India’s exports fall 13.6% in January on weak global demand
Imports also posted a larger decrease of 11% on the year to $28.71 billion in January, bringing India’s trade deficit to $7.64 billion in January from $7.87 billion a year earlier. This was led by lower demand for imported crude oil and a decrease in imported commodity prices.
In January, oil imports declined 39% year over year to $5.02 billion while non-oil imports also dipped by 1.4% to $23.68 billion. Overseas shipments of petroleum products slumped 35.18% to $1.95 billion in January while gold imports surged 85.16% to $2.91 billion in January compared with $1.57 billion in the same month of the previous year.
In the April-January period of the current Indian year, exports declined by 17.65% to $217.67 billion compared to $264.32 billion in the same period of the previous financial year while imports slid 15.46% to $324.52 billion. In this period, India’s trade deficit was reported at $106.8 billion.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe