INDIA’S FOREIGN TRADE: September, 2016

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INDIA’S FOREIGN TRADE: September, 2016 


             
I. MERCHANDISE TRADE

 EXPORTS (including re-exports)

Exports during September,2016 has shown sign of revival registering a growth of 4.62 per cent in dollar terms (5.45 per cent higher in Rupee terms) valued at US$ 22880.56 million (Rs.152699.59 crore) in September 2016 than the level of US$ 21869.36 million (Rs.144814.06 crore) during September,2015.


Cumulative value of exports for the period April-September 2016-17 was US$ 131400.50 million (Rs.879475.63 crore) as against US$ 133723.24 million (Rs.858622.52 crore) registering a negative growth of 1.74 per cent in Dollar terms and positive growth of 2.43 per cent in Rupee terms
over the same period last year.

Non-petroleum exports in September 2016 are valued at US$ 20330.31 million against US$ 19282.01 million in September 2015, an increase of 5.44%. Non-petroleum exports during April to September 2016 are valued at US$ 117314.05 million as compared to US$ 116767.85 million for the corresponding period in 2015, an increase of 0.47%.

The growth in exports have fallen for USA (-6.42%), EU (-8.39 %), China (-4.36%) but Japan exhibited positive growth (1.92%) for July 2016 over the corresponding period of previous year as per latest WTO statistics.
                                                                                                                                                       
IMPORTS

Imports during September 2016 were valued at US$ 31220.13 million (Rs.208356.00 crore) which was 2.54 per cent lower in Dollar terms and 1.78 per cent lower in Rupee terms over the level of imports valued at US$ 32035.32 million (Rs.212130.85) in September,2015.

Cumulative value of imports for the period April-September 2016-17 was US$ 174409.62 million (Rs.1167458.25 crore) as against US$ 202269.62 million (Rs.1298646.11 crore) registering a negative growth of 13.77 per cent in Dollar terms and 10.10 per cent in Rupee terms over the same period last year.

CRUDE OIL AND NON-OIL IMPORTS:                                  
         
Oil imports during September, 2016 were valued at US$ 6886.36 million which was 3.13 percent higher than oil imports valued at US$ 6677.58 million in the corresponding period last year. Oil imports during April-September, 2016-17 were valued at US$ 39297.17 million which was 18.59 per cent lower than the oil imports of US$ 48271.11 million in the corresponding period last year.

 Non-oil imports during September, 2016 were estimated at US$ 24333.77 million which was 4.04 per cent lower than non-oil imports of US$ 25357.74 million in September, 2015. Non-oil imports during April-September 2016-17 were valued at US$ 135112.45 million which was 12.26 per cent
 lower than the level of such imports valued at US$ 153998.51 million in April-September, 2015-16.

II. TRADE IN SERVICES (for August, 2016, as per the RBI Press Release dated 14thOctober 2016)

EXPORTS (Receipts)

Exports during August 2016 were valued at US$ 13381 Million (Rs.89571.88 Crore) registering a positive growth of 4.74 per cent in dollar  terms as compared to negative growth of 4.11 per cent during July 2016 (as per RBI’s Press Release for the respective months).

 IMPORTS (Payments)

Imports during August 2016 were valued at US$ 8054 Million (Rs. 53913.15 Crore) registering a positive growth of 8.71 per cent in dollar terms as compared to negative growth of 11.68 per cent during July 2016 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for April-September, 2016-17 was estimated at US$ 43009.12 million which was 37.26 % lower than the  deficit of US$ 68546.38 million during April-September, 2015-16.

 SERVICES: As per RBI’s Press Release dated 14th October 2016, the trade balance in Services (i.e. net export of Services) for August, 2016 was estimated at US$ 5327 million. The net export of services for April- August, 2016-17 was estimated at US$ 26889 million which is lower  than net export of services of US$ 28178 million during April- August, 2015-16. (The data for April-August 2015-16 and 2016-17 has been  derived by adding April-August month wise QE data of RBI Press Release).                                        


OVERALL TRADE BALANCE: Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit  for April- September 2016-17 is estimated at US$ 16120.12 million which is 60.07 percent lower in Dollar terms than the level of US$ 40368.38  million during April-September 2015-16. (Services data pertains to April-August 2016 as August 2016 is the latest data available as per RBI’s Press Release dated 14th October 2016)

MERCHANDISE TRADE


(PROVISIONAL)



SEPTEMBER
APRIL-SEPTEMBER
EXPORTS(including re-exports)


2015-16
21869.36
133723.24
2016-17
22880.56
131400.50
%Growth2016-17/ 2015-16
4.62
-1.74
IMPORTS


2015-16
32035.32
202269.62
2016-17
31220.13
174409.62
%Growth2016-17/ 2015-16
-2.54
-13.77
TRADE BALANCE


2015-16
-10165.96
-68546.38
2016-17
-8339.57
-43009.12



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


SEPTEMBER
APRIL-SEPTEMBER
EXPORTS(including re-exports)


2015-16
144814.06
858622.52
2016-17
152699.59
879475.63
%Growth2016-17/ 2015-16
5.45
2.43
IMPORTS


2015-16
212130.85
1298646.11
2016-17
208356.00
1167458.25
%Growth2016-17/ 2015-16
-1.78
-10.10
TRADE BALANCE


2015-16
-67316.79
-440023.59
2016-17
-55656.41
-287982.62


SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(PROVISIONAL)
August 2016-17
EXPORTS (Receipts)
13381.00
IMPORTS (Payments)
8054.00
TRADE BALANCE
5327.00


EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)
August 2016-17
EXPORTS (Receipts)
89571.88
IMPORTS (Payments)
53913.15
TRADE BALANCE
35658.72
Source: RBI Press Release dated 14th October 2016


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