INDIA’S FOREIGN TRADE: June 2018

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MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during June 2018 were valued at $27.70 Billion as compared to $23.56Billion during June 2017 exhibiting a positive growth of 17.57 percent. In Rupee terms, exports were valued at Rs. 187800.20 crores June 2018 as compared to Rs. 151844.56 crores during June 2017, registering a positive growth of 23.68 percent.

During June 2018, major commodity groups of export showing positive growth over the corresponding month of last year are:

Cumulative value of exports for the period April-June 2018-19 was US$ 82.47 Billion (Rs 552781.61 crores) as against $72.21 Billion (Rs 465472.04 crores) registering a positive growth of 14.21 percent in Dollar terms and 18.76 percent in Rupee terms over the same period last year.

Non-petroleum and Non Gems and Jewellery exports during June 2018 were valued at $20.13 Billion as compared to $ 17.48 Billion during June 2017 exhibiting a positive growth of 15.13 percent. Non-petroleum and Non Gems and Jewellery exports during April-June 2018-19 were valued at $59.86 Billion as compared to $52.71 Billion for the corresponding period in 2017-18, an increase of 13.56 percent.

IMPORTS

Imports during June 2018 were valued at $44.30Billion (Rs 300351.83 crores) which was 21.31 percent higher in Dollar terms and 27.61 percent higher in Rupee terms over the level of imports valued at $36.52Billion (Rs. 235361.85 crores) in June 2017. Cumulative value of imports for the period April-June2018-19 was $127.41 Billion (Rs. 854096.98 crores) as against $112.26 Billion (Rs. 723631.11 crores) registering a positive growth of 13.49 percent in Dollar terms and 18.03 percent in Rupee terms over the same period last year.

Major commodity groups of import showing high growth in June 2018 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during June 2018 were valued at $12.73 Billion(Rs. 86270.79 crores) which was 56.61 percent higher in Dollar terms and 64.75 percent higher in Rupee terms compared to $8.13 Billion (Rs. 52363.24 crores) in June 2017. Oil imports during April-June 2018-19 were valued at $34.64 Billion (Rs. 232269.14 crores) which was 49.44 percent higher in Dollar terms and 55.47 percent higher in Rupee terms compared to $23.18 Billion (Rs. 149395.90 crores) in the corresponding period last year.

In this connection, it is mentioned that the global Brent price ($/bbl) has increased by 60.47 percent in June 2018 vis-à-vis June 2017 as per data available from US Energy Information Administration(EIA).

Non-oil imports during June 2018 were estimated at $31.58 Billion (Rs. 214081.04 crores) which was 11.20 percent higherin Dollar terms and 16.99 percent higher in Rupee terms compared to $28.40 Billion (Rs. 182998.61 crores) in June 2017.

Non-oil imports during April-June 2018-19 were valued at $92.77 Billion(Rs.621827.84 crores) which was 4.14 percent higher in Dollar terms and 8.29 percent higher in Rupee terms compared to $89.09 Billion (Rs. 574235.21 crores in April-June, 2017-18.

Non-Oil and Non-Gold imports in June 2018 valued at $29.19 billion has recorded a positive growth of 12.53 percent as compared to Non-Oil and non-Gold import in June 2017. Non-Oil and Non-Gold imports in April-June 2018 valued at $84.33 billion has recorded a positive growth of 8.37 percent as compared to Non-Oil and Non-Gold import in April-June 2017.

TRADE IN SERVICES (for May, 2018, as per the RBI Press Release dated 13th July 2018)

EXPORTS (Receipts)

Exports during May 2018 were valued at $16.17 Billion (Rs. 109231.47 Crores) registering anegative growth of 7.91 percent in dollar terms as compared to positive growth of 4.33 percent during April 2018 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during May 2018 were valued at $10.21 Billion (Rs. 68944.22Crores) registering a negativegrowth of 6.48 percent in dollar terms as compared to positive growth of 6.18 percent during April 2018(as per RBI’s Press Release for the respective months).

TRADE BALANCE

MERCHANDISE: The trade deficit for June 2018 was estimated at $16.60 Billion as against the deficit of $12.96 Billion during June 2017.

SERVICES: As per RBI’s Press Release dated 13th July 2018, the trade balance in Services (i.e. net export of Services) for May 2018 was estimated at $5.97Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, the overall trade deficit for April-June2018-19 is estimated at $32.32 Billion as compared to $28.55 Billion during April-June 2017-18. (Services data pertains to May 2018 as it is the latest data available as per RBI’s Press Release dated 13th July 2018)

Source: RBI, PIB

Mukhi
The Kootneeti Indian Diplomacy Team