- MERCHANDISE TRADE
EXPORTS (including re-exports)
In consonance with the revival exhibited by exports last month, during October 2016 exports have shown a positive growth of 9.59% in Dollar terms (12.43% higher in Rupee term). During October,2016 exports were valued at US$ 23512.70 million (Rs.156941.86 crore) as compared to US$ 21456.11 million (Rs.139589.17 crore) during October,2015. Cumulative value of exports for the period April-October 2016-17 was US$ 154913.20 million (Rs.1036417.49 crore) as against US$ 155179.35 million (Rs.998211.69 crore) in October 2015-16, registering a negative growth of 0.17 per cent in Dollar terms and positive growth of 3.83 per cent in Rupee terms.
Non-petroleum exports in October 2016 are valued at US$ 20797.13 million against US$ 18923.83 million in October 2015, an increase of 9.9 %. Non-petroleum exports during April to October 2016 are valued at US$ 138111.18 million as compared to US$ 135691.68 million for the corresponding period in 2015, an increase of 1.8%.
The growth in exports for USA (0.20%), EU (5.78%), Japan (10.03%) but China exhibited negative growth (-3.01%) for August 2016 over the corresponding period of previous year as per latest WTO statistics.
Imports during October 2016 were valued at US$ 33673.53 million (Rs.224763.10 crore) which was 8.11 per cent higher in Dollar terms and 10.91 per cent higher in Rupee terms over the level of imports valued at US$ 31148.33 million (Rs.202644.79) in October,2015. Cumulative value of imports for the period April-October 2016-17 was US$ 208083.15 million (Rs.1392221.35 crore) as against US$ 233417.95 million (Rs.1501290.90 crore) registering a negative growth of 10.85 per cent in Dollar terms and 7.27 per cent in Rupee terms over the same period last year.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during October, 2016 were valued at US$ 7141.48 million which was 3.98 percent higher than oil imports valued at US$ 6868.28 million in the corresponding period last year. Oil imports during April-October, 2016-17 were valued at US$ 46438.65 million which was 15.78 per cent lower than the oil imports of US$ 55139.39 million in the corresponding period last year.
Non-oil imports during October, 2016 were estimated at US$ 26532.05 million which was 9.28 per cent higher than non-oil imports of US$ 24280.05 million in October, 2015. Non-oil imports during April-October 2016-17 were valued at US$ 161644.50 million which was 9.33 per cent lower than the level of such imports valued at US$ 178278.56 million in April-October, 2015-16.
- TRADE IN SERVICES (for September, 2016, as per the RBI Press Release dated 15thOctober 2016)
Exports during September 2016 were valued at US$ 13773 Million (Rs. 91917.83 Crore) registering a positive growth of 2.93 per cent in dollar terms as compared to positive growth of 4.74 per cent during August 2016 (as per RBI’s Press Release for the respective months).
Imports during September 2016 were valued at US$ 8,304 Million (Rs. 55418.99 Crore) registering a positive growth of 3.10 per cent in dollar terms as compared to positive growth of 8.71 per cent during August 2016 (as per RBI’s Press Release for the respective months).
MERCHANDISE: The trade deficit for April-October, 2016-17 was estimated at US$ 53169.95 million which was 32.04% lower than the deficit of US$ 78238.60 million during April-October, 2015-16.
SERVICES: As per RBI’s Press Release dated 15th November 2016, the trade balance in Services (i.e. net export of Services) for September, 2016 was estimated at US$ 5,469 million. The net export of services for April- September, 2016-17 was estimated at US$ 32358 million which is lower than net export of services of US$ 34042 million during April- September, 2015-16. (The data for April-September 2015-16 and 2016-17 has been derived by adding April-September 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- October 2016-17 is estimated at US$ 20811.95 million which is 52.91 percent lower in Dollar terms than the level of US$ 44196.60 million during April-October 2015-16. (Services data pertains to April-September 2016 as September 2016 is the latest data available as per RBI’s Press Release dated 15th November 2016)
|EXPORTS & IMPORTS : (US $ Million)|
|EXPORTS & IMPORTS : (Rs. Crore)|
|EXPORTS & IMPORTS (SERVICES) : (US $ Million)|
|EXPORTS & IMPORTS (SERVICES): (Rs. Crore)|
|Source: RBI Press Release dated 15th November 2016|