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TMI BlogINDIA’S FOREIGN TRADE: January, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: January, 2017 - News and Press Release Dated:- 15-2-2017 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) In consonance with the revival exhibited by exports in the last four months, during January,2017 exports continue to show a positive growth of 4.32 per cent in dollar terms (valued at US$ 22115.03 million) and 5.61 per cent in Rupee terms (valued at ₹ 150559.98 crore) as compared to US$ 21199.02 million (Rs. 142568.31 crore) during January,2016. Cumulative value of exports for the period April-January 2016-17 was US$ 220922.78 million (Rs. 1484473.55 crore) as against US$ 218532.64 million (Rs. 1420572.68 crore) registering a positive growth of 1.09 per cent in Dollar terms and p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ositive growth of 4.50 per cent in Rupee terms over the same period last year. Non-petroleum exports in January 2017 were valued at US$ 19422.86 million against US$ 19111.38 million in January 2016, an increase of 1.6 %. Non-petroleum exports during April - January 2016-17 were valued at US$ 196254.10 million as compared to US$ 192071.50 million for the corresponding period in 2016, an increase of 2.2%. The growth in exports is positive for USA (2.63%),EU(5.47%) and Japan(13.43%) but China has exhibited negative growth of (-1.51%) for November 2016 over the corresponding period of previous year as per latest WTO statistics. IMPORTS Imports during January 2017 were valued at US$ 31955.94 million (Rs. 217557.32 crore) which was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10.70 per cent higher in Dollar terms and 12.07 per cent higher in Rupee terms over the level of imports valued at US$ 28866.53 million (Rs. 194134.02 crore) in January, 2016. Cumulative value of imports for the period April-January 2016-17 was US$ 307311.86 million (Rs. 2065656.42 crore) as against US$ 326277.38 million (Rs. 2120158.57 crore) registering a negative growth of 5.81 per cent in Dollar terms and 2.57 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during January, 2017 were valued at US$ 8140.83 million which was 61.07 percent higher than oil imports valued at US$ 5054.29 million in January 2016. Oil imports during April-January, 2016-17 were valued at US$ 69062.66 mi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llion which was 5.81 per cent lower than the oil imports of US$ 73321.66 million in the corresponding period last year. Non-oil imports during January, 2017 were estimated at US$ 23815.11 million which was 0.01 per cent higher than non-oil imports of US$ 23812.24 million in January, 2016. Non-oil imports during April-January 2016-17 were valued at US$ 238249.20 million which was 5.81 per cent lower than the level of such imports valued at US$ 252955.72 million in April-January, 2015-16. II. TRADE IN SERVICES (for December, 2016, as per the RBI Press Release dated 15th February 2017) EXPORTS (Receipts) Exports during December 2016 were valued at US$ 13804 Million (Rs. 93729.71 Crore) registering a positive growth of 3.49 pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r cent in dollar terms as compared to positive growth of 1.72 per cent during November 2016 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during December 2016 were valued at US$ 8294 Million (Rs. 56316.59 Crore) registering a negative growth of 0.35 per cent in dollar terms as compared to positive growth of 8.37 per cent during November 2016 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for April-January, 2016-17 was estimated at US$ 86389.08 million which was 19.82% lower than the deficit of US$ 107744.74 million during April-January, 2015-16. SERVICES : As per RBI s Press Release dated 15th February 2017, the trade balan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce in Services (i.e. net export of Services) for December, 2016 was estimated at US$ 5510 million. The net export of services for April- December, 2016-17 was estimated at US$ 48316 million which is lower than net export of services of US$ 53557 million during April- December, 2015-16. (The data for April-December 2015-16 and 2016-17 has been derived by adding April-December 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- January 2016-17 is estimated at US$ 38073.08 million which is 29.7 percent lower in Dollar terms than the level of US$ 54187.74 million during April-January 2015-16. (Services data pertai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns to April-December 2016-17 as December 2016 is the latest data available as per RBI s Press Release dated 15th February 2017) MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Million) (Provisional) EXPORTS (including re-exports) JANUARY APRIL-JANUARY 2015-16 21199.02 218532.64 2016-17 22115.03 220922.78 % Growth 2016-17/ 2015-16 4.32 1.09 IMPORTS 2015-16 28866.53 326277.38 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016-17 31955.94 307311.86 % Growth 2016-17/ 2015-16 10.70 -5.81 TRADE BALANCE 2015-16 -7667.51 -107744.74 2016-17 -9840.91 -86389.08 EXPORTS IMPORTS : (Rs. Crore) (Provisional) EXPORTS (including re-exports) JANUARY APRIL-JANUARY 2015-16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 142568.31 1420572.68 2016-17 150559.98 1484473.55 % Growth 2016-17/ 2015-16 5.61 4.50 IMPORTS 2015-16 194134.02 2120158.57 2016-17 217557.32 2065656.42 % Growth 2016-17/ 2015-16 12.07 -2.57 TRADE BALANCE 2015-16 -51565.71 -699585.89 2016-17 -66997.3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 -581182.87 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (Provisional) December 2016-17 EXPORTS (Receipts) 13804.00 IMPORTS (Payments) 8294.00 TRADE BALANCE 5510.00 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) December 2016-17 EXPORTS (Receipts) 93729.71 IMPORTS (Payments) 56316.59 TRADE BALANCE 37413.12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Source: RBI Press Release dated 15 th February,2017 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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