TMI BlogIndia’s Foreign Trade: July 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Foreign Trade: July 2020 - News and Press Release Dated:- 14-8-2020 - News - India s overall exports (Merchandise and Services combined) in April-July2020-21* are estimated to be USD 141.82 billion, exhibiting a negative growth of (-)21.99per cent over the same period last year. Overall imports in April-July 2020-21* are estimated to be USD 127.76billion, exhibiting a negative growth of (-) 40.66per cent over the same period last year. *Note: i) The latest data for services sector released by RBI is for June 2020. The data for July 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. MERCHANDISE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TRADE EXPORTS (including re-exports) Exports inJuly2020 were USD23.64 billion, as compared to USD26.33 billion in July 2019, exhibiting a negative growth of (-) 10.21 per cent. In Rupee terms, exports were ₹ 1,77,305.79 crore in July2020, as compared to ₹ 1,81,190.34 crore in July2019, registering a negative growth of (-) 2.14 per cent. Major commodities which have recorded positive growth during July 2020 vis- -vis July 2019 are Other cereals (204.99%), Rice (47.99%), Iron ore (39.61%), Oil seeds (32.61%), Oil meals (28.44%), Meat, dairy poultry products (22.14%), Fruits vegetables (21.01%), Drugs pharmaceuticals (19.53%), Coffee (14.27%), Cereal preparations miscellaneous processed items (1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.92%), Ceramic products glassware (9.72%), Engineering goods (8.46%), Cotton yarn/fabs./made-ups, handloom products etc. (7.44%), Jute mfg. including floor covering (6.77%), Plastic Linoleum (3.72%) and Carpet (1.96%). Major commodities which have recorded negative growth during July 2020 vis- -vis July 2019 Petroleum products (-51.54%), Gems jewellery (-49.61%), Leather leather products (-26.96%), Man-made yarn/fabs./made-ups etc. (-23.33%), RMG of all textiles (-22.09%), Cashew (-21.25%), Marine products (-20.14%), Tobacco (-19.49%), Electronic goods (-17.42%), Spices (-11.38%), Mica, Coal other ores, minerals including processed minerals (-8.21%), Handicrafts excl. hand made carpet (-6.12%), Tea (-3.97%) an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Organic Inorganic Chemicals (-0.05%). Cumulative value of exports for the period April-July 2020-21 was USD74.96 billion (₹ 5,66,322.06 crore) as against USD107.41 billion (₹ 7,45,174.85crore) during the period April-July 2019-20, registering a negative growth of (-) 30.21 per cent in Dollar terms (negative growth of (-) 24.00per cent in Rupee terms). Non-petroleum and Non-Gems and Jewellery exports in July 2020 were USD20.37 billion, as compared to USD19.70 billion in July2019, registering a positive growth of 3.40 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-July 2020-21 were USD64.29billion, as compared to USD79.81 billion for the corresponding period in 2019-20, which is a decrease of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (-) 19.45 per cent. IMPORTS Imports in July2020 were USD28.47 billion (₹ 2,13,499.56 crore), which is a decline of (-) 28.40 per cent lower in Dollar terms and (-) 21.96 per cent in Rupee terms over imports of USD39.76 billion (₹ 2,73,579.71 crore) in July2019. Cumulative value of imports for the period April-July 2020-21 was USD88.91 billion (₹ 6,71,894.74 crore), as against USD166.80 billion (₹ 11,57,232.64 crore) during the period April-July 2019-20, registering a negativegrowth of (-) 46.70 per cent in Dollar terms and a negative growth of (-)41.94 per cent in Rupee terms. Major commodity groups of import showing negative growth in July2020 over the corresponding month of last year ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e: CRUDE OIL AND NON-OIL IMPORTS: Oil imports inJuly2020 were USD6.53billion (₹ 48,975.09 crore), which was 31.97 percentlower in Dollar terms (25.86 percent lower in Rupee terms), compared to USD9.60 billion (₹ 66,056.77 crore) in July2019. Oil imports inApril-July 2020-21 were USD19.61billion (₹ 148,234.51crore) which was 55.88per cent lower in Dollar terms (51.94percent lower in Rupee terms) compared to USD44.45billion (₹ 3,08,455.32crore), over the sameperiod last year. In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 33.11% in July2020 vis- -vis July2019 as per data available from World Bank. Non-oil imports inJuly2020 were estimated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at USD21.94billion (₹ 1,64,524.47crore) which was 27.26per cent lower in Dollar terms (20.72percent lower in Rupee terms), compared to USD30.16billion (₹ 2,07,522.94crore) in July2019. Non-oil imports inApril-July 2020-21 were USD69.30billion (₹ 5,23,660.23crore) which was 43.36per cent lower in Dollar terms (38.30percent lower in Rupee terms), compared to USD122.35billion (₹ 8,48,777.32crore) in April-July2019-20. Non-Oil and Non-Gold imports wereUSD20.15billion in July2020, recording a negative growth of (-) 29.15per cent, as compared to Non-Oil and Non-Gold importsof USD 28.45billion in July2019. Non-Oil and Non-Gold imports wereUSD66.82billion in April-July 2020-21, recording a negative growth of (-) 38.80 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per cent, as compared to Non-Oil and Non-Gold importsUSD 109.19billion in April-July 2019-20. II. TRADE IN SERVICES EXPORTS (Receipts) As per the latest press release by RBI dated 14 th August 2020, exports in June2020 were USD 17.00 billion (₹ 1,28,697.70crore) registering a negative growth of (-) 8.39 per cent in dollar terms, vis- -vis June2019. The estimated value of services export for July2020* is USD 16.65 billion. IMPORTS (Payments) As per the latest press release by RBI dated 14 th August,2020 imports in June 2020 were USD 9.96 billion (₹ 75,423.89 crore) registering a negative growth of (-) 15.29per cent in dollar terms, vis- -vis June2019. The estimated value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of service import for July2020* is USD 9.65 billion. III.TRADE BALANCE MERCHANDISE : The trade deficit for July2020 was estimated at USD4.83billion as against the deficit of USD13.43billion inJuly2019, which is a decline of (-) 64.06 percent. SERVICES : As per RBI s Press Release dated 14 th August, 2020 the trade balance in Services (i.e. Net Services export) for June 2020 is USD7.04 billion. The estimated trade balance in July 2020* is USD 6.99 billion. OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade surplus for April-July 2020-21* is estimated at USD14.06 billion as compared to the deficit of USD33.50billion in April-July 2019-20. *Note: The late ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st data for services sector released by RBI is for June2020. The data for July2020 is an estimation, which will be revised based on RBI s subsequent release. MERCHANDISE TRADE EXPORTS IMPORTS : (US $ Billion) (PROVISIONAL) JULY APRIL-JULY EXPORTS(including re-exports) 2019-20 26.33 107.41 2020-21 23.64 74.96 %Growth 2020-21/ 2019-20 -10.21 -30.21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IMPORTS 2019-20 39.76 166.80 2020-21 28.47 88.91 %Growth 2020-21/ 2019-20 -28.40 -46.70 TRADE BALANCE 2019-20 -13.43 -59.39 2020-21 -4.83 -13.95 EXPORTS IMPORTS: (Rs. Crore) (PROVISIONAL) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... JULY APRIL-JULY EXPORTS(including re-exports) 2019-20 1,81,190.34 7,45,174.85 2020-21 1,77,305.79 5,66,322.06 %Growth 2020-21/ 2019-20 -2.14 -24.00 IMPORTS 2019-20 2,73,579.71 11,57,232.64 2020-21 2,13,499.56 6,71,894.74 %Growth 2020-21/ 2019-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -21.96 -41.94 TRADE BALANCE 2019-20 -92,389.37 -4,12,057.79 2020-21 -36,193.77 -1,05,572.68 SERVICES TRADE EXPORTS IMPORTS (SERVICES) : (US $ Billion) (PROVISIONAL) June 2020 April-June 2020-21 EXPORTS (Receipts) 17.00 50.21 IMPORTS (Payments) 9.96 29.20 TRADE BALANC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... E 7.04 21.01 EXPORTS IMPORTS (SERVICES): (Rs. Crore) (PROVISIONAL) June 2020 April-June 2020-21 EXPORTS (Receipts) 1,28,697.70 3,80,958.13 IMPORTS (Payments) 75,423.89 2,21,522.27 TRADE BALANCE 53,273.80 1,59,435.86 Source: RBI Press Release dated 14 th August2020 Click here to see Quick Estimates for Sele ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted Major Commodities for July 2020 - 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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