Exports revive with 4.6% growth in September Back to News & Events List


Reviving in September, India’s exports grew 4.62% year-onyear to $22.8 billion with 18 of the 30 exporting sectors showing growth. This is the second instance of growth this year after June when exports had risen 1.27% after declining for 18 months in a row. With a 2.5% fall in imports to $31.2 billion , the trade deficit stood at $8.33 billion.

Exports during September, 2016, have shown sign of revival,’’ commerce department said in a release in Friday. Gold imports declined 10% to $1.8 billion last month. The situation is improving because demand has gone up in most countries and government’s support measures are now showing results, said Ajay Sahai, director general and CEO, Federation of Indian Export Organisations.

However, export of petroleum goods dipped 1.43% to $2.55 billion in September while oil imports grew 3.13% to $6.88 billion. As for services trade, data released by RBI showed 4.7% growth in exports at $13 billion and an 8% rise in imports at $8,054 million in August.

The revival in merchandise exports in September 2016 is encouraging. A persistence of this nascent trend would support the domestic consumption led recovery in economic activity in second half of FY 2017,’ guided Aditi Nayar, vice-president & senior economist, ICRA.

Original Source: economictimes.indiatimes.com


Recent News


14

10/2017
Reforms undertaken by India significant: World Bank chief

The reforms undertaken by Prime Minister Narendra Modi have been significant and the results would be reflected in the mid and long-term growth figures, the World Bank chief sa...

13

10/2017
Indo-Bhutan trade infrastructure to have large scale upgradation

To ensure seamless trade of Bhutan with India and other third parties, India is further widening its door for Bhutan.    Development and upgradation of n...

12

10/2017
Govt to focus on setting up mini food processing units

The government is focussing on creating mini food processing units across the country to encourage farmers to produce high-quality farm output, Food Processing Industries Mini...

11

10/2017
GST benefits will have positive impact on exporters, SMEs

The GST relief given to small and medium enterprises (SMEs) and exporters will have a positive impact, industry body SMERA said on Monday.   The GST Council on F...