India's Exports Up! show 1.34 % Growth in April 2019
New Delhi, May17: India’s overall exports in April this year have registered a positive growth of 1.34% over the April last year. The overall exports, combining Merchandise and Services in April is estimated to be $ 44.06 billion.
According to the Ministry of Commerce and Industry Data released on Wednesday, India’s overall imports in April is estimated to be around $ 52.83 billion with an increase of 4.53% over the corresponding period last year.
Thus there is around nine billion dollars’ overall trade deficit as compared to around seven billion dollars in the same period last year.
Merchandise Exports in April 2019 were $ 26.07 billion as compared to $ 25.91 billion in April 2018. Exhibiting a positive growth of 0.64%. The growth in merchandize exports was mainly due to growth in exports of petroleum produsts (30%), electronic goods (27.78%), organic and inorganic chemicals (15.06%), RMG of all textiles (4.42%) and drugs and pharmaceuticals (4.03%). Non-petroleum and non-gems and jewelry in April 2019 exhibited a negative growth of 1.31%.
As per the data released by the Ministry of Commerce and industry, sectors showing negative growth in merchandise imports were transport equipment (-31.69%), Vegetable Oil (-20.70%), Pearls, Precious and Semi-Precious Stones (-8.90%), Wood and Wood Products (-1.36%) and Organic and inorganic chemicals (-0.06%).
Crude Oil Imports in April 2019 were $11.38 billion which was 9.26% higher compared to $ 10.41 billion in April 2018. The Overall Trade Deficit (Merchandise and Services combined) for April 2019 is estimated at $ 8.78 billion as compared to $ 7.07 billion in April 2018.