TMI BlogINDIA’S FOREIGN TRADE: JUNE 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... INDIA’S FOREIGN TRADE: JUNE 2020 - News and Press Release Dated:- 15-7-2020 - News - India s overall exports (Merchandise and Services combined) in April-June2020-21* are estimated to be USD 101.02 billion, exhibiting a negative growth of (-)25.92 per cent over the same period last year. Overall imports in April-June 2020-21* are estimated to be USD 89.31 billion, exhibiting a negative growth of (-)45.10per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for May 2020. The data for June 2020 is an estimation, which will be revised based on RBI s subsequent release ii) the figures in bracket are growth rates vis- -vis corresponding period of last year. I. MERCHA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NDISE TRADE EXPORTS (including re-exports) Exports inJune2020 were USD21.91billion, as compared to USD25.01billion in June 2019,exhibiting a negative growth of (-)12.41per cent. In Rupee terms, exports were ₹ 1,65,898.85crore in June2020, as compared to ₹ 1,73,682.55crore in June2019, registering a negative growth of (-) 4.48per cent. Major commodity groups which have recorded positive growth during June 2020 vis- -vis June 2019 are Iron Ore (63.11%), Oil seeds (50.48%), Rice (32.72%), Oil meals (27.36%), Spices (22.92%), Other cereals (19.35%), Organic inorganic chemicals (19.06%), Cereal preparations miscellaneous processed items (13.8%), Fruits vegetables (11.01%), Drugs pharmaceuticals (9. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 89%), Tobacco (3.56%) and Coffee (2.58%). Major commodity groups which have recorded negative growth during June 2020 vis- -vis June 2019 are Gems jewellery (-50.06%), Leather leather products (-40.47%), RMG of all textiles (-34.84%), Man-made yarn/fabs./made-ups etc. (-31.98%), Petroleum products (-31.65%), Cashew (-27.02%), Meat, dairy poultry products (-25.88%), Handicrafts excl. hand-made carpet (-23.95%), Electronic goods (-22.52%), Jute mfg. including floor covering (-14.06%), Ceramic products glassware (-10.91%), Carpet (-10.46%), Marine products (-9.74%), Tea (-8.01%), Engineering goods (-7.5%), Plastic Linoleum (-4.4%), Cotton yarn/fabs./made-ups, handloom products etc. (-3.83%) and Mica, Coal other ores, miner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... als including processed minerals (-1.13%). Cumulative value of exports for the period April-June 2020-21 was USD51.32billion (₹ 3,89,016.27crore) as against USD81.08billion (₹ 5,63,984.51crore) during the period April-June 2019-20, registering a negative growth of (-)36.71per cent in Dollar terms (negative growth of (-)31.02per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in June 2020 were USD18.48billion, as compared to USD19.15billion in June2019, exhibiting a negative growth of (-) 3.51per cent. Non-petroleum and Non-Gems and Jewellery exports in April-June 2020-21 were USD43.91billion, as compared to USD60.10billion for the corresponding period in 2019-20, a decrease of (-) 26.94 per c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent. IMPORTS Imports in June2020 were USD21.11billion (₹ 1,59,892.42crore), which was 47.59per cent lower in Dollar terms and 42.85per cent lower in Rupee terms over imports of USD40.29billion (₹ 2,79,771.07crore) in June2019. Cumulative value of imports for the period April-June 2020-21 was USD60.44billion (₹ 4,58,395.18crore), as against USD127.04billion (₹ 8,83,652.93crore) during the period April-June 2019-20, registering a negative growth of (-)52.43per cent in Dollar terms (negative growth of (-)48.12per cent in Rupee terms). Major commodity groups of import showing negative growth in June2020 over the corresponding month of last year are: CRUDE OIL AND NON-OIL IMPORT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S: Oil imports inJune2020 were USD4.93billion (₹ 37,341.70crore), which was 55.29percentlower in Dollar terms (51.24percent lower in Rupee terms), compared to USD11.03billion (₹ 76,586.73crore) in June2019. Oil imports inApril-June 2020-21 were USD13.08billion (₹ 99,259.42crore) which was 62.47per cent lower in Dollar terms (59.05percent lower in Rupee terms) compared to USD34.85billion (₹ 2,42,398.55crore), over the same period last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 36.92% in June2020 vis- -vis June2019 as per data available from World Bank. Non-oil imports inJune2020 were estimated at USD16.18billion (₹ 1,22,550.72crore) whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h was 44.69per cent lower in Dollar terms (39.68percent lower in Rupee terms), compared to USD29.26billion (₹ 2,03,184.34crore) in June2019. Non-oil imports inApril-June 2020-21 were USD47.36billion (₹ 3,59,135.76crore) which was 48.63per cent lower in Dollar terms (43.99percent lower in Rupee terms), compared to USD92.19billion (₹ 6,41,254.38crore) in April-June2019-20. Non-Oil and Non-Gold imports wereUSD15.57billion in June2020, recording a negative growth of (-)41.37per cent, as compared to Non-Oil and Non-Gold importsof USD 26.57billion in June2019. Non-Oil and Non-Gold imports wereUSD46.67billion in April-June 2020-21, recording a negative growth of (-)42.20per cent, as compared to Non-Oil and Non-Gold imports ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... USD 80.75billion in April-June 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 15 th July 2020, exports in May2020 were USD 16.77 billion (₹ 1,26,851.39crore) registering a negative growth of (-) 10.24per cent in dollar terms, vis- -vis May2019. The estimated value of services export for June2020* is USD 16.48 billion. IMPORTS (Payments) As per the latest press release by RBI dated 15 th July 2020, imports in May 2020 were USD 9.94 billion (₹ 75,190.81 crore) registering a negative growth of (-)20.45per cent in dollar terms, vis- -vis May2019. The estimated value of service import for June2020* is USD 9.64billion. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... III.TRADE BALANCE MERCHANDISE : The trade surplus for June2020 was estimated at USD0.79billion as against the deficit of USD15.28billion inJune2019.This is the first time in the last decade that India is a net exporter. SERVICES : As per RBI s Press Release dated 15 th July 2020, the trade balance in Services (i.e. Net Services export) for May 2020 is estimated at USD6.83 billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-June 2020-21* is estimated at USD11.70billion as compared to the deficit of USD26.32billion in April-June 2019-20. *Note: The latest data for services sector released by RBI is for May2020. The data for June2020 is an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) JUNE APRIL-JUNE EXPORTS(including re-exports) 2019-20 25.01 81.08 2020-21 21.91 51.32 %Growth 2020-21/ 2019-20 -12.41 -36.71 IMPORTS 2019-20 40.29 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 127.04 2020-21 21.11 60.44 %Growth 2020-21/ 2019-20 -47.59 -52.43 TRADE BALANCE 2019-20 -15.28 -45.96 2020-21 0.79 -9.12 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) JUNE APRIL-JUNE EXPORTS(including re-exports) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019-20 1,73,682.55 5,63,984.51 2020-21 1,65,898.85 3,89,016.27 %Growth 2020-21/ 2019-20 -4.48 -31.02 IMPORTS 2019-20 2,79,771.07 8,83,652.93 2020-21 1,59,892.42 4,58,395.18 %Growth 2020-21/ 2019-20 -42.85 -48.12 TRADE BALANCE 2019-20 -1,06,088.52 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -3,19,668.42 2020-21 6,006.43 -69,378.91 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) May 2020 April-May 2020-21 EXPORTS (Receipts) 16.77 33.22 IMPORTS (Payments) 9.94 19.24 TRADE BALANCE 6.83 13.98 EXPORTS IMPORTS (SERVICES): (Rs. Crore) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (PROVISIONAL) May 2020 April-May 2020-21 EXPORTS (Receipts) 126,851.39 252,260.43 IMPORTS (Payments) 75,190.81 146,098.38 TRADE BALANCE 51,660.58 106,162.05 Source: RBI Press Release dated 15 th July 2020 *Link for Quick Estimates: - 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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