I. MERCHANDISE TRADE

  EXPORTS (including re-exports) 

During August,2016 exports were valued at US$ 21518.60 million (Rs.144044.67 crore) which was 0.30 per cent lower in Dollar terms (2.56 per cent higher in Rupee terms) than the level of US$ 21582.67 million (Rs.140443.43 crore) during August,2015. Cumulative value of exports for the period April-August 2016-17 was US$ 108519.94 million (Rs.726776.04 crore) as against US$ 111853.88 million (Rs.713808.46 crore) registering a negative growth of 2.98 per cent in Dollar terms and positive growth of 1.82 per cent in Rupee terms over the same period last year. 

Non-petroleum exports in August 2016 are valued at US$ 19084.31million against US$ 18749.42 million in August 2015, an increase of 1.79 %. Non-petroleum exports during April to August 2016 are valued at US$ 96983.74 million as compared to US$ 97485.84 million for the corresponding period in 2015, a reduction of 0.52%. 

The growth in exports have fallen for USA (-4.35%), EU (-2.16%), China (-4.94%) but Japan exhibited positive growth (8.67%) for June 2016 over the corresponding period of previous year as per latest WTO statistics.  

IMPORTS 

Imports during August 2016 were valued at US$ 29192.74 million (Rs.195415.03 crore) which was 14.09 per cent lower in Dollar terms and 11.63 per cent lower in Rupee terms over the level of imports valued at US$ 33981.73 million (Rs.221126.92) in August,2015. Cumulative value of imports for the period April-August 2016-17 was US$ 143189.49 million (Rs.959102.25 crore) as against US$ 170234.30 million (Rs.1086515.26 crore) registering a negative growth of 15.89 per cent in Dollar terms and 11.73 per cent in Rupee terms over the same period last year.  

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during August, 2016 were valued at US$ 6743.85 million which was 8.47 percent lower than oil imports valued at US$ 7367.75 million in the corresponding period last year. Oil imports during April-August, 2016-17 were valued at US$ 32410.81 million which was 22.08 per cent lower than the oil imports of US$ 41593.53 million in the corresponding period last year.

  Non-oil imports during August, 2016 were estimated at US$ 22448.89 million which was 15.65 per cent lower than non-oil imports of US$ 26613.98 million in August, 2015. Non-oil imports during April-August 2016-17 were valued at US$ 110778.68 million which was 13.89 per cent lower than the level of such imports valued at US$ 128640.77 million in April-August, 2015-16.

II.TRADE IN SERVICES (for July, 2016, as per the RBI Press Release dated 15^thSeptember 2016)

EXPORTS (Receipts)

Exports during July 2016 were valued at US$ 12775 Million (Rs.85857.71Crore) registering a negative growth of 4.11 per cent in dollar terms as compared to negative growth of 1.03 per cent during June 2016 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during July 2016 were valued at US$ 7409 Million (Rs. 49794.11 Crore) registering a negative growth of 11.68 per cent in dollar terms as compared to positive growth of 5.89 per cent during June 2016 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for April-August, 2016-17 was estimated at US$ 34669.55 million which was 40.61% lower than the deficit of US$ 58380.42 million during April-August, 2015-16.

SERVICES: As per RBI’s Press Release dated 15^th September 2016, the trade balance in Services (i.e. net export of Services) for July, 2016 was estimated at US$ 5366 million. The net export of services for April- July, 2016-17 was estimated at US$ 21562 million which is lower than net export of services of US$ 22371 million during April- July, 2015-16. (The data for April-July 2015-16 and 2016-17 has been derived by adding April-July 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- August 2016-17 is estimated at US$ 13107.55 million which is 63.60 percent lower in Dollar terms than the level of US$ 36009.42 million during April-August 2015-16. (Services data pertains to April-July 2016 as July 2016 is the latest data available as per RBI’s Press Release dated 15^th September 2016)

MERCHANDISE TRADE

EXPORTS & IMPORTS  : (US $ Million)

(PROVISIONAL)

	AUGUST	APRIL-AUGUST
EXPORTS(including re-exports)
2015-16	21582.67	111853.88
2016-17	21518.60	108519.94
%Growth2016-17/ 2015-16	-0.30	-2.98
IMPORTS
2015-16	33981.73	170234.30
2016-17	29192.74	143189.49
%Growth2016-17/ 2015-16	-14.09	-15.89
TRADE BALANCE
2015-16	-12399.06	-58380.42
2016-17	-7674.14	-34669.55
EXPORTS & IMPORTS  : (Rs. Crore)
(PROVISIONAL)
	AUGUST	APRIL-AUGUST
EXPORTS(including re-exports)
2015-16	140443.43	713808.46
2016-17	144044.67	726776.04
%Growth2016-17/ 2015-16	2.56	1.82
IMPORTS
2015-16	221126.92	1086515.26
2016-17	195415.03	959102.25
%Growth2016-17/ 2015-16	-11.63	-11.73
TRADE BALANCE
2015-16	-80683.49	-372706.80
2016-17	-51370.36	-232326.21

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(PROVISIONAL)	July 2016-17
EXPORTS (Receipts)	12775.00
IMPORTS (Payments)	7409.00
TRADE BALANCE	5366.00
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)	July 2016-17
EXPORTS (Receipts)	85857.71
IMPORTS (Payments)	49794.11
TRADE BALANCE	36063.60
Source: RBI Press Release dated 15th September 2016

Trade balance narrows as imports fall sharply and exports show modest contraction, improving overall deficit position. Merchandise exports in August 2016 were marginally lower in dollar terms year on year and cumulative April-August exports contracted in dollar terms but rose in rupee terms; non petroleum exports increased in August but declined slightly cumulatively. Imports fell substantially in August and for April-August 2016-17 in both dollar and rupee terms, with oil and non oil imports each registering notable year on year reductions. Provisional tables display exports, imports and trade balances in US dollars and rupees and distinguish oil and non oil imports.