growth of 2.40% in dollar terms as compared to positive growth of 18.05% during August 2017.
 
As far as merchandise is concerned, the trade deficit for October 2017 was estimated at $ 14.019 billion as against the deficit of $ 11.134 billion during October 2016.
 
As regards services, the trade balance for September 2017 was estimated at $ 5.282 billion.
 
Taking merchandise and services together, the overall trade deficit for April-October 2017-18 is estimated at $ 52.550 billion as compared to $ 22.132 billion during April-October 2016-17, 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.