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India's Trade Deficit Widens To $14.73 Billion In January


Data released by the Ministry of Commerce and Industry showed India's merchandise trade deficit had widened to $14.73 billion for the month of January 2019. The deficit was at $15.67 billion in January 2018 and $13.08 billion in December 2018.

India's Trade Deficit Widens To $14.73 Billion In January

"India's overall exports (Merchandise and Services combined) in April-January 2018-19 are estimated to be $439.98Billion, exhibiting a positive growth of 9.07per cent over the same period last year. Overall imports in April-January2018-19 are estimated to be $530.55Billion, exhibiting a positive growth of 10.74per cent over the same period last year," the statement said.

The merchandise exports grew 3.74 percent at $26.36 billion from growth in textiles, pharmaceuticals, drugs and organic and inorganic chemicals. In rupee terms, exports were Rs 1.86 lakh crore in January 2019 in comparison to Rs 1.61 lakh crore in January 2018, registering a positive growth of 15.31percent.

Imports remained stable with a marginal 0.01 percent rise to $41.09 billion. In rupee terms, it was 11.16 percent higher at Rs 2. 61 lakh crore in January 2018.

For the period between April 2018 and January 2019, exports (merchandise) grew 9.52 percent to $271.8 billion while increase hopes of $330 billion for the current fiscal year.

Read more about: trade deficit
Story first published: Saturday, February 16, 2019, 11:13 [IST]
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