Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Trade deficit shrinks as exports dip marginally and imports decline 14%.


Date: 16-09-2016
Subject: Trade deficit shrinks as exports dip marginally and imports decline 14%
NEW DELHI: India's merchandise exports in August came in at almost same level as last year with nearly half the exports sectors reporting growth, raising hope that the worst may be behind.

A sharp decline in imports led by a fall in gold buys helped keep trade deficit low.

Exports in August were pegged at $21.51 billion compared to $21.58 billion in the year ago period while imports declined 14 per cent to $29.1 billion from $33.9 billion, data released by the commerce and industry ministry showed.

Trade deficit shrank to $7.67 billion in August from $12.4 billion in May but almost unchanged from levels in July. Gold imports declined almost 77.4 per cent to $1.1 billion last month.

"The 14 sectors that have shown growth in exports are labour intensive and this is a good sign. From October onwards, we can expect growth in exports with an expectation to reach $280 billion for the full year," said Ajay Sahai, CEO, Federation of Indian Export Organizations (FIEO).

RBI data showed services exports of $12.7 billion and imports of $7.4 billion in July. Services data is available with a lag.

Aditi Nayar, senior economist at ICRA, said moderation in the services trade surplus in July for the third consecutive month is a source of concern.

"Overall the trade balance has improved," commerce department said in an official release.

Non-petroleum imports contracted 15.6 per cent to $22.4 billion while oil imports shrank 8.47 per cent to $6.7 billion. Non-oil, non-gold imports, a measure of domestic demand and strength of economy, fell 1.8 per cent to $21.7 billion.

FIEO reiterated that Rupee depreciation is one of the important factors in pushing exports but not the sole factor. Other issues like high logistics cost, high cost of credit and transaction costs also needs to be addressed besides, little support from global economy.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 24-10-2020



Date: 21-10-2020
Notification No. 38/2020-Customs
Notification regarding exemption of duties of Customs against scrips issued under the RoSL scheme for apparel and made-ups sectors.

Date: 21-10-2020
Notification No. 07/2020 – Central Excise
Notification regarding exemption of duties of Central Excise against scrips issued under the RoSL scheme for apparel and made-ups sectors

Date: 20-10-2020
Notification No. 37/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, regarding the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement.

Date: 15-10-2020
Notification No. 99/2020 - Customs (N.T.)
Exchange rate Notification No.99/2020-Cus (NT) dated 15.10.2020- regd.

Date: 13-10-2020
Trade Notice No. 30/2020-2021-DGFT
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under GSP, GSTP, India-Malaysia CECA, India-Singapore CECA w.e.f. 15th October 2020

Date: 09-10-2020
Notification No. 39/2015-2020
Amendment in Export Policy of Onions

Date: 08-10-2020
Circular No. 44/2020-Customs
Procedure for inspection of ICDs/CFSs/AFSs -reg

Date: 08-10-2020
Notification No. 49/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 07-10-2020
Public Notice No.24 /2015-20
Revision of SION H-68, H-301 & H-302 of Export Products- Double Decorative/Single side Laminates with or without Barrier Paper



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001