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TMI BlogIndia’s Foreign Trade (Merchandise): February, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade (Merchandise): February, 2016 - News and Press Release Dated:- 15-3-2016 - News - Press Information Bureau Government of India Ministry of Commerce Industry 15-March-2016 18:13 IST I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports during February, 2016 were valued at US$ 20738.60 million (Rs. 141515.41crore) which was 5.66 per cent lower in Dollar terms (3.77 per cent higher in Rupee terms) than the level of US$ 21983.43 million (Rs. 136379.94 crore) during February, 2015. Cumulative value of exports for the period April-February 2015-16 was US$ 238418.11 million (Rs. 1556576.47 crore) as against US$ 286305.92 million (Rs. 1746265.60 crore) registering a negative growth of 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.73 per cent in Dollar terms and 10.86 per cent in Rupee terms over the same period last year. Non-petroleum exports in February 2016 are valued at US$ 18905.53 million against US$ 19427.91 million in February 2015, a reduction of 2.69%. Non-petroleum exports during April to February 2016 are valued at US$ 211313.17 million as compared to US$ 232157.85 million for the corresponding period in 2015, a reduction of 8.98%. The trend of falling exports is in tandem with other major world economies. The growth in exports have fallen for USA (10.35%), European Union (7.62%) and China (1.67%) for December 2015 over the corresponding period previous year as per WTO statistics. IMPORTS Imports during February, 2016 were valued at US$ 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7280.42 million (Rs. 186155.30 crore) which was 5.03 per cent lower in Dollar terms and 4.46 per cent higher in Rupee terms over the level of imports valued at US$ 28725.38 million (Rs. 178205.35 crore) in February, 2015. Cumulative value of imports for the period April-February 2015-16 was US$ 351806.61 million (Rs. 2295116.34 crore) as against US$ 412604.70 million (Rs. 2515834.93 crore) registering a negative growth of 14.74 per cent in Dollar terms and 8.77 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during February, 2016 were valued at US$ 4767.69 million which was 21.92 per cent lower than oil imports valued at US$ 6106.33 million in the corresp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onding period last year. Oil imports during April-February, 2015-16 were valued at US$ 77862.30 million which was 40.52 per cent lower than the oil imports of US$ 130906.99 million in the corresponding period last year. Non-oil imports during February, 2016 were estimated at US$ 22512.73 million which was 0.47 per cent lower than non-oil imports of US$ 22619.05 million in February, 2015. Non-oil imports during April-February, 2015-16 were valued at US$ 273944.31 million which was 2.75 per cent lower than the level of such imports valued at US$ 281697.71 million in April-February, 2014-15. II. TRADE IN SERVICES (for January, 2016, as per the RBI Press Release dated 15 th March, 2016) EXPORTS (Receipts) Exports during Janu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ary, 2016 were valued at US$ 12573 Million (Rs. 84556.32 Crore) During January, 2016, on month-on-month basis, growth in services export turned negative (with a growth of -10.44 per cent) as compared to positive growth (16.80 per cent) during December 2015 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during January, 2016 were valued at US$ 6841 Million (Rs. 46007.30 Crore). III.TRADE BALANCE MERCHANDISE: The trade deficit for April-February, 2015-16 was estimated at US$ 113388.50 million which was lower than the deficit of US$ 126298.78 million during April-February, 2014-15. SERVICES: As per RBI s Press Release dated 15 th March 2016, the trade balance in Services (i.e. net expo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt of Services) for January, 2016 was estimated at US$ 5732 million. The net export of services for April-January, 2015-16 was estimated at US$ 59289.00 million which is lower than net export of services of US$ 62055.00 million during April-January, 2014-15 (The data for April-January 2015-16 has been derived by adding month wise QE data of RBI Press Release for respective months). OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-February, 2015-16 estimated at US$ 54099.50 million as compared to US$ 64243.78 million over same period last year has fallen by 15.79 per cent (Services data pertains to April-January as January 2016 is the latest data available as per RBI s Press Release dated 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th March 2016). MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Million) (PROVISIONAL) FEBRUARY APRIL-FEBRUARY EXPORTS(including re-exports) 2014-15 21983.43 286305.92 2015-16 20738.60 238418.11 %Growth2015-16/ 2014-15 -5.66 -16.73 IMPORTS 2014-15 2872 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5.38 412604.70 2015-16 27280.42 351806.61 %Growth2015-16/ 2014-15 -5.03 -14.74 TRADE BALANCE 2014-15 -6741.95 -126298.78 2015-16 -6541.82 -113388.50 EXPORTS IMPORTS : (Rs. Crore) (PROVISIONAL) FEBRUARY APRIL-FEBRUARY EXPO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RTS(including re-exports) 2014-15 136379.94 1746265.60 2015-16 141515.41 1556576.47 %Growth2015-16/ 2014-15 3.77 -10.86 IMPORTS 2014-15 178205.35 2515834.93 2015-16 186155.30 2295116.34 %Growth2015-16/ 2014-15 4.46 -8.77 TRADE BALANCE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014-15 -41825.41 -769569.33 2015-16 -44639.89 -738539.87 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (PROVISIONAL) January 2015-16 EXPORTS (Receipts) 12573.00 IMPORTS (Payments) 6841.00 TRADE BALANCE 5732.00 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) January 2015-16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS (Receipts) 84556.32 IMPORTS (Payments) 46007.30 TRADE BALANCE 38549.02 Source: RBI Press Release dated 15th March 2016 RC/nb - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... 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