{"id":31249,"date":"2018-10-27T12:43:43","date_gmt":"2018-10-27T07:13:43","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31249"},"modified":"2018-10-27T12:43:43","modified_gmt":"2018-10-27T07:13:43","slug":"trade-deficit-widens-to-16-3bn-in-jan","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/trade-deficit-widens-to-16-3bn-in-jan\/","title":{"rendered":"Trade deficit widens to $16.3bn in Jan."},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Economy\/trade-deficit-surges-to-163bn-in-jan\/article22764877.ece\"><b>Trade deficit widens to $16.3bn in Jan.<\/b><\/a><\/p>\n<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">According to the data released by the Commerce Ministry India\u2019s goods trade deficit has widened to $16.30 billion in January 2018 <\/span><\/p>\n<p><b>Highlights:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The goods trade deficit has widened to $16.30 billion in January 2018 from $9.9 billion in the same month a year ago and $14.88 billion in the previous month owing to imports outpacing exports<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The January trade deficit is a more than three-year high.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Exports for January went up by 9.07% year-on-year to $24.38 billion.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, goods imports rose 26.1% to $40.68 billion.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Exports have been on a positive trajectory since August 2016 to January 2018 with a dip of 1.1% in the month of October 2017<\/span><\/li>\n<\/ul>\n<p><b>Imports and Exports:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">During the April-January 2017-18 period, trade deficit was $131.15 billion.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Exports during April-January 2017-18 increased by 11.75% to $247.89 billion,<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, imports during the 10-month period of the current fiscal registered a 22.21% growth to $379.05 billion.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Oil and non-oil imports during January jumped by 42.64% and 20.49% to $11.65 billion and $29 billion, respectively<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Shipments of ready-made garments declined by 8.38% to $1.39 billion last month in January<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Shipments of chemicals, engineering goods and petroleum products grew by 33%, 15.77% and 39.5% in January<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Gold imports shrunk 22% to $1.59 billion. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to the data by the Reserve Bank,<\/span> <span style=\"font-weight: 400;\">the exports in services in December 2017 were valued at $16 billion. The imports stood at $9.85 billion.<\/span><\/li>\n<\/ul>\n<p><b>According to Federation of Indian Export Organisations (FIEO)<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Though exports in January 2018 witnessed positive growth for third time in a row, the rate of growth is declining on a month-on-month basis.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Of export growth of about 9%, more than 6% has been contributed by petroleum products alone.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Labour-intensive sectors like garments, carpets, handicrafts, man-made textiles are exhibiting negative growth primarily due to liquidity crunch emanating from blocking of funds in GST<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">FIEO has estimated that the trade deficit in this fiscal will touch about $150 billion<\/span><\/li>\n<\/ul>\n<p><b>Way Out:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">FIEO wants the government to look into the refund issues by undertaking a clearance drive so as to clear all cases by March 31, 2018.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Alternatively, banks may be asked to finance exporters against the pending GST refund claims with interest to be borne by the government<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Trade deficit widens to $16.3bn in Jan. Context: According to the data released by the Commerce Ministry India\u2019s goods trade deficit has widened to $16.30 billion in January 2018 Highlights: The goods trade deficit has widened to $16.30 billion in January 2018 from $9.9 billion in the same month a year ago and $14.88 billion&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/trade-deficit-widens-to-16-3bn-in-jan\/\">Continue reading <span class=\"screen-reader-text\">Trade deficit widens to $16.3bn in Jan.<\/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-31249","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704798157},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31249","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=31249"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31249\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}