TMI BlogINDIA’S FOREIGN TRADE: December, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: December, 2016 - News and Press Release Dated:- 13-1-2017 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) In consonance with the revival exhibited by exports in the last three months, during December,2016 exports continue to show a positive growth of 5.72 per cent in dollar terms (valued at US$ 23884.97 million) and 7.79 per cent in Rupee terms (valued at ₹ 162179.89 crore) as compared to US$ 22593.35 million (Rs. 150461.57 crore) during December,2015. Cumulative value of exports for the period April-December 2016-17 was US$ 198807.75 million (Rs. 1333913.57 crore) as against US$ 197333.62 million (Rs. 1278004.37 crore) registering a positive growth of 0.75 per cent in Dollar terms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and positive growth of 4.37 per cent in Rupee terms over the same period last year. Non-petroleum exports in December 2016 were valued at US$ 21117.73 million against US$ 20036.19 million in December 2015, an increase of 5.4 %. Non-petroleum exports during April - December 2016-17 were valued at US$ 176831.24 million as compared to US$ 172960.12 million for the corresponding period in 2015, an increase of 2.2%. The growth in exports is negative for USA (-1.21%),China(-7.45%) and EU(-6.27%) but exhibited positive growth in case of Japan(3.79%) for October 2016 over the corresponding period of previous year as per latest WTO statistics. IMPORTS Imports during December 2016 were valued at US$ 34254.32 million (Rs. 232588.18 cror ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e) which was 0.46 per cent higher in Dollar terms and 2.43 per cent higher in Rupee terms over the level of imports valued at US$ 34096.49 million (Rs. 227067.28 crore) in December, 2015. Cumulative value of imports for the period April-December 2016-17 was US$ 275355.92 million (Rs. 1848099.10 crore) as against US$ 297410.85 million (Rs. 1926024.55 crore) registering a negative growth of 7.42 per cent in Dollar terms and 4.05 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during December, 2016 were valued at US$ 7645.42 million which was 14.61 percent higher than oil imports valued at US$ 6670.61 million in December 2015. Oil imports during April-December, 2016-17 were valued at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... US$ 60921.83 million which was 10.76 per cent lower than the oil imports of US$ 68267.37 million in the corresponding period last year. Non-oil imports during December, 2016 were estimated at US$ 26608.90 million which was 2.98 per cent lower than non-oil imports of US$ 27425.88 million in December, 2015. Non-oil imports during April-December 2016-17 were valued at US$ 214434.09 million which was 6.42 per cent lower than the level of such imports valued at US$ 229143.48 million in April-December, 2015-16. II. TRADE IN SERVICES (for November, 2016, as per the RBI Press Release dated 13th January 2017) EXPORTS (Receipts) Exports during November 2016 were valued at US$ 13338 Million (Rs. 90199.16 Crore) registering a positiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e growth of 1.72 per cent in dollar terms as compared to negative growth of 4.79 per cent during October 2016 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during November 2016 were valued at US$ 8323 Million (Rs. 56284.87 Crore) registering a positive growth of 8.37 per cent in dollar terms as compared to negative growth of 7.51 per cent during October 2016 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for April-December, 2016-17 was estimated at US$ 76548.17 million which was 23.51% lower than the deficit of US$ 100077.23 million during April-December, 2015-16. SERVICES : As per RBI s Press Release dated 13th January 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7, the trade balance in Services (i.e. net export of Services) for November, 2016 was estimated at US$ 5015 million. The net export of services for April- November, 2016-17 was estimated at US$ 42806 million which is lower than net export of services of US$ 46706 million during April- November, 2015-16. (The data for April-November 2015-16 and 2016-17 has been derived by adding April-November 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- December 2016-17 is estimated at US$ 33742.17 million which is 36.78 percent lower in Dollar terms than the level of US$ 53371.23 million during April-December 2015-16. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Services data pertains to April-November 2016-17 as November 2016 is the latest data available as per RBI s Press Release dated 13th January 2017) MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Million) (Provisional) EXPORTS (including re-exports) DECEMBER APRIL-DECEMBER 2015-16 22593.35 197333.62 2016-17 23884.97 198807.75 % Growth 2016-17/ 2015-16 5.72 0.75 IMPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2015-16 34096.49 297410.85 2016-17 34254.32 275355.92 % Growth 2016-17/ 2015-16 0.46 -7.42 TRADE BALANCE 2015-16 -11503.14 -100077.23 2016-17 -10369.35 -76548.17 EXPORTS IMPORTS : (Rs. Crore) (Provisional) EXPORTS ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... including re-exports) DECEMBER APRIL-DECEMBER 2015-16 150461.57 1278004.37 2016-17 162179.89 1333913.57 % Growth 2016-17/ 2015-16 7.79 4.37 IMPORTS 2015-16 227067.28 1926024.55 2016-17 232588.18 1848099.10 % Growth 2016-17/ 2015-16 2.43 -4.05 TRADE BALANCE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2015-16 -76605.71 -648020.18 2016-17 -70408.29 -514185.53 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (Provisional) November 2016-17 EXPORTS (Receipts) 13338.00 IMPORTS (Payments) 8323.00 TRADE BALANCE 5015.00 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) November 2016-17 EXPORTS (Receipts) 90199.16 IMPORTS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Payments) 56284.87 TRADE BALANCE 33914.29 Source: RBI Press Release dated 13 th January 2017 - 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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