India Trade deficit fell to USD 14.73 Billion in January 2019
The Country’s Trade deficit fell to USD 14.73 Billion in the last month, Exports were grew by 3.74 percent to USD 26.36 Billion. The Export numbers mostly driven by Chemicals, Pharmaceuticals, Ready made garments, Gems and Jewellery and the Engineering Goods.
The Sale of Chemicals were increased by 15.56 percent, Pharmaceuticals by 15.2 percent, Ready made garments were at 9.33 percent, Gems and Jewellery by 6.67 percent and Engineering Goods by 1.07 percent growth in the Exports. Imports in the last month January 2019, were stood at USD 41.09 Billion.
India’s trade deficit were also decreased to USD 14.73 Billion. The Trade deficit of during the same period in the year of 2018, was seen at USD 15.67 Billion. The Import of Gold rose by 38 percent to USD 2.31 Billion. Last year in the January 2018, the Gold import was seen at $ 1.8 Billion.
For India, the trade deficit for the last 10 months in this current Financial Year 2018-19, were ended with USD 155.93 Billion. It was USD 136.25 Billion in the Past FY17-18 (April 2017 – January 2018) for the 10 months ending period.
In the first 10 months of this current fiscal year, the Country’s export grew by 9.5 percent and 11 percent in Imports. In the month of December 2018, the imports were declined by 2.44 percent, which is the highest decline Since August, 2016. Gold Imports rose by 38 percent in the last month, while Metals, Pearls, Precious and Semi-precious stones and Transport equipment have fallen by more than 20 percent.
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