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India’s trade deficit increases 8% y-o-y in March

April 20: India’s trade deficit (merchandise) for the month of March 2015 provisionally increased 7.67% to $11,793.52 million, compared to $10,953.37 million reported in the same month a year ago, on the back of a rise in international oil prices, according to data released by the Ministry of Commerce and Industry.

On a month-on-month basis too, India’s trade deficit for March also widened from $6,846.99 million in February 2015.

The trade deficit for April-March, 2014-15 was estimated at $137,014.46 million which was higher than the deficit of $135,797.90 million during April-March, 2013-14.

Exports, including re-exports, during March, 2015 were valued at $23,951.16 million (Rs 1, 49,574.53 crore) which was 21.06% lower in dollar terms (19.20% lower in rupee terms) than the level of $30,341.04 million (Rs 185,122.83 crore) during March, 2014.

Cumulative value of exports for 2014-15 was $310,533.87 million (Rs 1,897,025.85 crore) as against $314,415.73 million (Rs 1,905,011.08 crore), registering a degrowth of -1.23% in dollar terms and degrowth of -0.42% in rupee terms over the last fiscal.

Imports during March, 2015 were valued at $35,744.68 (Rs 223,224.83 crore) which was 13.44% lower in dollar terms and 11.40% lower in rupee terms over the level of imports valued at $41,294.41 million (Rs 251,953.73 crore) in March, 2014.

The cumulative value of imports for 2014-15 was $447,548.33 million (Rs 2,734,049.06 crore) as against $450,213.63 million (Rs 2,715,433.89 crore), registering a degrowth of -0.59% in dollar terms and growth of 0.69% in rupee terms over last fiscal.