Exports dip 24.3% in September 2015

Trade deficit narrows to US$ 10.5 billion in September 2015

India's merchandise exports continued to decline for tenth straight month at 24.3% to US$ 21.85 billion in September 2015 over a year ago. Meanwhile, merchandise imports also dipped 25.4% to US$ 32.32 billion. The trade deficit narrowed 27.6% to US$ 10.5 billion in September 2015 from US$ 14.47 billion in September 2014.

Oil imports plunged 54.5% to US$ 6.63 billion, while non-oil imports also declined 10.7% to US$ 25.7 billion in September 2015 over September 2014. The share of oil imports in total imports was 20.8% in September 2015, which is lowest in last 11-years. India's basket of crude oil plunged 52.5% to US$ 46.1 per barrel in September 2015 over September 2014.

Merchandise exports in rupees declined 17.7% to Rs 144653 crore, while imports fell 18.9% to Rs 214040 crore in September 2015 over September 2014. The trade deficit narrowed to Rs 69388 crore in September 2015 compared with Rs 88096 crore in September 2014.

India's merchandise exports dipped 17.6% to US$ 132.94 billion, while merchandise imports fell 14.2% to US$ 200.93 billion in April-September 2015. The decline in imports was driven by a 41.6% plunge in oil imports to US$ 48.13 billion. India's merchandise trade deficit declined to US$ 67.99 billion in April-September 2015 from US$ 72.69 billion in April-September 2014.

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