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India’s March trade deficit at $13.69 bn; Exports down 0.7%

Exports during August 2017 were valued at $13,701 million (Rs87,643.08cr) registering a positive growth of 3.97% in dollar terms as compared to negative growth of 1.57% during July 2017.

The trade deficit for September 2017 was estimated at $8,984.29 million, which was 0.95% lower as against the deficit of $9,070.67 million during September 2016.

Exports during August 2017 were valued at $13,701 million (Rs87,643.08cr) registering a positive growth of 3.97% in dollar terms as compared to negative growth of 1.57% during July 2017.

Imports during August 2017 were valued at $8,658 million (Rs55,383.83cr) registering a positive growth of 18.05% in dollar terms as compared to negative growth of 1.65% during July 2017 (as per RBI’s Press Release for the respective months).

Oil imports during September, 2017 were valued at $8,188.08 million, which was 18.47% higher than oil imports valued at $6,911.26 million in September 2016. Oil imports during April-September, 2017-18 were valued at $46,965.26 million, which was 18.82% higher than the oil imports of $39,527.23 million in the corresponding period last year.

In this connection, it is mentioned that the global Brent prices ($/bbl) have increased by 19.42% in September 2017 vis-à-vis September 2016 as per World Bank commodity price data.

Non-petroleum and non-gems & jewellery exports in September 2017 were valued at $20,237.82 million against $15,731.26 million in September 2016, an increase of 28.65%. Non-petroleum and non-gems and jewellery exports during April -September 2017-18 were valued at $107,676.39 million as compared to $95,354.05 million for the corresponding period in 2016-17, an increase of 12.92%