Imports in India

India Imports (%) | Economic News & Forecasts

India - Imports (percent change)

Exports and imports both decrease in August

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.

India - Imports (%) Data

2013  2014  2015  2016  2017  
Imports (annual variation in %)-8.0  -0.7  -15.3  1.3  20.5  

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