BCN-26 India’s exports grow at nearly 18 percent, but trade deficit too widens

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ZCZC

BCN-26

INDIA-ECONOMY-EXPORTS

India’s exports grow at nearly 18 percent, but trade deficit too widens

NEW DELHI, Nov. 17, 2018 (BSS/Xinhua) – India’s overall exports, including both
merchandise and services, are estimated to be 308.32 billion U.S. dollars
from April to October, thereby exhibiting a growth of 17.17 percent over the
same period last year, said the official data released by the Commerce
Ministry.

And, the overall imports during the seven months (April-October) are
estimated to be 374.88 billion U.S. dollars, showing a growth of 18.88
percent over the same period last year, added the official data.

Total exports during October alone were 26.98 billion U.S. dollars, as
compared to 22.89 billion U.S. dollars in the same month last year, thereby
registering a positive growth of 17.86 percent.

Total oil imports in October stood at 14.21 billion U.S. dollars which was
52.64 percent higher, compared to 9.31 billion U.S. dollars in the same month
last year.

Oil imports during April-October were 83.94 billion U.S. dollars, which
was 50.48 percent higher compared to 55.78 billion U.S. dollars over the same
period last year.

High growth was witnessed in plastic & linoleum, petroleum, organic &
inorganic chemicals, drugs & pharmaceuticals, engineering and electronic
goods and various labour-intensive sectors including gems & jewellery,
leather & leather products, ceramic products & glassware, commodities and in
some agri-products.

Reacting to the positive growth in exports during the month October,
president of Federation of Indian Export Organisations Ganesh Kumar Gupta
said it re-affirmed India’s assessment of reaching the new milestone of 350
billion U.S. dollars in the current fiscal, the highest ever exports figures
during recent years braving all the odds.

BSS/XINHUA/SR/1940 HRS