India’s April-Feb merchandise trade deficit hits $165.53 bn

The country exported goods worth $26.67 billion (Rs1,89,931.49 crore) in February 2019 compared to $26.03 billion (Rs1,67,583.64 crore) in February 2018, showing a positive growth of 2.44 per cent in dollar terms and a 13.34 per cent growth in rupee terms.

Cumulative value of exports for the period April-February 2018-19 stood at $298.47 billion (Rs20,88,290.32 crore) as against $274.21 billion (Rs17,65,895.27 crore) during April-February 2017-18, recording a positive growth of 8.85 per cent in dollar terms and an 18.26 per cent growth in rupee terms.

Exports of goods other than petroleum and gems and jewellery products in February 2019 stood at $19.87Billion against exports worth $18.90 billion in February 2018, showing a growth of 5.14 per cent. Non-petroleum and non-gems and jewellery exports in April-February 2018-19 stood at $217.43 billion, compared to $201.95 billion in the corresponding period of 2017-18, an increase of 7.66 per cent.

Imports in February 2019 stood at $36.26 billion (Rs2,58,271.75 crore), which is 5.41 per cent lower in dollar terms and 4.66 per cent higher in rupee terms compared to imports worth $38.34 billion (Rs2,46,779.79 crore) in February 2018. 

Cumulative value of imports for April-February 2018-19 stood at $464.00 billion (Rs32,46,190.43 crore), against $422.76 billion (Rs27,22,592.19 crore) during April-February 2017-18, posting a growth of 9.75 per cent in dollar terms and a 19.23 per cent growth in rupee terms.

Crude oil imports in February 2019 stood at $9.38 billion (Rs66,774.46 crore), which is 8.05 per cent lower in dollar terms and 1.73 per cent higher in rupee terms, compared to $10.20 billion (Rs65,639.50 crore) in February 2018. Oil imports in April-February 2018-19 stood at $128.72 billion (Rs9,01,538.30 crore) which is 31.98 per cent higher in dollar terms and 43.57 per cent higher in rupee terms compared to crude imports worth $97.53 billion (Rs6,27,961.37 crore) in the same period last year.

Non-oil imports in February 2019 are estimated at $26.89 billion (Rs1,91,497.29 crore) which is 4.45 per cent lower in dollar terms and 5.72 per cent higher in rupee terms, compared to $28.14 billion (Rs1,81,140.29 crore) in February 2018. Non-oil imports in April-February 2018-19 stood at $335.28 billion (Rs23,44,652.13 crore), which is 3.09 per cent higher in dollar terms and 11.94 per cent higher in rupee terms, compared to $325.23 billion (Rs20,94,630.82 crore) in April-February 2017-18.

India’s overall exports (merchandise and services combined) in April-February 2018-19 are estimated to be $483.98 billion while overall imports in April-February 2018-19 are estimated to be $577.31 billion.

Overall trade deficit for the April-February 2018-19 period stood at $93.33 billion.