Exports grew marginally by 0.34 per cent to $ 27.93 billion in December 2018 on account of negative growth in sectors such as engineering and gems & jewellery, according to a Commerce Ministry data. In Rupee terms, exports were Rs. 1,97,535.86 crore in December 2018, as compared to Rs. 1,78,802.77 crore in December 2017, registering a positive growth of 10.48 per cent.
Cumulative value of exports for the period April-December 2018-19 was US $ 245.44 Billion (Rs.17,11,905.60 crore) as against US $ 222.77 Billion (Rs.14,36,614.25 crore) during the period April-Dec 2017-18, registering a positive growth of 10.18 per cent in Dollar terms (19.16 per cent in Rupee terms).
Non-petroleum and Non Gems and Jewellery exports in December 2018 were US $ 21.11 Billion, as compared to US $ 20.88 Billion in December 2017, exhibiting a positive growth of 1.08 per cent. Non-petroleum and Non Gems and Jewellery exports in April-December 2018-19 were US $ 177.66 Billion, as compared to US $ 164.66 Billion for the corresponding period in 2017-18, an increase of 7.90 per cent.
Imports, however, dipped by 2.44 per cent to $ 41 billion during the last month, narrowing the trade deficit to $ 13 billion. The trade deficit stood at $ 14.2 billion in December 2017.
Gold imports declined by 24.33 per cent to $ 2.56 billion in December last year as against $ 3.39 billion in the same month of 2017.
During April-December this fiscal, exports grew by 10.18 per cent to $ 245.44 billion. Imports rose by 12.61 per cent to $ 386.65 billion. The trade deficit widened to $ 141.2 billion during the nine months of the current fiscal from $ 120.57 billion in April-December 2017-18. Oil imports in December 2018 rose by 3.16 per cent to $10.67 billion.
Source :- Dailyshippingtimes.com