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Informist, Wednesday, Aug 14, 2024

 

--India Jul exports $33.98 bln vs $34.49 bln yr ago 

--India Jul imports $57.48 bln vs $53.49 bln yr ago 

--India Jul trade deficit $23.50 bln vs $19.00 bln year ago 

--India Apr-Jul exports $144.12 bln vs $138.39 bln yr ago 

--India Apr-Jul imports $229.70 bln vs $213.53 bln yr ago 

--India Apr-Jul trade deficit $85.58 bln vs $75.14 bln year ago 

--India Jul non-oil imports at $43.61 bln vs $41.67 bln yr ago 

--India Jul non-oil exports at $28.75 bln vs $27.77 bln yr ago 

--India Apr-Jul oil imports at $65.37 bln vs $53.66 bln yr ago 

--India Apr-Jul oil exports at $25.94 bln vs $25.75 bln yr ago 

--India Apr-Jul engineering goods export $36.97 bln vs $35.49 bln 

--India Apr-Jul electronic goods imports $30.55 bln vs $27.52 bln 

--India Apr-Jul electronic goods exports $11.24 bln vs $8.98 bln 

--India Apr-Jul gold imports $12.64 bln vs $13.20 bln yr ago 

--India Apr-Jul gems and jewellery exports $9.10 bln vs $9.83 bln 

--India Apr-Jul imports from China $35.86 bln vs $32.70 bln yr ago 

--India Apr-Jul imports from Russia $23.78 bln vs $19.76 bln yr ago 

--India Apr-Jul exports to US $27.45 bln vs $25.17 bln yr ago 

--Trade secy: Exports down in Jul due to low petroleum shipments 

--Trade secy on Bangladesh crisis: Watchful of situation 

 

NEW DELHI – India's merchandise trade deficit widened to $23.50 bln in July from $19.00 bln a year ago because of a rise in imports while exports declined, data released by the commerce ministry today showed.

 

Goods exports fell 1.5% on year to $33.98 bln last month, while imports grew 7.5% to $57.48 bln. Exports had risen 2.6% on year to $35.20 bln in June, while imports had increased 5.0% on year to $56.18 bln.

 

Trade Secretary Sunil Barthwal said that exports fell in July due to low petroleum shipments. Petroleum product exports slumped 22.2% on year to $5.23 bln in July.

 

Non-oil exports, on the other hand, increased 3.5% on year to $28.75 bln. Non-oil imports, too, rose 4.7% on year in July to $43.61 bln.

 

In Apr-Jul, exports rose 4.1% on year to $144.12 bln, and imports increased 7.6% to $229.70 bln. The trade deficit in the first four months of 2024-25 (Apr-Mar) was $85.58 bln, up 13.9% on year.

 

Oil imports increased 21.8% on year to $65.37 bln in Apr-Jul, while petroleum product exports inched up 0.7% to $25.94 bln in this period. 

 

India also exported engineering goods worth $36.97 bln in Apr-Jul, up 4.2% on year. Gems and jewellery exports, meanwhile, fell 7.4% on year to $9.10 bln in Apr-Jul.

 

Electronic goods imports rose 11.0% on year to $30.55 bln in the first four months of the financial year, while electronic goods exports were up 25.2% on year at $11.24 bln.

Gold imports declined to $12.64 bln in Apr-Jun, down 4.2% on year.

 

China remained the biggest import source nation in Apr-Jul, followed by Russia. Imports from China rose 9.6% on year to $35.86 bln in Apr-Jul, while those from Russia were up 20.3% on year at $23.78 bln.

 

The US was India's biggest export destination, with goods worth $27.45 bln shipped to the world's largest economy in Apr-Jul. India had exported goods worth $25.17 bln to the US in the same period last year.

 

Asked about the impact of the political turmoil in Bangladesh on trade, Barthwal said that the government is watchful of the situation, and it is too early to say if there will be any substantial hit on trade due to the same. There has been political instability in Bangladesh since last week after Sheikh Hasina resigned from the post of prime minister and fled Dhaka due to nationwide anti-government protests. 

 

The following tables detail trade data for July and Apr-Jul, in bln dollars, and the percentage changes:

 

	July 2024	July 2023	Year-on-year change (%)
Exports	33.98	34.49	(-)1.5
Engineering goods	9.04	8.72	3.7
Gems and jewellery	1.84	2.30	(-)20.4
Petroleum products	5.23	6.72	(-)22.2
Imports	57.48	53.49	7.5
Oil imports	13.87	11.81	17.4
Non-oil imports	43.61	41.67	4.7
Electronic goods	8.66	7.77	11.5
Gold	3.13	3.50	(-)10.7
Trade deficit	23.50	19.00	23.7

 

	Apr-Jul 2024-25	Apr-Jul 2023-24	Year-on-year change (%)
Exports	144.12	138.39	4.2
Imports	229.7	213.53	7.6
Oil imports	65.37	53.66	21.8
Non-oil imports	164.33	159.87	2.8
Gold imports	12.64	13.2	(-)4.2
Trade deficit	85.58	75.14	13.9

Source: Ministry of Commerce and Industry 

 

End

US$1 = 83.95 rupees

 

Reported by Shubham Rana, Krity Ambey and Sagar Sen

Edited by Tanima Banerjee

 

 

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