New Delhi: India’s total merchandise exports will have witnessing a year-on-year (YoY) growth of 4.2%. Export-Import Bank of India (India Exim Bank) predicted this. As per India Exim Bank, the total merchandise exports will hit $111.7 billion in Q2 (July-September) of FY2025. Non-oil exports are forecast to amount to $ 89.8 billion, with a YoY growth of 6.26. Merchandise exports stood at was $109.11 billion in April-June.
A forecast of growth in India’s total merchandise exports and non-oil exports is released by Exim Bank every quarter, during the first fortnight of May, August, November, and February for the corresponding quarters, based on its Export Leading Index (ELI) model.
Exim Bank has developed an in-house model to generate an Export Leading Index (ELI) for India to track and forecast the movement in India’s exports every quarter.
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The next growth forecast for India’s exports for the 3rd quarter of FY 2025 (i.e. October-December 2024) would be released during the first fortnight of November 2024.
India’s merchandise trade deficit had hit a seven-month high in May. The deficit stood at $20.98 billion in June, down from $23.78 billion in May but slightly higher than the $19.1 billion recorded in April.
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