Recovering from the last month's decline of 0.66%, India's merchandise exports jumped 5.17% in the month of April 2018, primarily with the help of double digit growth in shipment of engineering, chemicals and pharmaceutical segments. However, trade deficit widened slightly to $13.72 billion in April from $13.25 billion a year ago. Besides, overall trade deficit, taking merchandise and services together, for April-March 2017-18 is estimated at $80.61 billion as compared to $41.79 billion during April-March 2016-17. Imports too grew by 4.60% Year-on-Year basis in the first month of current fiscal year.
As per the data released by the Commerce Ministry, exports grew by 5.17% to $25.91 billion in April 2018, as compared to $24.64 billion in the same month a year ago. In Rupee terms, exports surged by 7.01% to Rs 170052.96 crore in April 2018, as compared to Rs 158913.79 crore in April 2017. Non-petroleum and Non Gems & Jewellery exports in April 2018 were valued at $19.80 billion as against $17.72 billion in April 2017, an increase of 11.73%.
Imports during April 2018, increased by 4.60% to $39.63 billion as compared to $37.88 billion in April 2017, while in rupee terms it was up by 6.43% to Rs 260084.67 crore from Rs 244380.52 crore in April 2017. Oil imports during April 2018 were valued at $10.41 billion which was 41.49% higher than oil imports valued at $7.36 billion in April 2017. Non-oil imports during April 2018 were estimated at $29.21 billion which was 4.30% lower than non-oil imports of $30.53 billion in April 2017.