India’s exports fall for 17th Month in April, trade deficit hits 5 year low

Export

New Delhi: A serious decline in experts for Seventeenth month seen due to the continuous fall in the shipments of the Petroleum products and also in engineering products. This was seen in a row in April by 6.7 per cents to 20.5 billion dollars. Not only this, but the said fall is also experienced in the imports too, which by 23.1 per cents to 25.4 billion dollars in the month under the review as against thirty- three billion dollars as was seen in the month of April, last year.

Moreover, in the month of April, the trade deficit cut down to 4.8 billion dollars as compared to 11 billion dollars in the April month of last year. Moreover, the said trade gap was a 5 year low figure, as it was also seen in the year 2010’s December, at 2.6 billion dollars.

While so, the Ministry of commerce found stated that the trend of failing exports is in tandem with other major world economies. Also it is said that “the growth in exports have fallen for United States- 3.9 per cents, European Union- 0.04 per cent, China- 25.3 per cents and Japan- 1.1 per cents for February over the corresponding period of previous year as per Word Trade Organisation statistics.”

Moreover, as per the FIEO- the body of Exporters, the said down- fall in experts has been captured to the some extent both in the month of March and April. Moreover, it is also expected by FIEO that shipments move into positive territory from the month of June onwards.

However, as per the Engineering Export Promotion Council, which stated on the contrary that, “there has been an alarming deterioration in exports of highly-job oriented engineering exports.”

It is notable that since from the month of December, 2014, the exports have been falling down and it is because of the weak global demands and also slide in oil prices. Moreover, in the month of April, the oil imports also fell down by twenty four per cents to 5.6 billion dollars and non- oil imports also fell down by 22.8 per cents to 19.8 billion dollars.

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