Social News XYZ     

India’s December merchandise exports up marginally, trade deficit lower

India's December merchandise exports up marginally, trade deficit lowerNew Delhi, Jan 15 (IANS) A marginal rise in India's merchandise exports, combined with lower imports, resulted in a lower trade deficit for the country in December 2018 as compared to the same month of 2017, an official data showed on Tuesday.

According to a data released by the Commerce Ministry, last December's exports increased by 0.34 per cent to $27.93 billion from the $27.83 billion reported for the corresponding month of 2017.

The trade deficit for December 2018 was estimated at $13.08 billion, as against the deficit of $14.20 billion in December 2017.

 

The cumulative value of exports for the April-December 2018 period was $245.44 billion, as against $222.77 billion during the period April-November of 2017 registering a growth of 10.18 per cent, the Ministry said.

Non-petroleum and non-gems and jewellery exports during the month in consideration at $21.11 billion increased just over 1 per cent, as compared to $20.88 billion in December 2017.

Petroleum products, electronic goods, and plastic and linoleum products showed a high export growth during the month under review.

Instead, imports in December at $41.01 billion fell by 2.44 per cent as compared to the imports of 42.03 billion in the same month of 2017.

"Oil imports in December 2018 were $10.67 billion, which was 3.16 per cent higher in dollar terms, compared to $10.35 billion in December 2017," the statement said.

Global Brent crude oil price has increased by 12.07 per cent in December 2018, vis-?-vis December 2017, the Ministry said.

"Non-oil imports in December 2018 were estimated at $30.33 billion, which was 4.27 per cent lower in dollar terms compared to $31.69 billion in December 2017," the statement said.

"Non-oil and non-gold imports were $27.76 billion in December 2018, recording a negative growth of 1.86 per cent, as compared to non-oil and non-gold imports in December 2017, the statement said.

As per RBI data on Tuesday on services exports in November 2018, these declined marginally by 0.82 per cent at $16.68 billion compared to the previous month. The trade balance in services for the month is estimated at $6.57 billion.

"Taking merchandise and services together, overall trade deficit for April-December 2018-19 is estimated at $82.72 billion as compared to $69.63 billion in April-December 2017-18," the RBI said.

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

Facebook Comments
India's December merchandise exports up marginally, trade deficit lower

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at gopi@socialnews.xyz