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Exports in October show negative growth of 1.1 per cent
Economy

Exports in October show negative growth of 1.1 per cent

Agency News

New Delhi, Nov 15: Exports in October were USD 26.38 billion as compared to USD 26.67billion in the same month last year, exhibiting a negative growth of 1.11 per cent, according to government data released on Friday.

Imports in October 2019 were US D37.39billion which was 16.31per cent lower over imports of USD 44.68 billion in October 2018.

The trade deficit for October 2019 was estimated at USD11.01billion as against the deficit of USD18.00 billion in the same month last year.

Taking merchandise and services together, overall trade deficit for April-October 2019-20 is estimated at USD 49.45 billion as compared to USD71.45 billion in April-October 2018-19.

Cumulative value of imports for the period April-October 2019-20 was USD280.67billion as against USD306.31billion during the period April-October 2018-19, registering a negative growth of 8.37per cent.

India’s overall exports (Merchandise and Services combined) in April-October 2019-20 are estimated to be USD 310.23 billion, exhibiting a positive growth of 1.51per cent over the same period last year.

Overall imports in April-October 2019-20 are estimated to be USD 359.68 billion, exhibiting a negative growth of 4.61per cent over the same period last year

Cumulative value of exports for the period April-October 2019-20 was USD185.95 billion as against USD190.15billion during the same period last year, registering a negative growth of 2.21per cent.

Non-petroleum and Non Gems and Jewellery exports in October 2019 were USD19.04billion, as compared to USD18.93billion in October 2018, exhibiting a positive growth of 0.59per cent.

Oil imports in October 2019 were USD9.63billion, which was 31.74 percent lower compared to USD14.11billion in October 2018.

Non-oil imports in October 2019 were estimated at USD27.76billion which was 9.19per cent compared to USD30.57billion in October 2018.

Non-Oil and Non-Gold imports wereUSD25.92billion in October 2019, recording a negative growth of 10.04per cent.

As per the latest press statement by RBI , exports in services for September 2019 were USD 17.54 billion registering a positive growth of 7.05 per cent. The estimated value of services export for October 2019 is USD 17.22 billion.

The imports of services in September 2019 were USD 11.10 billion registering a positive growth of 11.56 per cent against September 2018. The estimated value of service Import for October 2019 is USD 10.92 billion. (UNI)