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India’s exports rise to five-month high in March; trade deficit narrows to $10.89 billion
Apr-16-2019

Continuing their growth momentum for sixth straight month, India’s merchandise exports rose to a five-month high of 11.02 percent in March 2019 as compared to same period of last year, on account of higher growth mainly in pharma, chemicals and engineering sectors. However, trade deficit, gap between imports and exports, narrowed to $10.89 billion during the month under review, as against the deficit of $13.51 billion in March 2018. Though, the trade deficit has widened to $176.42 billion during the fiscal 2018-19 from $162.05 billion compared to the year-ago period. 

As per the data released by the Commerce Ministry, merchandise exports grew by 11.02% to $32.55 billion in March 2019, as compared to $29.32 billion in the same month a year ago. In Rupee terms, exports were higher by 18.63% to Rs 2,26,138.76 crore in March 2019, as compared to Rs 190,619.25 crore in March 2018. Cumulative value of exports for the period April-March 2018-19 was $331.02 billion as against $303.53 billion during the period April-March 2017-18, registering a positive growth of 9.06%. In Rupee terms, it was up by 18.29% to Rs 23,14,429.08 crore from Rs 19,56,514.53 crore. 

Non-petroleum and Non Gems and Jewellery exports in March 2019 were $25.59 billion, as compared to $22.57 billion in March 2018, exhibiting a positive growth of 13.41%. Non-petroleum and Non Gems and Jewellery exports in April-March 2018-19 were $243.02 billion, as compared to $224.52 billion for the corresponding period in 2017-18, an increase of 8.24%.

On the other hand, imports during March 2019 rose by 1.44% to $43.44 billion as compared to imports of  $42.82 billion in March 2018, and in rupee terms it was up by 8.39% to Rs 3,01,814.05 crore from Rs 2,78,441.24 crore in March 2018. Cumulative value of imports for the period April- March 2018-19 was $507.44 billion, as against $465.58 billion during the period April- March 2017-18, registering a positive growth of 8.99%. In rupee terms, it was Rs 35,48,004.48 crore, up by 18.23% from Rs 30,01,033.43 crore in the same period last year.  

Oil imports in March 2019 were $11.75 billion, which was 5.55% lower, compared to $11.13 billion in March 2018. Oil imports in April- March 2018-19 were $140.47 billion which was 29.27% higher compared to $108.66 billion, over the same period last year. Non-oil imports were estimated at $31.69 billion in March 2019. Non-oil imports in April- March 2018-19 were $366.97 billion which was 2.82% higher, compared to $356.92 billion in April- March 2017-18. Non-Oil and Non-Gold imports were $28.42 billion in March 2019, down 2.67% over the same period of last year. Non-Oil and Non-Gold imports were $334.15 billion in April- March 2018-19, up 3.37%, over the same period of last year.

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