India’s overall exports (Merchandise and Services combined) in April 2019* is estimated to be USD 44.06 billion, exhibiting a positive growth of 1.34per cent over the April 2018. Overall imports in April 2019* is estimated to be USD 52.83 billion, exhibiting a positive growth of 4.53per cent over April 2018.

*Note: The latest data for services sector released by RBI is for March 2019. The data for April 2019 is an estimation, which will be revised based on RBI’s subsequent release.

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports in April 2019 were USD26.07 billion, as compared to USD25.91billion in April 2018, exhibiting a positive growth of 0.64per cent. In Rupee terms, exports were ₹ 1,81,021.34crore in April 2019, as compared to ₹ 1,70,052.96crore in April 2018, registering a positive growth of 6.45per cent.        

 In April 2019, major commodity groups of export showing positive growth over the corresponding month of last year are

Non-petroleum and Non Gems and Jewellery exports in April 2019 were USD19.54 billion, as compared to USD19.80 billion in April 2018, exhibiting a negative growth of 1.31per cent.

IMPORTS

Imports in April 2019 were USD 41.40 billion (₹ 2,87,432.93crore), which was 4.48 per cent higher in dollar terms and 10.52 per cent higher in Rupee terms over imports of USD39.63 billion (₹ 2,60,084.67crore) in April 2018.

Major commodity groups of import showing negative growth in April 2019 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports in April 2019 were USD11.38 billion (₹ 78,989.46crore), which was 9.26 percent higher in dollar terms (15.58 percent higher in Rupee terms), compared to USD10.41billion (₹ 68,344.24crore) in April 2018.

In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 0.60% in April 2019 vis-à-vis April 2018 as per data available from World Bank (Pink Sheet).

Non-oil imports in April 2019 were estimated at USD30.02 billion (₹ 2,08,443.47crore) which was 2.78 per cent higher in dollar terms (8.71percent higher in Rupee terms), compared to USD29.21billion (₹ 1,91,740.43crore) in April 2018.

Non-Oil and Non-Gold imports were USD 26.05 billion in April 2019, recording a negative growth of 2.19per cent,compared to USD 26.63 billion in April 2018.

II. TRADE IN SERVICES

EXPORTS (Receipts)

As per the latest press release by RBI dated 15^th May 2019, exports inMarch2019 were USD17.94 billion (₹ 1,24,672.40crore) registering a positive growth of 6.59 per cent in dollar terms, vis-à-vis March 2018.

IMPORTS (Payments)

As per the latest press release by RBI dated 15^th May 2019,imports in March 2019 were USD11.37 billion (₹ 78,962.43 crore) registering a positive growth of 10.55per cent in dollar terms,vis-à-vis March 2018.

III.TRADE BALANCE

MERCHANDISE: The trade deficit for April 2019 was estimated at USD15.33 billion as against the deficit of USD13.72 billion in April 2018.

SERVICES: As per RBI’s Press Release dated 15th May 2019, the trade balance in Services (i.e. Net Services export) for March, 2019 is estimated at USD6.58billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April 2019* is estimated at USD8.78 billion as compared to USD7.07 billion in April 2018.

*Note: The latest data for services sector released by RBI is for March 2019. The data for April 2019 is an estimation, which will be revised based on RBI’s subsequent release.

MERCHANDISE TRADE

EXPORTS & IMPORTS: (USD billion)
(PROVISIONAL)
	APRIL
EXPORTS (including re-exports)
2018-19	25.91
2019-20	26.07
%Growth 2019-20/ 2018-19	0.64
IMPORTS
2018-19	39.63
2019-20	41.40
%Growth 2019-20/ 2018-19	4.48
TRADE BALANCE
2018-19	-13.72
2019-20	-15.33
EXPORTS & IMPORTS: (Rs. crore)
(PROVISIONAL)
	APRIL
EXPORTS(including re-exports)
2018-19	1,70,052.96
2019-20	1,81,021.34
%Growth 2019-20/ 2018-19	6.45
IMPORTS
2018-19	2,60,084.67
2019-20	2,87,432.93
%Growth 2019-20/ 2018-19	10.52
TRADE BALANCE
2018-19	-90,031.71
2019-20	-1,06,411.59

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES): (USD billion)
(Provisional)	MARCH 2019	April-March 2018-19
EXPORTS (Receipts)	17.94	205.79
IMPORTS (Payments)	11.37	125.46
TRADE BALANCE	6.58	80.33
EXPORTS & IMPORTS (SERVICES): (Rs. crore)
(Provisional)	MARCH 2019	April-March 2018-19
EXPORTS (Receipts)	1,24,672.40	14,38,948.61
IMPORTS (Payments)	78,962.43	8,77,286.65
TRADE BALANCE	45,709.97	5,61,661.96

 Note:Services data pertains March 2019 as it is the latest data available as per RBI’s Press Release dated 15th May 2019. April-March 2018-19 is arrived at by adding quarterly data of RBI for Q1, Q2 & Q3 of 2018-19 with Month-wise QE data of RBI’s press release for January, February& March 2018-19. This data is provisional and subject to revision by RBI.

•    Link for Quick Estimates

Trade deficit widens as imports outpace exports, with services surplus partially offsetting the gap. Overall trade performance in April 2019 records a widening external gap as combined merchandise and services transactions yield an increased overall trade deficit relative to the prior year, driven by faster import growth than export growth. Merchandise exports rose marginally while merchandise imports grew at a higher rate, enlarging the merchandise trade deficit. Service receipts for the latest available month show positive growth and contribute a surplus that partially offsets the merchandise deficit. All figures are provisional and subject to RBI revision.