TMI BlogINDIA’S FOREIGN TRADE: May 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: May 2018 - News and Press Release Dated:- 15-6-2018 - News - I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports during May 2018 were valued at US $ 28.86 Billion as compared to US $ 24.01 Billion during May 2017 exhibiting a positive growth of 20.18 per cent. In Rupee terms, exports were valued at ₹ 194928.45 crore in May 2018 as compared to ₹ 154713.69 crore during May 2017, registering a positive growth of 25.99 per cent. During May 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-May2018-19 was US$54.77Billion (Rs364981.41crore) as against US $48.65 Billion (Rs313627.48 crore) registering a positive growth of 12.58 per cent in Dollar terms and 16.37 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems and Jewelleryexports during May 2018 were valued at US $ 19.94 Billion as compared to US $ 17.51 Billion during May 2017 exhibiting a positive growth of 13.85 per cent. Non-petroleum and Non Gems andJewellery exports during April-May2018-19 were va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lued at US$ 39.74Billion as compared to US$ 35.23Billion for the corresponding period in 2017-18, an increase of 12.78%. IMPORTS Imports during May 2018 were valued at US$ 43.48 Billion (Rs293660.48 crore) which was 14.85 per cent higher in Dollar terms and 20.41 per cent higher in Rupee terms over the level of imports valued at US$ 37.86 Billion (Rs. 243888.74crore) in May 2017. Cumulative value of imports for the period April-May2018-19 was US$ 83.11 Billion (Rs. 553745.15 crore) as against US$ 75.74 Billion (Rs. 488269.26crore) registering a positive growth of 9.72 per cent in Dollar terms and 13.41 per cent in Rupee terms over the same period last year. Major commodity groups of import showing high growth in May 2018 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports during May 2018 were valued at US$ 11.50Billion(Rs. 77654.11 crore) which was 49.46 percent higher in Dollar terms and 56.69 percent higher in Rupee terms compared to US$ 7.69 Billion (Rs. 49560.16 crore) in May 2017.Oil imports during April-May2018-19 were valued at US$ 21.91 Billion (Rs. 145998.35 crore) which was 45.56 per cent higher in Dolla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r terms and 50.46 percent higher in Rupee terms compared to US$ 15.05 Billion (Rs. 97032.66 crore) in the corresponding period last year. In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 50.68% in May 2018 vis- -vis May 2017 as per World Bank commodity price data (The pink sheet). Non-oil imports during May 2018 were estimated at US$ 31.98 Billion(Rs.216006.37 crore) which was 6.03 per cent higherin Dollar terms and 11.16 percent higher in Rupee terms compared to US$ 30.16Billion (Rs. 194328.58 crore) in May 2017.Non-oil imports during April-May2018-19 were valued at US$ 61.19 Billion(Rs.407746.80 crore) which was 0.83 per cent higher in Dollar terms and 4.22 percent higher in Rupee terms compared to US$ 60.69 Billion (Rs. 391236.60 crore in April-May, 2017-18. Non-Oil and Non-Gold imports in May 2018 valued at US $ 28.50 billion has recorded a positive growth of 13.09% as compared to Non-Oil and non-Gold import in May 2017. Non-Oil and Non-Gold imports in April-May 2018 valued at US $ 55.14 billion has recorded a positive growth of 6.28 % as compared to Non-Oil and Non-Gold import in April-May 2017. II. TRADE IN SERVICES (for A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pril, 2018, as per the RBI Press Release dated 15th June 2018) EXPORTS (Receipts) Exports during April2018 were valued at US$ 17.56 Billion (Rs. 115277.03 Crore) registering apositive growth of 4.33per cent in dollar terms as compared to positive growth of 7.16per cent during March 2018(as per RBI s Press Release for the respective months). IMPORTS (Payments) Imports during April2018 were valued at US$ 10.92Billion (Rs. 71642.02Crore) registering a positivegrowth of 6.18per cent in dollar terms as compared topositivegrowth of 1.35per cent during March2018(as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for May 2018 was estimated at US$ 14.62 Billionas against the deficit of US$ 13.84 Billion during May 2017. SERVICES : As per RBI s Press Release dated 15th June 2018, the trade balance in Services (i.e. net export of Services) for April,2018 was estimated at US$ 6.65Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-May2018-19 is estimated at US$ 21.69 Billion as compared to US$ 21.41 Billion during April-May2017-18. (Services data per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tains to April 2018 as it is the latest data available as per RBI s Press Release dated 15th June 2018) MERCHANDISE TRADE EXPORTS IMPORTS: (US $ Billion) (PROVISIONAL) MAY APRIL-MAY EXPORTS (including re-exports) 2017-18 24.01 48.65 2018-19 28.86 54.77 %Growth 2018-19/ 2017-18 20.18 12.58 IMPORTS 2017-18 37.86 75.74 2018-19 43.48 83.11 %Growth 2018-19/ 2017-18 14.85 9.72 TRADE BALANCE 2017-18 -13.84 -27.09 2018-19 -14.62 -28.34 EXPORTS I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MPORTS: (Rs. Crore) (PROVISIONAL) MAY APRIL-MAY EXPORTS(including re-exports) 2017-18 154713.69 313627.48 2018-19 194928.45 364981.41 %Growth 2018-19/ 2017-18 25.99 16.37 IMPORTS 2017-18 243888.74 488269.26 2018-19 293660.48 553745.15 %Growth 2018-19/ 2017-18 20.41 13.41 TRADE BALANCE 2017-18 -89175.05 -174641.78 2018-19 -98732.03 -188763.74 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (Provisional) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April 2018 EXPORTS (Receipts) 17.56 IMPORTS (Payments) 10.92 TRADE BALANCE 6.65 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) April 2018 EXPORTS (Receipts) 115277.03 IMPORTS (Payments) 71642.02 TRADE BALANCE 43635.01 Source: RBI Press Release dated 15th June, 2018 QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2018 TRADE: EXPORT Sl. No. Commodities (Values in Rs. crores) % change MAY'17 MAY'18 MAY'18 1 Tea 319.44 369.54 15.68 2 Coffee 557.80 576.67 3.38 3 Rice 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 121.53 4979.26 20.81 4 Other cereals 93.00 286.87 208.46 5 Tobacco 468.24 570.09 21.75 6 Spices 1660.74 1856.89 11.81 7 Cashew 540.25 357.66 -33.80 8 Oil Meals 425.10 563.00 32.44 9 Oil seeds 450.78 604.23 34.04 10 Fruits Vegetables 1127.83 1200.68 6.46 11 Cereal preparations miscellaneous processed items 711.71 787.19 10.61 12 Marine Products 3523.30 3772.84 7.08 13 Meat, dairy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... poultry products 2033.38 2443.47 20.17 14 Iron Ore 727.78 577.49 -20.65 15 Mica, Coal Other Ores, Minerals including processed minerals 1972.43 2345.01 18.89 16 Leather leather products 2691.26 2876.47 6.88 17 Ceramic products glassware 1127.37 1378.20 22.25 18 Gems Jewellery 25374.08 24878.83 -1.95 19 Drugs Pharmaceuticals 7784.87 10255.98 31.74 20 Organic Inorganic Chemicals 8274.89 11642.21 40.69 21 Engineering Goods 40111.96 48262.65 20.32 22 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Electronic Goods 3275.68 4076.60 24.45 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 4860.78 6354.49 30.73 24 Man-made Yarn/Fabs./made-ups etc. 2396.60 2828.58 18.02 25 RMG of all Textiles 10342.55 9040.63 -12.59 26 Jute Mfg. including Floor Covering 162.54 181.27 11.52 27 Carpet 788.53 826.18 4.77 28 Handicrafts excl. handmade carpet 974.70 998.62 2.45 29 Petroleum Products 16503.70 35375.76 114.35 30 Plastic Linoleum 3220.08 4592.45 42.62 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sub-Total 146622.90 184859.81 26.08 GRAND TOTAL 154713.69 194928.45 25.99 Note: The figures for MAY'18 and MAY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2018 TRADE: EXPORT Sl. No. Commodities (Values in Million USD) % change MAY'17 MAY'18 MAY'18 1 Tea 49.58 54.71 10.35 2 Coffee 86.58 85.38 -1.39 3 Rice 639.74 737.24 15.24 4 Other cereals 14.44 42.47 194.11 5 Tobacco 72.68 84.41 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16.14 6 Spices 257.78 274.93 6.65 7 Cashew 83.86 52.96 -36.85 8 Oil Meals 65.98 83.36 26.34 9 Oil seeds 69.97 89.46 27.85 10 Fruits Vegetables 175.06 177.77 1.55 11 Cereal preparations miscellaneous processed items 110.47 116.55 5.50 12 Marine Products 546.89 558.61 2.14 13 Meat, dairy poultry products 315.62 361.78 14.63 14 Iron Ore 112.97 85.50 -24.32 15 Mica, Coal Other Ores, Minerals including pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ocessed minerals 306.16 347.21 13.41 16 Leather leather products 417.74 425.90 1.95 17 Ceramic products glassware 174.99 204.06 16.61 18 Gems Jewellery 3938.56 3683.60 -6.47 19 Drugs Pharmaceuticals 1208.37 1518.52 25.67 20 Organic Inorganic Chemicals 1284.43 1723.77 34.21 21 Engineering Goods 6226.17 7145.85 14.77 22 Electronic Goods 508.45 603.59 18.71 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 754.49 940.86 24.70 24 Man-made Y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arn/Fabs./made-ups etc. 372.00 418.80 12.58 25 RMG of all Textiles 1605.37 1338.57 -16.62 26 Jute Mfg. including Floor Covering 25.23 26.84 6.38 27 Carpet 122.40 122.33 -0.06 28 Handicrafts excl. handmade carpet 151.29 147.86 -2.27 29 Petroleum Products 2561.70 5237.80 104.47 30 Plastic Linoleum 499.82 679.97 36.04 Sub-Total 22758.79 27370.66 20.26 GRAND TOTAL 24014.62 28861.44 20.18 Note 1: Exports include Re-Exports. Note 2: The figures fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r MAY'18 and MAY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2018 TRADE: IMPORT Sl. No. Commodities (Values in Rs. crores) % change MAY'17 MAY'18 MAY'18 1 Cotton Raw Waste 741.54 488.72 -34.09 2 Vegetable Oil 6967.61 6228.01 -10.61 3 Pulses 1906.36 268.79 -85.90 4 Fruits vegetables 1166.29 1206.93 3.48 5 Pulp and Waste paper 669.64 637.78 -4.76 6 Textile yarn Fabric, made-up articles 1022.67 1088.50 6.44 7 Fertilisers, Crude manufactur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 3182.43 5787.40 81.85 8 Sulphur Unroasted Iron Pyrites 48.17 48.29 0.25 9 Metalliferous ores other minerals 3924.94 3503.03 -10.75 10 Coal, Coke Briquettes, etc. 11893.80 14698.71 23.58 11 Petroleum, Crude products 49560.16 77654.11 56.69 12 Wood Wood products 3185.20 3497.59 9.81 13 Leather leather products 551.88 590.42 6.98 14 Organic Inorganic Chemicals 10542.33 14175.44 34.46 15 Dyeing/tanning/colouring materials. 1532.48 1914.13 24.90 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Artificial resins, plastic materials, etc. 7842.39 9191.99 17.21 17 Chemical material products 3500.84 4640.03 32.54 18 Newsprint 483.12 509.64 5.49 19 Pearls, precious Semi-precious stones 19021.51 15001.87 -21.13 20 Iron Steel 6835.40 9968.04 45.83 21 Non-ferrous metals 6623.43 8365.57 26.30 22 Machine tools 1603.58 2664.81 66.18 23 Machinery, electrical non-electrical 15884.76 21791.83 37.19 24 Transport equipment 6679.73 8377.98 25.42 25 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Project goods 985.18 1530.57 55.36 26 Professional instrument, Optical goods, etc. 2211.76 2819.06 27.46 27 Electronic goods 26792.44 33685.69 25.73 28 Medicinal Pharmaceutical products 2866.68 3664.18 27.82 29 Gold 31945.67 23494.54 -26.45 30 Silver 2853.47 3005.67 5.33 Sub-Total 233025.46 280499.32 20.37 GRAND TOTAL 243888.74 293660.48 20.41 Note: The figures for MAY'18 and MAY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2018 TRADE: IM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PORT Sl. No. Commodities (Values in Million USD) % change MAY'17 MAY'18 MAY'18 1 Cotton Raw Waste 115.10 72.36 -37.13 2 Vegetable Oil 1081.51 922.13 -14.74 3 Pulses 295.90 39.80 -86.55 4 Fruits vegetables 181.03 178.70 -1.29 5 Pulp and Waste paper 103.94 94.43 -9.15 6 Textile yarn Fabric, made-up articles 158.74 161.17 1.53 7 Fertilisers, Crude manufactured 493.98 856.89 73.47 8 Sulphur Unroasted Iron Pyrites ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7.48 7.15 -4.41 9 Metalliferous ores other minerals 609.23 518.66 -14.87 10 Coal, Coke Briquettes, etc. 1846.15 2176.32 17.88 11 Petroleum, Crude products 7692.71 11497.60 49.46 12 Wood Wood products 494.41 517.86 4.74 13 Leather leather products 85.66 87.42 2.05 14 Organic Inorganic Chemicals 1636.38 2098.84 28.26 15 Dyeing/tanning/colouring materials. 237.87 283.41 19.14 16 Artificial resins, plastic materials, etc. 1217.29 1360.98 11.80 17 Chemica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l material products 543.40 687.01 26.43 18 Newsprint 74.99 75.46 0.63 19 Pearls, precious Semi-precious stones 2952.51 2221.20 -24.77 20 Iron Steel 1060.99 1475.89 39.10 21 Non-ferrous metals 1028.09 1238.62 20.48 22 Machine tools 248.91 394.56 58.52 23 Machinery, electrical non-electrical 2465.63 3226.54 30.86 24 Transport equipment 1036.83 1240.46 19.64 25 Project goods 152.92 226.62 48.20 26 Professional instrument, Optical goods, etc. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 343.31 417.39 21.58 27 Electronic goods 4158.72 4987.56 19.93 28 Medicinal Pharmaceutical products 444.97 542.52 21.92 29 Gold 4958.60 3478.64 -29.85 30 Silver 442.91 445.02 0.48 Sub-Total 36170.16 41531.21 14.82 GRAND TOTAL 37856.34 43479.88 14.85 Note 1: Imports include Re-Imports. Note 2: The figures for MAY'18 and MAY'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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