I. MERCHANDISE TRADE
EXPORTS (including re-exports)
In continuation with the double digit growth exhibited by exports during March 2017, exports during April 2017have shown growth of 19.77 per cent in dollar terms valued at US$ 24635.09 million as compared to US$ 20568.85 million during April,2016. In Rupee terms, duringApril 2017 exports were valued at Rs. 158913.79 crore as compared to Rs. 136720.11 crore during April 2016, registering a positive growth of 16.23%.
Non-petroleum and Non Gems & Jewellery exports in April 2017 were valued at US$ 17718.87 million against US$ 15136.41 million in April 2016, an increase of 17.06%.
The growth in exports is positive for all major economies, USA (4.74%), EU (0.16%), Japan (13.30%) except for China (-1.56%)for February 2017 over the corresponding period of previous year as per latest WTO statistics.
Imports during April 2017 were valued at US$ 37884.28 million (Rs. 244380.52 crore) which was 49.07 per cent higher in Dollar terms and 44.67% higher in Rupee terms over the level of imports valued at US$ 25413.72 million (Rs. 168923.71 crore) in April 2016.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during April 2017 were valued at US$ 7359.27 million which was 30.12% higher than oil imports valued at US$ 5655.92 million in April 2016.
In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 25.40% in April 2017 vis-vis April 2016 as per World Bank commodity price data.
Non-oil imports during April 2017 were estimated at US$ 30525.01 million which was 54.50% higher than non-oil imports of US$ 19757.80 million in April 2016.
TRADE IN SERVICES (for March 2017, as per the RBI Press Release dated 15th May 2017)
Exports during March 2017 were valued at US$ 14179 Million (Rs. 93406.57 Crore) registering a positive growth of 8.57% in dollar terms as compared to negative growth of 3.76% during February 2017 (as per RBI's Press Release for the respective months).
Imports during March 2017 were valued at US$ 8267 Million (Rs. 54460.27 crore) registering a positive growth of 14.26% in dollar terms as compared to negative growth of 13.96per cent during February2017 (as per RBI's Press Release for the respective months).
III. TRADE BALANCE
MERCHANDISE: The trade deficit for April 2017 was estimated at US$ 13249.19 million which was 173.47% higher than the deficit of US$ 4844.87 million during April 2016.
SERVICES: As per RBI's Press Release dated 15th May 2017, the trade balance in Services (i.e. net export of Services) for March, 2017 was estimated at US$ 5912 million. The net export of services for April- March, 2016-17 was estimated at US$ 65214 million which is lower than net export of services of US$ 69419million during April- March 2015-16. (The data for April-March 2015-16 and 2016-17 has been derived by adding April-March month wise QE data of RBI Press Release).
OVERALL TRADE BALANCE: Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- March 2016-17 is estimated at US$ 40980 million which is 16.87% lower in Dollar terms than the level of US$ 49297.53 million during April-March 2015-16.
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