Another worry for Indian Economy as the country’s exports dipped 1.8 per cent to $27.36 billion in December 2019, according to government data.
Exports in December 2019 were USD27.36 billion, as compared to USD27.86 billion in December 2018, exhibiting a negative growth of (-)1.80 per cent. In Rupee terms, exports were Rs. 1,94,764.74 crore in December 2019, as compared to Rs. 1,97,044.76 crore in December 2018, registering a negative growth of (-)1.16 per cent.
India’s overall exports (Merchandise and Services combined) in April-December2019-20* are estimated to be USD 397.48 billion, exhibiting a positive growth of 0.93 per cent over the same period last year. Overall imports in April-December 2019-20* are estimated to be USD 455.14 billion, exhibiting a negative growth of (-)5.82 per cent over the same period last year.
*Note: The latest data for services sector released by RBI is for November 2019. The data for December 2019 is an estimation, which will be revised based on RBI’s subsequent release.
Imports in December 2019 were USD38.61 billion (Rs.2,74,883.64 crore), which was 8.83 per cent lower in Dollar terms and 8.24 per cent lower in Rupee terms over imports of USD42.35 billion (Rs.2,99,553.40 crore) in December 2018. Cumulative value of imports for the period April-December 2019-20 was USD357.39 billion (Rs.25,14,783.82 crore), as against USD392.31 billion (Rs.27,37,092.01 crore) during the period April-December 2018-19, registering a negative growth of (-)8.90 per cent in Dollar terms (negative growth of (-)8.12 per cent in Rupee terms).