Exports up 4 per cent, imports marginally

According to the data released by the Ministry of Commerce and Industry, India’s January 2019 exports increased to $26.36 billion from $25.41 billion reported for the corresponding month of 2018.

“Non-petroleum and non-gems and jewellery exports in January 2019 were $19.90 billion, as compared to $18.40 bn in Jan 2018, exhibiting a positive growth of 8.17 pc,” the Ministry said in its review statement.

“Cumulative value of exports for the period April-January 2018-19 was $271.80 billion as against $248.18 billion during the period April-January 2017-18, registering a positive growth of 9.52 per cent in dollar terms,” it said. As per the data, organic and inorganic chemicals, drugs and pharmaceuticals, gems and jewellery and engineering goods showed high export growth during the month under review.

On the other hand, imports in January inched up by 0.01 per cent to $41.09 billion from $41.08 billion reported for the corresponding month of 2018.

“Oil imports in January 2019 were $11.24 bn, which was 3.59 pc lower in dollar terms, compared to $11.66 bn in Jan 2018,” it said. “In this connection it is mentioned that the global Brent price ($/bbl) has dipped by 14.09 pc in Jan 2019 vis-à-vis Jan 2018 as per data from World Bank (Pink Sheet),” it said.