{"id":28794,"date":"2018-10-24T14:52:54","date_gmt":"2018-10-24T09:22:54","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=28794"},"modified":"2018-10-24T14:52:54","modified_gmt":"2018-10-24T09:22:54","slug":"trade-deficit-widens-to-14-62-billion","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/trade-deficit-widens-to-14-62-billion\/","title":{"rendered":"Trade deficit widens to $14.62 billion"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Industry\/trade-deficit-widens-to-4-month-high-of-1462-bn\/article24171514.ece\">Trade deficit widens to $14.62 billion<\/a><\/p>\n<p><strong><u>News:<\/u><\/strong><\/p>\n<ol>\n<li>India\u2019s trade merchandise trade deficit widened<\/li>\n<\/ol>\n<p><strong><u>Important facts:<\/u><\/strong><\/p>\n<ol start=\"2\">\n<li>Trade deficit widened to $14.62 billion in May 2018.<\/li>\n<li>The shortfall was $13.72 billion in April 2018 and $13.84 billion in May 2017.<\/li>\n<li><strong><u>Reasons:<\/u><\/strong><\/li>\n<\/ol>\n<ul>\n<li>50% increase in global Brent price<\/li>\n<li>Exports in May grow faster on the back of engineering goods, petro products, chemicals and pharma.<\/li>\n<\/ul>\n<p><strong>Export related figures:<\/strong><\/p>\n<ul>\n<li>Exports during 2018 were valued at $28.86 billion as compared to $ 24.1 billion in May 2017.<\/li>\n<li>Merchandise exports in April had grown by only 5.17% while imports grew 4.6%.<\/li>\n<li>Exports grew 8.32% in May 2017, while imports grew 33.1%.<\/li>\n<li>Cumulative value of exports for the period April-May 2018-19 was $54.77 billion .<\/li>\n<\/ul>\n<p><strong><u>Imports:<\/u><\/strong><\/p>\n<ul>\n<li>Imports during May 2018 were valued at $43.48 billion which was 14.85% higher in dollar terms.<\/li>\n<\/ul>\n<p><u>5<\/u><strong><u>.Major export groups that witnessed strong growth include:<\/u><\/strong><\/p>\n<ul>\n<li>Engineering goods (14.8%)<\/li>\n<li>Petroleum products(104.5%<\/li>\n<li>Organic and inorganic chemicas(34.2%)<\/li>\n<li>Drugs and pharmacuticles (25.7%)<\/li>\n<li>Cotton yarn\/fabrics\/made-ups and handloom products(24.7%).<\/li>\n<li>Oil imports during May 2018 were valued at $11.5 billion which was 49.5% higher in dollar terms and 56.7% higher in rupee terms compared to $7.69 billion in May 2017.<\/li>\n<\/ul>\n<p><u>6<\/u><strong><u>.Challenges:<\/u><\/strong><\/p>\n<ul>\n<li>To sustain the growth momentum<\/li>\n<li>The U.S.-China trade war must be watched.<\/li>\n<li>Rising raw material costs will be a challenge<\/li>\n<\/ul>\n<ol start=\"7\">\n<li><u> Conclusion:<\/u><\/li>\n<\/ol>\n<p>With the U.S. confirming 25% tariffs on $50 billion Chinese imports and the Chinese stating they would retaliate, it is time for India to keep engaged with both the U.S. and China to safeguard our own interest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trade deficit widens to $14.62 billion News: India\u2019s trade merchandise trade deficit widened Important facts: Trade deficit widened to $14.62 billion in May 2018. The shortfall was $13.72 billion in April 2018 and $13.84 billion in May 2017. Reasons: 50% increase in global Brent price Exports in May grow faster on the back of engineering&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/trade-deficit-widens-to-14-62-billion\/\">Continue reading <span class=\"screen-reader-text\">Trade deficit widens to $14.62 billion<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-28794","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704733868},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=28794"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28794\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=28794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=28794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=28794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}