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India’s Foreign Trade: March 2018

April 13, 2018

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Ministry of Commerce & Industry

India’s Foreign Trade: March 2018

Posted On: 13 APR 2018 5:45PM by PIB Delhi

India's foreign Trade for April –March 2017-18

 

Merchandise (P)

Services* (P)

Merchandise + Services (P)

 

Values in USD billions

%Growth

Values in USD billions

%Growth

Values in USD billions

Exports

302.84

9.78

175.31

17.63

478.15

Import

459.67

19.59

105.65

19.74

565.32

Trade Balance

-156.83

44.54

69.66

14.56

-87.17

Source: DGCI&S for Merchandise; for Services RBI

Note 2-Services  data for  2017-18 pertains to April-Feb 2018 as Feb 2018 is the latest data available as per RBI’s Press Release.

Note 3- P : Provisionals

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during 2017-18 are at US $ 302.84 Billion registering a growth of 9.78 per cent in dollar terms vis-à-vis 2016-17.

Exports during March 2018 were valued at US $ 29.11 Billion as compared to US $ 29.30 Billion during March 2017 exhibited negative growth of 0.66 per cent. In Rupee terms, exports were valued at ₹ 189271.16 crore as compared to ₹ 193028.91 crore during March 2017, registering a fall of 1.95 per cent.

During March 2018, major commodity groups of export showing positive growth over the corresponding month of last year are

 Cumulative value of exports for the period April-March 2017-18 was US $ 302.84 Billion (Rs 1952168.79 crore) as against US $ 275.85 Billion (Rs 1849428.76 crore) registering a positive growth of 9.78 per cent in Dollar terms and 5.56 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in March 2018 were valued at US $ 22.42 Billion as against US $ 21.44 Billion in March 2017, an increase of 4.60%. Non-petroleum and Non Gems and Jewellery exports during April-March 2017-18 were valued at US $ 222.45 Billion as compared to US $ 200.89 Billion for the corresponding period in 2016-17, an increase of 10.73%.

IMPORTS

Imports during March 2018 were valued at US $ 42.80 Billion (Rs 278296.95 crore) which was 7.15 per cent higher in Dollar terms and 5.75 per cent higher in Rupee terms over the level of imports valued at US $ 39.95 Billion (Rs. 263155.49 crore) in March 2017. Cumulative value of imports for the period April-March 2017-18 was US $ 459.67 Billion (Rs. 2962897.70 crore) as against US $ 384.36 Billion (Rs. 2577665.59 crore) registering a positive growth of 19.59 per cent in Dollar terms and 14.94 per cent in Rupee terms over the same period last year.  

Major commodity groups of import showing high growth in March 2018 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during March 2018 were valued at US $ 11.11 Billion which was 13.92 percent higher than oil imports valued at US $ 9.75 Billion in March 2017. Oil imports during April- March 2017-18 were valued at US $ 109.11 Billion which was 25.47 per cent higher than the oil imports of US $ 86.96 Billion in the corresponding period last year.

In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 27.86 % in March 2018 vis-à-vis March 2017 as per World Bank commodity price data (The pink sheet).

Non-oil imports during March 2018 were estimated at US $ 31.69 Billion which was 4.96 per cent higher than non-oil imports of US $ 30.20 Billion in March 2017. Non-oil imports during April-March 2017-18 were valued at US $ 350.56 Billion which was 17.88 per cent higher than the level of such imports valued at US $ 297.39 Billion in April-March, 2016-17.                      

II. TRADE IN SERVICES (for February, 2018, as per the RBI Press Release dated 13th April 2018)

EXPORTS (Receipts)

Exports during February 2018 were valued at US $ 15.71 Billion (Rs. 101124.86 Crore) registering a negative growth of 3.84 per cent in dollar terms as compared to positive growth of 2.07 per cent during January 2018 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during February 2018 were valued at US $ 10.14 Billion (Rs. 65294.38 Crore) registering a positive growth of 3.10 per cent in dollar terms as compared to negative growth of 0.12 per cent during January 2018 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for March 2018 was estimated at US $ 13.69 Billion as against the deficit of US $ 10.65 Billion during March 2017.

SERVICES: As per RBI’s Press Release dated 13th April 2018, the trade balance in Services (i.e. net export of Services) for February, 2018 was estimated at US $ 5.57 Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2017-18 is estimated at US $ 87.17 Billion as compared to US $ 47.70 Billion during April-March 2016-17. (Services data pertains to April-February 2017-18 as February 2018 is the latest data available as per RBI’s Press Release dated 13th April 2018)

MERCHANDISE TRADE 

EXPORTS & IMPORTS: (US $ Billion)

(PROVISIONAL)

 

MARCH

APRIL-MARCH

EXPORTS (including re-exports)

 

 

2016-17

29.30

275.85

2017-18

29.11

302.84

%Growth 2017-18/ 2016-17

-0.66

9.78

IMPORTS

 

 

2016-17

39.95

384.36

2017-18

42.80

459.67

%Growth 2017-18/ 2016-17

7.15

19.59

TRADE BALANCE

 

 

2016-17

-10.65

-108.50

2017-18

-13.69

-156.83

EXPORTS & IMPORTS: (Rs. Crore)

(PROVISIONAL)

 

MARCH

APRIL-MARCH

EXPORTS(including re-exports)

 

 

2016-17

193028.91

1849428.76

2017-18

189271.16

1952168.79

%Growth 2017-18/ 2016-17

-1.95

5.56

IMPORTS

 

 

2016-17

263155.49

2577665.59

2017-18

278296.95

2962897.70

%Growth 2017-18/ 2016-17

5.75

14.94

TRADE BALANCE

 

 

2016-17

-70126.58

-728236.83

2017-18

-89025.79

-1010728.92

 SERVICES TRADE 

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

(Provisional)

February 2018

EXPORTS (Receipts)

15.71

IMPORTS (Payments)

10.14

TRADE BALANCE

5.57

EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

(Provisional)

February 2018

EXPORTS (Receipts)

101124.86

IMPORTS (Payments)

65294.38

TRADE BALANCE

35830.48

Source: RBI Press Release dated 13th April, 2018

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

 TRADE: EXPORT

Sl. No.

Commodities

(Values in Rs. crores)

% change

MAR'17

MAR'18

MAR'18

1

Tea

426.57

442.92

3.83

2

Coffee

714.62

748.02

4.67

3

Rice

4221.77

5038.40

19.34

4

Other cereals

91.22

252.45

176.75

5

Tobacco

612.26

593.24

-3.11

6

Spices

2214.77

2284.31

3.14

7

Cashew

613.22

359.11

-41.44

8

Oil Meals

766.63

427.48

-44.24

9

Oil seeds

846.66

715.58

-15.48

10

Fruits & Vegetables

1920.80

1972.90

2.71

11

Cereal preparations & miscellaneous processed items

768.17

917.23

19.40

12

Marine Products

3335.11

3676.63

10.24

13

Meat, dairy & poultry products

2841.53

2684.71

-5.52

14

Iron Ore

1561.31

1148.01

-26.47

15

Mica, Coal & Other Ores, Minerals including processed minerals

2869.72

2523.33

-12.07

16

Leather & leather products

2793.08

2863.89

2.54

17

Ceramic products & glassware

1160.90

1305.00

12.41

18

Gems & Jewellery

27081.60

22300.49

-17.65

19

Drugs & Pharmaceuticals

10675.66

11422.19

6.99

20

Organic & Inorganic Chemicals

9863.04

12826.21

30.04

21

Engineering Goods

52086.43

52754.58

1.28

22

Electronic Goods

3993.91

4539.23

13.65

23

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

5883.91

6636.20

12.79

24

Man-made Yarn/Fabs./made-ups etc.

2890.86

3048.20

5.44

25

RMG of all Textiles

11946.37

9694.68

-18.85

26

Jute Mfg. including Floor Covering

176.95

161.77

-8.58

27

Carpet

916.43

819.23

-10.61

28

Handicrafts excl. handmade carpet

1136.93

1209.34

6.37

29

Petroleum Products

24735.26

21185.44

-14.35

30

Plastic & Linoleum

3774.06

4725.66

25.21

 

Sub-Total

182919.75

179276.43

-1.99

 

GRAND   TOTAL

193028.91

189271.16

-1.95

Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

TRADE: EXPORT

Sl. No.

Commodities

(Values in Million USD)

% change

MAR'17

MAR'18

MAR'18

1

Tea

64.75

68.12

5.20

2

Coffee

108.48

115.04

6.05

3

Rice

640.86

774.88

20.91

4

Other cereals

13.85

38.83

180.36

5

Tobacco

92.94

91.24

-1.83

6

Spices

336.20

351.32

4.50

7

Cashew

93.09

55.23

-40.67

8

Oil Meals

116.37

65.74

-43.51

9

Oil seeds

128.52

110.05

-14.37

10

Fruits & Vegetables

291.58

303.42

4.06

11

Cereal preparations & miscellaneous processed items

116.61

141.07

20.98

12

Marine Products

506.27

565.45

11.69

13

Meat, dairy & poultry products

431.34

412.90

-4.28

14

Iron Ore

237.00

176.56

-25.50

15

Mica, Coal & Other Ores, Minerals including processed minerals

435.62

388.08

-10.91

16

Leather & leather products

423.99

440.45

3.88

17

Ceramic products & glassware

176.22

200.70

13.89

18

Gems & Jewellery

4110.95

3429.72

-16.57

19

Drugs & Pharmaceuticals

1620.55

1756.68

8.40

20

Organic & Inorganic Chemicals

1497.20

1972.62

31.75

21

Engineering Goods

7906.65

8113.43

2.62

22

Electronic Goods

606.27

698.11

15.15

23

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

893.17

1020.62

14.27

24

Man-made Yarn/Fabs./made-ups etc.

438.83

468.80

6.83

25

RMG of all Textiles

1813.44

1491.00

-17.78

26

Jute Mfg. including Floor Covering

26.86

24.88

-7.37

27

Carpet

139.11

125.99

-9.43

28

Handicrafts excl. handmade carpet

172.58

185.99

7.77

29

Petroleum Products

3754.78

3258.23

-13.22

30

Plastic & Linoleum

572.90

726.79

26.86

 

Sub-Total

27766.98

27571.94

-0.70

 

GRAND   TOTAL

29301.55

29109.09

-0.66

Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

TRADE: IMPORT

Sl. No.

Commodities

(Values in Rs. crores)

% change

MAR'17

MAR'18

MAR'18

1

Cotton Raw & Waste

368.09

347.36

-5.63

2

Vegetable Oil

6989.59

5476.87

-21.64

3

Pulses

2106.15

343.08

-83.71

4

Fruits & vegetables

1044.50

996.80

-4.57

5

Pulp and Waste paper

651.61

549.10

-15.73

6

Textile yarn Fabric, made-up articles

757.24

936.59

23.68

7

Fertilisers, Crude & manufactured

1109.72

2078.60

87.31

8

Sulphur & Unroasted Iron Pyrites

82.12

129.60

57.82

9

Metalliferous ores & other minerals

3035.73

5529.44

82.15

10

Coal, Coke & Briquettes, etc.

11224.45

16027.81

42.79

11

Petroleum, Crude & products

64231.88

72223.87

12.44

12

Wood &  Wood products

2573.69

3571.56

38.77

13

Leather & leather products

495.24

526.24

6.26

14

Organic & Inorganic Chemicals

10520.53

13295.53

26.38

15

Dyeing/tanning/colouring materials.

1657.17

1608.57

-2.93

16

Artificial resins, plastic materials, etc.

7083.49

9000.62

27.06

17

Chemical material & products

3254.16

4004.36

23.05

18

Newsprint

501.23

354.93

-29.19

19

Pearls, precious & Semi-precious stones

19821.18

19716.17

-0.53

20

Iron & Steel

6421.86

8771.06

36.58

21

Non-ferrous metals

5732.39

8101.74

41.33

22

Machine tools

2133.77

2181.86

2.25

23

Machinery, electrical & non-electrical

16823.82

22153.53

31.68

24

Transport equipment

9027.18

11825.10

30.99

25

Project goods

1367.04

920.49

-32.67

26

Professional instrument, Optical goods, etc.

2636.27

3026.11

14.79

27

Electronic goods

31847.46

32230.59

1.20

28

Medicinal & Pharmaceutical products

2962.73

3180.72

7.36

29

Gold

27527.15

16218.59

-41.08

30

Silver

1345.07

1738.20

29.23

 

Sub-Total

245332.51

267065.09

8.86

 

GRAND   TOTAL

263155.49

278296.95

5.75

Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

TRADE: IMPORT  

Sl. No.

Commodities

(Values in Million USD)

% change

MAR'17

MAR'18

MAR'18

1

Cotton Raw & Waste

55.88

53.42

-4.40

2

Vegetable Oil

1061.01

842.32

-20.61

3

Pulses

319.71

52.76

-83.50

4

Fruits & vegetables

158.55

153.30

-3.31

5

Pulp and Waste paper

98.91

84.45

-14.62

6

Textile yarn Fabric, made-up articles

114.95

144.04

25.31

7

Fertilisers, Crude & manufactured

168.45

319.68

89.78

8

Sulphur & Unroasted Iron Pyrites

12.47

19.93

59.82

9

Metalliferous ores & other minerals

460.82

850.40

84.54

10

Coal, Coke & Briquettes, etc.

1703.86

2465.01

44.67

11

Petroleum, Crude & products

9750.32

11107.72

13.92

12

Wood &  Wood products

390.68

549.29

40.60

13

Leather & leather products

75.18

80.93

7.65

14

Organic & Inorganic Chemicals

1597.00

2044.80

28.04

15

Dyeing/tanning/colouring materials.

251.56

247.39

-1.66

16

Artificial resins, plastic materials, etc.

1075.26

1384.26

28.74

17

Chemical material & products

493.98

615.85

24.67

18

Newsprint

76.09

54.59

-28.26

19

Pearls, precious & Semi-precious stones

3008.83

3032.26

0.78

20

Iron & Steel

974.83

1348.95

38.38

21

Non-ferrous metals

870.17

1246.01

43.19

22

Machine tools

323.90

335.56

3.60

23

Machinery, electrical & non-electrical

2553.83

3407.12

33.41

24

Transport equipment

1370.31

1818.65

32.72

25

Project goods

207.51

141.57

-31.78

26

Professional instrument, Optical goods, etc.

400.18

465.40

16.30

27

Electronic goods

4834.40

4956.93

2.53

28

Medicinal & Pharmaceutical products

449.74

489.18

8.77

29

Gold

4178.59

2494.35

-40.31

30

Silver

204.18

267.33

30.93

 

Sub-Total

37241.15

41073.45

10.29

 

GRAND   TOTAL

39946.67

42800.89

7.15

Note: The figures for MARCH'18 and MARCH'17 are provisional and subject to change.

***

Topics

Acts Income Tax
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