Page 5 - India Trade Deficit

Have India's exports hit a rough patch?

The effect of global slowdown has reached the Indian shores. Its merchandise exports contracted 3.5% in Sept due to a fall in demand. So have Indian exports hit a rough patch?

India's weakening exports prompt slow trade deficit moderation: Barclays

India's large trade deficit is beginning to consolidate, but the weaker exports are prompting a more gradual adjustment than expected, Barclays Bank said in a note on Tuesday

India's exports dip by 3.52% to $32.62 bn in September: Govt data

India's exports contracted by 3.52 per cent to USD 32.62 billion in September against USD 33.81 billion in the same month last year, while the trade deficit widened to USD 26.72 billion, according to the preliminary data released by the commerce ministry on Monday. Imports during the month, however, grew by 5.44 per cent to USD 59.35 billion as against USD 56.29 billion in September 2021, the data showed. The exports during April-September 2022-23 rose by 15.54 per cent to USD 229.05 billion. Imports during the period increased by 37.89 per cent to USD 378.53 billion. The trade deficit during the first six months of the fiscal has widened to USD 149.47 billion as against USD 76.25 billion during April-September 2021-22.

Policy balance

Higher trade and fiscal deficits can create risks

Exports fall 1% in August to $33 billion; trade deficit remains elevated

"Conservative" merchandise export target set at $450 billion in FY23, says commerce secretary. Department's internal target remains $470 billion

Exports remain flat at $33 bn in August; trade deficit widens to $28.68 bn

India's exports contracted by 1.15 per cent to USD 33 billion and trade deficit more than doubled to 28.68 billion in August, a preliminary data released by the commerce ministry said on Saturday. Trade deficit in August 2021 stood at 11.71 billion. Imports rose by 37 per cent to USD 61.68 billion in August this year. Commerce secretary B V R Subrahmanyam, however, said that the country's overall exports are expected to cross USD 450 billion during the current fiscal. "In goods exports, we will be crossing USD 450 billion this fiscal," Subrahmanyam said. During April-August 2022-23, exports registered a growth of 17.12 per cent to USD 192.59 billion. Imports during the five-month period of this fiscal grew by 45.64 per cent to USD 317.81 billion. Trade deficit widened to 125.22 billion in April-August this fiscal as against USD 53.78 billion in the same period last year. Oil imports in August jumped by 86.44 per cent to USD 17.6 billion. However, gold imports dipped by 47.54 per

India's worst period of macro instability possibly over: Morgan Stanley

India's worst period of macro instability is possibly over, and both consumer inflation and trade deficit are expected to moderate albeit gradually, Morgan Stanley said

Govt bonds, rupee strengthen as crude prices plunge on growth concerns

A decline in domestic headline retail inflation to a five-month low in July also bolstered the appetite for bonds

Exports up 2.14% to $36.27 bn in July; trade deficit at record $30 bn

Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the data showed.

India's trade deficit likely to remain above $20 billion: Barclays

India's trade deficit is likely to remain above $20 billion for an extended period, posing the risk of a wider current account deficit, Barclays said

Rupee at 80: Little relief on the cards from high trade deficit

Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee

The emerging stress in imports: Surprisingly, it's coal more than oil

Surprisingly, its coal more than oil that is emerging as a huge pressure point

Revenue deficit grant of Rs 7,183 cr released to 14 states: FinMin

Finance ministry on Wednesday released the fourth instalment of revenue deficit grant of Rs 7,183 crore to 14 states for the current fiscal. The states for which Post Devolution Revenue Deficit Grant has been recommended by the 15th Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal. "The Department of Expenditure has on Wednesday released the 4th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states," the ministry said in a statement. The 15th Finance Commission has recommended a total PDRD Grant of Rs 86,201 crore to 14 states for the financial year 2022-23. The grant is released in 12 equated monthly instalments. The ministry said that with the release of the fourth instalment for the month of July 2022, the total amount of PDRD grants released to the states in 2022-23 stands at Rs 28,733.67 ...

Coal is the new pain point as India grapples with a massive import bill

Quite low in the pecking order of inbound consignments at one point, the fossil fuel today accounts for a third of the value of crude entering the country

Rupee touches a new low of 79.14 against US dollar amid CAD concerns

Rupee weakened further in afternoon trade on Tuesday to touch a fresh record low against the US dollar as concerns of a wider current account deficit came to the forefront

Trade gap widens to record $25.6 bn; imports surge to $63.58 bn in June

India's traditional high dependence on crude oil led to its imports soaring 94.2 per cent in June to $20.7 billion

India's record $25.6-bn trade deficit in June adds pressure on rupee

Rupee has plunged 6% against the dollar this year, weighed down by broad strength in the greenback and as investors retreated from domestic share markets

Exports rise by 17% to $37.94 bn in June; trade deficit widens to $25.63 bn

Cumulative exports in April-June 2022-23 rose by about 22% to $116.77 bn

India's trade deficit hits record high of $24.3 bn in May: Govt data

Preliminary estimates released earlier in the month had put the trade deficit at $23.3 billion

Exports rise 20.55% to $38.94 bn in May; trade deficit at record $24.29 bn

India's merchandise exports in May rose by 20.55 per cent to $38.94 billion, while the trade deficit ballooned to a record $24.29 billion, according to the government data released