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India’s exports jump 17.86% in October; trade deficit widens to $17.13 billion
Nov-16-2018

Recovering from the last month’s decline of 2.15%, India’s merchandise exports jumped 17.86% in the month of October 2018, as engineering goods, pharmaceutical and chemical shipments picked up pace. However, the trade deficit widened to $17.13 billion in the month under review, from $14.61 billion during the same month a year ago. The overall trade deficit for April- October 2018-19 is estimated at $66.57 billion as compared to $52.23 billion during April- October  2017-18.

As per the data released by the Commerce Ministry, exports grew by 17.86% to $26.98 billion in October 2018, as compared to $22.89 billion in the same month a year ago. In Rupee terms, exports were higher by 33.35% to Rs 1,98,634.84 crore in October 2018, as compared to Rs 1,48,962.64 crore in October 2017. Cumulative value of exports for the period April-October 2018-19 was $191.01 billion as against $168.64 billion during the period April-October 2017-18, registering a positive growth of 13.27%. In Rupee terms, it was up by 21.77% to Rs 13,23,940.28 crore from Rs 10,87,270.47 crore. 

Non-petroleum and Non Gems and Jewellery exports in October 2018 were $18.94 billion, as compared to $16.54 billion in October 2017, exhibiting a positive growth of 14.54%. Non-petroleum and Non Gems and Jewellery exports in April-October 2018-19 were $137.98 billion, as compared to $124.45 billion for the corresponding period in 2017-18, an increase of 10.88%.

Imports during October 2018 increased by 17.62% to $44.11 billion as compared to imports of $37.50 billion in October 2017, while in rupee terms it was up by 33.07% to Rs 3,24,774.78 crore from Rs 2,44,064.20 crore in October 2017. Cumulative value of imports for the period April-October 2018-19 was $302.47 billion, as against $259.92 billion during the period April- October 2017-18, registering a positive growth of 16.37% over the same period last year. In rupee terms, it was Rs 20,97,058.41 crore, up by 25.13% from Rs 16,75,887.95 crore in the same period last year.

Oil imports in October 2018 were $14.21 billion, which was 52.64% higher, compared to $9.31 billion in October 2017. Oil imports in April-October 2018-19 were $83.94 billion which was 50.48% higher as compared to $55.78 billion over the same period last year. Non-oil imports in October 2018 were estimated at $29.90 billion which was 6.05% higher, compared to $28.19 billion in October 2017. Non-oil imports in April-October 2018-19 were $218.53 billion which was 7.05% higher, compared to $204.14 billion in April-October 2017-18. Non-Oil and Non-Gold imports were $28.21 billion in October 2018, up 11.77% over the same period of last year. Non-Oil and Non-Gold imports were $199.21 billion in April- October 2018-19, up 8.14% over the same period of last year.

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