Diabytes
India's trade News
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The trade deficit has widened by more $31 billion in the first seven months of the current financial year to $86.15 billion, which could put pressure on the current account deficit of Asia's third largest economy.
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Trade deficit widened to USD 14 billion during the month under review as against USD 11.13 billion in October 2016.
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Trade deficit narrowed to 7-month low of USD 8.98 billion in the month under review from USD 9.07 billion in September 2016.
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The trade deficit in the month widened to USD 11.64 billion from USD 7.7 billion during the same month a year ago.
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Nearly three-fold jump in gold imports at USD 4.95 billion led to widening of trade deficit during the last month. It was USD 6.27 billion in May 2016.
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India's exports exhibited a double digit growth of 17.48 percent, valued at USD 24.5 billion in February compared to USD 20.84 billion during the same month last year on increase in shipments of non-petroleum, non gems and jewellery products.
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India's exports continued to grow for the fifth straight month, expanding by 4.32 percent to USD 22.11 billion in January against USD 21.19 billion in the same month of 2016.
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The Indian economy is likely to grow by 7.4 percent in the next fiscal year, India Ratings and Research (Ind-Ra) on Tuesday said.
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Imports, however, contracted by 8.44 per cent to USD 241.1 billion, leaving a trade deficit of USD 66.17 billion.
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Cumulative value of exports for the period April-September 2016-17 was USD 131.4 billion as against USD 133.7 billion registering a negative growth of 1.74 percent over the same period last year.
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India's exports declined for the second consecutive month in August by 0.3 percent to USD 21.51 billion due to dip in shipments of products like petroleum and leather.
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The full impact of the UK's decision to exit European Union on India may take some time to unfold, Commerce and Industry Minister Nirmala Sitharaman said Wednesday.
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Declining for the 18th straight month in May, exports dipped by 0.79 percent to USD 22.17 billion due to slowdown in global demand.
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Trade deficit in April more than halved to USD 4.84 billion as compared to USD 11 billion in the same month last year.
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Declining for 16th straight month in March, exports contracted by 5.47 percent to USD 22.71 billion in the month as shipments of petroleum and engineering products shrunk sharply due to tepid global demand.
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Trade deficit, however, fell to near five-year low of USD 6.54 billion during February as imports too slowed down.
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The trade deficit for April-February, 2015-16 was estimated at USD 113388.50 million which was lower than the deficit of USD 126298.78 million during April-February, 2014-15.
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The survey, tabled in Parliament, also said that the continuance of low commodity prices globally augurs well for sustaining low trade and current account deficit.
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Contraction in exports continued for the 12th month in a row in November which saw 24.43 percent decline in merchandise shipments to USD 20.01 billion amid a global demand slowdown.
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The July-September CAD is lower than USD 10.9 billion, or 2.2 percent of GDP, in the same quarter of last fiscal.
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