Page 85 - ie2 August 2019

Trend in overall IIP and manufacturing growth from April 2017
12.0
IIP
10.0
Manufacturing
8.0
6.0

4.0
2.0

0.0
Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19
-2.0

Source: CSO, EEPC Research

Output growth in engineering sector as measured in IIP
The table above shows the y-o-y production growth of the subsectors of manufacturing that apparently fall under the engineering
sector. During May 2019, three out of six industry groups (as per two-digit NIC-2008) recorded y-o-y decline in output as depicted
in the table. On a cumulative basis during April-May 2019-20, three product groups conceded decline in output over the same period
last fiscal.
Output growth in subsectors of manufacturing that fall under engineering sector
Industry code Description of the segment Weight in IIP (%) Growth y-o-y in May 2019 Growth in Apr-May 2019-20
24 Manufacture of basic metals 12.80 7.6 8.0
25 Manufacture of fabricated metal products, except 2.65 -8.7 -9.6
machinery and equipment
27 Manufacture of electrical equipment 3.00 -2.6 1.0
28 Manufacture of machinery and equipment 4.77 2.3 2.4
29 Manufacture of motor vehicles, trailers and semi-trailers 4.86 -6.2 -5.6
30 Manufacture of other transport equipment 1.78 2.0 -1.0
Source: CSO, MOSPI, Govt of India

Indian foreign trade: June 2019 (Merchandise)

• During June 2019, merchandise ex- conceded 7.52 percent decline in the re- period April-June 2019-20 was $127.04
ports from India declined for the first porting month. billion as against $127.41 billion during
time in fiscal 2019-20 on a y-o-y basis. • Cumulative merchandise exports dur- the period of April-June 2018-19, regis-
After registering 0.64 percent and 3.93 ing April-June 2019-20 were $81.08 bil- tering a negative growth of 0.29 percent.
percent growth in the first two months lion, which was 1.69 percent lower than • The trade deficit in June 2019 nar-
of this fiscal respectively, the month of the $82.47 billion of exports recorded rowed down by 8 percent to $15.28 bil-
June 2019 saw 9.71 percent decline in In- during the same period last fiscal.
dia’s merchandise exports over the same • Imports in June 2019 were $40.29 bil- lion from $16.6 billion in June 2018. On
month last fiscal. During the month, lion, which was 9.06 percent lower in dol- a cumulative basis, trade deficit mounted
merchandise export was at $25.01 billion lar terms over imports of $44.3 billion in by 2.3 percent to $45.96 billion in April-
as against $27.7 billion in June 2018. In June 2018. June 2019-20 from $44.94 billion during
rupee terms also, merchandise exports • Cumulative value of imports for the the same period last fiscal.

AUGUST 2019 l INDIAN ENGINEERING EXPORTS l 85