India Joins Asia’s Bilateral Trade Slowdown, Oil Not To Blame — Panjiva


India Joins Asia’s Bilateral Trade Slowdown, Oil Not To Blame

India 284 Tariffs 1175 Trade Balance 658

India’s bilateral trade dropped 1.3% year over year in December, joining China and South Korea in suffering a sudden slowdown. The main driver was a 2.4% slide in imports, the first since Sept. 2016. Oil prices were not to blame after oil and refined product imports rose 3.1%. Imports ex oil fell 4.2% though imports of machinery and equipment – the main target for “Make in India” domestic manufacturing tariffs – actually rose by 8.4%. There is the potential for a short-term cut in tariffs as a reflationary measure ahead of the elections. However, the continued growth in...

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