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INDIA’S FOREIGN TRADE: JANUARY, 2016




 F. No. 1(12)/2015-EPL
Government of India
Ministry of Commerce & Industry
Department of Commerce
Economic Division

….
New Delhi, Dated 15th February, 2016
PRESS RELEASE
INDIA’S FOREIGN TRADE: JANUARY, 2016
I. MERCHANDISE TRADE
EXPORTS (including re-exports)
Exports during January, 2016 were valued at US$ 21075.57 million (Rs. 141738.07crore) which was 13.60 per cent lower in Dollar terms (6.62 per cent lower in Rupee terms) than the level of US$ 24393.58 million (Rs. 151791.26 crore) during January, 2015. Cumulative value of exports for the period April-January 2015-16 was US$ 217679.51million (Rs. 1415061.06 crore) as against US$ 264322.49 million (Rs. 1609885.66 crore) registering a negative growth of 17.65 per cent in Dollar terms and 12.10 per cent in Rupee terms over the same period last year.
Non-petroleum exports in January 2016 are valued at US$ 19116.04 million against US$ 21370.62 million in January 2015, a reduction of 10.55%. Non-petroleum exports during April to January 2016 are valued at US$ 192407.64 million as compared to US$ 212729.94 million for the corresponding period in 2015, a reduction of 9.6%.
The trend of falling exports is in tandem with other major world economies. The growth in exports have fallen for USA (10.51%), European Union (9.48%) and China (7.01%) for November 2015 over the corresponding period previous year as per WTO statistics.
IMPORTS
Imports during January, 2016 were valued at US$ 28714.50 million (Rs. 193111.64 crore) which was 11.01 per cent lower in Dollar terms and 3.82 per cent lower in Rupee terms over the level of imports valued at US$ 32265.37 million (Rs. 200774.18 crore) in January, 2015. Cumulative value of imports for the period April-January 2015-16 was US$ 324526.19 million (Rs. 2108961.04 crore) as against US$ 383879.32 million (Rs. 2337629.58 crore) registering a negative growth of 15.46 per cent in Dollar terms and 9.78 per cent in Rupee terms over the same period last year.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during January, 2016 were valued at US$ 5026.41 million which was 39.01 per cent lower than oil imports valued at US$ 8241.18 million in the corresponding period last year. Oil imports during April-January, 2015-16 were valued at US$ 73094.61 million which was 41.43 per cent lower than the oil imports of US$ 124800.66 million in the corresponding period last year.
Non-oil imports during January, 2016 were estimated at US$ 23688.09 million which was 1.40 per cent lower than non-oil imports of US$ 24024.19 million in January, 2015. Non-oil imports during April-January, 2015-16 were valued at US$ 251431.58 million which was 2.95 per cent lower than the level of such imports valued at US$ 259078.66 million in April-January, 2014-15.
II. TRADE IN SERVICES (for December, 2015, as per the RBI Press Release dated 15th February, 2016)
EXPORTS (Receipts)
Exports during December, 2015 were valued at US$ 14038 Million (Rs. 93486.76 Crore).
During December, 2015, on month-on-month basis, growth in services export turned positive (with a growth of 16.80 per cent) as compared to negative growth (-9.93 per cent) during November 2015 (as per RBI’s Press Release for the respective months).
IMPORTS (Payments)
Imports during December, 2015 were valued at US$ 7187 Million (Rs. 47862.19 Crore).
III.TRADE BALANCE
MERCHANDISE: The trade deficit for April-January, 2015-16 was estimated at US$ 106846.68 million which was lower than the deficit of US$ 119556.83 million during April-January, 2014-15.
SERVICES: As per RBI’s Press Release dated 15th February 2016, the trade balance in Services (i.e. net export of Services) for December, 2015 was estimated at US$ 6851 million. The net export of services for April-December, 2015-16 was estimated at US$ 54859.09 million which is lower than net export of services of US$ 56471.16 million during April-December, 2014-15 (The data for April-December 2015-16 has been derived by adding April-September 2015-16 with month wise QE data of RBI Press Release dated 15th February 2016).
OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-January, 2015-16 estimated at US$ 51987.59 million as compared to US$ 63085.67 million over same period last year has fallen by 17.59 per cent (Services data pertains to April-December as December 2015 is the latest data available as per RBI’s Press Release dated 15th February 2016).

MERCHANDISE TRADE



EXPORTS & IMPORTS  : (US $ Million)
(PROVISIONAL)



JANUARY
APRIL-JANUARY
EXPORTS(including re-exports)


2014-15
24393.58
264322.49
2015-16
21075.57
217679.51
%Growth2015-16/ 2014-15
-13.60
-17.65
IMPORTS


2014-15
32265.37
383879.32
2015-16
28714.50
324526.19
%Growth2015-16/ 2014-15
-11.01
-15.46
TRADE BALANCE


2014-15
-7871.79
-119556.83
2015-16
-7638.93
-106846.68



EXPORTS & IMPORTS  : (Rs. Crore)
(PROVISIONAL)


JANUARY
APRIL-JANUARY
EXPORTS(including re-exports)


2014-15
151791.26
1609885.66
2015-16
141738.07
1415061.06
%Growth2015-16/ 2014-15
-6.62
-12.10
IMPORTS


2014-15
200774.18
2337629.58
2015-16
193111.64
2108961.04
%Growth2015-16/ 2014-15
-3.82
-9.78
TRADE BALANCE


2014-15
-48982.92
-727743.92
2015-16
-51373.57
-693899.98







SERVICES TRADE



EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(PROVISIONAL)
December 2015-16
EXPORTS (Receipts)
14038.00
IMPORTS (Payments)
7187.00
TRADE BALANCE
6851.00


EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)
December 2015-16
EXPORTS (Receipts)
93486.76
IMPORTS (Payments)
47862.19
TRADE BALANCE
45624.58
Source: RBI Press Release dated 15th February 2016



************* 
Day 3 of Make In India Week activities go on as planned at the main venue in BKC 
Day 3 of Make In India Week at the MMRDA Grounds in Bandra Kurla Complex in Mumbai is going on as scheduled with enthusiastic participation. The venue is bustling with visitors, exhibitors and participants in various seminars and symposia, undeterred by the accidental fire at Chowpatty last night where a cultural event was being staged.

The main venue of the Make In India Centre is safe and security and fire audit has been reviewed. Maharashtra Chief Minister Shri Devendra Fadnavis had tweeted last night that Make In India events at the main venue would go on as planned.

Union Ministers Shri Ravi Shankar Prasad, Shri Piyush Goyal, Ms. Nirmala Sitharaman and Shri Dharmendra Pradhan are present at the venue attending various sectoral seminars being held at the Make In India Centre. Defence Minister Shri Manohar Parrikar is scheduled to visit the Make In India Expo and the DRDO Pavilion in the afternoon.

The ongoing Maharashtra Investment Summit has drawn record crowds of industrialists and as many as 10 MoUs are likely to be signed during the day. Around 12,000 visitors have walked in the venue to participate in various events of the Make In India Week. 

************
Index Numbers of Wholesale Price in India (Base: 2004-05=100) Review for the month of January, 2016 


The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of January, 2016 declined by 1.0 percent to 175.7 (provisional) from 177.4 (provisional) for the previous month.

INFLATION

The annual rate of inflation, based on monthly WPI, stood at -0.90% (provisional) for the month of January, 2016 (over January, 2015) as compared to -0.73% (provisional) for the previous month and -0.95% during the corresponding month of the previous year.  Build up inflation rate in the financial year so far was -0.23% compared to a build up rate of -1.66% in the corresponding period of the previous year.

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II.
The movement of the index for the various commodity groups is summarized below:-

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group declined by 1.7 percent to 253.3 (provisional) from 257.8 (provisional) for the previous month.  The groups and items which showed variations during the month are as follows:-

The index for  'Food Articles'  group declined by 1.9 percent to 267.6 (provisional) from 272.7 (provisional) for the previous month due to lower price of fruits & vegetables (6%), jowar (4%), arhar (3%), condiments & spices, urad and gram (2% each) and poultry chicken, moong, masur, coffee and rice (1% each).  However, the price of egg and bajra (3% each), tea,      ragi, beef & buffalo meat and barley (2% each) and pork and fish-inland (1% each) moved up.

The index for 'Non-Food Articles' group rose by 0.3 percent to 224.5 (provisional) from 223.9 (provisional) for the previous month due to higher price of mesta (12%), flowers (9%), raw jute and raw silk (7% each), raw wool (6%), cotton seed (4%), raw cotton (2 %) and gingelly seed (sesamum) (1%).  However, the price of copra (coconut) (8%), castor seed (7%), niger seed (6%), raw rubber (5%), coir fibre (3%), linseed, soyabean, rape & mustard seed and fodder (2% each) and sunflower (1%) declined.

The index for 'Minerals' group declined by 6.2 percent to 199.2 (provisional) from 212.3 (provisional) for the previous month due to lower price of crude petroleum, iron ore  and  limestone (7% each), manganese ore (6%), copper ore (5%) and      zinc concentrate (3%).  However, the price of magnesite (13%), chromite (4%), phosphorite (3%) and sillimanite (1%) moved up.

FUEL & POWER (Weight 14.91%)

The index for this major group declined by 2.9 percent to 171.6 (provisional) from 176.8 (provisional) for the previous month due to lower price of furnace oil (18%), aviation turbine fuel (12%), bitumen (9%), high speed diesel (4%), petrol (2%) and kerosene (1%).  However, the price of LPG (1%) moved up.

MANUFACTURED PRODUCTS (Weight 64.97%)

The index for this major group rose by 0.1 percent to 152.7 (provisional) from 152.6 (provisional) for the previous month. The groups and items for which the index showed variations during the month are as follows:-

The index for 'Food Products' group rose by 0.7 percent to 176.7 (provisional) from 175.4 (provisional) for the previous month due to higher price of sugar (5%), mixed spices and oil cakes (3% each), cotton seed oil and khandsari (2% each) and     sooji (rawa), processed prawn, gola (cattle feed), sunflower oil, gingelly oil and gram powder (besan) (1% each).  However, the price of vanaspati (5%), tea leaf (unblended) and coffee powder (4% each), tea leaf (blended) (3%), mustard & rapeseed oil, copra oil and rice bran oil (2% each) and bakery products, groundnut oil, powder milk and gur (1% each) declined.

The index for 'Beverages, Tobacco & Tobacco Products' group rose by 0.6 percent to 206.4 (provisional) from 205.2 (provisional) for the previous month due to higher price of zarda (11%) and dried tobacco and cigarette (1% each).

The index for 'Textiles' group declined by 0.2 percent to 139.4 (provisional) from 139.7 (provisional) for the previous month due to lower price of tyre cord fabric (4%) and man made fabric, cotton yarn and man made fibre (1% each).  However, the price of jute sacking bag (4%), gunny and hessian cloth and jute sacking cloth (2% each) and woollen textiles (1%) moved up.

The index for 'Wood & Wood Products' group declined by 0.6 percent to 195.3 (provisional) from 196.4 (provisional) for the previous month due to lower price of plywood & fibre board (1%).

The index for 'Paper & Paper Products' group rose by 0.5 percent to 155.7 (provisional) from 154.9 (provisional) for the previous month due to higher price of books/ periodicals/ journals and corrugated sheet boxes (2% each) and card board (1 %). However, the price of paper cartons / boxes (2%) declined.

The index for 'Leather & Leather Products' group rose by 0.3 percent to 144.8 (provisional) from 144.4 (provisional) for the previous month due to higher price of leathers (1%).

The index for 'Rubber & Plastic Products' group declined by 0.4 percent to 145.2 (provisional) from 145.8 (provisional) for the previous month due to lower price of  rubber transmission belt (3%), dot pen with refill, polyester film, hdpe bag and reclaimed rubber (2% each) and rigid pvc, plastic films & sheets, plastic/pvc shoes, plastic/pvc chappals, hdpe  woven fabric, rubber components & parts and other rubber products (1% each). However, the price of plastic components / accessories (2%) and hdpe woven sacks and seamless tubes & pipes (1% each) moved up.

The index for 'Chemicals & Chemical Products' group declined by 0.1 percent to 149.7 (provisional) from 149.9 (provisional) for the previous month due to lower price of non-cyclic compound (7%), lacquer & varnishes (4%) and      ammonium sulphate and turpentine oil (1% each).  However, the price of synthetic resin (3%) and pesticides, organic manure and vitamins (1% each) moved up.

The index for 'Non-Metallic Mineral Products' group rose by 0.6 percent to 178.6 (provisional) from 177.5 (provisional) for the previous month due to higher price of marbles (9%) and grey cement (1%).  However, the price of polished granite (2%) and lime and railway sleeper (1% each) declined.

The index for 'Basic Metals, Alloys & Metal Products' group declined by 0.5 percent to 149.6 (provisional) from 150.3 (provisional) for the previous month due to lower price of pipes/tubes/rods/strips (6%), zinc, sheets and CRC (3% each),     HRC and gp/gc sheets (2% each) and steel structures, ferro silicon, plates, steel: pipes & tubes, ferro manganese,  aluminium, wire rods, rounds, steel castings and pig iron (1% each).  However, the price of billets and pencil ingots (3% each) and angles, rebars, sponge iron, joist & beams and steel rods (1% each) moved up.

The index for 'Transport, Equipment & Parts' group rose by 0.1 percent to 138.2 (provisional) from 138.0 (provisional) for the previous month due to higher price of railway brake gear (1%).

FINAL INDEX FOR THE MONTH OF NOVEMBER, 2015 (BASE YEAR: 2004-05=100)

For the month of November, 2015, the final Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) stood at 177.5 as compared to 177.6 (provisional) and annual rate of inflation based on final index stood at -2.04 percent as compared to -1.99 percent (provisional) respectively as reported on 14.12.2015.


Next date of press release: 14/03/2016 for the month of February, 2016
Office of Economic Adviser, Ministry of Commerce & Industry, New Delhi,
This press release is available at our home page http://eaindustry.nic.in

Annexure-I

Wholesale Price Index and Rates of Inflation (Base Year: 2004-05=100)






Month of January, 2016

Month of January, 2016

Commodities/Major Groups/Groups/Sub-Groups
Weight
WPI Jan- 2016
Latest month over month
Build up from March
Year on year
2014-15
2015-16
2014-15
2015-16
2014-15
2015-16
ALL COMMODITIES
100.00000
175.7
-0.78
-0.96
-1.66
-0.23
-0.95
-0.90
PRIMARY ARTICLES
20.11815
253.3
-0.94
-1.75
1.13
5.98
1.38
4.63
Food Articles
14.33709
267.6
0.12
-1.87
7.59
7.34
8.00
6.02
Cereals
3.37323
236.7
0.21
-0.17
1.17
2.42
1.70
1.24
Rice
1.79348
235.9
-0.46
-0.59
3.06
0.98
4.00
-1.38
Wheat
1.11595
223.5
0.88
0.36
-0.69
3.71
-1.63
3.19
Pulses
0.71662
370.1
5.10
-2.14
12.17
43.56
12.56
44.91
Vegetables
1.73553
289.4
-2.61
-9.11
29.64
33.49
18.63
12.52
Potato
0.20150
151.5
-32.06
-13.33
-5.14
0.20
-8.01
-17.08
Onion
0.17794
348.4
-4.46
-19.98
35.55
4.78
-3.34
5.51
Fruits
2.10717
231.2
0.59
-2.49
9.28
-5.17
16.95
-2.32
Milk
3.23818
250.8
0.32
-0.04
7.48
1.42
9.57
1.42
Egg, Meat & Fish
2.41384
297.3
-0.39
0.24
-0.50
2.48
-1.26
5.69
Non-Food Articles
4.25756
224.5
-0.24
0.27
-4.73
10.81
-4.16
8.24
Fibres
0.87737
213.7
-2.41
2.74
-16.86
10.50
-19.06
7.77
Oil Seeds
1.78051
215.3
0.79
-1.19
-1.79
5.33
0.54
5.90
Minerals
1.52350
199.2
-11.35
-6.17
-29.70
-18.13
-30.42
-17.99
FUEL & POWER
14.91021
171.6
-2.88
-2.94
-11.76
-8.72
-11.02
-9.21
Liquefied petroleum gas
0.91468
164.4
-0.30
0.92
-5.72
1.04
-7.65
-1.32
Petrol
1.09015
154.7
-4.33
-1.65
-18.54
-6.30
-17.43
-5.32
High speed diesel
4.67020
175.1
-4.79
-3.63
-13.19
-13.83
-11.43
-12.76
MANUFACTURED PRODUCTS
64.97164
152.7
-0.13
0.07
0.19
-0.78
1.05
-1.17
Food Products
9.97396
176.7
-0.06
0.74
1.66
3.88
2.02
2.79
Sugar
1.73731
178.4
-1.94
5.06
-1.04
2.23
-1.63
-1.71
Edible Oils
3.04293
149.6
2.30
-1.25
0.00
3.31
-0.41
2.12
Beverages, Tobacco & Tobacco Product
1.76247
206.4
-0.10
0.58
3.12
1.57
3.91
2.28
Cotton Textiles
2.60526
154.9
-0.25
-0.39
-3.76
-1.78
-0.63
-2.39
Man Made Textiles
2.20573
129.4
-1.71
-0.61
-1.85
-2.41
-1.49
-2.34
Wood & Wood Products
0.58744
195.3
0.11
-0.56
1.01
2.95
4.24
3.17
Paper & Paper Products
2.03350
155.7
0.13
0.52
2.51
1.83
3.70
2.91
Leather & Leather Products
0.83509
144.8
-1.18
0.28
-2.33
1.76
-1.25
1.54
Rubber & Plastic Products
2.98697
145.2
-0.60
-0.41
-0.93
-2.09
0.13
-2.22
Chemicals & Chemical Products
12.01770
149.7
-0.59
-0.13
-0.72
-0.80
0.46
-1.19
Non-Metallic Mineral Products
2.55597
178.6
0.75
0.62
4.42
-0.06
5.23
2.12
Cement & Lime
1.38646
174.5
1.48
0.52
4.63
-1.80
4.44
1.63
Basic Metals Alloys & Metal Product
10.74785
149.6
-0.06
-0.47
-1.79
-7.60
-0.96
-9.11
Iron & Semis
1.56301
133.4
-0.13
1.21
-3.65
-10.41
-2.42
-12.87
Machinery & Machine Tools
8.93148
134.9
0.52
0.00
1.58
-0.07
2.19
-0.30
Transport Equipment & Parts
5.21282
138.2
0.66
0.14
0.81
0.66
0.81
0.95

Annexure-II
 
Trend of Rate of Inflation for some important items during last six months

Commodities/Major Groups/Groups/Sub-Groups
Weight (%)
Rate of Inflation for the last six months
Jan-16
Dec-15
Nov-15
Oct-15
Sept-15
August-15
100.00
-0.90
-0.73
-2.04
-3.70
-4.59
-5.06
PRIMARY ARTICLES
20.12
4.63
5.48
2.15
0.04
-2.29
-4.21
Food Articles
14.34
6.02
8.17
5.55
3.33
0.84
-1.02
Cereals
3.37
1.24
1.63
0.51
-0.13
-1.02
-1.98
Rice
1.79
-1.38
-1.25
-3.26
-3.40
-3.76
-3.89
Wheat
1.12
3.19
3.73
4.44
4.58
3.29
2.09
Pulses
0.72
44.91
55.64
58.09
53.06
38.94
36.49
Vegetables
1.74
12.52
20.56
13.25
3.17
-8.60
-20.03
Potato
0.20
-17.08
-34.99
-52.87
-58.10
-57.98
-51.76
Onion
0.18
5.51
25.98
44.51
89.52
120.69
74.44
Fruits
2.11
-2.32
0.76
-2.59
-4.46
-5.15
-1.42
Milk
3.24
1.42
1.78
1.58
1.75
2.16
2.08
Egg, Meat & Fish
2.41
5.69
5.03
0.49
0.46
2.02
3.30
Non-Food Articles
4.26
8.24
7.70
6.33
5.10
2.70
-0.46
Fibres
0.88
7.77
2.36
0.10
-2.20
-6.86
-9.09
Oil Seeds
1.78
5.90
8.03
6.97
6.66
2.50
-2.20
Minerals
1.52
-17.99
-22.52
-32.95
-33.64
-34.27
-34.35
FUEL & POWER
14.91
-9.21
-9.15
-10.99
-16.32
-17.71
-16.21
Liquefied petroleum gas
0.91
-1.32
-2.51
-5.74
-5.83
-5.45
-5.32
Petrol
1.09
-5.32
-7.90
-9.36
-13.16
-14.78
-13.82
High speed diesel
4.67
-12.76
-13.80
-16.69
-26.21
-28.10
-25.37
MANUFACTURED PRODUCTS
64.97
-1.17
-1.36
-1.42
-1.67
-1.73
-1.99
Food Products
9.97
2.79
1.98
1.10
0.46
-0.69
-2.11
Sugar
1.74
-1.71
-8.27
-11.22
-13.08
-16.45
-18.44
Edible Oils
3.04
2.12
5.80
4.66
4.74
3.35
1.17
Beverages, Tobacco & Tobacco Product
1.76
2.28
1.58
2.23
2.29
2.13
2.13
Cotton Textiles
2.61
-2.39
-2.26
-3.18
-4.00
-4.52
-5.02
Man Made Textiles
2.21
-2.34
-3.41
-4.26
-5.09
-4.91
-3.49
Wood & Wood Products
0.59
3.17
3.86
4.86
4.81
3.91
4.36
Paper & Paper Products
2.03
2.91
2.51
2.38
2.31
2.72
3.00
Leather & Leather Products
0.84
1.54
0.07
-1.16
-1.37
-0.95
-0.75
Rubber & Plastic Products
2.99
-2.22
-2.41
-2.60
-2.78
-2.71
-1.85
Chemicals & Chemical Products
12.02
-1.19
-1.64
-2.02
-1.83
-1.89
-1.88
Non-Metallic Mineral Products
2.56
2.12
2.25
2.28
0.45
1.26
2.75
Cement & Lime
1.39
1.63
2.60
3.22
-0.12
1.04
2.51
Basic Metals Alloys & Metal Product
10.75
-9.11
-8.74
-8.00
-7.50
-6.74
-7.50
Iron & Semis
1.56
-12.87
-14.02
-13.67
-12.96
-10.90
-12.31
Machinery & Machine Tools
8.93
-0.30
0.22
0.15
0.00
0.07
0.30
Transport Equipment & Parts
5.21
0.95
1.47
1.62
1.32
1.25
1.10


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