India Trade August 2017

India

India: Trade deficit widens in August

September 18, 2017

Recently released data related to India’s external sector showed that the trade deficit totaled USD 11.7 billion in August, which was a greater shortfall than the USD 7.7 billion gap recorded in August 2016 (July 2017: USD 11.5 billion deficit).

The deterioration in trade data came on the back of robust growth in exports, while imports jumped. Exports grew 10.3% annually in August, well above the previous month’s 3.9% increase and totaling USD 23.8 billion. Imports expanded a notable 21.2% over the same month last year (July: +15.3% year-on-year), and totaled USD 35.5 billion.

The rolling 12-month trade deficit widened from USD 130 billion in July to USD 134 billion in August.

FocusEconomics Consensus Forecast panelists expect exports to grow 7.6% in FY 2017 and 8.0% in FY 2018.


Author: Angela Bouzanis, Senior Economist

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India Trade12m August 2017

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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