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India's exports grow by 3.93% to $ 29.99 billion in May 2019

 
India's merchandise exports grew by 3.93 per cent to $ 29.99 billion in May 2019 from $ 28.86 billion in the same month of the previous year, an official press release said here today.
 
In rupee  terms, the exports went up by 7.36% to Rs. 2,09,280.62 crore in May 2019, as compared to Rs. 1,94,928.45crore in May 2018, it said.
 
Major commodity groups of export which showed high growth in May 219 over the corresponding month of the previous year were electronic goods (50.97%), organic and inorganic chemicals (20.64%), ready made garments of all textiles (14.15%), drugs and pharmaceuticals (10.98%) and engineering goods (4.40%).
 
The cumulative value of exports for the period April-May 2019-20 was $ 56.07billion (Rs. 3,90,301.96 crore) as against $ 54.77billion (Rs.3,64,981.41 crore) during the period April-May 2018-19, registering a positive growth of 2.37% in dollar terms (6.94% in rupee terms).
 
Non-petroleum and non-gems and jewellery exports in May 2019 were $ 21.42 billion, as compared to $ 19.94 billion in May 2018, exhibiting a positive growth of 7.42%. Non-petroleum and non-gems and jewellery exports in April-May 2019-20 were $ 40.96 billion, as compared to $ 39.74 billion for the corresponding period in 2018-19, an increase of 3.07%.
 
Imports in May 2019 were $ 45.35billion (Rs. 3,16,448.93 crore), which was 4.31% higher in dollar terms and 7.76% higher in rupee terms over imports of $43.48 billion (Rs. 2,93,660.48 crore) in May 2018. 
 
The cumulative value of imports for the period April-May 2019-20 was $ 86.75 billion (Rs. 6,03,881.86 crore), as against $ 83.11 billion (Rs. 5,53,745.15 crore) during the period April-May 2018-19, registering a growth of 4.39% in dollar terms (9.05% in rupee terms).
 
Major commodity groups of import which showed negative growth in May 2019 as compared to the corresponding month of last year were pearl, precious and semi-precious stones (-24.70%), fertilisers, crude & manufactured (-21.21$), vegetable oil (-11.94%), electronic goods (-3.17%) and transport equipment (-3.04%).
 
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Oil imports in May 2019 were $ 12.44 billion (Rs. 86,822.36 crore), which was 8.23% higher in dollar terms (11.81% higher in rupee terms), compared to $ 11.50 billion (Rs. 77,654.11 crore) in May 2018.
 
Oil imports in April-May 2019-20 were $ 23.82billion (Rs. 1,65,811.82 crore) which was 8.72% higher in dollar terms (13.57% higher in rupee terms) compared to $ 21.91 billion (Rs. 1,45,998.35 crore), over the same period last year.
 
The release noted that the global Brent price ($/bbl) had decreased by 7.98% in May 2019 vis-à-vis May 2018.
 
Non-oil imports in May 2019 were estimated at $ 32.91 billion (Rs. 2,29,626.57 crore) which was 2.90% in dollar terms (6.31% higher in rupee terms), compared to $ 31.98 billion (Rs. 2,16,006.37 crore) in May 2018. 
 
Non-oil imports in April-May 2019-20 were $ 62.93 billion (Rs. 4,38,070.04 crore) which was 2.84% higher in dollar terms (7.44% higher in rupee terms), compared to $ 61.19 billion (Rs. 4,07,746.80 crore) in April-May 2018-19.
 
Non-oil and non-gold imports were $ 28.13 billion in May 2019, recording a negative growth of 1.31%, as compared to non-oil and non-gold imports of $ 28.50 billion in May 2018. Non-oil and non-gold imports were $ 54.18 billion in April-May 2019-20, recording a negative growth of 1.73%, as compared to non-oil and non-gold imports of $  55.14 billion in April-May 2018-19.
 
The release said exports of services in April 2019, the latest month for which data is available from the Reserve Bank of India (RBI), were $ 18.06 billion (Rs. 125,399.77 crore), registering a growth of 2.84% in dollar terms, vis-à-vis April 2018.The estimated value of services export for May 2019 is $ 18.20 billion.
 
Imports of services in April 2019 were $ 11.40 billion (Rs. 79,161.12 crore), registering a growth of 4.46% in dollar terms, vis-à-vis April 2018. The estimated value of services import for May 2019 is $ 11.60 billion.
 
According to the release, as far as merchandise is concerned, the trade deficit for May 2019 was estimated at $ 15.36 billion as against the deficit of $ 14.62billion in May 2018.
 
The trade balance in services for April, 2019 is estimated at $ 6.66 billion.
 
Taking merchandise and services together, the overall trade deficit for April-May 2019-20 is estimated at $ 17.42billion as compared to $ 15.72 billion in April-May 2018-19, the release added.
 
NNN
 

(Our News Desk can be contacted at desk@netindian.in)

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