SME Times News Bureau | 15 Aug, 2018
Exports from the country in June rose by 14.32 per cent to
$25.77 billion, from $22.54 billion during the corresponding month of last year,
according to official figures shown on Tuesday.
Exports during July 2018 were valued at US $ 25.77 Billion
as compared to US $ 22.54 Billion during July 2017 exhibiting a positive
growth of 14.32 per cent, said an official release.
Despite the rise in exports, imports rose however, at more
than double the pace, with the trade deficit for the month widening to over $18
billion, the data shows.
Engineering goods, petroleum products, gems and jewellery,
organic and inorganic chemicals and drugs and pharmaceuticals showed a high
export growth during the month under review.
"Cumulative value of exports for the period April-July 2018-19 was $108.24
billion as against $94.76 billion registering a positive growth of 14.23 per
cent in dollar terms," the ministry said in its review statement.
"Non-petroleum and non-gems and jewellery exports during July 2018 were
valued at $18.68 billion as compared to $16.98 billion during July 2017
exhibiting a positive growth of 9.98 per cent."
As per the data, the country's imports during the month under review rose by
28.81 per cent to $43.79 billion in July 2018 from $33.99 billion in the like
period of 2017.
Segment-wise, oil imports during July 2018 jumped by 57.41 per cent to $12.35
billion from $7.84 billion imported during July 2017.
The ministry pointed out that global Brent prices ($/bbl) have increased by
53.16 per cent in July 2018 vis-à-vis July 2017.
"Non-oil and non-gold imports in July 2018 valued at $28.47 billion has
recorded a positive growth of 18.42 per cent as compared to non-oil and
non-gold import in July 2017," the statement said
Additionally, gold imports in July edged higher by 40.94 per cent to $2.10 billion.
Consequently, India's merchandise trade deficit widened to $18.02 billion
during last month as against $11.45 billion in the corresponding period the
previous year.