Rise in petroleum and crude products imports during the first 11 months of 2018-2019 has led to widening of country’s trade deficit to $165.6 billion, highest since 2012-2013.
India’s trade deficit has risen to $165.6 billion in the first 11 months of 2018-19, an increase of about 11 per cent compared to same period of previous financial year.
Indian exports for the period April-Feb, FY19 have reached close to $ 300 billion, indicating a rising trend in the last four years. The exports had declined from $ 286.2 billion in FY15 (during the 11 months) to $ 239.3 billion in FY16.
Imports on the other hand too have increased quite sharply in the last two years after declining during the 11 months of FY16 and FY17. Growth in the imports in the last two years has been 22.8 per cent and 9.8 per cent respectively. The surge in imports has also been higher than that of exports in these two years.