Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Imports from Russia doubles to $25.69 billion in April-August.


Date: 18-09-2023
Subject: Imports from Russia doubles to $25.69 billion in April-August
The country's imports from Russia almost doubled to USD 25.69 billion during the April-August period this fiscal due to increasing inbound shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first five months of this fiscal.


The imports were USD 13.77 billion during April-August 2022.


From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's oil imports rose to over 40 per cent.


India, the world's third-largest crude importer after China and the United States, has been buying Russian oil that was available at a discount after some in the West shunned it as a means of punishing Moscow for the invasion of Ukraine.

The ministry's data showed that imports from China dipped to USD 42 billion during the period against USD 43.96 billion in the same period last year.


Similarly, imports from the US declined to USD 18 billion during the period under review from USD 21.86 billion in April-August 2022.


Imports from UAE too contracted to USD 17 billion during April-August 2023 compared to USD 22.32 billion a year ago.


On the export front, India's exports to six of its top 10 destinations have recorded a negative growth rate during the period.


Source Name : Economic Times

During the first five months of this fiscal, the country's merchandise exports to the US, UAE, China, Singapore, Germany, and Bangladesh have dipped.


However, exports to the UK, the Netherlands and Saudi Arabia have recorded positive growth.

India's exports declined 6.86 per cent to USD 34.48 billion, the seventh month in a row, in August this year due to a fall in shipments from key sectors like petroleum and gems and jewellery on subdued global demand.
 

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: 02-05-2024
Notification No. 34/2024 - Customs (N.T.)
Exchange Rate Notification No. 34/2024-Cus (NT) dated 02.05.2024-reg.

Date: 18-04-2024
Notification No. 30/2024 - Customs (N.T.)
Exchange Rate Notification No. 30/2024-Cus (NT) dated 18.04.2024-reg.

Date: 15-04-2024
Notification No.29/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 12-04-2024
NOTIFICATION No. 09/2024 – CENTRAL TAX
Seeks to extend the due date for filing of FORM GSTR-1, for the month of March 2024

Date: 10-04-2024
NOTIFICATION No. 08/2024- Central Tax
Seeks to extend the timeline for implementation of Notification No. 04/2024-CT dated 05.01.2024 from 1st April, 2024 to 15th May, 2024

Date: 09-04-2024
Notification No. 28/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-04-2024
Notification No 07/2024 – Central Tax
Seeks to provide waiver of interest for specified registered persons for specified tax periods

Date: 05-04-2024
Notification No. 23/2024-Customs
Seeks to amend No. 64/2023-Customs, dated the 7th december, 2023 in order to allow duty free imports of yellow peas with bill of lading issued on or before 30.06.2024

Date: 04-04-2024
Notification No. 27/2024 - Customs (N.T.)
Exchange Rate Notification No. 27/2024-Cus (NT) dated 04.04.2024-reg

Date: 02-04-2024
Notification No. 22/2024-Customs
Seeks to fully exempt the applicable export duty on exports of Kalanamak rice not exceeding 1000 MTs subject to the specified conditions.



Exim Guru Copyright © 1999-2024 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