I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during June 2018 were valued at US $ 27.70 Billion as compared to US $ 23.56Billion during June 2017 exhibiting a positive growth of 17.57 per cent. In Rupee terms, exports were valued at ₹ 187800.20 crore in June 2018 as compared to ₹ 151844.56 crore during June 2017, registering a positive growth of 23.68 per cent.       

During June 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-June2018-19 was US$82.47 Billion (Rs 552781.61crore) as against US $72.21 Billion (Rs 465472.04 crore) registering a positive growth of 14.21per cent in Dollar terms and 18.76 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems and Jewellery exports during June 2018 were valued at US $ 20.13 Billion as compared to US $ 17.48 Billion during June 2017 exhibiting a positive growth of 15.13 per cent. Non-petroleum and Non Gems and Jewellery exports during April-June2018-19 were valued at US$ 59.86 Billion as compared to US$ 52.71 Billion for the corresponding period in 2017-18, an increase of 13.56%.

IMPORTS

Imports during June 2018 were valued at US$ 44.30Billion (Rs300351.83 crore) which was 21.31per cent higher in Dollar terms and 27.61 per cent higher in Rupee terms over the level of imports valued at US$ 36.52Billion (Rs. 235361.85 crore) in June 2017. Cumulative value of imports for the period April-June2018-19 was US$ 127.41 Billion (Rs. 854096.98  crore) as against US$ 112.26 Billion (Rs. 723631.11 crore) registering a positive growth of 13.49 per cent in Dollar terms and 18.03 per cent in Rupee terms over the same period last year.

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

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during June 2018 were valued at US$ 12.73 Billion(Rs. 86270.79 crore) which was 56.61percent higher in Dollar terms and 64.75 percent higher in Rupee terms compared to US$ 8.13 Billion (Rs. 52363.24 crore) in June 2017.Oil imports during April-June2018-19 were valued at US$ 34.64 Billion (Rs. 232269.14 crore) which was 49.44 per cent higher in Dollar terms and 55.47 percent higher in Rupee terms compared to US$ 23.18 Billion (Rs. 149395.90 crore) in the corresponding period last year.

In this connection it is mentioned that the global Brent price ($/bbl) has increased by 60.47% in June 2018 vis-à-vis June 2017 as per data available from US Energy Information Administration(EIA).

Non-oil imports during June 2018 were estimated at US$ 31.58 Billion(Rs.214081.04 crore) which was 11.20 per cent higherin Dollar terms and 16.99 percent higher in Rupee terms compared to US$ 28.40 Billion (Rs. 182998.61 crore) in June 2017.Non-oil imports during April-June2018-19 were valued at US$ 92.77 Billion(Rs.621827.84 crore) which was 4.14 per cent higher in Dollar terms and 8.29 percent higher in Rupee terms compared to US$ 89.09 Billion (Rs. 574235.21 crore in April-June, 2017-18.

Non-Oil and Non-Gold imports in June 2018 valued at US $ 29.19 billion has recorded a positive growth of 12.53% as compared to Non-Oil and non-Gold import in June 2017. Non-Oil and Non-Gold imports in April-June 2018 valued at US $ 84.33 billion has recorded a positive growth of 8.37% as compared to Non-Oil and Non-Gold import in April-June 2017.

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

EXPORTS (Receipts)

Exports during May2018 were valued at US$ 16.17Billion (Rs.109231.47Crore) registering anegative growth of 7.91per cent in dollar terms as compared to positive growth of 4.33per cent during April2018(as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during May2018 were valued at US$ 10.21Billion (Rs. 68944.22Crore) registering a negativegrowth of 6.48per cent in dollar terms as compared topositivegrowth of 6.18per cent during April2018(as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for June 2018 was estimated at US$ 16.60Billionas against the deficit of US$ 12.96Billion during June 2017.

SERVICES: As per RBI’s Press Release dated 13th July 2018, the trade balance in Services (i.e. net export of Services) for May,2018 was estimated at US$ 5.97Billion.

OVERALL TRADE BALANCE:Taking merchandise and services together, overall trade deficit for April-June2018-19 is estimated at US$ 32.32Billion as compared to US$ 28.55Billion during April-June2017-18. (Services data pertains to May 2018 as it is the latest data available as per RBI’s Press Release dated 13th July 2018)

…

MERCHANDISE TRADE

EXPORTS & IMPORTS: (US $ Billion)
(PROVISIONAL)
	JUNE	APRIL-JUNE
EXPORTS (including re-exports)
2017-18	23.56	72.21
2018-19	27.70	82.47
%Growth 2018-19/ 2017-18	17.57	14.21
IMPORTS
2017-18	36.52	112.26
2018-19	44.30	127.41
%Growth 2018-19/ 2017-18	21.31	13.49
TRADE BALANCE
2017-18	-12.96	-40.05
2018-19	-16.60	-44.94
EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
	JUNE	APRIL-JUNE
EXPORTS(including re-exports)
2017-18	151844.56	465472.04
2018-19	187800.20	552781.61
%Growth 2018-19/ 2017-18	23.68	18.76
IMPORTS
2017-18	235361.85	723631.11
2018-19	300351.83	854096.98
%Growth 2018-19/ 2017-18	27.61	18.03
TRADE BALANCE
2017-18	-83517.29	-258159.07
2018-19	-112551.63	-301315.37

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(Provisional)	May 2018
EXPORTS (Receipts)	16.17
IMPORTS (Payments)	10.21
TRADE BALANCE	5.97
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(Provisional)	May 2018
EXPORTS (Receipts)	109231.47
IMPORTS (Payments)	68944.22
TRADE BALANCE	40287.25
Source: RBI Press Release dated 13th July, 2018

Hyper link for Quick Estimates

Trade deficit widened as imports-especially oil-outpaced export growth, increasing the overall trade imbalance. Merchandise exports in June 2018 and cumulatively for April-June 2018-19 rose year on year in dollar and rupee terms, with non petroleum and non gems & jewellery exports also increasing. Imports grew faster, led by a substantial rise in oil imports linked to higher Brent prices; non oil imports increased modestly. Services receipts and payments for May 2018 both declined in dollar terms, though services registered a net export. Overall, the combined merchandise and services trade deficit for April-June 2018-19 widened versus the prior year.