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Exports rise 5.17% to USD 25.9bn in Apr; trade deficit up at USD 13.7 bn

Press Trust of India  |  New Delhi 

India's exports rose by 5.17 per cent year-on-year to USD 25.9 billion in April on back of good show by sectors like engineering, pharmaceutical and chemicals, according to the data.

Imports during the month were valued at USD 39.6 billion, up 4.6 per cent over April 2017.

The gap between imports and exports or trade deficit was marginally higher at USD 13.7 billion during April 2018 compared to USD 13.24 billion in April 2017, the data showed.

Merchandise exports were in negative zone in March 2018.

Major commodity groups showing positive export growth in April on annual basis include engineering goods (17.63 per cent), (38.48 per cent), (13.56 per cent), yarn and (15.66 per cent) and plastic and linoleum (30.03 per cent).

Non-petroleum and non-gems and jewellery exports in April 2018 were valued at USD 19.8 billion as against USD 17.7 billion in April 2017, showing an increase of 11.73 per cent, according to the data released by the

were valued at USD 10.4 billion, up 41.45 per cent over April 2017.

"In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 35.20 per cent in April 2018 vis--vis April 2017 as per commodity price data," the ministry said.

Non-during April 2018 were estimated at USD 29.21 billion, which was 4.3 per cent lower than non-of USD 30.5 billion in April 2017.

Gold imports dipped by 33 per cent to USD 2.58 billion in April.

On trade in services, based on RBI data which comes with a lag of a month, the ministry said the outward shipments during March 2018 were valued at USD 16.8 billion registering a positive growth of 7.16 per cent.

The services imports were estimated at USD 10.2 billion , up 1.35 per cent over March 2017.

recorded a trade surplus in services sector at USD 6.5 billion.

Exports had dipped by 0.66 per cent to USD 29.11 billion in March, even as foreign shipments increased by 9.78 per cent for the full 2017-18 fiscal.

Commenting on the data, of exports' body FIEO Ganesh Kumar Gupta said that the exports data is not encouraging.

"Almost all the labour-intensive sectors of export including gems and jewellery, leather and leather products, RMG of all textiles, including floor covering, carpets, handicrafts, agri products and many other sector of exports, dominated by MSMEs are in negative territory," he said.

Gupta said that domestic issues including access to credit, cost of credit especially for MSMEs and pending GST refund affecting exports should be seriously looked into as global challenges and increasing protectionism, has also added to the woes of the exporters.

with said the merchandise trade deficit increased modestly with a contraction in imports of gold and precious and semi precious stones, and electronic goods, allaying the impact of

Nevertheless, the continued rise in the in the ongoing month does not augur well for the upcoming print of the merchandise trade deficit, she said.

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

First Published: Tue, May 15 2018. 19:45 IST
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