India’s Foreign Trade: January 2018

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India’s Foreign Trade: January 2018

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during January 2018 have exhibited positive growth of 9.07per cent in dollar terms vis-à-vis January 2017. Exports have been on a positive trajectory since August 2016 to January 2018 with a dip of 1.1 per cent in the month of October 2017.


Exports during January 2018valued at US$ 24383.97 million as compared to US$ 22356.32 million during January 2017. In Rupee terms, exports were valued at Rs.155172.00crore as compared to Rs.152202.70crore during January 2017, registering a riseof 1.95per cent.       

During January 2018, Major commodity groups of export showing positive growth over the corresponding month of last year areEngineering Goods (15.77%), Petroleum Products (39.5%), Gems & Jewellery (0.89%), Organic & Inorganic Chemicals (33.6%) and Drugs & Pharmaceuticals (8.6%).

Cumulative value of exports for the period April-January 2017-18 was US$247896.55 million (Rs1596591.91crore) as against US $221823.46million (Rs1490544.21 crore) registering a positive growth of 11.75 per cent in Dollar terms and 7.11 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in January 2018 were valued at US$ 17523.24 million as against US$ 16607.36 million in January 2017, an increase of 5.51%. Non-petroleum and Non Gems and Jewellery exports during April-January 2017-18 were valued at US$ 181238.18 million as compared to US$ 161281.88 million for the corresponding period in 2016-17, an increase of 12.37%.

IMPORTS

Imports during January 2018 were valued at US$ 40682.44 million (Rs258890.43 crore) which was 26.10 per cent higher in Dollar terms and 17.87 per cent higher in Rupee terms over the level of imports valued at US$ 32261.14 million (Rs. 219635.13 crore) in January 2017. Cumulative value of imports for the period April-January 2017-18 was US$ 379052.07million (Rs. 2441180.27 crore) as against US$ 310160.46 million (Rs. 2084786.99crore) registering a positive growth of 22.21 per cent in Dollar terms and 17.09per cent in Rupee terms over the same period last year.



Major commodity groups of import showing high growth in January 2018 over the corresponding month of last year are Petroleum, Crude & products (42.64%), Electronic goods (12.19%), Machinery, electrical & non-electrical (29.11%), Pearls, precious & Semi-precious stones (55.71%) and Coal, Coke & Briquettes, etc. (31.67%).

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during January 2018 were valued at US$ 11659.07million which was 42.64percent higher than oil imports valued at US$ 8173.96million in January 2017.Oil imports during April-January 2017-18 were valued at US$ 87807.92 million which was 26.35per cent higher than the oil imports of US$ 69493.68 million in the corresponding period last year.

In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 25.69% in January 2018 vis-à-vis January 2017 as per World Bank commodity price data (The pink sheet).

Non-oil imports during January 2018 were estimated at US$ 29023.37 million which was 20.49 per cent higher than non-oil imports of US$ 24087.18 million in January 2017 Non-oil imports during April-January 2017-18 were valued at US$ 291244.15 million which was 21.02 per cent higher than the level of such imports valued at US$ 240666.78 million in April-January, 2016-17.

II. TRADE IN SERVICES (for December, 2017, as per the RBI Press Release dated 15th February 2018)

EXPORTS (Receipts)

Exports during December2017 were valued at US$ 16,005million (Rs. 102819.83Crore) registering apositive growth of 3.98per cent in dollar terms as compared to positive growth of 8.76per cent during November2017 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during December2017 were valued at US$ 9,859million (Rs. 63336.50Crore) registering a positivegrowth of 2.20per cent in dollar terms as compared topositive growth of 10.89per cent during November2017 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for January 2018 was estimated at US$ 16298.47millionas against the deficit of US$ 9904.82million during January 2017.

SERVICES: As per RBI’s Press Release dated 15th February 2018, the trade balance in Services (i.e. net export of Services) for December, 2017 was estimated at US$ 6,146million.

OVERALL TRADE BALANCE:Taking merchandise and services together, overall trade deficit for April-January 2017-18 is estimated at US$ 80215.52million as compared to US$ 40021.00million during April-January 2016-17. (Services data pertains to April-December2017-18 as December2017 is the latest data available as per RBI’s Press Release dated 15th February2018)





MERCHANDISE TRADE



EXPORTS & IMPORTS: (US $ Million)

(PROVISIONAL)
JANUARY
APRIL-JANUARY

EXPORTS (including re-exports)


2016-17
22356.32
221823.46
2017-18
24383.97
247896.55
%Growth 2017-18/ 2016-17
9.07
11.75
IMPORTS


2016-17
32261.14
310160.46
2017-18
40682.44
379052.07
%Growth 2017-18/ 2016-17
26.10
22.21
TRADE BALANCE


2016-17
-9904.82
-88337.00
2017-18
-16298.47
-131155.52
EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)

JANUARY
APRIL-JANUARY
EXPORTS(including re-exports)


2016-17
152202.70
1490544.21
2017-18
155172.00
1596591.91
%Growth 2017-18/ 2016-17
1.95
7.11
IMPORTS


2016-17
219635.13
2084786.99
2017-18
258890.43
2441180.27
%Growth 2017-18/ 2016-17
17.87
17.09
TRADE BALANCE


2016-17
-67432.43
-594242.78
2017-18
-103718.43
-844588.37











































SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(Provisional)
December 2017
EXPORTS (Receipts)
16005
IMPORTS (Payments)
9859
TRADE BALANCE
6146
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(Provisional)
December 2017
EXPORTS (Receipts)
102819.83
IMPORTS (Payments)
63336.50
TRADE BALANCE
39483.33
Source: RBI Press Release dated 15th February, 2018


QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018
 TRADE: EXPORT
Sl. No.Commodities
(Values in Rs. crores)
% change
JAN'17
JAN'18
JAN'18
1Tea
426.85
448.93
5.17
2Coffee
353.98
336.20
-5.02
3Rice
3526.19
4211.61
19.44
4Other cereals
166.74
89.77
-46.16
5Tobacco
386.49
503.59
30.30
6Spices
1480.06
1421.30
-3.97
7Cashew
440.15
423.87
-3.70
8Oil Meals
660.94
594.70
-10.02
9Oil seeds
1053.55
537.14
-49.02
10Fruits & Vegetables
1371.80
1426.61
4.00
11Cereal preparations & miscellaneous processed items
623.98
701.71
12.46
12Marine Products
2739.21
3012.14
9.96
13Meat, dairy & poultry products
1863.36
1886.16
1.22
14Iron Ore
1219.24
564.42
-53.71
15Mica, Coal & Other Ores, Minerals including processed minerals
1867.09
2076.12
11.20
16Leather & leather products
2830.84
2795.43
-1.25
17Ceramic products & glassware
983.11
1054.39
7.25
18Gems &Jewellery
20438.90
19274.96
-5.69
19Drugs & Pharmaceuticals
8662.06
8793.40
1.52
20Organic & Inorganic Chemicals
8216.87
10261.48
24.88
21Engineering Goods
37437.27
40511.85
8.21
22Electronic Goods
3168.90
2934.98
-7.38
23Cotton Yarn/Fabs./made-ups, Handloom Products etc.
6354.71
5369.18
-15.51
24Man-made Yarn/Fabs./made-ups etc.
2764.17
2564.23
-7.23
25RMG of all Textiles
10372.82
8883.26
-14.36
26Jute Mfg. including Floor Covering
186.09
180.45
-3.03
27Carpet
808.27
708.26
-12.37
28Handicrafts excl. handmade carpet
981.31
882.13
-10.11
29Petroleum Products
18700.23
24384.55
30.40
30Plastic & Linoleum
3172.23
3862.81
21.77
Sub-Total
143257.41
150695.63
5.19
GRAND   TOTAL
152202.70
155172.00
1.95

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018
TRADE: EXPORT
Sl. No.
Commodities
(Values in Million USD)
% change
JAN'17
JAN'18
JAN'18
1
Tea
62.70
70.55
12.52
2
Coffee
51.99
52.83
1.62
3
Rice
517.94
661.82
27.78
4
Other cereals
24.49
14.11
-42.38
5
Tobacco
56.77
79.13
39.39
6
Spices
217.40
223.35
2.74
7
Cashew
64.65
66.61
3.03
8
Oil Meals
97.08
93.45
-3.74
9
Oil seeds
154.75
84.41
-45.45
10
Fruits & Vegetables
201.50
224.18
11.26
11
Cereal preparations & miscellaneous processed items
91.65
110.27
20.32
12
Marine Products
402.35
473.33
17.64
13
Meat, dairy & poultry products
273.70
296.39
8.29
14
Iron Ore
179.09
88.69
-50.48
15
Mica, Coal & Other Ores, Minerals including processed minerals
274.25
326.24
18.96
16
Leather & leather products
415.81
439.28
5.64
17
Ceramic products & glassware
144.40
165.69
14.74
18
Gems &Jewellery
3002.17
3028.90
0.89
19
Drugs & Pharmaceuticals
1272.33
1381.81
8.60
20
Organic & Inorganic Chemicals
1206.94
1612.50
33.60
21
Engineering Goods
5498.98
6366.09
15.77
22
Electronic Goods
465.46
461.21
-0.91
23
Cotton Yarn/Fabs./made-ups, Handloom Products etc.
933.41
843.72
-9.61
24
Man-made Yarn/Fabs./made-ups etc.
406.02
402.95
-0.76
25
RMG of all Textiles
1523.61
1395.93
-8.38
26
Jute Mfg. including Floor Covering
27.33
28.36
3.77
27
Carpet
118.72
111.30
-6.25
28
Handicrafts excl. handmade carpet
144.14
138.62
-3.83
29
Petroleum Products
2746.79
3831.83
39.50
30
Plastic & Linoleum
465.95
607.01
30.27
Sub-Total
21042.37
23680.56
12.54
GRAND   TOTAL
22356.32
24383.97
9.07

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018
TRADE: IMPORT
Sl. No.
Commodities
(Values in Rs. crores)
% change
JAN'17
JAN'18
JAN'18
1
Cotton Raw & Waste
231.41
198.69
-14.14
2
Vegetable Oil
5594.51
5907.47
5.59
3
Pulses
3175.59
755.96
-76.19
4
Fruits & vegetables
1084.78
1289.83
18.90
5
Pulp and Waste paper
611.57
525.87
-14.01
6
Textile yarn Fabric, made-up articles
806.97
960.13
18.98
7
Fertilisers, Crude & manufactured
1644.24
2819.37
71.47
8
Sulphur& Unroasted Iron Pyrites
74.57
119.29
59.97
9
Metalliferous ores & other minerals
4045.71
6491.49
60.45
10
Coal, Coke & Briquettes, etc.
11378.75
14004.63
23.08
11
Petroleum, Crude & products
55648.68
74194.72
33.33
12
Wood &  Wood products
2462.09
3141.65
27.60
13
Leather & leather products
479.62
532.55
11.04
14
Organic & Inorganic Chemicals
8234.72
11425.26
38.74
15
Dyeing/tanning/colouring materials.
1220.81
1754.62
43.73
16
Artificial resins, plastic materials, etc.
5863.28
7821.83
33.40
17
Chemical material & products
3059.23
4088.89
33.66
18
Newsprint
451.60
289.49
-35.90
19
Pearls, precious & Semi-precious stones
10518.84
15309.91
45.55
20
Iron & Steel
6825.42
8220.34
20.44
21
Non-ferrous metals
5446.24
7257.05
33.25
22
Machine tools
1660.37
2398.56
44.46
23
Machinery, electrical & non-electrical
15849.56
19128.31
20.69
24
Transport equipment
12749.27
12398.78
-2.75
25
Project goods
1190.97
873.33
-26.67
26
Professional instrument, Optical goods, etc.
2075.92
2325.11
12.00
27
Electronic goods
26555.36
27848.56
4.87
28
Medicinal & Pharmaceutical products
2767.31
3023.28
9.25
29
Gold
13890.79
10119.16
-27.15
30
Silver
1334.47
1650.92
23.71
Sub-Total
206932.65
246875.05
19.30
GRAND   TOTAL
219635.13
258890.43
17.87

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change
QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018
TRADE: IMPORT

Sl. No.
Commodities
(Values in Million USD)
% change
JAN'17
JAN'18
JAN'18
1
Cotton Raw & Waste
33.99
31.22
-8.15
2
Vegetable Oil
821.75
928.31
12.97
3
Pulses
466.45
118.79
-74.53
4
Fruits & vegetables
159.34
202.69
27.21
5
Pulp and Waste paper
89.83
82.64
-8.00
6
Textile yarn Fabric, made-up articles
118.53
150.88
27.29
7
Fertilisers, Crude & manufactured
241.51
443.04
83.45
8
Sulphur& Unroasted Iron Pyrites
10.95
18.75
71.23
9
Metalliferous ores & other minerals
594.26
1020.08
71.66
10
Coal, Coke & Briquettes, etc.
1671.37
2200.71
31.67
11
Petroleum, Crude & products
8173.96
11659.07
42.64
12
Wood &  Wood products
361.64
493.68
36.51
13
Leather & leather products
70.45
83.69
18.79
14
Organic & Inorganic Chemicals
1209.56
1795.38
48.43
15
Dyeing/tanning/colouring materials.
179.32
275.72
53.76
16
Artificial resins, plastic materials, etc.
861.23
1229.13
42.72
17
Chemical material & products
449.36
642.53
42.99
18
Newsprint
66.33
45.49
-31.42
19
Pearls, precious & Semi-precious stones
1545.06
2405.82
55.71
20
Iron & Steel
1002.55
1291.76
28.85
21
Non-ferrous metals
799.97
1140.38
42.55
22
Machine tools
243.88
376.91
54.55
23
Machinery, electrical & non-electrical
2328.06
3005.85
29.11
24
Transport equipment
1872.68
1948.36
4.04
25
Project goods
174.94
137.24
-21.55
26
Professional instrument, Optical goods, etc.
304.92
365.37
19.82
27
Electronic goods
3900.59
4376.17
12.19
28
Medicinal & Pharmaceutical products
406.48
475.08
16.88
29
Gold
2040.35
1590.14
-22.07
30
Silver
196.01
259.43
32.36
Sub-Total
30395.32
38794.31
27.63
GRAND   TOTAL
32261.14
40682.44
26.10

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change.

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