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India Exports Rise Faster Than Imports

India Exports Rise Faster Than ImportsIndia Exports Rise Faster Than Imports

India’s external trade turned positive, perhaps for the first time, with growth in exports surpassing that of imports for the first time, in September 2017, bringing festive cheer for exporters and policy-makers, domain.com reported. Merchandise exports from the country moved to a higher growth trajectory of 25.67% with September exports reaching $28.61 billion, helped by better performance by all the top 10 commodity groups, ranging from engineering items to textiles. Although exports have been in the positive zone for the past 13 month, it is for the first time that growth in exports surpassed that of imports. The trade deficit, too, narrowed in September by 0.95% to $8.98 billion against 9.07 billion in September last year, but the overall trade deficit during the April-September 2017-18 period stood at $72.13 billion. Cumulative exports during April-September 2017-18 stood at $147.19 billion against cumulative imports of $219.32 billion, leaving a gap of $72.13 billion. Imports into the country increased 18.09% in September to $37.59 billion, according to an official data released on Friday.

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