Trade deficit rise 3.2% to US$ 13.83 billion in November 2017
India's merchandise exports surged 30.5% to US$ 26.20 billion in November 2017 over a year ago. Meanwhile, merchandise imports increased 19.6% to US$ 40.02 billion. The trade deficit rose 3.2% to US$ 13.83 billion in November 2017 from US$ 13.01 billion in November 2016.Oil imports moved up 39.1% to US$ 9.55 billion, while the non-oil imports also surged 14.6% to US$ 30.47 billion in November 2017 over November 2016. The share of oil imports in total imports was 23.9% in November 2017, compared with 20.7% in November 2016. India's basket of crude oil galloped 37.9% to US$ 61.32 per barrel in November 2017 over November 2016.
Among the non-oil imports, the major contributors to the overall rise in imports were pearls, precious & semi-precious stones imports rising 85.8% to US$ 2.92 billion, electronic goods 25.0% to US$ 4.37 billion, coal, coke & briquettes etc 51.8% to US$ 2.00 billion, organic & inorganic chemicals 49.1% to US$ 1.80 billion, electrical & non-electrical machinery 23.2% to US$ 2.70 billion, non-ferrous metals 42.8% to US$ 1.14 billion and iron & steel 35.8% to US$ 1.26 billion.
The imports also improved for metaliferrous ores & other minerals by 50.2% to US$ 0.85 billion, artificial resins, plastic materials etc 18.2% to US$ 1.15 billion, medicinal & pharmaceutical products 32.9% to US$ 0.51 billion, chemical material & products 24.5% to US$ 0.57 billion, professional instrument, optical goods etc 31.5% to US$ 0.40 billion and wood & wood products 16.0% to US$ 0.51 billion.
However, the imports have declined for gold by 26.0% to US$ 3.27 billion, pulses 37.7% to US$ 0.38 billion, transport equipment 8.4% to US$ 1.93 billion and project goods 46.4% to US$ 0.11 billion in November 2017.
On exports front, the engineering goods recorded an increase in exports by 43.8% to US$ 7.18 billion, followed by petroleum products 47.7% to US$ 3.59 billion, gems & jewellery 32.7% to US$ 3.36 billion, organic & inorganic chemicals 54.3% to US$ 1.65 billion, marine products 32.2% to US$ 0.75 billion, and plastic & linoleum 40.9% to US$ 0.61 billion.
The exports also moved up for drugs & pharmaceuticals by 13.4% to US$ 1.44 billion, rice 44.7% to US$ 0.51 billion and electronic goods 26.1% to US$ 0.58 billion in November 2017.
Further, the exports has improved for cotton yarn/fabrics/made-ups, handloom products etc by 15.4% to US$ 0.88 billion, man-made yarn/fabrics/made-ups etc 28.0% to US$ 0.38 billion, spices 31.3% to US$ 0.24 billion and oil seeds 39.9% to US$ 0.18 billion in November 2017.
The exports also moved up for meat, dairy & poultry products by 10.0% to US$ 0.52 billion, mica, coal & other ores, minerals including processed minerals 14.1% to US$ 0.29 billion, and leather & leather products 1.0% to US$ 0.42 billion, while it declined for fruits & vegetables by 9.5% to US$ 0.18 billion, and RMG of all textiles 10.0% to US$ 1.04 billion in November 2017.
Merchandise exports in rupees increased 25.2% to Rs 169913 crore, while imports moved up 14.7% to Rs 259612 crore in November 2017 over November 2016. The trade deficit rose to Rs 89700 crore in November 2017 compared with Rs 87973 crore in November 2016.
India's merchandise exports increased 10.1% to US$ 170.29 billion, while merchandise imports surged 22.3% to US$ 256.43 billion in April-November 2017. An increase in imports was driven by a 20.6% jump in oil imports to US$ 56.25 billion. India's merchandise trade deficit galloped to US$ -86.15 billion in April-November 2017 from US$ -54.91 billion in April-November 2016.
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