TMI BlogINDIA’S FOREIGN TRADE: August, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: August, 2016 - News and Press Release Dated:- 16-9-2016 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) During August,2016 exports were valued at US$ 21518.60 million (Rs.144044.67 crore) which was 0.30 per cent lower in Dollar terms (2.56 per cent higher in Rupee terms) than the level of US$ 21582.67 million (Rs.140443.43 crore) during August,2015. Cumulative value of exports for the period April-August 2016-17 was US$ 108519.94 million (Rs.726776.04 crore) as against US$ 111853.88 million (Rs.713808.46 crore) registering a negative growth of 2.98 per cent in Dollar terms and positive growth of 1.82 per cent in Rupee terms over the same period last year. Non-petroleum exports in A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugust 2016 are valued at US$ 19084.31million against US$ 18749.42 million in August 2015, an increase of 1.79 %. Non-petroleum exports during April to August 2016 are valued at US$ 96983.74 million as compared to US$ 97485.84 million for the corresponding period in 2015, a reduction of 0.52%. The growth in exports have fallen for USA (-4.35%), EU (-2.16%), China (-4.94%) but Japan exhibited positive growth (8.67%) for June 2016 over the corresponding period of previous year as per latest WTO statistics. IMPORTS Imports during August 2016 were valued at US$ 29192.74 million (Rs.195415.03 crore) which was 14.09 per cent lower in Dollar terms and 11.63 per cent lower in Rupee terms over the level of imports valued at US$ 33981 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .73 million (Rs.221126.92) in August,2015. Cumulative value of imports for the period April-August 2016-17 was US$ 143189.49 million (Rs.959102.25 crore) as against US$ 170234.30 million (Rs.1086515.26 crore) registering a negative growth of 15.89 per cent in Dollar terms and 11.73 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during August, 2016 were valued at US$ 6743.85 million which was 8.47 percent lower than oil imports valued at US$ 7367.75 million in the corresponding period last year. Oil imports during April-August, 2016-17 were valued at US$ 32410.81 million which was 22.08 per cent lower than the oil imports of US$ 41593.53 million in the corresponding period last ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year. Non-oil imports during August, 2016 were estimated at US$ 22448.89 million which was 15.65 per cent lower than non-oil imports of US$ 26613.98 million in August, 2015. Non-oil imports during April-August 2016-17 were valued at US$ 110778.68 million which was 13.89 per cent lower than the level of such imports valued at US$ 128640.77 million in April-August, 2015-16. II. TRADE IN SERVICES (for July, 2016, as per the RBI Press Release dated 15 th September 2016) EXPORTS (Receipts) Exports during July 2016 were valued at US$ 12775 Million (Rs.85857.71Crore) registering a negative growth of 4.11 per cent in dollar terms as compared to negative growth of 1.03 per cent during June 2016 (as per RBI s Press Release for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the respective months). IMPORTS (Payments) Imports during July 2016 were valued at US$ 7409 Million (Rs. 49794.11 Crore) registering a negative growth of 11.68 per cent in dollar terms as compared to positive growth of 5.89 per cent during June 2016 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for April-August, 2016-17 was estimated at US$ 34669.55 million which was 40.61% lower than the deficit of US$ 58380.42 million during April-August, 2015-16. SERVICES : As per RBI s Press Release dated 15 th September 2016, the trade balance in Services (i.e. net export of Services) for July, 2016 was estimated at US$ 5366 million. The net export of services for Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ril- July, 2016-17 was estimated at US$ 21562 million which is lower than net export of services of US$ 22371 million during April- July, 2015-16. (The data for April-July 2015-16 and 2016-17 has been derived by adding April-July month wise QE data of RBI Press Release). OVERALL TRADE BALANCE: Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- August 2016-17 is estimated at US$ 13107.55 million which is 63.60 percent lower in Dollar terms than the level of US$ 36009.42 million during April-August 2015-16. (Services data pertains to April-July 2016 as July 2016 is the latest data available as per RBI s Press Release dated 15 th September 2016) MERCHANDISE TRADE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORTS IMPORTS : (US $ Million) (PROVISIONAL) AUGUST APRIL-AUGUST EXPORTS(including re-exports) 2015-16 21582.67 111853.88 2016-17 21518.60 108519.94 %Growth2016-17/ 2015-16 -0.30 -2.98 IMPORTS 2015-16 33981.73 170234.30 2016-17 29192.74 143189.49 %Growth2016-17/ 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5-16 -14.09 -15.89 TRADE BALANCE 2015-16 -12399.06 -58380.42 2016-17 -7674.14 -34669.55 EXPORTS IMPORTS : (Rs. Crore) (PROVISIONAL) AUGUST APRIL-AUGUST EXPORTS(including re-exports) 2015-16 140443.43 713808.46 2016-17 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 144044.67 726776.04 %Growth2016-17/ 2015-16 2.56 1.82 IMPORTS 2015-16 221126.92 1086515.26 2016-17 195415.03 959102.25 %Growth2016-17/ 2015-16 -11.63 -11.73 TRADE BALANCE 2015-16 -80683.49 -372706.80 2016-17 -51370.36 -232326.21 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) July 2016-17 EXPORTS (Receipts) 12775.00 IMPORTS (Payments) 7409.00 TRADE BALANCE 5366.00 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) July 2016-17 EXPORTS (Receipts) 85857.71 IMPORTS (Payments) 49794.11 TRADE BALANCE 36063.60 Source: RBI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Press Release dated 15th September 2016 - 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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