Exports in India
India - Exports
Exports gain momentum in March, trade deficit narrows
Merchandise export growth in annual terms accelerated to 11.0% in March, noticeably up from 2.4% in February. The expansion was underpinned by increased exports of chemicals; engineering goods; ready-made garments; and drugs and pharmaceuticals. Merchandise imports, meanwhile, increased 1.4% in March, contrasting the 5.4% decrease in February. Higher imports in March were largely due to a rise in oil imports, given they rose 5.6%. On the other hand, imports of coal, chemicals and machinery decreased.
The merchandise trade deficit was USD 11.9 billion in March, which represented a notably reduction from USD 13.5 billion in the same month a year earlier. The deficit grew, however, from the USD 9.6 billion shortfall in the previous month. Meanwhile, the 12-month trailing sum of the trade deficit shrank for the fourth consecutive month to USD 176.4 billion in March, down from USD 179.0 billion in February.
Our panelists forecast that exports will expand 20.1% in FY 2018 and imports will rise 18.2%, bringing the merchandise trade deficit to USD 193.0 billion. In FY 2019, we expect exports and imports will expand 7.7% and 6.7% respectively, which would result in a merchandise trade deficit of USD 199.0 billion.
India - Exports Data
|Exports (USD billion)||314||311||262||275||303|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||7.55||-0.04 %||Jan 30|
|Exchange Rate||71.23||-0.09 %||Jan 30|
|Stock Market||35,591||-0.08 %||Jan 30|
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April 15, 2019
Merchandise export growth in annual terms accelerated to 11.0% in March, noticeably up from 2.4% in February.
April 15, 2019
In March, consumer prices rose 0.36% compared to the previous month, up from 0.22% in February.
April 12, 2019
Annual industrial production growth decelerated to 0.1% in February from a revised 1.4% in January (previously reported: +1.7% year-on-year), starkly undershooting market analysts’ expectations of 2.0% growth. In terms of sectors, the deceleration was due to a decrease in manufacturing output and slower growth in mining output.
April 4, 2019
As widely expected by market analysts, the Reserve Bank of India’s Monetary Policy Committee (MPC) cut all monetary policy rates by 0.25 percentage points at its 2–3 April meeting, reducing the repo rate to 6.00%, the marginal standing facility to 6.25% and the reverse repurchase rate to 5.75%.
April 4, 2019
The composite Purchasing Managers’ Index (PMI) produced by Nikkei and IHS Market moderated to 52.7 in March from 53.8 in February, moving closer to the 50-point threshold that separates expansion from contraction in the private sector. The services PMI decreased to 52.0 in March from 52.5 in February, which indicates the 11th consecutive month of expansion in the services sector, albeit at the slowest pace since September last year.