You are here: Home » News-CM » Economy » News
Business Standard

India's exports jump 25.7% in September 2017

Capital Market 

Trade deficit narrows to seven month low of US$ 8.98 billion in September 2017

India's merchandise exports jumped at six-month high pace of 25.7% to US$ 28.61 billion in September 2017 over a year ago. Meanwhile, merchandise imports increased 18.1% to US$ 37.60 billion. The trade deficit declined 1.0% to seven-month low of US$ 8.98 billion in September 2017 from US$ 9.07 billion in September 2016.

Oil imports moved up 18.5% to US$ 8.19 billion, while the non-oil imports also surged 18.0% to US$ 29.41 billion in September 2017 over September 2016. The share of oil imports in total imports was 21.8% in September 2017, compared with 21.7% in September 2016. India's basket of crude oil galloped 22.6% to US$ 54.52 per barrel in September 2017 over September 2016.

Among the non-oil imports, the major contributors to the overall rise in imports were electronic goods imports rising 40.9% to US$ 5.17 billion, pearls, precious & semi-precious stones 56.9% to US$ 3.13 billion, coal, coke & briquettes, etc. 48.0% to US$ 1.64 billion, machinery, electrical & non-electrical 16.4% to US$ 2.85 billion, iron & steel 35.0% to US$ 1.30 billion, non-ferrous metals 32.5% to US$ 1.11 billion and organic & inorganic chemicals 20.3% to US$ 1.55 billion. The imports also improved for artificial resins, plastic materials etc by 21.9% to US$ 1.24 billion, metaliferrous ores & other minerals 41.4% to US$ 0.72 billion, silver 128.3% to US$ 0.32 billion, wood & wood products 34.0% to US$ 0.57 billion and vegetable oil 11.6% to US$ 1.16 billion.

Further, the imports have moved up for chemical material & products 26.4% to US$ 0.54 billion, and professional instrument, optical goods etc 18.8% to US$ 0.38 billion, while it declined for transport equipment 27.6% to US$ 1.31 billion, cotton raw & waste 43.7% to US$ 0.14 billion and gold 5.0% to US$ 1.71 billion in September 2017.

On exports front, the engineering goods recorded an increase in exports by 44.2% to US$ 7.33 billion, followed by petroleum products 39.7% to US$ 3.60 billion, organic & inorganic chemicals 46.1% to US$ 1.68 billion, readymade garment of all textiles 29.4% to US$ 1.66 billion, gems & jewellery 7.1% to US$ 4.78 billion, and drugs & pharmaceuticals 14.7% to US$ 1.60 billion. The exports also moved up for marine products by 32.7% to US$ 0.79 billion, rice 45.7% to US$ 0.58 billion and cotton yarn/fabrics/made-ups, handloom products etc 15.2% to US$ 0.92 billion in September 2017. Further, the exports gained for man-made yarn/fabrics/made-ups etc by 24.8% to US$ 0.47 billion, plastic & linoleum 17.1% to US$ 0.57 billion, electronic goods 14.3% to US$ 0.57 billion and leather & leather products 17.1% to US$ 0.48 billion in September 2017.

Merchandise exports in rupees improved 21.3% to Rs 184387 crore, while imports moved up 14.0% to Rs 242283 crore in September 2017 over September 2016. The trade deficit narrowed to Rs 57896 crore in September 2017 compared with Rs 60536 crore in September 2016.

India's merchandise exports increased 12.0% to US$ 147.19 billion, while merchandise imports surged 25.2% to US$ 219.32 billion in April-September 2017. An increase in imports was driven by a 19.3% jump in oil imports to US$ 46.97 billion. India's merchandise trade deficit galloped to US$ 72.13 billion in April-September 2017 from US$ 43.77 billion in April-September 2016.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, October 13 2017. 18:45 IST