India's strong export growth continues with 20% rise in April

Exports from India grew to $24.63 billion in Apri 2017 growing by nearly 20% in comparison the same month last year.

India's strong export growth continues with 20% rise in April
A ship carrying cargo exported out of India. Photo: Pixabay
By IANS
Updated: Mon, May 15, 2017
07:12 pm
New Delhi, IANS
RELATED NEWS
Strong Rupee unlikely to impact Indian exports this time around Strong Rupee unlikely to impact Indian exports this time around
Saudi Arabia's crude exports to US to fall by 300,000 barrels per day in March: Official Saudi Arabia's crude exports to US to fall by 300,000 barrels per day in March: Official
India’s exports rise over 17%, first double digit growth in two years India’s exports rise over 17%, first double digit growth in two years
Exports prop up Japan Q4 GDP growth, U.S. protectionist risks loom Exports prop up Japan Q4 GDP growth, U.S. protectionist risks loom

Key highlights:

  • Exports grew for the eighth straight month
  • India's exports grew by 19.77%
  • Imports also increased significantly during April

India's exports revival continued for the eighth straight month, recording 19.77% growth during April 2017, official data showed on Monday.

According to data released by the Ministry of Commerce and Industry, exports grew by 19.77% to $24.63 billion from $20.56 billion worth of merchandise shipped out during April 2016.

"In continuation with the double-digit growth exhibited by exports during March 2017, exports during April 2017 have shown growth of 19.77% in dollar terms valued at $24,635.09 million as compared to $20,568.85 million during April 2016," the ministry said in a statement.

"Non-petroleum and non- gems and jewellery exports in April 2017 were valued at $17,718.87 million against $15,136.41 million in April 2016 -- an increase of 17.06%."

However, the country's imports during the month under review increased by 49.07% to $37.88 billion.