Page 17 - Policy Economic Report_Jan 25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

? The primary contributor of this decline were the foreign currency assets that declined by $2.87 billion
to settle at $533.13 billion.

? Gold reserves saw an increase of $1.06 billion, rising to $68.94 billion during the same week, the
Reserve Bank of India (RBI) reported.

? While the Special Drawing Rights (SDRs) increased by $1 million to $17.78 billion,
the India reserve position with IMF was down by $74 million to $4.12 billion.

India’s foreign trade position
? India’s total exports (Merchandise and Services combined) for December 2024 is estimated at USD

70.67 Billion, registering a growth of 0.92 percent vis-à-vis December 2023.

? Total imports (Merchandise and Services combined) for December 2024 are estimated at USD 77.44
Billion, registering a growth of 6.40 percent vis-à-vis December 2023.

Table 1: Trade during December 2024

December December
2024 2023
(USD
Billion) (USD Billion)

Merchandise Exports 38.01 38.39

Imports 59.95 57.15

Services Exports 32.66 31.63

Imports 17.50 15.63

Overall Trade Exports 70.67 70.02
(Merchandise + Imports 77.44 72.78
Services)

Trade -6.78 -2.76
Balance

Source- Ministry of Commerce & Industry

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