India’s Foreign Trade (Merchandise) February 2016

By | March 15, 2016

India’s Foreign Trade (Merchandise): February, 2016

  1. MERCHANDISE TRADE 

 EXPORTS (including re-exports)

Exports during February, 2016 were valued at US$ 20738.60 million (Rs. 141515.41crore) which was 5.66 per cent lower in Dollar terms (3.77 per cent higher in Rupee terms) than the level of US$ 21983.43 million (Rs. 136379.94crore) during February, 2015. Cumulative value of exports for the period April-February 2015-16 was US$ 238418.11 million (Rs. 1556576.47 crore) as against US$ 286305.92 million (Rs. 1746265.60 crore) registering a negative growth of 16.73 per cent in Dollar terms and 10.86 per cent in Rupee terms over the same period last year.

Non-petroleum exports in February 2016 are valued at US$ 18905.53 million against US$ 19427.91 million in February 2015, a reduction of 2.69%. Non-petroleum exports during April to February 2016 are valued at US$ 211313.17 million as compared to US$ 232157.85 million for the corresponding period in 2015, a reduction of 8.98%.

The trend of falling exports is in tandem with other major world economies. The growth in exports have fallen for USA (10.35%), European Union (7.62%) and China (1.67%) for December 2015 over the corresponding period previous year as per WTO statistics.

IMPORTS

            Imports during February, 2016 were valued at US$ 27280.42 million (Rs. 186155.30 crore) which was 5.03 per cent lower in Dollar terms and 4.46 per cent higher in Rupee terms over the level of imports valued at US$ 28725.38 million (Rs. 178205.35 crore) in February, 2015. Cumulative value of imports for the period April-February 2015-16 was US$ 351806.61 million (Rs. 2295116.34 crore) as against US$ 412604.70 million (Rs. 2515834.93 crore) registering a negative growth of 14.74 per cent in Dollar terms and 8.77 per cent in Rupee terms over the same period last year.

CRUDE OIL AND NON-OIL IMPORTS:                          

Oil imports during February, 2016 were valued at US$ 4767.69 million which was 21.92 per cent lower than oil imports valued at US$ 6106.33 million in the corresponding period last year. Oil imports during April-February, 2015-16 were valued at US$ 77862.30 million which was 40.52 per cent lower than the oil imports of US$ 130906.99 million in the corresponding period last year.

Non-oil imports during February, 2016 were estimated at US$ 22512.73 million which was 0.47 per cent lower than non-oil imports of US$ 22619.05 million in February, 2015. Non-oil imports during April-February, 2015-16 were valued at US$ 273944.31 million which was 2.75 per cent lower than the level of such imports valued at US$ 281697.71 million in April-February, 2014-15.

  1. TRADE IN SERVICES (for January, 2016, as per the RBI Press Release dated 15th March, 2016)

EXPORTS (Receipts)

Exports during January, 2016 were valued at US$ 12573 Million (Rs. 84556.32 Crore).

During January, 2016, on month-on-month basis, growth in services export turned negative (with a growth of -10.44 per cent) as compared to positive growth (16.80 per cent) during December 2015 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during January, 2016 were valued at US$ 6841 Million (Rs. 46007.30 Crore).

 III.TRADE BALANCE

MERCHANDISE: The trade deficit for April-February, 2015-16 was estimated at US$ 113388.50 million which was lower than the deficit of US$ 126298.78 million during April-February, 2014-15.

SERVICES: As per RBI’s Press Release dated 15th March 2016, the trade balance in Services (i.e. net export of Services) for January, 2016 was estimated at US$ 5732 million. The net export of services for April-January, 2015-16 was estimated at US$ 59289.00 million which is lower than net export of services of US$ 62055.00 million during April-January, 2014-15 (The data for April-January 2015-16 has been derived by adding month wise QE data of RBI Press Release for respective months).

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-February, 2015-16 estimated at US$ 54099.50 million as compared to US$ 64243.78 million over same period last year has fallen by 15.79 per cent (Services data pertains to April-January as January 2016 is the latest data available as per RBI’s Press Release dated 15th March 2016). 

MERCHANDISE TRADE

 

EXPORTS & IMPORTS  : (US $ Million)
(PROVISIONAL)    
  FEBRUARY APRIL-FEBRUARY
EXPORTS(including re-exports)    
2014-15 21983.43 286305.92
2015-16 20738.60 238418.11
%Growth2015-16/ 2014-15 -5.66 -16.73
IMPORTS    
2014-15 28725.38 412604.70
2015-16 27280.42 351806.61
%Growth2015-16/ 2014-15 -5.03 -14.74
TRADE BALANCE    
2014-15 -6741.95 -126298.78
2015-16 -6541.82 -113388.50
     
EXPORTS & IMPORTS  : (Rs. Crore)
(PROVISIONAL)  
  FEBRUARY APRIL-FEBRUARY
EXPORTS(including re-exports)    
2014-15 136379.94 1746265.60
2015-16 141515.41 1556576.47
%Growth2015-16/ 2014-15 3.77 -10.86
IMPORTS    
2014-15 178205.35 2515834.93
2015-16 186155.30 2295116.34
%Growth2015-16/ 2014-15 4.46 -8.77
TRADE BALANCE    
2014-15 -41825.41 -769569.33
2015-16 -44639.89 -738539.87

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(PROVISIONAL) January 2015-16
EXPORTS (Receipts) 12573.00
IMPORTS (Payments) 6841.00
TRADE BALANCE 5732.00
   
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL) January 2015-16
EXPORTS (Receipts) 84556.32
IMPORTS (Payments) 46007.30
TRADE BALANCE 38549.02
Source: RBI Press Release dated 15th March 2016

 

Category: Uncategorized

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