India's January trade deficit lowered to $9.92 billion

Posted By:

India's January trade deficit lowered to $9.92 billion
India's trade deficit for the month of January lowered to $9.92 billion as against $10.14 billion reported for the Dec month. Trade deficit for April-January period also lowered to $119.95 billion from $167.79 dollars in the corresponding period last year.

Imports lowered by 18.1 pc year-on-year to $36.67 billion. Import of gold and silver registered a decline of 18.9% from $1.77 billion to $1.72 billion dollar month-on-month. With it, import of precious metals reported a staggering decline of 77% on an yearly basis. Ministry of Trade is known to recommend relaxation in norms concerning gold imports in the country.

Import of crude oil for the month stood at $13.18 billion, a decline of 10.1% in comparison to the corresponding period a year ago. Imports for the period from April to January lowered by 7.8% year-on-year.

Exports for the month grew marginally to $26.75 billion vs $26.35 billion month-on-month, an increase 3.8% on an yearly basis. After reporting a marginal increase, export data is expected to further improve in the coming months. For the April-January period, exports reported higher figure of $257.09 billion, an increase of 5.7% year-on-year. Export of gems and jewellery and iron ore also registered an increase in the January month.

After the release of the trade data for April-January period, rupee was trading higher at Rs. 62.32 against the dollar.

Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?