India’s exports rises 5.2% in April 2018

21 May 2018

Trade deficit widens to US$ 13.72 billion in April 2018

India’s merchandise exports increased 5.2% to US$ 25.91 billion in April 2018 over a year ago. Meanwhile, merchandise imports moved up 4.6% to US$ 39.63 billion. The trade deficit rose 3.5% to US$ 13.72 billion in April 2018 from US$ 13.25 billion in April 2017.

Oil imports galloped 41.5% to US$ 10.41 billion, while the non-oil imports also declined 4.3% to US$ 29.21 billion in April 2018 over April 2017. The share of oil imports in total imports was 26.3% in April 2018, compared with 19.4% in April 2017. The price of India’s basket of crude oil galloped 32.0% to US$ 69.30 per barrel in April 2018 over April 2017.

Among the non-oil imports, the major contributors to the overall rise in imports were transport equipment imports rising 33.2% to US$ 1.58 billion, coal 20.4% to US$ 2.25 billion, metaliferrous ores & other minerals 57.7% to US$ 0.94 billion, organic & inorganic chemicals 18.4% to US$ 2.00 billion, iron & steel 28.5% to US$ 1.30 billion, machinery, electrical & non-electrical 9.1% to US$ 2.90 billion, non-ferrous metals 15.5% to US$ 1.15 billion and silver 36.5% to US$ 0.48 billion.

The imports also improved for fertilizers, crude & manufactured by 33.4% to US$ 0.41 billion, chemical material & products 18.1% to US$ 0.58 billion, medicinal & pharmaceutical products 17.7% to US$ 0.49 billion and wood & wood products 6.6% to US$ 0.50 billion.

However, the imports have declined for pearls, precious & semi-precious stones by 36.4% to US$ 2.34 billion, gold 33.1% to US$ 2.58 billion, electronic goods 6.4% to US$ 4.15 billion. Vegetable oil 10.0% to US$ 0.92 billion and artificial resins, plastic materials 2.1% to US$ 1.26 billion in April 2018.

On exports front, the engineering goods recorded an increase in exports by 17.6% to US$ 7.19 billion, followed by organic & inorganic chemicals 38.5% to US$ 1.79 billion, drugs & pharmaceuticals 13.6% to US$ 1.47 billion, plastic & linoleum 30.0% to US$ 0.67 billion, and cotton yarn/fabrics/made-ups, handloom products 15.7% to US$ 0.90 billion. The exports also moved up for rice by 13.4% to US$ 0.64 billion, electronic goods 9.6% to US$ 0.56 billion, meat, dairy & poultry products 15.1% to US$ 0.34 billion and marine products 3.7% to US$ 0.50 billion in April 2018.

Further, the exports has improved for ceramic products & glassware by 8.5% to US$ 0.18 billion, coal & other ores, minerals including processed minerals 3.7% to US$ 0.34 billion, man-made yarn/fabrics/made-ups 2.6% to US$ 0.42 billion and spices 2.0% to US$ 0.28 billion in April 2018.

However, the exports declined for gems & jewellery by 17.0% to US$ 3.30 billion, RMG of all textiles 22.8% to US$ 1.35 billion, petroleum products 4.5% to US$ 2.81 billion, and leather & leather products 3.2% to US$ 0.39 billion, while it also declined for handicrafts excluding handmade carpet by 7.0% to US$ 0.14 billion, and fruits & vegetables 3.1% to US$ 0.21 billion in April 2018.

Merchandise exports in rupees increased 7.0% to Rs 170053 crore, while imports moved up 6.4% to Rs 260085 crore in April 2018 over April 2017. The trade deficit rose to Rs 90032 crore in April 2018 compared with Rs 85467 crore in April 2017.

Source: CAPITAL MARKET