Exports in India

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India - Exports

Export growth slows in December

Merchandise export growth slowed to 0.3% in December, down from 0.8% in November. The slowdown was primarily due to a high base effect, while the expansion itself was underpinned by increased exports of electronic goods and petroleum products. Merchandise imports, meanwhile, decreased 2.4% in December, contrasting growth of 4.3% in November. This outturn was also explained by a high base effect and reflected fewer imports of gold and a substantially-moderated increase in oil imports.

The merchandise trade deficit was USD 13.1 billion in December, wider than the USD 14.1 billion shortfall in the same month a year earlier but narrower than the USD 16.7 billion deficit in the previous month. The 12-month trailing sum of the trade deficit narrowed to USD 183.2 billion in December from USD 184.3 billion in November, the first such narrowing since September 2017.

Our panelists forecast that exports will expand 12.2% in FY 2018 and imports will rise 15.5%, bringing the merchandise trade deficit to USD 193.0 billion. In FY 2019, we expect exports and imports will expand 6.1% and 5.1% respectively, which would result in a merchandise trade deficit of USD 200.0 billion.

India - Exports Data

2013  2014  2015  2016  2017  
Exports (USD billion)314  311  262  275  303  

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