Exports in India
India - Exports
Exports climb in July and imports drop, leading to a narrower trade deficit
Merchandise exports increased 2.3% year-on-year in July to reach USD 26.3 billion, contrasting the 9.7% decrease in June. An over 50% increase in electronic good exports, in addition to an over 20% rise in pharmaceutical exports, helped exports return to growth territory in July. Merchandise imports, meanwhile, fell 10.4% in July to USD 39.8 billion, following the 9.1% decrease in June, on reduced imports of gems and jewelry, and petroleum, crude oil and related products.
The merchandise trade deficit narrowed to USD 13.4 billion in July, down from USD 18.6 billion in the same month a year earlier and the USD 15.3 billion deficit in June. The 12-month trailing sum of the trade deficit narrowed to USD 172.9 billion in July from USD 178.1 billion in June.
Our panelists forecast that exports will expand 8.5% in FY 2019 and imports will rise 8.4%, bringing the merchandise trade deficit to USD 189.0 billion. In FY 2020, we expect exports and imports will expand 9.1% and 7.9% respectively, which would result in a merchandise trade deficit of USD 202.0 billion.
India - Exports Data
|Exports (USD billion)||314||311||262||275||305|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.37||-0.04 %||Jul 31|
|Exchange Rate||68.88||-0.09 %||Jul 31|
|Stock Market||37,481||-0.08 %||Jul 31|
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August 14, 2019
Merchandise exports increased 2.3% year-on-year in July to reach USD 26.3 billion, contrasting the 9.7% decrease in June.
August 14, 2019
In July, consumer prices rose 0.91% compared to the previous month, up from June’s 0.63% increase, partly due to higher prices for food and beverages, which more than outweighed a decrease in energy prices. Consumer price inflation decelerated to 3.1% in July from 3.2% in June.
August 9, 2019
Industrial production increased 2.0% in annual terms in June, down from May’s revised 4.6% increase (previously reported: +3.1% year-on-year) and marking the lowest reading since February. In terms of sectors, growth in June was weighed on by weaker readings in the manufacturing and mining sectors.
August 7, 2019
The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) cut all monetary policy rates by 0.35 percentage points at its 5–7 August meeting, reducing the repo rate to 5.40%, the marginal standing facility to 5.65% and the reverse repurchase rate to 5.15%.
August 5, 2019
The composite Purchasing Managers’ Index (PMI) produced by Nikkei and IHS Market rose to 53.9 in July from 50.8 in June, representing the highest reading since November 2018.