Page 51 - ie2 August 2019

Table18: Engineering trade ($ million)

2014-15 2015-16 2016-17 2017-18 2018-19 Growth % Apr-Jun 2018 Apr-Jun 2019 Growth %

Engineering export 70661.2 58351.58 65239.19 76199.33 81017.29 6.3 20460.93 20081.98 -1.9

Engineering import 77279.45 75859.72 81834.75 93897.2 104163 10.9 25566.34 24846.99 -2.8

Trade balance -6618.25 -17508.14 -16595.6 -17697.9 -23145.7 -5105.4 -4765.0

*Figures for 2016-17, both for engineering export and import, are updated as per latest Quick Estimate values

Figure6: Trend in monthly engineering trade ($ billion)

120.0
104.2
100.0 93.9
77.3 81.8 81.0
75.9 76.2
80.0 70.7
65.2
$ billion 60.0 58.4

40.0 20.5 25.6 24.8
20.1
20.0
0.0
2014-15 2015-16 2016-17 2017-18 2018-19 April-June 2018 April-June 2019
-20.0

-40.0

Engineering Export Engineering Import Trade Blance

were among the causes of the decline. The ly World Trade Outlook report projected down of the Sterlite factory has affected
impact of protectionist policies adopted by global merchandise exports growth to fall production of copper and consequently
both the EU and US was apprehended to from 3.9 percent in 2018 to 3.7 percent in export of various products. Frequent fluc-
increase cross-dumping in other regions 2019. tuations in the rupee due to the continuing
and create further pressure on Indian ex- Bach home, factors like somewhat high global disputes are also a cause of concern
porters. The impact is already witnessed cost of procuring inputs and high ocean for the exporters. In addition, lack of ade-
in the slowing imports of ferrous and freight rate have been affecting the profit- quate credit flow to the export sector is also
non-ferrous metals. WTO in its quarter- ability of the exporters since months. Shut- leading to fund crisis for the exporters.

AUGUST 2019 l INDIAN ENGINEERING EXPORTS l 51