TMI BlogIndia’s Foreign Trade: February, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: February, 2017 - News and Press Release Dated:- 16-3-2017 - News - Press Information Bureau Government of India Ministry of Commerce Industry 15-March-2017 18:44 IST I. MERCHANDISE TRADE EXPORTS (including re-exports) In continuation with the revival exhibited by exports since September 2016, exports during February 2017 for the first time exhibited a double digit positive growth of 17.48 per cent in dollar terms valued at US$ 24490.27 million as compared to US$ 20845.73 million during February,2016. In Rupee terms, during February 2017 exports were valued at ₹ 164269.71 crore as compared to ₹ 142246.46 crore during February,2016, registering a positive growth of 15.48 pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r cent. Cumulative value of exports for the period April-February 2016-17 was US$ 245413.05 million (Rs. 1648743.26 crore) as against US$ 239378.37 million (Rs. 1562819.14 crore) registering a positive growth of 2.52 per cent in Dollar terms and positive growth of 5.50 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems Jewellery exports in February 2017 were valued at US$ 18011.73 million against US$ 14990.68 million in February 2016, an increase of 20.15 %. Non-petroleum and Non Gems and Jewellery exports during April - February 2016-17 were valued at US$ 179136.99 million as compared to US$ 175352.94 million for the corresponding period in 2016, an increase of 2.16%. In this connection it is mention ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the global Brent prices ($/bbl) and Gold ($/troy oz) have increased by 67.14% and 2.89% respectively in February 2017 vis- -vis February 2016 as per World Bank commodity price data (The pink sheet). The growth in exports is positive for USA (5.61%), EU(1.68%) and Japan(10.87%) but China has exhibited negative growth of (-6.20%) for December 2016 over the corresponding period of previous year as per latest WTO statistics. IMPORTS Imports during February 2017 were valued at US$ 33386.57 million (Rs. 223942.06 crore) which was 21.76 per cent higher in Dollar terms and 19.69 per cent higher in Rupee terms over the level of imports valued at US$ 27418.98 million (Rs. 187100.79 crore) in February, 2016. Cumulative value of im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ports for the period April-February 2016-17 was US$ 340698.43 million (Rs. 2289598.48 crore) as against US$ 353696.36 million (Rs. 2307259.36 crore) registering a negative growth of 3.67 per cent in Dollar terms and 0.77 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during February, 2017 were valued at US$ 7681.20 million which was 60.02 percent higher than oil imports valued at US$ 4800.20 million in February 2016. Oil imports during April-February, 2016-17 were valued at US$ 76743.86 million which was 1.76 per cent lower than the oil imports of US$ 78121.86 million in the corresponding period last year. Non-oil imports during February, 2017 were estimated at US$ 25705.37 mil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lion which was 13.65 per cent higher than non-oil imports of US$ 22618.78 million in February, 2016. Non-oil imports during April-February 2016-17 were valued at US$ 263954.57 million which was 4.22 per cent lower than the level of such imports valued at US$ 275574.50 million in April-February, 2015-16. II. TRADE IN SERVICES (for January, 2017, as per the RBI Press Release dated 15th March, 2017) EXPORTS (Receipts) Exports during January 2017 were valued at US$ 13570 Million (Rs. 92385.10 Crore) registering a negative growth of 1.70 per cent in dollar terms as compared to positive growth of 3.49 per cent during December 2016 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during Jan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uary 2017 were valued at US$ 8409 Million (Rs. 57248.81 Crore) registering a positive growth of 1.39 per cent in dollar terms as compared to negative growth of 0.35 per cent during December 2016 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE: The trade deficit for April-February, 2016-17 was estimated at US$ 95285.38 million which was 16.65% lower than the deficit of US$ 114317.99 million during April-February, 2015-16. SERVICES: As per RBI s Press Release dated 15th March 2017, the trade balance in Services (i.e. net export of Services) for January, 2017 was estimated at US$ 5161 million. The net export of services for April- January, 2016-17 was estimated at US$ 53477 million which is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lower than net export of services of US$ 59289 million during April- January, 2015-16. (The data for April-January 2015-16 and 2016-17 has been derived by adding April-January 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- February 2016-17 is estimated at US$ 41808.38 million which is 24.0 percent lower in Dollar terms than the level of US$ 55028.99 million during April-February 2015-16. (Services data pertains to April-January 2016-17 as January 2017 is the latest data available as per RBI s Press Release dated 15th March 2017) MERCHANDISE TRADE EXPORTS IMPORTS : (US ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... $ Million) (Provisional) EXPORTS (including re-exports) FEBRUARY APRIL-FEBRUARY 2015-16 20845.73 239378.37 2016-17 24490.27 245413.05 % Growth 2016-17/ 2015-16 17.48 2.52 IMPORTS 2015-16 27418.98 353696.36 2016-17 33386.57 340698.43 % Growth 2016-17/ 2015-16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21.76 -3.67 TRADE BALANCE 2015-16 -6573.25 -114317.99 2016-17 -8896.30 -95285.38 EXPORTS IMPORTS: (Rs. Crore) (Provisional) EXPORTS (including re-exports) FEBRUARY APRIL-FEBRUARY 2015-16 142246.46 1562819.14 2016-17 164269.71 1648743.26 % Growth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016-17/ 2015-16 15.48 5.50 IMPORTS 2015-16 187100.79 2307259.36 2016-17 223942.06 2289598.48 % Growth 2016-17/ 2015-16 19.69 -0.77 TRADE BALANCE 2015-16 -44854.33 -744440.22 2016-17 -59672.35 -640855.22 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Million) (Provisional) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... January 2016-17 EXPORTS (Receipts) 13570.00 IMPORTS (Payments) 8409.00 TRADE BALANCE 5161.00 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) January 2016-17 EXPORTS (Receipts) 92385.10 IMPORTS (Payments) 57248.81 TRADE BALANCE 35136.29 Source: RBI Press Release dated 15 th March,2017 MJPS - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TM ..... 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