SME Times is powered by   
Search News
Just in:   • Textile traders extend 3-day strike against GST  • Key equity market indices open higher  • LT Foods sets up plant in Europe to popularise 'Daawat' rice  • Vodafone India partners with HMD Global for Nokia smartphones  • Fitch Ratings maintains negative outlook on banking sector 
Last updated: 16 May, 2017  

Exports.9.Thmb.jpg Exports up by 20 percent in April 2017

Exports.9.jpg
   Top Stories
» No deferring GST launch, clears FM Arun Jaitley
» Cabinet gives in-principle nod to divest bleeding Air India
» Opposition parties may skip GST launch on June 30
» Govt notifies mandatory linking of Aadhaar with PAN
» 'Incubators for startups in every parliamentary constituency'
SME Times News Bureau | 16 May, 2017
India's exports revival continued for the eighth successive month, recording 19.77 percent growth during April 2017, official data showed on Monday.

According to data released by the Ministry of Commerce and Industry, exports grew by 19.77 percent to USD 24.63 billion from USD 20.56 billion worth of merchandise shipped out during April 2016.

"In continuation with the double-digit growth exhibited by exports during March 2017, exports during April 2017 have shown growth of 19.77 percent in dollar terms valued at USD 24,635.09 million as compared to USD 20,568.85 million during April 2016," the ministry said in a statement.

"Non-petroleum and non- gems and jewellery exports in April 2017 were valued at USD 17,718.87 million against USD 15,136.41 million in April 2016 -- an increase of 17.06 percent."

However, the country's imports during the month under review increased by 49.07 percent to USD 37.88 billion. India's oil imports during last month increased by 30.12 percent to USD 7.35 billion.

"The global Brent prices (USD /bbl) have increased by 25.40 percent in April 2017 vis-à-vis April 2016 as per World Bank commodity price data," the statement said.

The data revealed that non-oil imports were up by 54.50 percent, to USD 30.52 billion from USD 19.75 billion in the corresponding month of last year.

Consequently, the trade deficit during the month under review was higher by 173.47 percent to USD 13.24 billion from USD 4.84 billion reported for April 2016.

Further, the ministry disclosed the services exports data provided by the Reserve Bank of India (RBI).

"Exports during March 2017 were valued at USD 14,179 million registering a positive growth of 8.57 percent in dollar terms as compared to negative growth of 3.76 percent during February 2017," the ministry's statement said.

"Imports during March 2017 were valued at USD 8,267 million registering a positive growth of 14.26 percent in dollar terms as compared to negative growth of 13.96 percent during February 2017."

The ministry said that cumulative trade balance including merchandise and services sectors has improved.

"Taking merchandise and services together, overall trade deficit for April-March 2016-17 is estimated at USD 40,980 million which is 16.87 percent lower in dollar terms than the level of USD 49,297.53 million during April-March 2015-16," the statement added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
65.15
63.50
UK Pound
83.40
80.60
Euro
73.45
70.95
Japanese Yen 59.75 57.70
As on 29 Jun, 2017
  Daily Poll
Should Govt tax farm income above certain level?
 Yes
 No
 Can't say
  Commented Stories
» GST transition for SMEs(24)
» Starting an import export business: Basic guide for beginners(13)
» SMEs, start-ups to benefit from GST: Vastada Consulting(2)
» Poor state of state finances(2)
» After note ban now SMEs get scared of GST(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter