India's exports decline 1.8% in FY2013

Merchandise imports rise 0.4% with 9.2% surge in petroleum products import in FY2013

India's merchandise exports declined 1.8% to USD 300.6 billion in FY2013, snapping 21.8% increase for FY2012. Meanwhile, the merchandise imports rose 0.4% to USD 491.5 billion in FY2013 against 32.3% growth recorded in FY2012. The increase in imports was mainly driven by 9.2% surge in petroleum oil products to USD 169.25 billion in FY2013. The share of petroleum oil products in India's overall imports has increased to 34.4% in FY2013 from 31.7% in FY2012 and 28.7% in FY2011.

With the decline in exports, India's merchandise trade deficit increased to USD 190.92 billion in FY2013 from USD 183.36 billion in FY2012 and USD 118.63 billion in FY2012.

Trade deficit as a percentage of GDP increased to 10.35% in FY2013 up from 9.87% in FY2012 and 7.04% in FY2011.

India's Trade (USD Million) FY11 FY12 FY13 VariationFY12 FY13Export 251136 305964 300571 21.8 -1.8Import 369769 489320 491487 32.3 0.4Petroleum Oil Products 105964 154968 169253 46.2 9.2Trade Deficit -118633 -183356 -190917 54.6 4.1Oil/Import (%) 28.66 31.67 34.44 Source: Ministry of Commerce and Industry

 

India's Trade (Rs crore) FY11 FY12 FY13 VariationFY12 FY13Export 1142922 1465959 1635261 28.3 11.5Import 1683467 2345463 2673113 39.3 14.0Trade Deficit -540545 -879504 -1037852 62.7 18.0GDP 7674148 8912179 10028118 16.1 12.5 Export/GDP (%) 14.89 16.45 16.31 155.6 -14.2Import/GDP (%) 21.94 26.32 26.66 438.1 33.9Trade Deficit/GDP (%) -7.04 -9.87 -10.35 (282.5) (48.1)Source: Ministry of Commerce and Industry

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