Indias exports rise in October at 9.59% Back to News & Events List


India’s export of goods increased 9.59 per cent to $ 23.51 billion (year-on-year) — the second consecutive month of growth and the third monthly increase this fiscal — raising optimism among exporters of a turnaround.

Imports during the month rose 8.11 per cent, mainly due to a doubling of gold imports, to $33.67 billion, increasing trade deficit to $10.16 billion from $9.69 billion in the same month last year.

Goods exports declined for the second consecutive year in 2015-16 dipping 15.85 per cent to $ 261.13 billion.

The increase in exports in October was spread across 17 sectors, out of 30 major product groups. These include carpets, marine products, gems & jewellery, coffee, engineering goods, tobacco, meat, dairy & poultry products, RMG of all textiles and ceramic products & glassware.

Imports of gold increased 108.43 per cent in October 2016 to $3.49 billion but silver import declined 48.81 per cent to $0.18 billion. Other imports which increased include chemicals, pearls, precious & semi-precious stones, petroleum, fertilisers, transport equipment and machinery.

Total exports for the period April-October remained in the negative zone posting a 0.17 per cent fall to $154.91 billion. Imports during the period April-October at $208.08 billion fell 10.85 per cent.

Trade deficit in the April-October period at $53.16 billion was lower than $78.23 billion in the same period last year.

Meanwhile India's services exports rose by 3.4 per cent to $13.77 billion in September 2016, the data released by RBI showed. India Inc had exported services worth $13.32 billion during September 2015. The exports in September were also a tad higher than $13.38 billion in previous month of August. Services imports too increased to $8.30 billion during the month under review from $7.46 billion a year ago.

The data is based on RBI's compilation on International Trade in Services.

On cumulative basis, total services exports were $79.62 billion during April-September this fiscal.

Original Source: dailyshippingtimes.com


Recent News


20

02/2017
Fruits exports jump up by 40% in first 9 months of current fiscal

Triggered by a sharp increase in production led by grapes, India's exports of fresh fruits jumped by a staggering 40 per cent in the first nine months of the current financ...

18

02/2017
Global SMEs keen on strategic tie-ups with India

An exclusive symposium organized by India Law Offices (ILO) & Confederation of Indian Industry (CII) in the Capital on Wednesday witnessed over 100 small and medium enterpr...

14

02/2017
Jobs Vacancy at iiiEM

Join our winning team Requirement for below position Counselors – Surat, Rajkot and Vadodara Quality Auditor - Ahmedabad Event Manager - Ahmedabad Video Edit...

13

02/2017
Lots need to be done to increase Indias exports: Anant Geete

Admitting that Indian businesses are facing multiple challenges in overseas markets due to the globally competitive environment, Union Minister Anant Geete today said a lot nee...