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India's exports decline 0.7% in March 2018

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Exports rises 10% in FY2018 up from 5.1% in FY2017

India's merchandise exports fell 0.7% to US$ 29.11 billion in March 2018 over a year ago. Meanwhile, merchandise imports moved up 7.1% to US$ 42.80 billion. The trade deficit jumped 28.6% to US$ 13.69 billion in March 2018 from US$ 10.65 billion in March 2017.

galloped 13.9% to US$ 11.11 billion, while the non-also increased 5.0% to US$ 31.69 billion in March 2018 over March 2017. The share of in total imports was 26.0% in March 2018, compared with 24.4% in March 2017. The price of India's basket of galloped 23.9% to US$ 63.80 per barrel in March 2018 over March 2017.

Among the non-oil imports, the major contributors to the overall rise in imports were electrical & rising 33.4% to US$ 3.41 billion, coal, coke & briquettes 44.7% to US$ 2.47 billion, 32.7% to US$ 1.82 billion, organic & 28.0% to US$ 2.04 billion, metaliferrous ores & other minerals 84.5% to US$ 0.85 billion, non-ferrous metals 43.2% to US$ 1.25 billion, iron & 38.4% to US$ 1.35 billion and artificial resins, plastic materials etc 28.7% to US$ 1.38 billion.

The imports also improved for products by 40.6% to US$ 0.55 billion, fertilisers, crude & manufactured 89.8% to US$ 0.32 billion, electronic goods 2.5% to US$ 4.96 billion, & products 24.7% to US$ 0.62 billion, professional instrument, optical goods etc 16.3% to US$ 0.47 billion, medicinal & 8.8% to US$ 0.49 billion and pearls, precious & semi-precious stones 0.8% to US$ 3.03 billion. However, the imports have declined for gold by 40.3% to US$ 2.49 billion and 20.6% to US$ 0.84 billion in March 2018.

On exports front, the organic & recorded an increase in exports by 31.8% to US$ 1.97 billion, followed by engineering goods 2.6% to US$ 8.11 billion, plastic & linoleum 26.9% to US$ 0.73 billion, drugs & 8.4% to US$ 1.76 billion, rice 20.9% to US$ 0.77 billion, and cotton yarn/fabrics/made-ups, etc 14.3% to US$ 1.02 billion. The exports also moved up for electronic goods by 15.1% to US$ 0.70 billion, 11.7% to US$ 0.57 billion and man-made yarn/fabrics/made-ups etc 6.8% to US$ 0.47 billion in March 2018.

Further, the exports has improved for & glassware by 13.9% to US$ 0.20 billion, leather & 3.9% to US$ 0.44 billion, spices 4.5% to US$ 0.35 billion, handicrafts excluding handmade carpet 7.8% to US$ 0.19 billion and fruits & vegetables 4.1% to US$ 0.30 billion in March 2018.

However, the exports declined for gems & jewellery by 16.6% to US$ 3.43 billion, 13.2% to US$ 3.26 billion, and ready mix garment of all textiles 17.8% to US$ 1.49 billion, while it also declined for coal & other ores, minerals including processed minerals by 10.9% to US$ 0.39 billion, and meat, dairy & 4.3% to US$ 0.41 billion in march 2018.

Merchandise exports in rupees declined 1.9% to Rs 189271 crore, while imports moved up 5.8% to Rs 278297 crore in March 2018 over March 2017. The trade deficit rose to Rs 89026 crore in March 2018 compared with Rs 70127 crore in March 2017.

India's merchandise exports increased 10.0% to US$ 302.84 billion, while merchandise imports surged 19.7% to US$ 459.67 billion in April-March 2018. An increase in imports was driven by a 25.7% jump in to US$ 109.11 billion. India's merchandise trade deficit galloped to US$ 156.83 billion in April-March 2018 from US$ 108.92 billion in April-March 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 14 2018. 13:19 IST
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