Indias exports surge 12.36% in Dec; trade deficit widens to $14.88 bn
The Dollar Business Bureau India’s merchandise exports during December last year recorded a positive growth of 12.36% year-on-year, on the back of a sharper increase in the shipments of engineering goods and petroleum products. Over the last 17 months, exports from the country have been on a positive trajectory, with a decline of just 1.1% in October 2017. However, imports recorded a sharp increase of 21.12% to $41.91 billion during the month on the back of rise in inward shipments of gold, silver, precious stones, petroleum and electronic goods. Due to this, the trade deficit has widened to $14.88 billion in the month of December, as compared to $10.54 billion over a year ago. Industry is hopeful that exports are expected to reach the ...
Indias exports jump 30% to $26 bn in Nov; imports up by 19.6%
The Dollar Business Bureau India’s exports has witnessed a sharp jump of 30% year-on-year in the month of November, on the back of good growth in the outward shipments of engineering goods, petroleum products, gems & jewellery and organic & inorganic chemicals. “Exports during November 2017 have exhibited high positive growth of 30.55% in dollar terms, vis-à-vis November 2016. This is on the pattern of positive growth in exports in last thirteen months with a dip of 1.12% in October 2017 vis-à-vis same period last year,” the Commerce Ministry said in a statement on Friday. “During November, exports are valued at $26.19 billion as compared to $20.06 billion in the same month last year. In rupee terms, exports registered an increase of 25.21% ...
Qatars exports grew 18.4% in May to $5.49 billion
The Dollar Business Bureau Qatar’s exports grew 18.4% to QR20.2 billion (about $5.49 billion) in May, on account of higher shipments of petroleum gases and other gaseous hydrocarbons such as LNG, propane, butane, etc. “The overall value of exports of goods that include shipments of domestic origin as well as re-exporting of goods in May 2017, reached at around QR20.2 billion, witnessing a sharp increase of 18.4% (year-on-year) as compared to May last year, according to the latest data by the Qatar’s Ministry of Development Planning and Statistics. On monthly basis, the country’s exports grew by 7.6% last month as compared to April, the data showed. The increase in overall exports from Qatar was mainly backed by higher shipments of petroleum gases and other ...
Exports grow 8.32%, imports by 33% in May; trade deficit widens
The Dollar Business Bureau India’s exports grew by 8.32% to $24 billion in May, registering an upward growth in the last eight months. However, the trade deficit also surged to $13.84 billion a 30-month high, majorly on account of higher gold imports. The exports growth during the month is mainly propelled by strong performance from marine products (44.58%), rice (27.08%), petroleum products (24.92%), organic & inorganic chemicals (15.34%), electronic goods (8.57%), engineering goods (8.25%), RMG of all textiles (8.06%) and gems & jewellery (6%). In May 2016, the country’s exports were $22.1 billion, according to the Ministry of Commerce data. The cumulative value of exports for the period April-May 2017-18 was $48.6 billion witnessing a growth of 13.83% compared to $42.7 billion over the same ...
Australia's first quarter trade surplus to be boosted by soaring export prices
The Dollar Business Bureau The International Trade Price Index released by Australian Bureau of Statistics for the month of March shows that while import prices remained stable, export prices soared to astonishing highs. Cumulatively, import prices increased by merely 1.2% from the first quarter of the previous year whereas export prices rose by 29.1% over the same period. As against the October-December quarter (2016), import prices experienced a fall of 0.6% while export prices grew by 9.4%. The reason cited for volatile export price movement is a turn in commodities cycle, propelled by commodity prices like those of iron ore reaching $94 per tonne towards the end of February 2017. Australia's metal exports in alumina, iron ore and copper showed a price increase of 18.8% during the January-March 2017 period. This was ...
Indias exports grow 4.32%, exports up 10.7% in Jan
The Dollar Business Bureau India’s merchandise exports rose for the fifth straight month in January, albeit sill lingering at a single-digit growth rate, as escalated shipments of raw materials such as iron ore and petroleum products helped the country cloak a 4.32% growth to $22.11 billion. The country’s January exports growth contradicted the industry’s earlier predictions that Prime Minister Narendra Modi-led demonetisation drive could significantly pull back the total exports. However, the overall impacts of the November 8 announcements were evidently marginal, as imports, too, rose a strong 10.7% to $31.96 billion, triggering an expansion of trade deficit to $9.84 billion as against $7.66 billion a year ago.The total exports during April-January 2016-17 stood at $220.93 billion compared to $218.53 billion, accumulating ...
India inks deal to route petroleum products via Bangladesh
The Dollar Business Bureau India has signed a route agreement with Bangladesh allowing the passage of petroleum products from Assam to Tripura via the territory of Bangladesh for a short-term period. Heavy rains have caused damage to the roads making transportation difficult between these two states. On humanitarian grounds, the Government of Bangladesh has granted permission for the movement of petroleum products through their territory till the end of September this year, High Commission of India in Dhaka said in a statement. State-owned Indian Oil Corporation Ltd (IOCL) and the Roads and Highways Department (RHD) of Bangladesh signed an MoU on Thursday in Dhaka. Under the terms of the pact, petroleum items such as motor spirit, high speed diesel, superior kerosene oil and liquefied petroleum gas ...
Indias engineering exports drop 19% in April
The Dollar Business Bureau India’s engineering exports to major international markets including the UAE, China, and Sri Lanka plunged by 19 percent in April this year, according to Engineering Export Promotion Council (EEPC). In April, overall engineering exports shrank by 6.74 percent to $20.5 billion due to sharp fall in shipments of petroleum and engineering products. The country’s engineering imports also plummeted by 23.1 percent to $25.41 in April this year as against $33 billion during the same month last year. According to the engineering body, India’s engineering exports to Sri Lanka have nosedived around 90 percent to 63 million in April this year as against $648 million in the same month last year. The shipments of engineering goods to ...
