EXPORTS (including re-exports)

Exports during January, 2014 were valued at US $ 26752.36 million (Rs.166067.93 crore) which was 3.79 per cent higher in Dollar terms (18.62 per cent higher in Rupee terms) than the level of US $ 25775.19 million (Rs. 140002.59 crore) during January, 2013. Cumulative value of exports for the period April-January 2013 -14 was US $ 257088.08 million (Rs 1552564.25 crore) as against US $ 243190.48 million (Rs 1324751.53 crore) registering a growth of 5.71 per cent in Dollar terms and growth of 17.20 per cent in Rupee terms over the same period last year.

IMPORTS

Imports during January, 2014 were valued at US $ 36665.93 million (Rs.227607.45 crore) representing a negative growth of 18.07 per cent in Dollar terms and a negative growth of 6.37 per cent in Rupee terms over the level of imports valued at US $ 44754.68 million (Rs. 243093.11 crore) in January, 2013. Cumulative value of imports for the period April-January, 2013-14 was US $ 377044.14 million (Rs. 2264175.77 crore) as against US $ 408996.91 million (Rs. 2227033.70 crore) registering a negative growth of 7.81 per cent in Dollar terms and growth of 1.67 per cent in Rupee terms over the same period last year.

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during January, 2014 were valued at US $ 13185.9 million which was 10.1 per cent lower than oil imports valued at US $ 14666.2 million in the corresponding period last year. Oil imports during April-January, 2013-14 were valued at US $ 138144.0 million which was 1.2 per cent higher than the oil imports of US $ 136498.1 million in the corresponding period last year.

Non-oil imports during January, 2014 were estimated at US $ 23480.0 million which was 22.0 per cent lower than non-oil imports of US $ 30088.5 million in January, 2013. Non-oil imports during April-January, 2013-14 were valued at US $ 238900.1 million which was 12.3 per cent lower than the level of such imports valued at US $ 272498.9 million in April-January, 2012-13.

TRADE BALANCE

The trade deficit for April-January, 2013-14 was estimated at US $ 119956.06 million which was lower than the deficit of US $ 165806.43 million during April-January, 2012-13.

 

Trade balance narrows as exports rise and imports fall, driven by lower non-oil imports and mixed oil trends. India's foreign trade for January 2014 shows exports rising in Dollar and Rupee terms and cumulative April-January exports increasing year on year, while imports fell in January and cumulative imports declined in Dollar terms; oil imports were lower in January but slightly higher cumulatively, non oil imports declined, and the net effect was a reduced trade deficit for April-January 2013-14 compared with the prior year.