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TMI BlogINDIA’S FOREIGN TRADE: March, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: March, 2017 - News and Press Release Dated:- 14-4-2017 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) In continuation with the double digit growth exhibited by exports during February 2017, exports during March 2017 have shown a significant growth of 27.59 per cent in dollar terms valued at US$ 29232.05 million as compared to US$ 22911.74 million during March,2016. In Rupee terms, during March 2017 exports were valued at ₹ 192571.13 crore as compared to ₹ 153558.85 crore during March,2016, registering a positive growth of 25.41 per cent. Cumulative value of exports for the period April-March 2016-17 was US$ 274645.10 million (Rs. 1841314.39 crore) as against US$ 262290.11 mi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llion (Rs. 1716377.99 crore) registering a positive growth of 4.71 per cent in Dollar terms and positive growth of 7.28 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems Jewellery exports in March 2017 were valued at US$ 21420.91 million against US$ 17071.00 million in March 2016, an increase of 25.5 %. Non-petroleum and Non Gems and Jewellery exports during April - March 2016-17 were valued at US$ 200557.90 million as compared to US$ 192423.94 million for the corresponding period in 2016, an increase of 4.2%. The growth in exports is positive for all major economies, USA(8.99%),EU(9.27%) ,China(7.85%) and Japan(4.48%) for January 2017 over the corresponding period of previous year as per latest WTO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statistics. IMPORTS Imports during March 2017 were valued at US$ 39669.22 million (Rs. 261327.71 crore) which was 45.25 per cent higher in Dollar terms and 42.77 per cent higher in Rupee terms over the level of imports valued at US$ 27310.28 million (Rs. 183038.67 crore) in March, 2016. Cumulative value of imports for the period April-March 2016-17 was US$ 380367.65 million (Rs. 2550926.19 crore) as against US$ 381006.64 million (Rs. 2490298.03 crore) registering a negative growth of 0.17 per cent in Dollar terms and positive growth of 2.43 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during March, 2017 were valued at US$ 9714.01 million which was 101.43 percent higher ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... than oil imports valued at US$ 4822.59 million in March 2016. Oil imports during April-March, 2016-17 were valued at US$ 86457.87 million which was 4.24 per cent higher than the oil imports of US$ 82944.45 million in the corresponding period last year. In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 33.02% in March 2017 vis- -vis March 2016 as per World Bank commodity price data (The pink sheet). Non-oil imports during March, 2017 were estimated at US$ 29955.21 million which was 33.21 per cent higher than non-oil imports of US$ 22487.69 million in March, 2016. Non-oil imports during April-March 2016-17 were valued at US$ 293909.78 million which was 1.39 per cent lower than the level of such im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ports valued at US$ 298062.19 million in April-March, 2015-16. II. TRADE IN SERVICES (for February, 2017, as per the RBI Press Release dated 13th April, 2017) EXPORTS (Receipts) Exports during February 2017 were valued at US$ 13060 Million (Rs. 87600.60 Crore) registering a negative growth of 3.76 per cent in dollar terms as compared to negative growth of 1.70 per cent during January 2017 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during February 2017 were valued at US$ 7235 Million (Rs. 48529.12 Crore) registering a negative growth of 13.96 per cent in dollar terms as compared to positive growth of 1.39 per cent during January 2017 (as per RBI s Press Release for the respectiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e months). III.TRADE BALANCE MERCHANDISE : The trade deficit for April-March, 2016-17 was estimated at US$ 105722.55 million which was 10.95% lower than the deficit of US$ 118716.53 million during April-March, 2015-16. SERVICES : As per RBI s Press Release dated 13th April 2017, the trade balance in Services (i.e. net export of Services) for February, 2017 was estimated at US$ 5825 million. The net export of services for April- February, 2016-17 was estimated at US$ 59302 million which is lower than net export of services of US$ 64429 million during April- February, 2015-16. (The data for April-February 2015-16 and 2016-17 has been derived by adding April-February month wise QE data of RBI Press Release). OVERALL TRADE BAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ANCE: Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- March 2016-17 is estimated at US$ 46420.55 million which is 14.49 percent lower in Dollar terms than the level of US$ 54287.53 million during April-March 2015-16. (Services data pertains to April-February 2016-17 as February 2017 is the latest data available as per RBI s Press Release dated 13th April 2017) MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Million) (Provisional) EXPORTS (including re-exports) MARCH APRIL-MARCH 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015-16 22911.74 262290.11 2016-17 29232.05 274645.10 % Growth 2016-17/ 2015-16 27.59 4.71 IMPORTS 2015-16 27310.28 381006.64 2016-17 39669.22 380367.65 % Growth 2016-17/ 2015-16 45.25 -0.17 TRADE BALANCE 2015-16 -4398.54 -118716.53 2016-17 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -10437.17 -105722.55 EXPORTS IMPORTS: (Rs. Crore) (Provisional) EXPORTS (including re-exports) MARCH APRIL-MARCH 2015-16 153558.85 1716377.99 2016-17 192571.13 1841314.39 % Growth 2016-17/ 2015-16 25.41 7.28 IMPORTS 2015-16 183038.67 2490298.03 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016-17 261327.71 2550926.19 % Growth 2016-17/ 2015-16 42.77 2.43 TRADE BALANCE 2015-16 -29479.82 -773920.04 2016-17 -68756.58 -709611.80 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (Provisional) February 2017 EXPORTS (Receipts) 13060 IMPORTS (Payments) 7235 TRADE BALANCE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5825 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) February 2017 EXPORTS (Receipts) 87600.60 IMPORTS (Payments) 48529.12 TRADE BALANCE 39071.48 Source: RBI Press Release dated 13 th April,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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