India Trade July 2017


India: Trade deficit widens in July

August 17, 2017

Recently released data related to India’s external sector showed that the trade deficit totaled USD 11.5 billion in July, which was a greater shortfall than the USD 7.8 billion gap recorded in July 2016 (June 2017: USD 12.9 billion deficit).

The deterioration in trade data came on the back of moderate growth in exports, while imports grew robustly. Exports grew 3.9% annually in July, below the previous month’s 4.4% increase and totaling USD 22.5 billion. Imports expanded a notable 15.3% over the same month last year (June: +18.9% year-on-year), and totaled USD 34.0 billion.

The rolling 12-month trade deficit widened from USD 127 billion in June to USD 130 billion in July.

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 Trade Chart

India Trade12m July 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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