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Exports outpace imports in March
Why is it in the news
- As per the recent official data, India’s exports rose to a five-month high of 11% in March.
- It is on account of higher growth mainly in pharma, chemicals and engineering sectors, marking the outbound shipments at $331 billion for FY 2018-19.
More in the news
- Merchandise exports in March stood at $32.55 billion as against $29.32 billion in the same month last year.
- This is the best growth rate for exports since October 2018, when shipments grew by 17.86%.
- Imports rose by 1.44% to $43.44 billion in March 2019.
- However, trade deficit- the difference between exports and imports narrowed to $10.89 billion during the month under review as compared to $13.51 billion in March 2018.
- Oil and gold imports rose by 5.55% and 31.22% to $11.75 billion and $3.27 billion, respectively in March 2019.
- Oil imports in April-March 2018-19 grew by 29.27% to $140.47 billion, while non-oil imports were up by 2.82% to $366.97 billion during that fiscal.
Source
The Hindu.