CRUDE OIL IMPORTS ROSE 52.6% TO $147 BN

  • India’s imports of crude oil rose by 52.6% to $146.57 billion during April-November period, according to Commerce Ministry data.
  • Coal and coke imports increased by 97.7% to $37.25 billion in the same period, the data showed.
  • Gold imports, however, dipped by 18.1% to $27.21 billion during the eight-month period.
  • Oher products which recorded double digit growth in imports include electronics, chemicals, transport equipment and vegetable oil. Vegetable oil imports rose by 16.7% to $14.28 billion.
  • In exports, sectors which recorded negative growth in the period include engineering goods (-2%), cotton yarn/fabrics/made-ups (-25.8%) and plastic (-9.66%).
  • Petroleum exports grew by 58.9% to $62.65 billion, while gems and jewellery shipments increased by 2% to $26.45 billion.
  • India’s exports posted marginal growth of 0.59% to $31.99 billion in November, even as the trade deficit widened to $23.89 billion during the month.
  • Briefing reporters on trade data, Additional Secretary in the Commerce Ministry L. Satya Srinivas said the government was regularly monitoring the export performance.

SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB

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