In July, exports totalled USD 29.3 billion, which represents an 81.8% expansion over the same month last year. The buoyant expansion marked the largest year-on-year increase on record and followed a 46.4% rise in June. However, the pace of expansion reflects both sustained exports and a favourable comparison base, as exports had grown a paltry 12.6% in July last year, which was the slowest rate since the end of the recession. That said, the moving three-month sum reached USD 84.5 billion, which was 60.6% higher than in the same period last year. Imports rose to USD 40.4 billion, which marked a 51.5% increase over the same month last year and overshot the 42.5% increase tallied in June. As a result, despite the resilient growth in exports, the trade deficit widened from USD 7.7 billion in June to USD 11.1 billion in July The government has set an export target of USD 500 billion for the fiscal year 2013/14, which is approximately twice the current level of exports.
India Trade Balance
Trade deficit widens despite buoyant export growth
September 1, 2011
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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.