Exports of petroleum products have fallen because of a higher domestic demand, which could have an impact on the country’s trade deficit and rupee value.
Petroleum products account for over a tenth of the gross value of outbound shipments, analysts said.
The exports had decreased 24.3 per cent during January 2019 and 8.6 per cent during April 2018-January 2019 over the corresponding period of the previous year, latest government data showed.
Analysts said if the current trend continued, it would further weaken the rupee as oil product exports act as a natural hedge against dollar-denominated oil imports.
