INDIA’S FOREIGN TRADE: December, 2016

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

In consonance with the revival exhibited by exports in the last three months, during December,2016 exports continue to show a positive growth of 5.72 per cent in dollar terms (valued at US$ 23884.97 million) and 7.79 per cent in Rupee terms (valued at ₹ 162179.89 crore) as compared to US$ 22593.35 million (Rs. 150461.57 crore) during December,2015.

Cumulative value of exports for the period April-December 2016-17 was US$ 198807.75 million (Rs. 1333913.57 crore) as against US$ 197333.62 million (Rs. 1278004.37 crore) registering a positive growth of 0.75 per cent in Dollar terms and positive growth of 4.37 per cent in Rupee terms over the same period last year.

Non-petroleum exports in December 2016 were valued at US$ 21117.73 million against US$ 20036.19 million in December 2015, an increase of 5.4 %. Non-petroleum exports during April - December 2016-17 were valued at US$ 176831.24 million as compared to US$ 172960.12 million for the corresponding period in 2015, an increase of 2.2%.

The growth in exports is negative for USA (-1.21%),China(-7.45%) and EU(-6.27%) but exhibited positive growth in case of Japan(3.79%) for October 2016 over the corresponding period of previous year as per latest WTO statistics.

IMPORTS

Imports during December 2016 were valued at US$ 34254.32 million (Rs. 232588.18 crore) which was 0.46 per cent higher in Dollar terms and 2.43 per cent higher in Rupee terms over the level of imports valued at US$ 34096.49 million (Rs. 227067.28 crore) in December, 2015. Cumulative value of imports for the period April-December 2016-17 was US$ 275355.92 million (Rs. 1848099.10 crore) as against US$ 297410.85 million (Rs. 1926024.55 crore) registering a negative growth of 7.42 per cent in Dollar terms and 4.05 per cent in Rupee terms over the same period last year.

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during December, 2016 were valued at US$ 7645.42 million which was 14.61 percent higher than oil imports valued at US$ 6670.61 million in December 2015. Oil imports during April-December, 2016-17 were valued at US$ 60921.83 million which was 10.76 per cent lower than the oil imports of US$ 68267.37 million in the corresponding period last year.

Non-oil imports during December, 2016 were estimated at US$ 26608.90 million which was 2.98 per cent lower than non-oil imports of US$ 27425.88 million in December, 2015. Non-oil imports during April-December 2016-17 were valued at US$ 214434.09 million which was 6.42 per cent lower than the level of such imports valued at US$ 229143.48 million in April-December, 2015-16.

 II. TRADE IN SERVICES (for November, 2016, as per the RBI Press Release dated 13th January 2017)

EXPORTS (Receipts)

Exports during November 2016 were valued at US$ 13338 Million (Rs. 90199.16 Crore) registering a positive growth of 1.72 per cent in dollar terms as compared to negative growth of 4.79 per cent during October 2016 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during November 2016 were valued at US$ 8323 Million (Rs. 56284.87 Crore) registering a positive growth of 8.37 per cent in dollar terms as compared to negative growth of 7.51 per cent during October 2016 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for April-December, 2016-17 was estimated at US$ 76548.17 million which was 23.51% lower than the deficit of US$ 100077.23 million during April-December, 2015-16.

SERVICES: As per RBI’s Press Release dated 13th January 2017, the trade balance in Services (i.e. net export of Services) for November, 2016 was estimated at US$ 5015 million. The net export of services for April- November, 2016-17 was estimated at US$ 42806 million which is lower than net export of services of US$ 46706 million during April- November, 2015-16. (The data for April-November 2015-16 and 2016-17 has been derived by adding April-November 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- December 2016-17 is estimated at US$ 33742.17 million which is 36.78 percent lower in Dollar terms than the level of US$ 53371.23 million during April-December 2015-16. (Services data pertains to April-November 2016-17 as November 2016 is the latest data available as per RBI’s Press Release dated 13th January 2017)

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MERCHANDISE TRADE

SERVICES TRADE