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      India trade deficit widens to 16-months high in November 2016

      MoM Team / Mumbai, Dec 16, 2016 11:12 AM IST

        India trade deficit widens to 16-months high in November 2016

        India's merchandise exports increased 2.3 percent to $ 20.01 billion in November 2016 over a year ago. Meanwhile, merchandise imports surged 10.4 percent to $ 33.02 billion. The trade deficit jumped 25.9 percent to 16-months high of $ 13.01 billion in November 2016 from $ 10.34 billion in November 2015.

        Oil imports rose 5.9 percent to $ 6.84 billion, while the non-oil imports gained 11.7 percent to $ 26.18 billion in November 2016 over November 2015. The share of oil imports in total imports was 20.7 percent in November 2016, compared with 21.6 percent in November 2015. India's basket of crude oil increased 4.6 percent to $ 44.46 per barrel in November 2016 over November 2015.

        Among the non-oil imports, the major contributors to the overall rise in imports were gold imports rising 23.2 percent to $ 4.36 billion, pearls, precious & semi-precious stones 60.9 percent to $ 1.57 billion, crude petroleum & products 5.9 percent to $ 6.84 billion, coal 32.5 percent to $ 1.28 billion, pulses 53.6 percent to $ 0.61 billion, electronic goods 5.4 percent to $ 3.54 billion, electrical & non-electrical machinery 8.3 percent to $ 2.23 billion and chemical material & products 23.6 percent to $ 0.46 billion.

        The imports also improved for vegetable oil by 9.6 percent to $ 0.91 billion, metaliferrous ores & minerals 10.9 percent to $ 0.54 billion, project goods 30.8 percent to $ 0.21 billion, wood & products 12.4 percent to $ 0.44 billion and artificial resins 4.9 percent to $ 0.98 billion.

        On the other hand, the imports have declined for transport equipment 37.9 percent to $ 1.19 billion, iron & steel 16.2 percent to $ 0.93 billion, silver 36.3 percent to $ 0.18 billion, medicinal & pharmaceutical products 8.4 percent to $ 0.39 billion, organic & inorganic chemicals 2.5 percent to $ 1.21 billion, fruits & vegetables 9.8 percent to $ 0.16 billion, pulp and waste paper 16.4 percent to $ 0.06 billion and textile yarn fabric, made-up articles 9.3 percent to $ 0.12 billion in November 2016.

        On exports front, the engineering goods recorded an increase in exports by 11.6 percent to $ 4.96 billion, followed by iron ore 1012.8 percent to $ 0.19 billion, marine products 27.9 percent to $ 0.57 billion, petroleum products 3.4 percent to $ 2.41 billion, fruits & vegetables 43.6 percent to $ 0.25 billion, drugs & pharmaceuticals 5.8 percent to $ 1.27 billion, organic & inorganic chemicals 5.9 percent to $ 1.07 billion, and leather & leather products 6.4 percent to $ 0.42 billion.

        However, the exports declined for, gems & jewellery 12.8 percent to $ 2.53 billion, rice 18.2 percent to $ 0.35 billion, man-made yarn/fabrics/made-ups 11.0 percent to $ 0.30 billion, RMG of all textiles 2.9 percent to $ 1.15 billion, coal & other ores, minerals 8.1 percent to $ 0.24 billion, plastic & linoleum 2.2 percent to $ 0.43 billion, tea 6.9 percent to $ 0.06 billion, in November 2016.

        Merchandise exports in rupees increased 4.6 percent to Rs 135316 crore, while imports moved up 13.0 percent to Rs 223290 crore in November 2016 over November 2015. The trade deficit widened to Rs 87973 crore in November 2016 compared with Rs 68335 crore in November 2015.

        India's merchandise exports rose 0.3 percent to $ 174.92 billion, while merchandise imports fell 8.1 percent to $ 241.10 billion in April-November 2016. The decline in imports was driven by a 13.4 percent plunge in oil imports to $ 53.28 billion. India's merchandise trade deficit declined to $ 66.18 billion in April-November 2016 from $ 87.91 billion in April-November 2015.

        India's merchandise exports increased 2.3 percent to $ 20.01 billion in November 2016 over a year ago. Meanwhile, merchandise imports surged 10.4 percent to $ 33.02 billion. The trade deficit jumped 25.9 percent to 16-months high of $ 13.01 billion in November 2016 from $ 10.34 billion in November 2015.

        Oil imports rose 5.9 percent to $ 6.84 billion, while the non-oil imports gained 11.7 percent to $ 26.18 billion in November 2016 over November 2015. The share of oil imports in total imports was 20.7 percent in November 2016, compared with 21.6 percent in November 2015. India's basket of crude oil increased 4.6 percent to $ 44.46 per barrel in November 2016 over November 2015.

        Among the non-oil imports, the major contributors to the overall rise in imports were gold imports rising 23.2 percent to $ 4.36 billion, pearls, precious & semi-precious stones 60.9 percent to $ 1.57 billion, crude petroleum & products 5.9 percent to $ 6.84 billion, coal 32.5 percent to $ 1.28 billion, pulses 53.6 percent to $ 0.61 billion, electronic goods 5.4 percent to $ 3.54 billion, electrical & non-electrical machinery 8.3 percent to $ 2.23 billion and chemical material & products 23.6 percent to $ 0.46 billion. The imports also improved for vegetable oil by 9.6 percent to $ 0.91 billion, metaliferrous ores & minerals 10.9 percent to $ 0.54 billion, project goods 30.8 percent to $ 0.21 billion, wood & products 12.4 percent to $ 0.44 billion and artificial resins 4.9 percent to $ 0.98 billion.

        On the other hand, the imports have declined for transport equipment 37.9 percent to $ 1.19 billion, iron & steel 16.2 percent to $ 0.93 billion, silver 36.3 percent to $ 0.18 billion, medicinal & pharmaceutical products 8.4 percent to $ 0.39 billion, organic & inorganic chemicals 2.5 percent to $ 1.21 billion, fruits & vegetables 9.8 percent to $ 0.16 billion, pulp and waste paper 16.4 percent to $ 0.06 billion and textile yarn fabric, made-up articles 9.3 percent to $ 0.12 billion in November 2016.

        On exports front, the engineering goods recorded an increase in exports by 11.6 percent to $ 4.96 billion, followed by iron ore 1012.8 percent to $ 0.19 billion, marine products 27.9 percent to $ 0.57 billion, petroleum products 3.4 percent to $ 2.41 billion, fruits & vegetables 43.6 percent to $ 0.25 billion, drugs & pharmaceuticals 5.8 percent to $ 1.27 billion, organic & inorganic chemicals 5.9 percent to $ 1.07 billion, and leather & leather products 6.4 percent to $ 0.42 billion.

        However, the exports declined for, gems & jewellery 12.8 percent to $ 2.53 billion, rice 18.2 percent to $ 0.35 billion, man-made yarn/fabrics/made-ups 11.0 percent to $ 0.30 billion, RMG of all textiles 2.9 percent to $ 1.15 billion, coal & other ores, minerals 8.1 percent to $ 0.24 billion, plastic & linoleum 2.2 percent to $ 0.43 billion, tea 6.9 percent to $ 0.06 billion, in November 2016.

        Merchandise exports in rupees increased 4.6 percent to Rs 135316 crore, while imports moved up 13.0 percent to Rs 223290 crore in November 2016 over November 2015. The trade deficit widened to Rs 87973 crore in November 2016 compared with Rs 68335 crore in November 2015.

        India's merchandise exports rose 0.3 percent to $ 174.92 billion, while merchandise imports fell 8.1 percent to $ 241.10 billion in April-November 2016. The decline in imports was driven by a 13.4 percent plunge in oil imports to $ 53.28 billion. India's merchandise trade deficit declined to $ 66.18 billion in April-November 2016 from $ 87.91 billion in April-November 2015.


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      Source: Capital Market



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