During April-October 2017-18, exports have exhibited a positive growth of 9.62 per cent in dollar terms, as per data released by the Ministry of Commerce and Industry.
Cumulative value of exports for the period April-October 2017-18 was $ 170,286.55 million (Rs 10,97,858.68 crore) as against $155,344.40 million (Rs 10,39,297.59 crore), registering a positive growth of 9.62 per cent in dollar terms and 5.63 per cent in rupee terms over the same period last year.
Exports during October 2017 were valued at $ 23,098.18 million as compared to $ 23,360.61million during October 2016, a decline of 1.12 per cent in dollar terms.
In rupee terms, during October 2017 exports were valued at Rs1,50,325.95 crore as compared to Rs 1,55,926.73 crore during October 2016, registering a decline of 3.59 per cent.
During October 2017, the major commodity groups of export showing positive growth over the corresponding month of last year were engineering goods (11.77 per cent), petroleum products (14.74 per cent), organic and inorganic chemicals (22.29 per cent), cotton yarn/fabs./made-ups, handloom products etc. (4.83 per cent), marine products (8.52 per cent) and plastic and linoleum (24.46 per cent).
Non-petroleum and non-gems and jewellery exports in October 2017 were valued at $16,604.63 million as against $16,202.27 million in October 2016, an increase of 2.48 per cent. Non-petroleum and non-gems and jewellery exports during April -October 2017-18 were valued at $124,281.02 million as compared to $111,556.32 million for the corresponding period in 2016-17, an increase of 11.41 per cent.
Imports
Imports during October 2017 were valued at $ 37,117.01 million (Rs 2,41,562.31 crore) which was 7.60 per cent higher in dollar terms and 4.91per cent higher in rupee terms over the level of imports valued at $ 34,495.09 million (Rs 2,30,246.81 crore) in October 2016. Cumulative value of imports for the period April-October 2017-18 was $ 256,434.21 million (Rs 16,53,435.01 crore) as against $ 209,834.98 million (Rs 14,03,911.51 crore), registering a positive growth of 22.21per cent in dollar terms and 17.77 per cent in rupee terms over the same period last year.
The major commodity groups of import showing high growth in October 2017 over the corresponding month of last year were petroleum, crude and products (27.89 per cent), electronic goods (7.04 per cent), machinery, electrical and non-electrical (17.43 per cent), coal, coke and briquettes, etc. (66.28 per cent), and organic and inorganic chemicals (30.49 per cent).
Crude oil and non-oil imports
Oil imports during October 2017 were valued at $ 9,286.74 million which was 27.89 per cent higher than oil imports valued at $ 7,261.23 million in October 2016. Oil imports during April-October 2017-18 were valued at $ 56,252 million which was 20.23 per cent higher than the oil imports of $ 46,788.46 million in the corresponding period last year.
In this connection, it has to be mentioned that global Brent prices ($/bbl) have increased by 15.87 per cent in October 2017 vis-à-vis October 2016 as per World Bank commodity price data.
Non-oil imports during October 2017 were estimated at $ 27,830.27 million which was 2.19 per cent higher than non-oil imports of $ 27,233.86 million in October 2016. Non-oil imports during April-October 2017-18 were valued at $200,182.20 million which was 22.78 per cent higher than the level of such imports valued at $163,046.52 million in April-October 2016-17[/vc_column_text]
