Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Indian exports rise for 11th straight month in July, grow 4%

Author: IANS/Wednesday, August 16, 2017/Categories: Economy

Indian exports rise for 11th straight month in July, grow 4%

New Delhi - Indian exports rose for the 11th consecutive month in July 2017, according to official data.

Exports in July at $22.5 billion recorded a growth of over 3.9% on the back of a healthy rise in shipments of engineering goods, petroleum products and chemicals, according to data released by the Commerce Ministry.

The country's exports during the corresponding month of last year stood at $21.69 billion.

"In continuation with the positive growth exhibited by exports for the last eleven months, exports during July 2017 have shown growth of 3.94% in dollar terms valued at $22,543.80 million as compared to $21,689.57 million during July,2016.," the ministry statement said.

"During July 2017, major commodity groups of export showing positive growth over the corresponding month of last year are engineering goods (15.16%), petroleum products (20.27), organic and inorganic chemicals (20.67), cotton yarn/fabrics/made-ups, handloom products etc.(5.39) and marine products(30.53)," it said. 

However, the country's imports during the month under review also increased by 15.42% to $33.99 billion from $29.45 billion.

"Major commodity group of imports showing high growth in July 2017 over the corresponding month of last year are petroleum, crude and products (15.02%), electronic goods (22.5), machinery, electrical and non-electrical (7.34), pearls, precious and semi-precious stones (6.86) and gold (95.05)," the statement said.

Besides, the data showed that India's oil imports during July increased by 15.02% to $7.84 billion, from $6.82 billion in the same month last year.

"The global Brent prices ($/barrel) have increased by 8.03% in July 2017 vis-à-vis July 2016 as per World Bank commodity price data," the statement said.

Non-oil imports were up by 15.55% to $26.14 billion, from $22.63 billion in the corresponding month of last year.

Consequently, the trade deficit during the month under review rose higher to $11.45 billion from $7.76 billion reported for July 2016.

Further, the ministry disclosed that the services exports data provided by the Reserve Bank of India (RBI) for June 2017 was estimated at $13.39 billion, and the trade deficit at $5.9 billion.

"Taking merchandise and services together, overall trade deficit for April-July 2017-18 is estimated at $34.07 billion, as compared to $10.80 billion during April-July 2016-17," the statement added.

Print Rate this article:
No rating

Number of views (453)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free