In October, the trade balance deteriorated to a USD 19.6 billion deficit. The reading was nearly double the USD 9.8 billion deficit recorded in the previous month and, in fact, represents the largest trade deficit on record. The outturn reflected stronger imports and faltering exports. Imports amounted to USD 39.5 billion, which represents a 21.7% expansion over the same month last year and thus exceeded the 17.1% increase tallied in September. Nevertheless, the trend continues pointing downwards, with annual average growth of imports edging down from 24.4% in September to 24.1% in October. Meanwhile, exports dropped from USD 24.8 billion in September to USD 19.9 billion in October. The print marked a significant slowdown, from the 36.2% year-on-year expansion observed in September to a relatively moderate 10.8% increase. As a result, the annual average growth of exports dropped from 41.9% in September to 40.7% in October. The government has set an export target of USD 500 billion for the fiscal year 2013/14, which is approximately twice the USD 290 billion reached in the last 12 months.
India Trade Balance
Trade balance registers largest deficit on record
December 1, 2011
Looking for forecasts related to Trade Balance in India? Download a sample report now.
India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.