Export growth eases below 10 per cent; Import growth also decelerate

India's merchandise exports growth slowed in the month of July, after growing more than 10per cent for two months in a row till June. Exports during July, 2014 were valued at US $ 27727.60 million (Rs.166528.07 crore) which was 7.33 per cent higher in Dollar terms (7.83 per cent higher in Rupee terms) than the level of US $ 25835.08 million (Rs. 154430.24 crore) during July, 2013. Cumulative value of exports for the period April-July 2014-15 was US $ 107839.90 million (Rs 645456.97 crore) as against US $ 99280.97 million (Rs 565031.46 crore) registering a growth of 8.62 per cent in Dollar terms and growth of 14.23 per cent in Rupee terms over the same period last year.

Imports during July, 2014 were valued at US $ 39956.23 million (Rs.239971.50 crore) representing a growth of 4.25 per cent in Dollar terms, slower than June's 8.3 per cent increase and growth of 4.75 per cent in Rupee terms over the level of imports valued at US $ 38326.45 million (Rs. 229097.87 crore) in July, 2013. Cumulative value of imports for the period April-July 2014-15 was US $ 153152.46 million (Rs 916666.03 crore) as against US $ 159195.06 million (Rs 903320.98 crore) registering a negative growth of 3.80 per cent in Dollar terms and growth of 1.48 per cent in Rupee terms over the same period last year.

 

Oil imports during July, 2014 were valued at US $ 14354.8 million which was 12.75 per cent higher than oil imports valued at US $ 12731.7 million in the corresponding period last year. Oil imports during April-July, 2014-15 were valued at US $ 55140.3 million which was 6.65 per cent higher than the oil imports of US $ 51700.1 million in the corresponding period last year.

Non-oil imports during July, 2014 were estimated at US $ 25601.4 million which was 0.03 per cent higher than non-oil imports of US $ 25594.8 million in July, 2013. Non-oil imports during April-July, 2014-15 were valued at US $ 98012.2 million which was 8.82 per cent lower than the level of such imports valued at US $ 107495.0 million in April-July, 2013-14.

The trade deficit for April-July, 2014-15 was estimated at US $ 45312.56 million which was lower than the deficit of US $ 59914.09 million during April-July, 2013-14.

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