TMI BlogIndia’s Foreign Trade: March 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: March 2018 - News and Press Release Dated:- 13-4-2018 - News - Ministry of Commerce Industry India s Foreign Trade: March 2018 Posted On: 13 APR 2018 5:45PM by PIB Delhi India's foreign Trade for April March 2017-18 Merchandise (P) Services* (P) Merchandise + Services (P) Values in USD billions %Growth Values in USD billions %Growth Values in USD billions Exports 302.84 9.78 175.31 17.63 478.15 Import 459.67 19.59 105.65 19.74 565.32 Trade Balance -156.83 44.54 69.66 14.56 -87.17 Source: DGCI S for Merchandise; for Services RBI Note 2-Services data for 2017-18 pertains to April-Feb 2018 as Fe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b 2018 is the latest data available as per RBI s Press Release. Note 3- P : Provisionals I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports during 2017-18 are at US $ 302.84 Billion registering a growth of 9.78 per cent in dollar terms vis- -vis 2016-17. Exports during March 2018 were valued at US $ 29.11 Billion as compared to US $ 29.30 Billion during March 2017 exhibited negative growth of 0.66 per cent. In Rupee terms, exports were valued at ₹ 189271.16 crore as compared to ₹ 193028.91 crore during March 2017, registering a fall of 1.95 per cent. During March 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-March 2017-18 was US $ 302.84 Billion (Rs 1952168.79 crore) as against US $ 275.85 Billion (Rs 1849428.76 crore) registering a positive growth of 9.78 per cent in Dollar terms and 5.56 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems Jewellery exports in March 2018 were valued at US $ 22.42 Billion as against US $ 21.44 Billion in Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rch 2017, an increase of 4.60%. Non-petroleum and Non Gems and Jewellery exports during April-March 2017-18 were valued at US $ 222.45 Billion as compared to US $ 200.89 Billion for the corresponding period in 2016-17, an increase of 10.73%. IMPORTS Imports during March 2018 were valued at US $ 42.80 Billion (Rs 278296.95 crore) which was 7.15 per cent higher in Dollar terms and 5.75 per cent higher in Rupee terms over the level of imports valued at US $ 39.95 Billion (Rs. 263155.49 crore) in March 2017. Cumulative value of imports for the period April-March 2017-18 was US $ 459.67 Billion (Rs. 2962897.70 crore) as against US $ 384.36 Billion (Rs. 2577665.59 crore) registering a positive growth of 19.59 per cent in Dollar terms and 14.94 per cent in Rupee terms over the same period last year. Major commodity groups of import showing high growth in March 2018 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports during March 2018 were valued at US $ 11.11 Billion which was 13.92 percent higher than oil imports valued at US $ 9.75 Billion in March 2017. Oil imports during April- March 2017-18 were valued at US $ 109.11 B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illion which was 25.47 per cent higher than the oil imports of US $ 86.96 Billion in the corresponding period last year. In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 27.86 % in March 2018 vis- -vis March 2017 as per World Bank commodity price data (The pink sheet). Non-oil imports during March 2018 were estimated at US $ 31.69 Billion which was 4.96 per cent higher than non-oil imports of US $ 30.20 Billion in March 2017. Non-oil imports during April-March 2017-18 were valued at US $ 350.56 Billion which was 17.88 per cent higher than the level of such imports valued at US $ 297.39 Billion in April-March, 2016-17. II. TRADE IN SERVICES (for February, 2018, as per the RBI Press Release dated 13th April 2018) EXPORTS (Receipts) Exports during February 2018 were valued at US $ 15.71 Billion (Rs. 101124.86 Crore) registering a negative growth of 3.84 per cent in dollar terms as compared to positive growth of 2.07 per cent during January 2018 (as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during February 2018 were valued at US $ 10.14 Billion (Rs. 65294.38 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Crore) registering a positive growth of 3.10 per cent in dollar terms as compared to negative growth of 0.12 per cent during January 2018 (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for March 2018 was estimated at US $ 13.69 Billion as against the deficit of US $ 10.65 Billion during March 2017. SERVICES : As per RBI s Press Release dated 13th April 2018, the trade balance in Services (i.e. net export of Services) for February, 2018 was estimated at US $ 5.57 Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2017-18 is estimated at US $ 87.17 Billion as compared to US $ 47.70 Billion during April-March 2016-17. (Services data pertains to April-February 2017-18 as February 2018 is the latest data available as per RBI s Press Release dated 13th April 2018) MERCHANDISE TRADE EXPORTS IMPORTS: (US $ Billion) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS (including re-exports) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016-17 29.30 275.85 2017-18 29.11 302.84 %Growth 2017-18/ 2016-17 -0.66 9.78 IMPORTS 2016-17 39.95 384.36 2017-18 42.80 459.67 %Growth 2017-18/ 2016-17 7.15 19.59 TRADE BALANCE 2016-17 -10.65 -108.50 2017-18 -13.69 -156.83 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS(including re-exports) 2016-17 193028.91 1849428.76 2017-18 189271.16 19521 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 68.79 %Growth 2017-18/ 2016-17 -1.95 5.56 IMPORTS 2016-17 263155.49 2577665.59 2017-18 278296.95 2962897.70 %Growth 2017-18/ 2016-17 5.75 14.94 TRADE BALANCE 2016-17 -70126.58 -728236.83 2017-18 -89025.79 -1010728.92 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (Provisional) February 2018 EXPORTS (Receipts) 15.71 IMPORTS (Payments) 10.14 TRADE BALANCE 5.57 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) February 2018 EXPORTS (Receipts) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 101124.86 IMPORTS (Payments) 65294.38 TRADE BALANCE 35830.48 Source: RBI Press Release dated 13th April, 2018 QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018 TRADE: EXPORT Sl. No. Commodities (Values in Rs. crores) % change MAR'17 MAR'18 MAR'18 1 Tea 426.57 442.92 3.83 2 Coffee 714.62 748.02 4.67 3 Rice 4221.77 5038.40 19.34 4 Other cereals 91.22 252.45 176.75 5 Tobacco 612.26 593.24 -3.11 6 Spices 2214.77 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2284.31 3.14 7 Cashew 613.22 359.11 -41.44 8 Oil Meals 766.63 427.48 -44.24 9 Oil seeds 846.66 715.58 -15.48 10 Fruits Vegetables 1920.80 1972.90 2.71 11 Cereal preparations miscellaneous processed items 768.17 917.23 19.40 12 Marine Products 3335.11 3676.63 10.24 13 Meat, dairy poultry products 2841.53 2684.71 -5.52 14 Iron Ore 1561.31 1148.01 -26.47 15 Mica, Coal Other Ores, Minerals including processed minerals 2869.72 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2523.33 -12.07 16 Leather leather products 2793.08 2863.89 2.54 17 Ceramic products glassware 1160.90 1305.00 12.41 18 Gems Jewellery 27081.60 22300.49 -17.65 19 Drugs Pharmaceuticals 10675.66 11422.19 6.99 20 Organic Inorganic Chemicals 9863.04 12826.21 30.04 21 Engineering Goods 52086.43 52754.58 1.28 22 Electronic Goods 3993.91 4539.23 13.65 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 5883.91 6636.20 12.79 24 Man-made Yarn/Fabs./made- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ups etc. 2890.86 3048.20 5.44 25 RMG of all Textiles 11946.37 9694.68 -18.85 26 Jute Mfg. including Floor Covering 176.95 161.77 -8.58 27 Carpet 916.43 819.23 -10.61 28 Handicrafts excl. handmade carpet 1136.93 1209.34 6.37 29 Petroleum Products 24735.26 21185.44 -14.35 30 Plastic Linoleum 3774.06 4725.66 25.21 Sub-Total 182919.75 179276.43 -1.99 GRAND TOTAL 193028.91 189271.16 -1.95 Note: The figures for MARCH'18 and MARCH' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018 TRADE: EXPORT Sl. No. Commodities (Values in Million USD) % change MAR'17 MAR'18 MAR'18 1 Tea 64.75 68.12 5.20 2 Coffee 108.48 115.04 6.05 3 Rice 640.86 774.88 20.91 4 Other cereals 13.85 38.83 180.36 5 Tobacco 92.94 91.24 -1.83 6 Spices 336.20 351.32 4.50 7 Cashew 93.09 55.23 -40.67 8 Oil Meals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 116.37 65.74 -43.51 9 Oil seeds 128.52 110.05 -14.37 10 Fruits Vegetables 291.58 303.42 4.06 11 Cereal preparations miscellaneous processed items 116.61 141.07 20.98 12 Marine Products 506.27 565.45 11.69 13 Meat, dairy poultry products 431.34 412.90 -4.28 14 Iron Ore 237.00 176.56 -25.50 15 Mica, Coal Other Ores, Minerals including processed minerals 435.62 388.08 -10.91 16 Leather leather products 423.99 440.45 3.88 17 Ceramic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... products glassware 176.22 200.70 13.89 18 Gems Jewellery 4110.95 3429.72 -16.57 19 Drugs Pharmaceuticals 1620.55 1756.68 8.40 20 Organic Inorganic Chemicals 1497.20 1972.62 31.75 21 Engineering Goods 7906.65 8113.43 2.62 22 Electronic Goods 606.27 698.11 15.15 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 893.17 1020.62 14.27 24 Man-made Yarn/Fabs./made-ups etc. 438.83 468.80 6.83 25 RMG of all Textiles 1813.44 1491.00 -17.78 26 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Jute Mfg. including Floor Covering 26.86 24.88 -7.37 27 Carpet 139.11 125.99 -9.43 28 Handicrafts excl. handmade carpet 172.58 185.99 7.77 29 Petroleum Products 3754.78 3258.23 -13.22 30 Plastic Linoleum 572.90 726.79 26.86 Sub-Total 27766.98 27571.94 -0.70 GRAND TOTAL 29301.55 29109.09 -0.66 Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018 TRADE: IMPORT Sl. No. Commodities (Values in Rs. crores) % ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... change MAR'17 MAR'18 MAR'18 1 Cotton Raw Waste 368.09 347.36 -5.63 2 Vegetable Oil 6989.59 5476.87 -21.64 3 Pulses 2106.15 343.08 -83.71 4 Fruits vegetables 1044.50 996.80 -4.57 5 Pulp and Waste paper 651.61 549.10 -15.73 6 Textile yarn Fabric, made-up articles 757.24 936.59 23.68 7 Fertilisers, Crude manufactured 1109.72 2078.60 87.31 8 Sulphur Unroasted Iron Pyrites 82.12 129.60 57.82 9 Metalliferous ores othe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r minerals 3035.73 5529.44 82.15 10 Coal, Coke Briquettes, etc. 11224.45 16027.81 42.79 11 Petroleum, Crude products 64231.88 72223.87 12.44 12 Wood Wood products 2573.69 3571.56 38.77 13 Leather leather products 495.24 526.24 6.26 14 Organic Inorganic Chemicals 10520.53 13295.53 26.38 15 Dyeing/tanning/colouring materials. 1657.17 1608.57 -2.93 16 Artificial resins, plastic materials, etc. 7083.49 9000.62 27.06 17 Chemical material products 3254.16 4004.36 23.05 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18 Newsprint 501.23 354.93 -29.19 19 Pearls, precious Semi-precious stones 19821.18 19716.17 -0.53 20 Iron Steel 6421.86 8771.06 36.58 21 Non-ferrous metals 5732.39 8101.74 41.33 22 Machine tools 2133.77 2181.86 2.25 23 Machinery, electrical non-electrical 16823.82 22153.53 31.68 24 Transport equipment 9027.18 11825.10 30.99 25 Project goods 1367.04 920.49 -32.67 26 Professional instrument, Optical goods, etc. 2636.27 3026.11 14.79 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 27 Electronic goods 31847.46 32230.59 1.20 28 Medicinal Pharmaceutical products 2962.73 3180.72 7.36 29 Gold 27527.15 16218.59 -41.08 30 Silver 1345.07 1738.20 29.23 Sub-Total 245332.51 267065.09 8.86 GRAND TOTAL 263155.49 278296.95 5.75 Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018 TRADE: IMPORT Sl. No. Commodities (Values in Million USD) % change MAR'17 MAR'18 MAR'18 1 Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tton Raw Waste 55.88 53.42 -4.40 2 Vegetable Oil 1061.01 842.32 -20.61 3 Pulses 319.71 52.76 -83.50 4 Fruits vegetables 158.55 153.30 -3.31 5 Pulp and Waste paper 98.91 84.45 -14.62 6 Textile yarn Fabric, made-up articles 114.95 144.04 25.31 7 Fertilisers, Crude manufactured 168.45 319.68 89.78 8 Sulphur Unroasted Iron Pyrites 12.47 19.93 59.82 9 Metalliferous ores other minerals 460.82 850.40 84.54 10 Coal, Coke Briquettes, etc. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1703.86 2465.01 44.67 11 Petroleum, Crude products 9750.32 11107.72 13.92 12 Wood Wood products 390.68 549.29 40.60 13 Leather leather products 75.18 80.93 7.65 14 Organic Inorganic Chemicals 1597.00 2044.80 28.04 15 Dyeing/tanning/colouring materials. 251.56 247.39 -1.66 16 Artificial resins, plastic materials, etc. 1075.26 1384.26 28.74 17 Chemical material products 493.98 615.85 24.67 18 Newsprint 76.09 54.59 -28.26 19 Pearls, precious Semi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -precious stones 3008.83 3032.26 0.78 20 Iron Steel 974.83 1348.95 38.38 21 Non-ferrous metals 870.17 1246.01 43.19 22 Machine tools 323.90 335.56 3.60 23 Machinery, electrical non-electrical 2553.83 3407.12 33.41 24 Transport equipment 1370.31 1818.65 32.72 25 Project goods 207.51 141.57 -31.78 26 Professional instrument, Optical goods, etc. 400.18 465.40 16.30 27 Electronic goods 4834.40 4956.93 2.53 28 Medicinal Pharmaceutical products ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 449.74 489.18 8.77 29 Gold 4178.59 2494.35 -40.31 30 Silver 204.18 267.33 30.93 Sub-Total 37241.15 41073.45 10.29 GRAND TOTAL 39946.67 42800.89 7.15 Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change. *** - 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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