India's April-June merchandise trade deficit hits $46.33 billion
16 July 2019
India added $15.28 billion to its merchandise trade deficit in June 2019 taking overall deficit to $46.33 billion for the first three months of the current financial year (April-June 2019-20).June merchandise trade deficit, however, was lower in absolute terms compared to a deficit of $16.60 billion in June 2018.
Merchandise exports from the country declined to $25.01 billion (Rs1,73,682.55 crore) in June 2019 from $27.70 billion (Rs1,87,800,20 crore) in June 2018, showing a negative growth of 9.71 per cent in dollar terms and a negative growth of 7.52 per cent in rupee terms.
Cumulative value of exports for April-June 2019-20 stood at $81.08 billion (Rs5,63,984.51 crore) against $82.47billion (Rs5,52,781.61 crore) during the period April-June 2018-19, registering a negative growth of 1.69 per cent in dollar terms and a growth of 2.03 per cent in rupee terms.
Exports of products other than petroleum and gems and jewellery in June 2019 stood at $19.15 billion, compared to $20.13 billion in June 2018, exhibiting a negative growth of 4.86 per cent. Exports of such products in April-June 2019-20 stood at $60.10 billion against $59.86billion for the corresponding period in 2018-19, showing an increase of 0.40 per cent.
The country imported goods valued at $40.29 billion (Rs2,79,771.07 crore) in June 2019, which was 9.06 per cent lower in dollar terms and 6.85 per cent lower in rupee terms over imports worth $44.30billion (Rs3,00,351.83 crore) in June 2018.
Cumulative value of imports for April-June 2019-20 stood at $127.04 billion (Rs8,83,652.93 crore), against $127.41 billion (Rs8,54,096.98 crore) during April-June 2018-19, showing a decline of 0.29 per cent in dollar terms and growth of 3.46 per cent in rupee terms.
Oil imports, the single largest item in the country’s import basket, stood at $11.03 billion (Rs76,586.73 crore) in June 2019, showing a decline of 13.33 per cent in dollar terms and an 11.23 per cent fall in rupee terms, compared to imports worth $12.73 billion (Rs86,270.79 crore) in June 2018.
Oil imports in April-June 2019-20 stood at $34.85billion (Rs2,42,398.55 crore), which was 0.62 per cent higher in dollar terms and 4.36 per cent higher in rupee terms, compared to imports worth $34.64 billion (Rs2,32,269.14 crore) in April-June 2018-19.
Non-oil imports in June are estimated at $29.26 billion (Rs2,03,184.34 crore) which is 7.34 per cent lower in dollar terms and 5.09 per cent lower in rupee terms, compared to such imports worth $31.58 billion (Rs2,14,081.04 crore) in June 2018.
Non-oil imports in April-June 2019-20 are estimated at $92.19 billion (Rs6,41,254.38 crore), which is 0.62 per cent lower in dollar terms and 3.12 per cent higher in rupee terms, compared to imports worth $92.77 billion (Rs6,21,827.84crore) in April-June 2018-19.
Imports of goods other that oil and gold stood at $26.57 billion in June 2019, showing a negative growth of 9.00 per cent compared to such imports worth $29.19 billion in June 2018.
Non-oil and non-gold imports in April-June 2019-20 were worth $80.75 billion, which shows a negative growth of 4.25 per cent compared to such imports worth $84.33billion in April-June 2018-19.
Merchandise trade deficit for June 2019 was estimated at $15.28 billion as against the deficit of $16.60 billion in June 2018.
India’s overall exports (merchandise and services combined) in April-June2019-20 stood at an estimated $137.26 billion, showing a growth of 3.14 per cent over exports in the same period of the previous fiscal.
Overall imports in April-June 2019-20 are estimated at $164.50billion, which shows a growth of 3.57 per cent over the same period last year.