TMI BlogIndia’s Foreign Trade: March 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: March 2019 - News and Press Release Dated:- 15-4-2019 - News - India s overall exports (Merchandise and Services combined) in April-March 2018-19* are estimated to be USD 535.45Billion, exhibiting a positive growth of 7.97per cent over the same period last year. Overall imports in April-March2018-19* are estimated to be USD 631.29Billion, exhibiting a positive growth of 8.48per cent over the same period last year. *Note: Services data pertains to April-February 2018-19 as February 2019 is the latest data available as per RBI s Press Release dated 15th April 2019. It is arrived at by adding quarterly data of RBI for Q1, Q2 Q3 of 2018-19 with Month-wise QE dataof RBI s press release forJanuary February 2018-19. This data is provisional and subject to revision by RBI. In addition, it may be noted that data for March 2019 is estimated and added to the April-February 2018-19 data of RBI to calculate the Overall Trade Deficit for April-March 2018-19. It will be revised based on RBI s next press release for March 2019. I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inMarch 2019 were USD32.55Billion, as compar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to USD29.32 Billion in March 2018, exhibiting a positive growth of 11.02per cent. In Rupee terms, exports were ₹ 2,26,138.76Crore in March 2019, as compared to ₹ 190,619.25Crore in March 2018, registering a positive growth of 18.63per cent. In March 2019, 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 2018-19 was USD331.02Billion (Rs.23,14,429.08Crore) as against USD303.53Billion (Rs.19,56,514.53Crore) during the period April-March 2017-18, registering a positive growth of 9.06per cent in Dollar terms (18.29per cent in Rupee terms). Non-petroleum and Non Gems and Jewellery exports in March 2019 were USD25.59Billion, as compared to USD22.57Billion in March 2018, exhibiting a positive growth of 13.41per cent. Non-petroleum and Non Gems and Jewellery exports in April-March 2018-19 were USD243.02Billion, as compared to USD224.52Billion for the corresponding period in 2017-18, an increase of 8.24per cent. IMPORTS Imports in March 2019 were USD43.44Billion (Rs. 3,01,814.05Crore), which was 1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 44per cent higher in Dollar terms and 8.39per cent higher in Rupee terms over imports of USD42.82Billion (Rs.2,78,441.24Crore) in March 2018. Cumulative value of imports for the period April-March 2018-19 was USD507.44Billion (Rs.35,48,004.48Crore), as against USD465.58Billion (Rs.30,01,033.43Crore) during the period April-March 2017-18, registering a positive growth of 8.99per cent in Dollar terms (18.23per cent in Rupee terms). Major commodity groups of import showing negative growth in March 2019 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inMarch 2019 were USD11.75Billion (Rs. 81,609.46Crore), which was 5.55percent higher in Dollar terms (12.78percent higher in Rupee terms), compared to USD11.13Billion (Rs. 72,359.44Crore) in March 2018. Oil imports in April-March 2018-19 were USD140.47Billion (Rs. 9,83,147.76Crore) which was 29.27per cent higher in Dollar terms (40.39percent higher in Rupee terms) compared to USD108.66Billion (Rs. 7,00,320.81Crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 0.06% in March 2019 vis- -vis March 2018 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as per data available from World Bank (Pink Sheet). Non-oil imports inMarch 2019 were estimated at USD31.69Billion (Rs.2,20,204.59Crore) which was at-par in Dollar terms (6.85percent higher in Rupee terms), compared to USD31.69Billion (Rs. 2,06,081.80Crore) in March 2018. Non-oil imports in April-March 2018-19 were USD366.97Billion (Rs.25,64,856.72Crore) which was 2.82per cent higher in Dollar terms (11.48percent higher in Rupee terms), compared to USD356.92Billion (Rs. 23,00,712.62Crore) in April-March2017-18. Non-Oil and Non-Gold imports wereUSD28.42billion in March 2019, recording a negative growth of 2.67per cent, as compared to Non-Oil and Non-Gold imports in March 2018. Non-Oil and Non-Gold imports wereUSD334.15billion in April-March 2018-19, recording a positive growth of 3.37per cent, as compared to Non-Oil and Non-Gold imports in April-March 2017-18. II. TRADE IN SERVICES (for February, 2019, as per the RBI Press Release dated 15th April 2019) EXPORTS (Receipts) Exports inFebruary2019 were USD16.58Billion (Rs.1,18,114.23Crore) registering a negative growth of 6.54per cent in dollar terms, vis- -vis January 2019. (as per RBI s Press Release for the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pective months). IMPORTS (Payments) Imports inFebruary2019 were USD9.81Billion (Rs.69,861.46Crore) registering a negative growth of 11.05per cent in dollar terms,vis- -vis January 2019. (as per RBI s Press Release for the respective months). III.TRADE BALANCE MERCHANDISE : The trade deficit for March 2019 was estimated at USD10.89Billion as against the deficit of USD13.51Billion inMarch 2018. SERVICES : As per RBI s Press Release dated 15th April 2019, the trade balance in Services (i.e. Net Services export) for February, 2019 is estimated at USD6.78Billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2018-19* is estimated at USD95.85Billion as compared to USD 86.05 Billion in April-March 2017-18. *Note: Services data pertains to April-February 2018-19 as February 2019 is the latest data available as per RBI s Press Release dated 15th April 2019. It is arrived at by adding quarterly data of RBI for Q1, Q2 Q3 of 2018-19 with Month-wise QE dataof RBI s press release for January February 2018-19. This data is provisional and subject to revision by RBI. In addition, it may be noted that data ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for March 2019 is estimated and added to the April-February 2018-19 data of RBI to calculate the Overall Trade Deficit for April-March 2018-19. It will be revised based on RBI s next press release for March 2019. MERCHANDISE TRADE EXPORTS IMPORTS: (USD Billion) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS (including re-exports) 2017-18 29.32 303.53 2018-19 32.55 331.02 %Growth 2018-19/ 2017-18 11.02 9.06 IMPORTS 2017-18 42.82 465.58 2018-19 43.44 507.44 %Growth 2018-19/ 2017-18 1.44 8.99 TRADE BALANCE 2017-18 -13.51 -162.05 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018-19 -10.89 -176.42 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) MARCH APRIL-MARCH EXPORTS(including re-exports) 2017-18 1,90,619.25 19,56,514.53 2018-19 2,26,138.76 23,14,429.08 %Growth 2018-19/ 2017-18 18.63 18.29 IMPORTS 2017-18 2,78,441.24 30,01,033.43 2018-19 3,01,814.05 35,48,004.48 %Growth 2018-19/ 2017-18 8.39 18.23 TRADE BALANCE 2017-18 -87,821.99 -10,44,518.91 2018-19 -75,675.29 -12,33,575.40 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (USD Billion) (Provisional) FEBRUARY 2019 APRIL-FEBRUARY 2018-19 EXPORTS (Receipts) 16.58 187.85 IMPORTS (Payments) 9.81 114.10 TRADE BALANCE 6.78 73.75 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (Provisional) FEBRUARY 2019 APRIL-FEBRUARY 2018-19 EXPORTS (Receipts) 1,18,114.23 13,14,237.86 IMPORTS (Payments) 69,861.46 7,98,280.24 TRADE BALANCE 48,252.77 5,15,957.62 Note:Services data pertains to April-February 2018-19 as February 2019 is the latest data available as per RBI s Press Release dated 15th April 2019. It is arrived at by adding quarterly data of RBI for Q1, Q2 Q3 of 2018-19 with Month-wise QE dataof RBI s press release for January ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... February 2018-19. This has been used along with the estimate of service exports and imports for March 2019, as explained in page-1 for the purpose of this Press note. QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2019 TRADE: EXPORT Sl. No. Commodities (Values in Rs. crores) % change MAR'18 MAR'19 MAR'19 1 Tea 442.91 517.51 16.84 2 Coffee 747.82 736.49 -1.52 3 Rice 5194.35 6445.45 24.09 4 Other cereals 257.27 190.17 -26.08 5 Tobacco 593.53 658.62 10.97 6 Spices 2257.27 2703.01 19.75 7 Cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hew 359.03 395.88 10.26 8 Oil Meals 459.81 1347.52 193.06 9 Oil seeds 713.31 810.60 13.64 10 Fruits Vegetables 2114.92 2162.86 2.27 11 Cereal preparations miscellaneous processed items 919.25 1033.31 12.41 12 Marine Products 3678.18 3666.57 -0.32 13 Meat, dairy poultry products 2684.71 2874.80 7.08 14 Iron Ore 1148.72 1071.65 -6.71 15 Mica, Coal Other Ores, Minerals including processed minerals 2665.06 3228.70 21.15 16 Leather leather prod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ucts 2864.46 2866.29 0.06 17 Ceramic products glassware 1306.92 1680.79 28.61 18 Gems Jewellery 22342.51 23785.92 6.46 19 Drugs Pharmaceuticals 11456.79 13905.76 21.38 20 Organic Inorganic Chemicals 12931.71 16164.48 25.00 21 Engineering Goods 52656.66 65420.06 24.24 22 Electronic Goods 4500.13 6472.16 43.82 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 6651.12 7264.37 9.22 24 Man-made Yarn/Fabs./made-ups etc. 3047.99 3236.50 6.18 25 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RMG of all Textiles 9698.54 11931.51 23.02 26 Jute Mfg. including Floor Covering 161.43 162.73 0.81 27 Carpet 816.45 883.64 8.23 28 Handicrafts excl. handmade carpet 1210.27 1191.95 -1.51 29 Petroleum Products 21539.67 24524.34 13.86 30 Plastic Linoleum 4729.46 5341.90 12.95 Sub Total 180150.27 212675.54 18.05 GRAND TOTAL 190619.25 226138.76 18.63 Note 1: Grand total is inclusive of component Other . Note 2: The figures for MARCH'19 and MARCH'18 are provisional and subject to change QUICK ESTIMATES FOR S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ELECTED MAJOR COMMODITIES FOR MARCH 2019 TRADE: EXPORT Sl. No. Commodities (Values in Million USD) % change MAR'18 MAR'19 MAR'19 1 Tea 68.12 74.48 9.34 2 Coffee 115.01 106.00 -7.83 3 Rice 798.87 927.69 16.13 4 Other cereals 39.57 27.37 -30.83 5 Tobacco 91.28 94.79 3.85 6 Spices 347.16 389.04 12.06 7 Cashew 55.22 56.98 3.19 8 Oil Meals 70.72 193.95 174.25 9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Oil seeds 109.70 116.67 6.35 10 Fruits Vegetables 325.27 311.30 -4.29 11 Cereal preparations miscellaneous processed items 141.38 148.72 5.19 12 Marine Products 565.69 527.73 -6.71 13 Meat, dairy poultry products 412.90 413.77 0.21 14 Iron Ore 176.67 154.24 -12.70 15 Mica, Coal Other Ores, Minerals including processed minerals 409.88 464.70 13.37 16 Leather leather products 440.54 412.54 -6.36 17 Ceramic products glassware 201.00 241.91 20.35 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18 Gems Jewellery 3436.18 3423.49 -0.37 19 Drugs Pharmaceuticals 1762.01 2001.45 13.59 20 Organic Inorganic Chemicals 1988.84 2326.54 16.98 21 Engineering Goods 8098.37 9415.86 16.27 22 Electronic Goods 692.10 931.53 34.59 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 1022.91 1045.56 2.21 24 Man-made Yarn/Fabs./made-ups etc. 468.77 465.83 -0.63 25 RMG of all Textiles 1491.59 1717.29 15.13 26 Jute Mfg. including Floor Covering 24.83 23.42 -5.68 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 27 Carpet 125.57 127.18 1.28 28 Handicrafts excl. hand made carpet 186.13 171.56 -7.83 29 Petroleum Products 3312.71 3529.77 6.55 30 Plastic Linoleum 727.37 768.86 5.70 Sub Total 27706.36 30610.22 10.48 GRAND TOTAL 29316.43 32547.97 11.02 Note 1: Exports include Re-Exports. Note 2: The figures for MARCH'19 and MARCH'18 are provisional and subject to change Note 3: Grand total is inclusive of component Other . QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2019 TRADE: IMPORT Sl. No. Commodities (Values in Rs. crores) % change ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MAR'18 MAR'19 MAR'19 1 Cotton Raw Waste 347.84 404.04 16.16 2 Vegetable Oil 5476.77 6701.23 22.36 3 Pulses 341.00 943.09 176.57 4 Fruits vegetables 997.22 1178.56 18.18 5 Pulp and Waste paper 549.10 819.06 49.16 6 Textile yarn Fabric, made-up articles 938.71 948.72 1.07 7 Fertilisers, Crude manufactured 2078.60 3761.58 80.97 8 Sulphur Unroasted Iron Pyrites 129.59 95.86 -26.03 9 Metalliferous ores other minerals 556 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7.19 3395.43 -39.01 10 Coal, Coke Briquettes, etc. 16027.93 14583.03 -9.01 11 Petroleum, Crude products 72359.44 81609.46 12.78 12 Wood Wood products 3571.10 3487.26 -2.35 13 Leather leather products 525.62 558.87 6.33 14 Organic Inorganic Chemicals 13273.13 13282.00 0.07 15 Dyeing/tanning/colouring mtrls. 1610.80 1883.82 16.95 16 Artificial resins, plastic materials, etc. 9002.15 9238.32 2.62 17 Chemical material products 4007.74 4349.32 8.52 18 News ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... print 354.93 493.57 39.06 19 Pearls, precious Semi-precious stones 19777.67 20915.70 5.75 20 Iron Steel 8776.25 10960.12 24.88 21 Non-ferrous metals 8101.69 7709.03 -4.85 22 Machine tools 2181.24 2943.32 34.94 23 Machinery, electrical non-electrical 22157.70 22316.44 0.72 24 Transport equipment 11824.75 12310.45 4.11 25 Project goods 920.49 2397.60 160.47 26 Professional instrument, Optical goods, etc. 3030.67 3526.12 16.35 27 Electronic goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 32236.82 32485.60 0.77 28 Medicinal. Pharmaceutical products 3177.79 3789.40 19.25 29 Gold 16219.71 22742.92 40.22 30 Silver 1738.20 759.57 -56.30 Sub Total 267301.85 290589.49 8.71 GRAND TOTAL 278441.24 301814.05 8.39 Note 1: Grand total is inclusive of component Other . Note 2: The figures for MARCH'19 and MARCH'18 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2019 TRADE: IMPORT Sl. No. Commodities (Values in Million USD) % change MAR'18 MAR'19 MAR'19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 Cotton Raw Waste 53.50 58.15 8.69 2 Vegetable Oil 842.30 964.50 14.51 3 Pulses 52.44 135.74 158.85 4 Fruits vegetables 153.37 169.63 10.60 5 Pulp and Waste paper 84.45 117.89 39.60 6 Textile yarn Fabric, made-up articles 144.37 136.55 -5.42 7 Fertilisers, Crude manufactured 319.68 541.40 69.36 8 Sulphur Unroasted Iron Pyrites 19.93 13.80 -30.76 9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Metalliferous ores other minerals 856.21 488.70 -42.92 10 Coal, Coke Briquettes, etc. 2465.03 2098.92 -14.85 11 Petroleum, Crude products 11128.58 11745.99 5.55 12 Wood Wood products 549.22 501.92 -8.61 13 Leather leather products 80.84 80.44 -0.49 14 Organic Inorganic Chemicals 2041.35 1911.67 -6.35 15 Dyeing/tanning/colouring mtrls. 247.73 271.14 9.45 16 Artificial resins, plastic materials, etc. 1384.49 1329.66 -3.96 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 Chemical material products 616.37 625.99 1.56 18 Newsprint 54.59 71.04 30.13 19 Pearls, precious Semi-precious stones 3041.72 3010.38 -1.03 20 Iron Steel 1349.75 1577.48 16.87 21 Non-ferrous metals 1246.01 1109.55 -10.95 22 Machine tools 335.47 423.63 26.28 23 Machinery, electrical non-electrical 3407.76 3211.99 -5.74 24 Transport equipment 1818.60 1771.83 -2.57 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25 Project goods 141.57 345.08 143.75 26 Professional instrument, Optical goods, etc. 466.10 507.51 8.88 27 Electronic goods 4957.89 4675.63 -5.69 28 Medicinal. Pharmaceutical products 488.73 545.41 11.60 29 Gold 2494.52 3273.37 31.22 30 Silver 267.33 109.32 -59.11 Sub Total 41109.90 41824.31 1.74 GRAND TOTAL 42823.08 43439.86 1.44 Note 1: Imports include Re-Imports. Note ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2: The figures for MARCH'19 and MARCH'18 are provisional and subject to change. Note 3: Grand total is inclusive of component Other . - 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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