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TMI BlogINDIA’S FOREIGN TRADE: December 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: December 2017 - News and Press Release Dated:- 15-1-2018 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports during December 2017 have exhibited positive growth of 12.36 per cent in dollar terms vis- -vis December 2016. Exports have been on a positive trajectory since August 2016 to December 2017 with a dip of 1.1 per cent in the month of October 2017. Exports during December 2017 valued at US $ 27030.27 million as compared to US $ 24056.48 million during December, 2016. In Rupee terms, exports were valued at ₹ 173648.73 crore as compared to ₹ 163344.45 crore during December, 2016, registering a rise of 6.31 per cent. During December 2017, Major commodity groups of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... export showing positive growth over the corresponding month of last year are Engineering Goods (25.32%), Petroleum Products (25.15%), Gems Jewellery (2.38%), Organic Inorganic Chemicals (31.36%), and Drugs Pharmaceuticals (6.95%). Cumulative value of exports for the period April-December 2017-18 was US $ 223512.58 million (Rs 1441419.91 crore) as against US $ 199467.14 million (Rs 1338341.51 crore) registering a positive growth of 12.05 per cent in Dollar terms and 7.70 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems Jewellery exports in December 2017 were valued at US $ 20186.36 million as against US $ 18013.78 million in December 2016, an increase of 12.06%. Non-petroleum and Non Gems and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Jewellery exports during April -December 2017-18 were valued at US $ 163714.94 million as compared to US $ 144674.52 million for the corresponding period in 2016-17, an increase of 13.16%. IMPORTS Imports during December 2017 were valued at US $ 41910.46 million (Rs 269242.54 crore) which was 21.12 per cent higher in Dollar terms and 14.59 per cent higher in Rupee terms over the level of imports valued at US $ 34602.47 million (Rs. 234952.15 crore) in December, 2016. Cumulative value of imports for the period April-December 2017-18 was US $ 338369.63 million (Rs. 2182289.84 crore) as against US $ 277899.32 million (Rs. 1865151.87 crore) registering a positive growth of 21.76 per cent in Dollar terms and 17.00 per cent in Rupee term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s over the same period last year. Major commodity groups of import showing high growth in December 2017 over the corresponding month of last year are Petroleum, Crude products (34.94%), Electronic goods (19.2%), Pearls, precious Semi-precious stones (93.98%), Gold (71.52%), and Machinery, electrical non-electrical (11.21%). CRUDE OIL AND NON-OIL IMPORTS: Oil imports during December, 2017 were valued at US $ 10345.88 million which was 34.94 percent higher than oil imports valued at US $ 7667.01 million in December 2016. Oil imports during April-December, 2017-18 were valued at US $ 76148.85 million which was 24.18 per cent higher than the oil imports of US $ 61319.72 million in the corresponding period last year. In this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... connection it is mentioned that the global Brent prices ($/bbl) have increased by 18.75 % in December 2017 vis- -vis December 2016 as per World Bank commodity price data (The pink sheet). Non-oil imports during December, 2017 were estimated at US $ 31564.58 million which was 17.19 per cent higher than non-oil imports of US $ 26935.46 million in December, 2016. Non-oil imports during April-December 2017-18 were valued at US $ 262220.78 million which was 21.07 per cent higher than the level of such imports valued at US $ 216579.60 million in April-December, 2016-17. II. TRADE IN SERVICES (for November, 2017, as per the RBI Press Release dated 15th January 2018) EXPORTS (Receipts) Exports during November 2017 were valued at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... US $ 15,392 million (Rs. 99836.51 Crore) registering a positive growth of 8.76 per cent in dollar terms as compared to positive growth of 3.06 per cent during October 2017 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during November 2017 were valued at US $ 9,647 million (Rs. 62572.95 Crore) registering a positive growth of 10.89 per cent in dollar terms as compared to positive growth of 2.96 per cent during October 2017 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for December 2017 was estimated at US $ 14880.19 million as against the deficit of US $ 10545.99 million during December 2016. SERVICES : As per RBI s Press R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elease dated 15th January 2018, the trade balance in Services (i.e. net export of Services) for November, 2017 was estimated at US $ 5,745 million. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-December 2017-18 is estimated at US $ 70063.05 million as compared to US $ 35626.18 million during April-December 2016-17. (Services data pertains to April-November 2017-18 as November 2017 is the latest data available as per RBI s Press Release dated 15th January 2018) MERCHANDISE TRADE EXPORTS IMPORTS: (US $ Million) (PROVISIONAL) DECEMBER APRIL-DECEMBER EXPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (including re-exports) 2016-17 24056.48 199467.14 2017-18 27030.27 223512.58 %Growth 2017-18/ 2016-17 12.36 12.05 IMPORTS 2016-17 34602.47 277899.32 2017-18 41910.46 338369.63 %Growth 2017-18/ 2016-17 21.12 21.76 TRADE BALANCE 2016-17 -10545.99 -78432.18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2017-18 -14880.19 -114857.05 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) DECEMBER APRIL-DECEMBER EXPORTS(including re-exports) 2016-17 163344.45 1338341.51 2017-18 173648.73 1441419.91 %Growth 2017-18/ 2016-17 6.31 7.70 IMPORTS 2016-17 234952.15 1865151.87 2017-18 269242.54 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2182289.84 %Growth 2017-18/ 2016-17 14.59 17.00 TRADE BALANCE 2016-17 -71607.71 -526810.35 2017-18 -95593.82 -740869.94 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (Provisional) November 2017 EXPORTS (Receipts) 15392 IMPORTS (Payments) 9647 TRADE BALANCE 5745 EXPORTS IMPORTS (SERVICES): ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. Crore) (Provisional) November 2017 EXPORTS (Receipts) 99836.51 IMPORTS (Payments) 62572.95 TRADE BALANCE 37263.56 Source: RBI Press Release dated 15th January, 2018 QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR DECEMBER 2017 CLICK HERE - 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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