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TMI BlogIndia’s Foreign Trade: January 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: January 2018 - News and Press Release Dated:- 15-2-2018 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports during January 2018 have exhibited positive growth of 9.07per cent in dollar terms vis- -vis January 2017. Exports have been on a positive trajectory since August 2016 to January 2018 with a dip of 1.1 per cent in the month of October 2017. Exports during January 2018valued at US$ 24383.97 million as compared to US$ 22356.32 million during January 2017. In Rupee terms, exports were valued at ₹ 155172.00crore as compared to ₹ 152202.70crore during January 2017, registering a riseof 1.95per cent. During January 2018, Major commodity groups of export showing positive growth over the corresponding month of last year areEngineering Goods (15.77%), Petroleum Products (39.5%), Gems Jewellery (0.89%), Organic Inorganic Chemicals (33.6%) and Drugs Pharmaceuticals (8.6%). Cumulative value of exports for the period April-January 2017-18 was US$247896.55 million (Rs1596591.91crore) as against US $221823.46million (Rs1490544.21 crore) registering a positive growth of 11.75 per cent in Dollar terms a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 7.11 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems Jewellery exports in January 2018 were valued at US$ 17523.24 million as against US$ 16607.36 million in January 2017, an increase of 5.51%. Non-petroleum and Non Gems and Jewellery exports during April-January 2017-18 were valued at US$ 181238.18 million as compared to US$ 161281.88 million for the corresponding period in 2016-17, an increase of 12.37%. IMPORTS Imports during January 2018 were valued at US$ 40682.44 million (Rs258890.43 crore) which was 26.10 per cent higher in Dollar terms and 17.87 per cent higher in Rupee terms over the level of imports valued at US$ 32261.14 million (Rs. 219635.13 crore) in January 2017. Cumulative value of imports for the period April-January 2017-18 was US$ 379052.07million (Rs. 2441180.27 crore) as against US$ 310160.46 million (Rs. 2084786.99crore) registering a positive growth of 22.21 per cent in Dollar terms and 17.09per cent in Rupee terms over the same period last year. Major commodity groups of import showing high growth in January 2018 over the corresponding month of last year are Petroleum, Crude products (42.64%), Electron ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic goods (12.19%), Machinery, electrical non-electrical (29.11%), Pearls, precious Semi-precious stones (55.71%) and Coal, Coke Briquettes, etc. (31.67%). CRUDE OIL AND NON-OIL IMPORTS: Oil imports during January 2018 were valued at US$ 11659.07million which was 42.64percent higher than oil imports valued at US$ 8173.96million in January 2017.Oil imports during April-January 2017-18 were valued at US$ 87807.92 million which was 26.35per cent higher than the oil imports of US$ 69493.68 million in the corresponding period last year. In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 25.69% in January 2018 vis- -vis January 2017 as per World Bank commodity price data (The pink sheet). Non-oil imports during January 2018 were estimated at US$ 29023.37 million which was 20.49 per cent higher than non-oil imports of US$ 24087.18 million in January 2017 Non-oil imports during April-January 2017-18 were valued at US$ 291244.15 million which was 21.02 per cent higher than the level of such imports valued at US$ 240666.78 million in April-January, 2016-17. II. TRADE IN SERVICES (for December, 2017, as per the RBI Press Release d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 15th February 2018) EXPORTS (Receipts) Exports during December2017 were valued at US$ 16,005million (Rs. 102819.83Crore) registering apositive growth of 3.98per cent in dollar terms as compared to positive growth of 8.76per cent during November2017 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during December2017 were valued at US$ 9,859million (Rs. 63336.50Crore) registering a positivegrowth of 2.20per cent in dollar terms as compared topositive growth of 10.89per cent during November2017 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for January 2018 was estimated at US$ 16298.47millionas against the deficit of US$ 9904.82million during January 2017. SERVICES : As per RBI s Press Release dated 15th February 2018, the trade balance in Services (i.e. net export of Services) for December, 2017 was estimated at US$ 6,146million. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-January 2017-18 is estimated at US$ 80215.52million as compared to US$ 40021.00million during April-January 2016-17. (Service ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s data pertains to April-December2017-18 as December2017 is the latest data available as per RBI s Press Release dated 15th February2018) MERCHANDISE TRADE EXPORTS IMPORTS: (US $ Million) (PROVISIONAL) JANUARY APRIL-JANUARY EXPORTS (including re-exports) 2016-17 22356.32 221823.46 2017-18 24383.97 247896.55 %Growth 2017-18/ 2016-17 9.07 11.75 IMPORTS 2016-17 32261.14 310160.46 2017-18 40682.44 379052.07 %Growth 2017-18/ 2016-17 26.10 22.21 TRADE BALANCE 2016-17 -9904.82 -88337.00 2017 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -18 -16298.47 -131155.52 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) JANUARY APRIL-JANUARY EXPORTS(including re-exports) 2016-17 152202.70 1490544.21 2017-18 155172.00 1596591.91 %Growth 2017-18/ 2016-17 1.95 7.11 IMPORTS 2016-17 219635.13 2084786.99 2017-18 258890.43 2441180.27 %Growth 2017-18/ 2016-17 17.87 17.09 TRADE BALANCE 2016-17 -67432.43 -594242.78 2017-18 -103718.43 -844588.37 SERVICES TRADE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS IMPORTS (SERVICES) : (US $ Million) (Provisional) December 2017 EXPORTS (Receipts) 16005 IMPORTS (Payments) 9859 TRADE BALANCE 6146 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) December 2017 EXPORTS (Receipts) 102819.83 IMPORTS (Payments) 63336.50 TRADE BALANCE 39483.33 Source: RBI Press Release dated 15th February, 2018 QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018 TRADE: EXPORT Sl. No. Commodities (Values in Rs. crores) % change JAN'17 JAN'18 JAN'18 1 Tea 426.85 448.93 5.17 2 Coffee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 353.98 336.20 -5.02 3 Rice 3526.19 4211.61 19.44 4 Other cereals 166.74 89.77 -46.16 5 Tobacco 386.49 503.59 30.30 6 Spices 1480.06 1421.30 -3.97 7 Cashew 440.15 423.87 -3.70 8 Oil Meals 660.94 594.70 -10.02 9 Oil seeds 1053.55 537.14 -49.02 10 Fruits Vegetables 1371.80 1426.61 4.00 11 Cereal preparations miscellaneous processed items 623.98 701.71 12.46 12 Marine Products ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2739.21 3012.14 9.96 13 Meat, dairy poultry products 1863.36 1886.16 1.22 14 Iron Ore 1219.24 564.42 -53.71 15 Mica, Coal Other Ores, Minerals including processed minerals 1867.09 2076.12 11.20 16 Leather leather products 2830.84 2795.43 -1.25 17 Ceramic products glassware 983.11 1054.39 7.25 18 Gems Jewellery 20438.90 19274.96 -5.69 19 Drugs Pharmaceuticals 8662.06 8793.40 1.52 20 Organic Inorganic Chemicals 8216.87 10261.48 24.88 21 Engin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eering Goods 37437.27 40511.85 8.21 22 Electronic Goods 3168.90 2934.98 -7.38 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 6354.71 5369.18 -15.51 24 Man-made Yarn/Fabs./made-ups etc. 2764.17 2564.23 -7.23 25 RMG of all Textiles 10372.82 8883.26 -14.36 26 Jute Mfg. including Floor Covering 186.09 180.45 -3.03 27 Carpet 808.27 708.26 -12.37 28 Handicrafts excl. handmade carpet 981.31 882.13 -10.11 29 Petroleum Products 18700.23 24384.55 30.40 30 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Plastic Linoleum 3172.23 3862.81 21.77 Sub-Total 143257.41 150695.63 5.19 GRAND TOTAL 152202.70 155172.00 1.95 Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018 TRADE: EXPORT Sl. No. Commodities (Values in Million USD) % change JAN'17 JAN'18 JAN'18 1 Tea 62.70 70.55 12.52 2 Coffee 51.99 52.83 1.62 3 Rice 517.94 661.82 27.78 4 Other cereals 24.49 14.11 -42 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .38 5 Tobacco 56.77 79.13 39.39 6 Spices 217.40 223.35 2.74 7 Cashew 64.65 66.61 3.03 8 Oil Meals 97.08 93.45 -3.74 9 Oil seeds 154.75 84.41 -45.45 10 Fruits Vegetables 201.50 224.18 11.26 11 Cereal preparations miscellaneous processed items 91.65 110.27 20.32 12 Marine Products 402.35 473.33 17.64 13 Meat, dairy poultry products 273.70 296.39 8.29 14 Iron Ore 179.09 88.69 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -50.48 15 Mica, Coal Other Ores, Minerals including processed minerals 274.25 326.24 18.96 16 Leather leather products 415.81 439.28 5.64 17 Ceramic products glassware 144.40 165.69 14.74 18 Gems Jewellery 3002.17 3028.90 0.89 19 Drugs Pharmaceuticals 1272.33 1381.81 8.60 20 Organic Inorganic Chemicals 1206.94 1612.50 33.60 21 Engineering Goods 5498.98 6366.09 15.77 22 Electronic Goods 465.46 461.21 -0.91 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 933.41 843.72 -9.61 24 Man-made Yarn/Fabs./made-ups etc. 406.02 402.95 -0.76 25 RMG of all Textiles 1523.61 1395.93 -8.38 26 Jute Mfg. including Floor Covering 27.33 28.36 3.77 27 Carpet 118.72 111.30 -6.25 28 Handicrafts excl. handmade carpet 144.14 138.62 -3.83 29 Petroleum Products 2746.79 3831.83 39.50 30 Plastic Linoleum 465.95 607.01 30.27 Sub-Total 21042.37 23680.56 12.54 GRAND TOTAL 22356.32 24383.97 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9.07 Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018 TRADE: IMPORT Sl. No. Commodities (Values in Rs. crores) % change JAN'17 JAN'18 JAN'18 1 Cotton Raw Waste 231.41 198.69 -14.14 2 Vegetable Oil 5594.51 5907.47 5.59 3 Pulses 3175.59 755.96 -76.19 4 Fruits vegetables 1084.78 1289.83 18.90 5 Pulp and Waste paper 611.57 525.87 -14.01 6 Textile yarn Fabric, made-up articles 806.97 960.13 18.98 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 Fertilisers, Crude manufactured 1644.24 2819.37 71.47 8 Sulphur Unroasted Iron Pyrites 74.57 119.29 59.97 9 Metalliferous ores other minerals 4045.71 6491.49 60.45 10 Coal, Coke Briquettes, etc. 11378.75 14004.63 23.08 11 Petroleum, Crude products 55648.68 74194.72 33.33 12 Wood Wood products 2462.09 3141.65 27.60 13 Leather leather products 479.62 532.55 11.04 14 Organic Inorganic Chemicals 8234.72 11425.26 38.74 15 Dyeing/tanning/colouring materials. 1220.81 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1754.62 43.73 16 Artificial resins, plastic materials, etc. 5863.28 7821.83 33.40 17 Chemical material products 3059.23 4088.89 33.66 18 Newsprint 451.60 289.49 -35.90 19 Pearls, precious Semi-precious stones 10518.84 15309.91 45.55 20 Iron Steel 6825.42 8220.34 20.44 21 Non-ferrous metals 5446.24 7257.05 33.25 22 Machine tools 1660.37 2398.56 44.46 23 Machinery, electrical non-electrical 15849.56 19128.31 20.69 24 Transport equipment 12749.27 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12398.78 -2.75 25 Project goods 1190.97 873.33 -26.67 26 Professional instrument, Optical goods, etc. 2075.92 2325.11 12.00 27 Electronic goods 26555.36 27848.56 4.87 28 Medicinal Pharmaceutical products 2767.31 3023.28 9.25 29 Gold 13890.79 10119.16 -27.15 30 Silver 1334.47 1650.92 23.71 Sub-Total 206932.65 246875.05 19.30 GRAND TOTAL 219635.13 258890.43 17.87 Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change QUICK ESTIMATES FOR SEL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ECTED MAJOR COMMODITIES FOR JANUARY 2018 TRADE: IMPORT Sl. No. Commodities (Values in Million USD) % change JAN'17 JAN'18 JAN'18 1 Cotton Raw Waste 33.99 31.22 -8.15 2 Vegetable Oil 821.75 928.31 12.97 3 Pulses 466.45 118.79 -74.53 4 Fruits vegetables 159.34 202.69 27.21 5 Pulp and Waste paper 89.83 82.64 -8.00 6 Textile yarn Fabric, made-up articles 118.53 150.88 27.29 7 Fertilisers, Crude manufactured 241.51 443.04 83.45 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sulphur Unroasted Iron Pyrites 10.95 18.75 71.23 9 Metalliferous ores other minerals 594.26 1020.08 71.66 10 Coal, Coke Briquettes, etc. 1671.37 2200.71 31.67 11 Petroleum, Crude products 8173.96 11659.07 42.64 12 Wood Wood products 361.64 493.68 36.51 13 Leather leather products 70.45 83.69 18.79 14 Organic Inorganic Chemicals 1209.56 1795.38 48.43 15 Dyeing/tanning/colouring materials. 179.32 275.72 53.76 16 Artificial resins, plastic materials, etc. 861.23 1229.13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 42.72 17 Chemical material products 449.36 642.53 42.99 18 Newsprint 66.33 45.49 -31.42 19 Pearls, precious Semi-precious stones 1545.06 2405.82 55.71 20 Iron Steel 1002.55 1291.76 28.85 21 Non-ferrous metals 799.97 1140.38 42.55 22 Machine tools 243.88 376.91 54.55 23 Machinery, electrical non-electrical 2328.06 3005.85 29.11 24 Transport equipment 1872.68 1948.36 4.04 25 Project goods 174.94 137.24 -21.55 26 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Professional instrument, Optical goods, etc. 304.92 365.37 19.82 27 Electronic goods 3900.59 4376.17 12.19 28 Medicinal Pharmaceutical products 406.48 475.08 16.88 29 Gold 2040.35 1590.14 -22.07 30 Silver 196.01 259.43 32.36 Sub-Total 30395.32 38794.31 27.63 GRAND TOTAL 32261.14 40682.44 26.10 Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change. - 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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