India's exports moves up 17.6% to US$ 27.70 billion in June 2018

Indias merchandise exports increased 17.6% to US$ 27.70 billion in June 2018 over a year ago. Meanwhile, merchandise imports moved up 21.3% to US$ 44.30 billion. The trade deficit jumped 28.1% to US$ 16.60 billion in June 2018 from US$ 12.96 billion in June 2017.

Oil imports galloped 56.6% to US$ 12.73 billion, while the non-oil imports also moved up 11.2% to US$ 31.58 billion in June 2018 over June 2017. The share of oil imports in total imports was 28.7% in June 2018, compared with 22.2% in June 2017. The price of Indias basket of crude oil galloped 58.6% to US$ 73.85 per barrel in June 2018 over June 2017.

Among the non-oil imports, the major contributors to the overall rise in imports were electrical & non-electrical machinery imports rising 32.8% to US$ 3.27 billion, electronic goods 14.3% to US$ 4.89 billion, coal, coke & briquettes etc 27.0% to US$ 2.22 billion, organic & inorganic chemicals 24.3% to US$ 2.09 billion, crude & manufactured fertilizers 70.7% to US$ 0.96 billion, iron & steel 27.4% to US$ 1.44 billion, non-ferrous metals 30.7% to US$ 1.30 billion and medicinal & pharmaceutical products 45.9% to US$ 0.62 billion. The imports also improved for artificial resins, plastic materials etc by 12.3% to US$ 1.34 billion, transport equipment 7.3% to US$ 1.47 billion, chemical material & products 17.1% to US$ 0.63 billion and professional instrument, optical goods etc 16.1% to US$ 0.42 billion.

However, the imports have declined for pearls, precious & semi-precious stones by 17.1% to US$ 2.77 billion, pulses 82.2% to US$ 0.06 billion, vegetable oil 18.4% to US$ 0.84 billion, gold 2.8% to US$ 2.39 billion and wood & wood products 1.6% to US$ 0.50 billion in June 2018.

On exports front, the petroleum products recorded an increase in exports by 52.5% to US$ 4.07 billion, followed by engineering goods 14.2% to US$ 6.74 billion, organic & inorganic chemicals 30.3% to US$ 1.79 billion, plastic & linoleum 44.3% to US$ 0.71 billion, and drugs & pharmaceuticals 14.7% to US$ 1.58 billion. The exports also moved up for cotton yarn/fabrics/made-ups, handloom products etc by 24.3% to US$ 0.99 billion, electronic goods 23.5% to US$ 0.65 billion, gems & jewellery 2.7% to US$ 3.51 billion and mica, coal & other ores, minerals including processed minerals 31.9% to US$ 0.36 billion in June 2018.

Further, the exports have improved for man-made yarn/fabrics/made-ups etc by 8.5% to US$ 0.40 billion, ceramic products & glassware 13.6% to US$ 0.20 billion, spices 7.4% to US$ 0.25 billion, fruits & vegetables 6.7% to US$ 0.15 billion and handicrafts excluding handmade carpet 5.8% to US$ 0.16 billion in June 2018.

However, the exports declined for RMG of all textiles by 12.3% to US$ 1.36 billion, rice 6.1% to US$ 0.71 billion, marine products 4.4% to US$ 0.56 billion, leather & leather products 2.7% to US$ 0.45 billion, and meat, dairy & poultry products 15.4% to US$ 0.31 billion in June 2018.

Merchandise exports in rupees increased 23.7% to Rs 187800 crore, while imports moved up 27.6% to Rs 300352 crore in June 2018 over June 2017. The trade deficit rose to Rs 112552 crore in June 2018 compared with Rs 83517 crore in June 2017.

Indias merchandise exports increased 14.2% to US$ 82.47 billion, while merchandise imports moved up 13.5% to US$ 127.41 billion in April-June 2018. An increase in imports was driven by a 49.4% jump in oil imports to US$ 34.64 billion. Indias merchandise trade deficit rose to US$ 44.94 billion in April-June 2018 from US$ 40.05 billion in April-June 2017.