India’s imports for July 2017 post an increase of 10.70%

As per data available, India’s imports increased by 10.70% to USD 33,993.61 million (Rs 2,19,108.89 crore) during July 2017 as compared to the July 2016 figure of USD 29,450.97 million (Rs 1,97,932.93 crore).
 
The cumulative value of imports for the period April-July 2017-18 was USD 1,46,256.71 million (Rs 9,42,740.00 crore) as against USD 1,13,996.75 million (Rs 7,63,687.22 crore), registering a positive growth of 28.30% in dollar terms and 23.45% in rupee terms over the same period last year.
 
The items that showed high growth in terms of imports in July 2017 as against the same month last year include petroleum, crude and products (15.02%), electronic goods (22.5%), machinery, electrical and non-electrical goods (7.34%), pearls, precious and semi-precious stones (6.86%), and gold (95.05%).
 
Oil imports during July 2017 were valued at USD 7,844.94 million, 15.02% higher than oil imports valued at USD 6,820.34 million in July 2016. Oil imports during April-July 2017-18 were valued at USD 31,022.43 million, 20.87% higher than the oil imports of USD 25,666.96 million in the corresponding period last year.
 
The global Brent prices (dollar per barrel) have increased by 8.03% in July 2017 as against July 2016, as per the commodity price data released by the World Bank.

Non-oil imports during July 2017 were estimated at USD 26,148.67 million, 15.55 % higher than non-oil imports of USD 22,630.63 million in July 2016. Non-oil imports during April-July 2017-18 were valued at USD 1,15,234.28 million, 30.46% higher than USD 88,329.79 million in April-July 2016-17.