Continuing its growth trajectory for the fifth straight month, India’s merchandise exports grew by 4.32 percent to $22.11 billion in January 2017, on the back of higher shipments of petroleum products, engineering goods and iron ore. Also, the overall trade deficit widened to $9.84 billion in January as against $7.66 billion in the year-ago period. The trade deficit during the ten-month period April-January 2016-17, was $ 86.38 billion against $ 107.74 billion in the same period last year.
As per the data released by the Commerce Ministry, exports increased by 4.32 percent to $22.11 billion in January 2017, as compared to $21.19 billion in the same month a year ago. In the rupee terms exports was higher by 5.61 percent to Rs 150559.98 crore as compared to Rs 142568.31 crore in January 2016. Cumulative value of exports for the period April-January 2016-17 was $220.92 billion as against $218.53 billion, registering a positive growth of 1.09 percent over the same period last year. In Rupee terms it was up by 4.50 percent to Rs 1484473.55 crore from 1420572.68 crore.
Non-petroleum exports in January 2017 were valued at $19.42 billion as against $19.11 billion in January 2016, an increase of 1.6 percent. Non-petroleum exports during April-January 2016-17 were valued at $196.25 billion as compared to $192.07 billion for the corresponding period in 2016, an increase of 2.2 percent.
Imports during January 2017, increased by 10.70 percent to $31.95 billion as compared to $28.86 billion in January 2016, while in rupee terms it was up by 12.07 percent to Rs 217557.32 crore from Rs 194134.02 crore in January 2016. However, Cumulative value of imports for the period April-January 2016-17 was $307.31 billion as against $326.27 billion, registering a negative growth of 5.81 percent over the same period last year. In rupee terms the cumulative imports was Rs 2065656.42 crore, down by 2.57 percent from Rs 2120158.57 crore in the same period last year.
Oil imports during January 2017, were valued at $8.14 billion which was 61.07 percent higher than oil imports valued at $5.05 billion in the corresponding month last year. Oil imports during April-January, 2016-17 were valued at $69.06 billion which was 5.81 percent lower than the oil imports of $73.32 billion in the corresponding period last year.
Non-oil imports during January 2017 were estimated at $23.81 billion which was 0.01 percent higher than non-oil imports of $23.81 billion in the same month last year. Non-oil imports during April-January 2016-17 were valued at $238.24 billion which was 5.81 percent lower than the level of such imports valued at $252.95 billion in April-January, 2015-16.