India's exports rise by 25.67% in September to USD 28.61 billion

New Delhi, October 14: India’s export soared by 25.67 percent to USD 28.61 billion in September on the back of rise in shipments of chemicals, petroleum and engineering products, official data released today showed.

During September 2017, all the top ten commodity groups of export have exhibited positive growth over the corresponding month of last year comprising 82.14% share in total exports. These are Engineering Goods (44.24%), Gems and Jewellery (7.10%), Petroleum Products (39.69%), Organic & Inorganic Chemicals (46.06%), RMG of all Textiles (29.39%), Drugs & Pharmaceuticals (14.67%), Cotton Yarn/Fabs./made-ups, Handloom Products etc. (15.20%),Marine Products (32.73%),Rice (45.66%) and Electronic Goods (14.32%).

Import too rose by 18.09 per cent to USD 37.6 billion in September from USD 31.83 billion in the year-ago month, according to the data released by the commerce ministry.

Trade balance stood almost flat at USD 8.98 billion in September 2017 against USD 9 billion in September 2016. Gold import dipped by 5 per cent to USD 1.71 billion last month.

Oil and non-oil imports grew by 18.47 per cent and 17.98 per cent to USD 8.18 billion and USD 29.4 billion, respectively in September.

Cumulative exports during April-September 2017-18 increased by 11.52 per cent to USD 147.18 billion, while imports grew by 25.08 per cent to USD 219.31 billion, leaving a trade deficit of USD 72.12 billion.

“In continuation with positive growth exhibited by exports for the last thirteen months, exports during September 2017 have shown growth of 25.67 per cent in dollar terms,” the ministry said in a statement.

In September, petroleum, engineering and chemicals exports grew by 37 per cent, 44.24 per cent and 46 per cent, respectively.

However, sectors which recorded negative growth include handicrafts, iron ore, and fruit and vegetables.