Imports growth eases on weak gold and silver imports
India's exports growth slowed down to 3.49%, while imports dipped 15.25% in December 2013. With the sharp contraction in imports, the trade deficit stood at $10140.26 million in December 2013.After four sequential months of double digit growth exports growth eased to 5.9% in November and further slowed down to 3.49% (y-o-y basis). Imports continued to for seventh straight month at 15.25% (y-o-y basis) in December 2013 with the dip in non-oil imports.
Oil imports during December 2013 were valued at $13899.6 million which was 1.1% higher than oil imports valued at $13755.6 million in the corresponding period last year. Oil imports during April-December 2013-14 were valued at $124958.1 million which was 2.6% higher than the oil imports of $121831.8 million in the corresponding period last year.
Non-oil imports during December 2013 were estimated at US $ 22586.7 million which was 22.9% lower than non-oil imports of $29295.0 million in December 2012. Non-oil imports during April-December, 2013-14 were valued at $215420.1 million which was 11.1 per cent lower than the level of such imports valued at $242410.4 million in April-December 2012-13.
Exports during December, 2013 were valued at US $ 26346.06 million (Rs.163109.25 crore) which was 3.49% higher in Dollar terms (17.24% higher in Rupee terms) than the level of $25457.54 million (Rs. 139119.85 crore) during December, 2012. Cumulative value of exports for the period April-December 2013-14 was $230335.72 million (Rs 1386496.32 crore) as against US $ 217415.29 million (Rs 1184748.94 crore) registering a growth of 5.94% in Dollar terms and growth of 17.03% in Rupee terms over the same period last year.
Imports during December, 2013 were valued at $36486.32 million (Rs.225887.93 crore) representing a negative growth of 15.25% in Dollar terms and a negative growth of 3.98% in Rupee terms over the level of imports valued at $43050.57 million (Rs. 235261.91 crore) in December 2012. Cumulative value of imports for the period April-December 2013-14 was $340378.21 million (Rs. 2036568.32 crore) as against $364242.23 million (Rs. 1983940.59 crore) registering a negative growth of 6.55% in Dollar terms and growth of 2.65% in Rupee terms over the same period last year.
The trade deficit for April-December 2013-14 was estimated at $110042.49 million which was lower than the deficit of $146826.94 million during April-December 2012-13.
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