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TMI BlogINDIA’S FOREIGN TRADE: November, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: November, 2016 - News and Press Release Dated:- 16-12-2016 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) In consonance with the revival exhibited by exports in the last two months, during November,2016 exports continue to show a positive growth of 2.29% in dollar terms (valued at US$ 20009.58 million) and 4.63 per cent in Rupee terms (valued at ₹ 135316.19 crore) as compared to US$ 19560.92 million (₹ 129331.11 crore) during November,2015. Cumulative value of exports for the period April-November 2016-17 was US$ 174922.78 million (₹ 1171733.68 crore) as against US$ 174740.27 million (₹ 1127542.80 crore) registering a positive growth of 0.10 per cent in Do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llar terms and positive growth of 3.92 per cent in Rupee terms over the same period last year. Non-petroleum exports in November 2016 were valued at US$ 17602.33 million against US$ 17232.25 million in November 2015, an increase of 2.1 %. Non-petroleum exports during April - November 2016-17 were valued at US$ 155713.51 million as compared to US$ 152923.93 million for the corresponding period in 2015, an increase of 1.8%. The growth in exports for USA (0.25%), Japan (9.81%) but China and EU exhibited negative growth of (-10.15%) and (-0.57%) respectively for September 2016 over the corresponding period of previous year as per latest WTO statistics. IMPORTS Imports during November 2016 were valued at US$ 33018.45 million (& ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 223289.57 crore) which was 10.44 per cent higher in Dollar terms and 12.96 per cent higher in Rupee terms over the level of imports valued at US$ 29896.41 million (₹ 197666.37) in November,2015. Cumulative value of imports for the period April-November 2016-17 was US$ 241101.60 million (₹ 1615510.92 crore) as against US$ 263314.36 million (₹ 1698957.27 crore) registering a negative growth of 8.44 per cent in Dollar terms and 4.91 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during November, 2016 were valued at US$ 6837.76 million which was 5.89 percent higher than oil imports valued at US$ 6457.37 million in November 2015. Oil imports dur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing April-November, 2016-17 were valued at US$ 53276.41 million which was 13.51 per cent lower than the oil imports of US$ 61596.76 million in the corresponding period last year. Non-oil imports during November, 2016 were estimated at US$ 26180.69 million which was 11.70 per cent higher than non-oil imports of US$ 23439.04 million in November, 2015. Non-oil imports during April-November 2016-17 were valued at US$ 187825.19 million which was 6.89 per cent lower than the level of such imports valued at US$ 201717.60 million in April-November, 2015-16. II. TRADE IN SERVICES (for October, 2016, as per the RBI Press Release dated 15 th December 2016) EXPORTS (Receipts) Exports during October 2016 were valued at US$ 13113 M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illion (₹ 87526.26 Crore) registering a negative growth of 4.79 per cent in dollar terms as compared to positive growth of 2.93 per cent during September 2016 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during October 2016 were valued at US$ 7680 Million (₹ 51262.23 Crore) registering a negative growth of 7.51 per cent in dollar terms as compared to positive growth of 3.10 per cent during September 2016 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for April-November, 2016-17 was estimated at US$ 66178.82 million which was 25.28% lower than the deficit of US$ 88574.09 million during April-November, 2015-16. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SERVICES : As per RBI s Press Release dated 15 th December 2016, the trade balance in Services (i.e. net export of Services) for October, 2016 was estimated at US$ 5433 million. The net export of services for April- October, 2016-17 was estimated at US$ 37791 million which is lower than net export of services of US$ 40373 million during April- October, 2015-16. (The data for April-October 2015-16 and 2016-17 has been derived by adding April-October 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- November 2016-17 is estimated at US$ 28387.82 million which is 41.11 percent lower in Dollar terms than the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evel of US$ 48201.09 million during April-November 2015-16. (Services data pertains to April-October 2016-17 as October 2016 is the latest data available as per RBI s Press Release dated 15 th December 2016) MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Million) (PROVISIONAL) NOVEMBER APRIL-NOVEMBER EXPORTS(including re-exports) 2015-16 19560.92 174740.27 2016-17 20009.58 174922.78 %Growth2016-17/ 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015-16 2.29 0.10 IMPORTS 2015-16 29896.41 263314.36 2016-17 33018.45 241101.60 %Growth2016-17/ 2015-16 10.44 -8.44 TRADE BALANCE 2015-16 -10335.49 -88574.09 2016-17 -13008.87 -66178.82 EXPORTS IMPORTS : ( ₹ Crore) (PROVISIONA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... L) NOVEMBER APRIL-NOVEMBER EXPORTS(including re-exports) 2015-16 129331.11 1127542.80 2016-17 135316.19 1171733.68 %Growth2016-17/ 2015-16 4.63 3.92 IMPORTS 2015-16 197666.37 1698957.27 2016-17 223289.57 1615510.92 %Growth2016-17/ 2015-16 12.96 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -4.91 TRADE BALANCE 2015-16 -68335.26 -571414.47 2016-17 -87973.38 -443777.24 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (PROVISIONAL) October 2016-17 EXPORTS (Receipts) 13113.00 IMPORTS (Payments) 7680.00 TRADE BALANCE 5433.00 EXPORTS IMPORTS (SERVICES): ( ₹ Crore) (PROVISIONAL) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... October 2016-17 EXPORTS (Receipts) 87526.26 IMPORTS (Payments) 51262.23 TRADE BALANCE 36264.03 Source: RBI Press Release dated 15th December 2016 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... 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