Exports from India increased 2.73 percent in September 2014 to 28.90 billion US dollar from 28.13 billion US dollar in September2013. This was revealed by Foreign Trade (Merchandise) data released by the Union Ministry of Commerce and Industry on 14 October 2014.
On the other hand, the value of imports increased to 43.15 billion US dollars in September 2014 from 34.25 billion US dollars in September 2013 representing a growth of 25.96 percent. Imports have increased mainly on account of growth of imports of Gold and Metalliferous Ores & Other Minerals.
As a result, trade deficit (Export value – Import value) in September 2014 stood at 14.24 billion US dollar which was 132.71 percent higher than the value of 6.12 billion US dollar in September 2013.
Cumulative value of Exports and Imports
The cumulative value of exports for the period April -September 2014 -15 stood at 163.7 billion US dollars as against 153.75 billion US dollars registering a growth of 6.47 percent.
The cumulative value of imports for the period April -September 2014 -15 stood at 234.09 billion US dollars as against 230.47 billion US dollars registering a growth of 1.57 percent.
As a result, trade deficit for April-September, 2014-15 stood at 70.39 billion US dollar which was lower than the deficit of 76.72 billion US dollars during April-September 2013-14.
Non-oil imports were estimated at 28.65 billion US dollar in September 2014, which was 36.2 percent higher than non-oil imports 21.04 billion US dollar in September 2013.
Non-oil imports during April-September 2014-15 were valued at 151.62 billion US dollar which was 0.8 percent higher than the level of such imports valued at 150.46 billion US dollar in April-September 2013-14.