For Quick Alerts
For Daily Alerts

Trade Deficit For April Increases To $13.72 Billion; Exports Recover


The government's data revealed on Tuesday indicated widening of trade deficit for the April month to $13.72 billion as against $13.25 billion reported during the same month a year ago.

Trade Deficit For April Increases To $13.72 Billion; Exports Recover

Merchandise exports jumped during the month to $25.9 billion, an increase of 5.2% from the year-ago period. This is significant recovery considering a dip of 0.66% in exports during the previous month that is primary spurred due to double-double growth in exports of pharma and engineering goods.

In contrast, other areas of the country's export that includes the likes of gems and jewellery, ready-made garments and leather good saw a decline and this is most likely to hurt job sentiment in these labour-intensive sectors.

The export of refinery products even in the wake of rising crude oil prices saw a dip but a lower level of 4.48% in comparison to 13.22% and 27.44% in March and February respectively.

Non-gems and jewellery and non-oil exports registered a jump of 11.73% during the month.

Imports on the other hand also surged by 4.6% in comparison to the year-ago period to $39.6 billion but this was at a slower pace in comparison to 7.15% surge recorded for the March month. The surge in imports is primarily attributed to an over 41% increase in crude import in comparison to just 13% increase for the March month.

For the financial year 2017-18, trade deficit was pegged at $156.8 billion as against $105.72 billion in the earlier year mainly due to an increase in crude oil import bill.

Story first published: Tuesday, May 15, 2018, 23:23 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more