HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
India’s exports increase 2.25% in July; trade deficit narrows to $13.43 billion
Aug-16-2019

India’s merchandise exports grew by 2.25 percent in July 2019 to $26.33 billion as compared to same period of last year, on the back of higher shipments of organic goods, drugs and pharmaceuticals. Trade deficit, gap between imports and exports, narrowed to $13.43 billion in July from $18.63 billion a year ago, helped by lower oil import bill.  

As per the data released by the Commerce Ministry, merchandise exports increased by 2.25% to $26.33 billion in July 2019, as compared to $25.75 billion in the same month a year ago. In Rupee terms, it was up by 2.42% to Rs 1,81,190.34 crore in July 2019, as compared to Rs 1,76,914.60 crore in July 2018.  Cumulative value of exports for the period April- July 2019-20 was $107.41 billion as against $107.81 billion during the period April- July 2018-19, registering a negative growth of 0.37%. In Rupee terms, it was up by 2.52% to Rs 7,45,174.85 crore from Rs 7,26,842.89 crore.

Non-petroleum and Non Gems and Jewellery exports in July 2019 were $19.70 billion, as compared to $ 18.72 billion in July 2018, exhibiting a positive growth of 5.28%. Non-petroleum and Non Gems and Jewellery exports in April- July 2019-20 were $79.81 billion, as compared to $78.41 billion for the corresponding period in 2018-19, an increase of 1.79%. 

On the other hand, Imports during July 2019, decreased by 10.43% to $39.76 billion as compared to $44.39 billion in July 2018, and in rupee terms it was down by 10.28% to Rs 2,73,579.71 crore from Rs 3,04,916.76 crore in July 2018.  Cumulative value of imports for the period April- July 2019-20 was $166.80 billion, as against $173.08 billion during the period April- July 2018-19, registering a negative growth of 3.63%. In rupee terms, it was Rs 11,57,232.64 crore, up by 3.46% from Rs 11,67,617.41 crore in the same period last year.    

Oil imports in July 2019 were $9.60 billion, which was 22.15% lower, compared to $12.33 billion in July 2018. Oil imports in April- July 2019-20 were $44.45 billion which was 5.69% lower compared to $47.13 billion, over the same period last year. Non-oil imports during July 2019 were estimated at $30.16 billion which was 5.92% lower than non-oil imports of $32.06 billion in July 2018. Non-Oil and Non-Gold imports were $28.4 billion in July 2019, down 2.22% over the same period of last year. Non-Oil and Non-Gold imports were $109.19 billion in April- July 2019-20, down 4.67%, over the same period of last year.    

  RELATED NEWS >>
Most Viewed >>
April 06 , 2024
RBI to allow UPI payments from PPI wallets via
April 06 , 2024
World markets today: US stocks surge on robust
April 04 , 2024
High valuations could tame the bull this fisca
April 06 , 2024
Cardless cash deposits via UPI apps: Everythin
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.