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TMI BlogIndia’s Foreign Trade: February 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: February 2019 - News and Press Release Dated:- 15-3-2019 - News - India s overall exports (Merchandise and Services combined) in April-February 2018-19* are estimated to be USD 483.98Billion, exhibiting a positive growth of 8.73per cent over the same period last year. Overall imports in April-February2018-19* are estimated to be USD 577.31Billion, exhibiting a positive growth of 9.42per cent over the same period last year. *Note: Services data pertains to April-January 2018-19 as January 2018 is the latest data available as per RBI s Press Release dated 15th March 2019. It is arrived at by adding quarterly data of RBI for Q1 Q2 of 2018-19 with Month-wise QE dataof RBI s press release forOctober ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to January 2018-19. This data is provisional and subject to revision by RBI. In addition, it may be noted that data for February 2019 is estimated and added to the April-January 2018-19 data of RBI to calculate the Overall Trade Deficit for April-February 2018-19. It will be revised based on RBI s next press release for February 2019. I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inFebruary 2019 were US $ 26.67Billion, as compared to US $ 26.03Billion in February 2018, exhibiting a positive growth of 2.44 per cent. In Rupee terms, exports were ₹ 1,89,931.49Crore in February 2019, as compared to ₹ 1,67,583.64 Crore in February 2018, registering a positive growth of 13.34 per cent. InFeb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ruary 2019, major commodity groups of export showing positive growth over the corresponding month of last year are Cumulative value of exports for the period April-February 2018-19 was US $ 298.47 Billion (Rs.20,88,290.32 Crore) as against US $ 274.21 Billion (Rs.17,65,895.27 Crore) during the period April-February 2017-18, registering a positive growth of 8.85 per cent in Dollar terms (18.26per cent in Rupee terms). Non-petroleum and Non Gems and Jewellery exports in February 2019 were US $ 19.87Billion, as compared to US $ 18.90Billion in February 2018, exhibiting a positive growth of 5.14per cent. Non-petroleum and Non Gems and Jewellery exports in April-February 2018-19 were US $ 217.43Billion, as compared to US $ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 201.95 Billion for the corresponding period in 2017-18, an increase of 7.66per cent. IMPORTS Imports in February 2019 were US $ 36.26 Billion (Rs. 2,58,271.75 Crore), which was 5.41 per cent lower in Dollar terms and 4.66 per cent higher in Rupee terms over imports of US $ 38.34 Billion (Rs.2,46,779.79 Crore) in February 2018. Cumulative value of imports for the period April-February 2018-19 was US $ 464.00 Billion (Rs.32,46,190.43 Crore), as against US $ 422.76 Billion (Rs.27,22,592.19 Crore) during the period April-February 2017-18, registering a positive growth of 9.75 per cent in Dollar terms (19.23per cent in Rupee terms). Major commodity groups of import showing negative growth in February 2019 over the corresponding mont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inFebruary 2019 were US $ 9.38 Billion (Rs. 66,774.46Crore), which was 8.05 percent lower in Dollar terms (1.73 percent higher in Rupee terms), compared to US $ 10.20 Billion (Rs. 65,639.50Crore) in February 2018. Oil imports in April-February 2018-19 were US $ 128.72Billion (Rs. 9,01,538.30Crore) which was 31.98 per cent higher in Dollar terms (43.57percent higher in Rupee terms) compared to US $ 97.53Billion (Rs. 6,27,961.37Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 1.97% in February 2019 vis- -vis February 2018 as per data available from World Bank (Pink Sheet). Non-o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il imports inFebruary 2019 were estimated at US $ 26.89Billion (Rs.1,91,497.29Crore) which was 4.45per cent lower in Dollar terms (5.72percent higher in Rupee terms), compared to US $ 28.14Billion (Rs. 1,81,140.29Crore) in February 2018. Non-oil imports in April-February 2018-19 were US $ 335.28Billion (Rs.23,44,652.13Crore) which was 3.09per cent higher in Dollar terms (11.94percent higher in Rupee terms), compared to US $ 325.23Billion (Rs. 20,94,630.82Crore) in April-February2017-18. Non-Oil and Non-Gold imports were US $ 24.30billion in February 2019, recording a negative growth of 3.72per cent, as compared to Non-Oil and Non-Gold imports in February 2018. Non-Oil and Non-Gold imports were US $ 305.73billion in April-February 2018-19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , recording a positive growth of 3.97per cent, as compared to Non-Oil and Non-Gold imports in April-February 2017-18. II. TRADE IN SERVICES (for January, 2019, as per the RBI Press Release dated 15th March 2019) EXPORTS (Receipts) Exports inJanuary2019 were US $ 17.75Billion (Rs.1,25,515.53Crore) registering a negative growth of 1.02per cent in dollar terms, vis- -vis December 2018. (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports inJanuary2019 were US $ 11.03Billion (Rs.77,997.17Crore) registering a negative growth of 3.07per cent in dollar terms,vis- -vis December 2018. (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade defi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cit for February 2019 was estimated at US $ 9.60Billion as against the deficit of US $ 12.30Billion inFebruary 2018. SERVICES : As per RBI s Press Release dated 15th March 2019, the trade balance in Services (i.e. Net Services export) for January, 2019 is estimated at US $ 6.72Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-February 2018-19* is estimated at US $ 93.32Billion as compared to US $ 82.46Billion in April-February 2017-18. *Note: Services data pertains to April-January 2018-19 as January 2018 is the latest data available as per RBI s Press Release dated 15th March 2019. It is arrived at by adding quarterly data of RBI for Q1 Q2 of 2018-19 with Month-wise QE d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ataof RBI s press release for October to January 2018-19. This data is provisional and subject to revision by RBI. In addition, it may be noted that data for February 2019 is estimated and added to the April-January 2018-19 data of RBI to calculate the Overall Trade Deficit for April-February 2018-19. It will be revised based on RBI s next press release for February 2019. MERCHANDISE TRADE EXPORTS IMPORTS: (US $ Billion) (PROVISIONAL) FEBRUARY APRIL-FEBRUARY EXPORTS (including re-exports) 2017-18 26.03 274. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21 2018-19 26.67 298.47 %Growth 2018-19/ 2017-18 2.44 8.85 IMPORTS 2017-18 38.34 422.76 2018-19 36.26 464.00 %Growth 2018-19/ 2017-18 -5.41 9.75 TRADE BALANCE 2017-18 -12.30 -148.55 2018-19 -9.60 -165.52 EXPORTS IMPORTS: ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. Crore) (PROVISIONAL) FEBRUARY APRIL- FEBRUARY EXPORTS(including re-exports) 2017-18 1,67,583.64 17,65,895.27 2018-19 1,89,931.49 20,88,290.32 %Growth 2018-19/ 2017-18 13.34 18.26 IMPORTS 2017-18 2,46,779.79 27,22,592.19 2018-19 2,58,271.75 32,46,190.43 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... %Growth 2018-19/ 2017-18 4.66 19.23 TRADE BALANCE 2017-18 -79,196.15 -9,56,696.92 2018-19 -68,340.26 -11,57,900.11 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (Provisional) JANUARY 2019 APRIL-JANUARY 2018-19 EXPORTS (Receipts) 17.75 167.43 IMPORTS (Payments) 11.03 101.93 TRADE BALANCE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.72 65.50 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) JANUARY 2019 APRIL-JANUARY 2018-19 EXPORTS (Receipts) 1,25,515.53 11,69,301.56 IMPORTS (Payments) 77,997.17 7,11,873.57 TRADE BALANCE 47,518.36 4,57,427.99 Note: Services data pertains to April-January 2018-19 as January 2018 is the latest data available as per RBI s Press Release dated 15 th March 2019. April-January 2018-19 data is arrived at by adding quarterly data of RBI for Q1 Q2 of 2018-19 wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Month-wise QE dataof RBI s press release for October to January 2018-19. This has been used along with the estimate of service exports and imports for February 2019, as explained in page-1 for the purpose of this Press note. Click here to see Quick Estimate of February 2019 - 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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