Trade deficit widened to ~USD15.2bn in Feb from ~USD14.7bn in Jan.; Edelweiss PDF link

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Trade deficit widened to ~USD15.2bn in Feb from ~USD14.7bn in Jan. Exports growth has slowed down to average 7% YoY in the past 3-4 months against ~45% YoY in Apr-Oct. However, adjusting for base effect and seasonality, exports momentum has actually improved since late last year, corroborating the trend in other indicators (PMI, IIP, etc).  Imports, meanwhile, have been buoyant on account of high crude oil prices and heavy gold imports. On full year basis (FY12), we expect trade deficit to be ~ USD180bn, leading to current account deficit of ~ 3.8% of GDP.

External Trade - Deficit high on gold imports

Regards,