• market on mobile

Pause Refresh
Home >> News >> Exports growth accelerates to 9.6% in October 2016
  • ECONOMY
  • Share news on Facebook Share news on Twitter

      Exports growth accelerates to 9.6% in October 2016

      MoM Team / Mumbai, Nov 16, 2016 02:51 PM IST

        Exports growth accelerates to 9.6% in October 2016

        India's merchandise exports increased at a 28-months high pace of 9.6 percent to $ 23.51 billion in October 2016 over a year ago. Meanwhile, merchandise imports moved up 8.1 percent to $ 33.67 billion, while snapping consistent decline for last 22-months.

        The trade deficit rose 4.8 percent to $ 10.16 billion in October 2016 from $ 9.77 billion in October 2015. Oil imports rose 4.0 percent to $ 7.14 billion, while the non-oil imports gained 9.3 percent to $ 26.53 billion in October 2016 over October 2015. The share of oil imports in total imports was 21.2 percent in October 2016, compared with 22.0 percent in October 2015. India's basket of crude oil increased 5.5 percent to $ 49.25 per barrel in October 2016 over October 2015.

        Among the non-oil imports, the major contributors to the overall rise in imports were gold imports rising 108.4 percent to $ 3.50 billion, pearls, precious & semi-precious stones 20.1 percent to $ 1.83 billion, petroleum, crude & products 4.0 percent to $ 7.14 billion, transport equipment 15.8 percent to $ 1.88 billion, machine tools 38.5 percent to $ 0.29 billion, chemical products 11.7 percent to $ 0.47 billion, coal, coke & briquettes 3.5 percent to $ 1.16 billion and pulses 10.0 percent to $ 0.34 billion.

        The imports also improved for professional instrument by 10.8 percent to $ 0.32 billion, vegetable oil 1.7 percent to $ 0.96 billion, electrical & non-electrical machinery 0.5 percent to $ 2.25 billion, electronic goods 0.1 percent to $ 3.76 billion and fruits & vegetables 5.1 percent to $ 0.21 billion. On the other hand, the imports have declined for iron & steel 30.7 percent to $ 0.93 billion, fertilizers 33.9 percent to $ 0.51 billion, metaliferrous ores & minerals 14.3 percent to $ 0.51 billion, non-ferrous metals 7.9 percent to $ 0.79 billion, wood & wood products 10.5 percent to $ 0.41 billion, medicinal & pharmaceutical products 9.6 percent to $ 0.40 billion, artificial resins and plastic materials 2.5 percent to $ 1.01 billion and organic & inorganic chemicals 1.7 percent to $ 1.28 billion in October 2016.

        On exports front, the gems & jewellery recorded an increase in exports by 21.8 percent to $ 4.38 billion, followed by engineering goods 13.9 percent to $ 5.27 billion, iron ore 2835.1 percent to $ 0.33 billion, petroleum products 7.2 percent to $ 2.72 billion, RMG of all textiles 10.7 percent to $ 1.36 billion, marine products 24.1 percent to $ 0.68 billion, organic & inorganic chemicals 6.6 percent to $ 1.17 billion, and meat, dairy & poultry products 11.5 percent to $ 0.45 billion.

        However, the exports declined for, drugs & pharmaceuticals by 1.7 percent to $ 1.46 billion, cotton yarn/fabrics/made-ups, handloom products 9.0 percent to $ 0.78 billion, plastic & linoleum 11.2 percent to $ 0.44 billion, leather & leather products 1.7 percent to $ 0.41 billion, man-made yarn/fabrics/made-ups 13.1 percent to $ 0.38 billion, rice 22.7 percent to $ 0.32 billion, mica, coal & other ores, minerals including processed minerals 15.9 percent to $ 0.24 billion in October 2016. Merchandise exports in rupees increased 12.4 percent to Rs 156942 crore, while imports moved up 10.9 percent to Rs 224763 crore in October 2016 over October 2015.

        The trade deficit widened to Rs 67821 crore in October 2016 compared with Rs 63544 crore in October 2015. India's merchandise export was flat at $ 154.91 billion, while merchandise imports fell 10.5 percent to $ 208.08 billion in April-October 2016. The decline in imports was driven by a 15.7 percent plunge in oil imports to $ 46.44 billion. India's merchandise trade deficit declined to $ 53.17 billion in April-October 2016 from $ 77.65 billion in April-October 2015.


        Please rate this news :

        4 Ratings | 0 Reviews






        Post your comments on this article :

        Login below to leave a comment:

              







      Source: Capital Market


    M&M accelerates after launching mini electric rickshaw

    The stock is now around 1% on the BSE.


    INTRADAY CHART

    Prev. Close : 32272.61
    You need to upgrade your Flash Player
    Prev. Close : 10085.4
    You need to upgrade your Flash Player



    feedback