India Trade August 2019

India

India: Exports and imports both decrease in August

September 13, 2019

Merchandise exports declined6.0% year-on-year in August, amounting to USD 26.1 billion, contrasting July’s 2.3% increase. The decrease came despite strong growth in iron ore, electronics and spices exports. Merchandise imports, meanwhile, fell 13.4% in August, after dropping 10.4% in July, partly on significantly less imports of coal, coke and briquettes. In addition, lower oil prices helped reduce the value of oil imports in August.

The merchandise trade deficit narrowed to USD 13.5 billion in August from USD 17.9 billion in the same month a year earlier. However, the deficit in August was slightly wider than July’s USD 13.4 billion shortfall. The 12-month trailing sum of the trade deficit narrowed to USD 168.9 billion in August from USD 173.4 billion in July.

Our panelists forecast that exports will expand 7.3% in FY 2019 and imports will rise 7.0%, bringing the merchandise trade deficit to USD 189.0 billion. In FY 2020, we expect exports and imports will expand 9.0% and 7.8% respectively, which would result in a merchandise trade deficit of USD 199.0 billion.


Author:, Economist

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India Trade12m August 2019

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-sum of exports and imports in %.
Source: Ministry of Commerce and Industry and FocusEconomics calculations.


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