TaxTMI 
TaxTMI 
INDIA’S FOREIGN TRADE: February 2018
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....NDIA’S FOREIGN TRADE: February 2018 <br>News and Press Release<br>Dated:- 16-3-2018<br><BR>I. MERCHANDISE TRADE EXPORTS (including re-exports) Exports during February 2018 have exhibited positive growth of 4.48 per cent in dollar terms vis-à-vis February2017. Exports have been on a positive trajectory since August 2016 to February 2018except for a temporary setback in October 2017. Exports during February 2018were valued at US$ 25834.36million as compared to US$ 24726.71 million during February 2017. In Rupee terms, exports were valued at ₹ 166305.72 crore as compared to ₹ 165855.64 crore during February 2017, registering a riseof 0.27 per cent. During February 2018, major commodity groups of export showing posit....
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....ive growth over the corresponding month of last year are Petroleum Products (27.44%), Organic & Inorganic Chemicals (30.41%), Drugs & Pharmaceuticals (13.92%), Rice (21.29%) & Electronic Goods (29.71%). Cumulative value of exports for the period April-February 2017-18 was US$273730.91 million (Rs1762897.63 crore) as against US $246550.17 million (Rs1656399.85 crore) registering a positive growth of 11.02per cent in Dollar terms and 6.43per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems & Jewellery exports in February 2018 were valued at US$ 18792.79 million as against US$ 18176.00 million in February 2017, an increase of 3.39%. Non-petroleum and Non Gems and Jewellery exports during April-February 2017-18 w....
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....ere valued at US$ 200030.96 million as compared to US$ 179457.88 million for the corresponding period in 2016-17, an increase of 11.46%. IMPORTS Imports during February 2018 were valued at US$ 37813.57 million (Rs243420.48 crore) which was 10.41 per cent higher in Dollar terms and 5.96 per cent higher in Rupee terms over the level of imports valued at US$ 34248.44 million (Rs. 229723.10 crore) in February 2017. Cumulative value of imports for the period April-February 2017-18 was US$ 416865.64 million (Rs. 2684600.75 crore) as against US$ 344408.90 million (Rs. 2314510.09 crore) registering a positive growth of 21.04per cent in Dollar terms and 15.99per cent in Rupee terms over the same period last year. Major commodity groups of import....
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.... showing high growth in February 2018 over the corresponding month of last year are Petroleum, Crude & products (32.05%), Electronic goods (18.95%), Machinery, electrical & non-electrical (23.04%), Pearls, precious & Semi-precious stones (15.86%) and Coal, Coke & Briquettes, etc. (17.73%). CRUDE OIL AND NON-OIL IMPORTS: Oil imports during February 2018 were valued at US$ 10194.33million which was 32.05percent higher than oil imports valued at US$ 7719.84 million in February 2017.Oil imports during April-February 2017-18 were valued at US$ 98002.25 million which was 26.92per cent higher than the oil imports of US$ 77213.52 million in the corresponding period last year. In this connection it is mentioned that the global Brent prices ($/bb....
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....l) have increased by 17.90% in February 2018 vis-à-vis February 2017 as per World Bank commodity price data (The pink sheet). Non-oil imports during February 2018 were estimated at US$ 27619.24 million which was 4.11per cent higher than non-oil imports of US$ 26528.60 million in February 2017.Non-oil imports during April-February 2017-18 were valued at US$ 318863.39 million which was 19.34per cent higher than the level of such imports valued at US$ 267195.38 million in April-February, 2016-17. II. TRADE IN SERVICES (for January, 2018, as per the RBI Press Release dated 15th March 2018) EXPORTS (Receipts) Exports during January2018 were valued at US$ 16,337 million (Rs. 103963.60Crore) registering apositive growth of 2.07per cen....
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....t in dollar terms as compared to positive growth of 3.98per cent during December2017 (as per RBI's Press Release for the respective months). IMPORTS (Payments) Imports during January2018 were valued at US$ 9,847 million (Rs. 62663.25 Crore) registering a negativegrowth of 0.12 per cent in dollar terms as compared topositive growth of 2.20per cent during December2017 (as per RBI's Press Release for the respective months). III.TRADE BALANCE MERCHANDISE: The trade deficit for February 2018 was estimated at US$ 11979.21millionas against the deficit of US$ 9521.73million during February 2017. SERVICES: As per RBI's Press Release dated 15th March 2018, the trade balance in Services (i.e. net export of Services) for January,2018 was estimat....
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....ed at US$ 6,490 million. OVERALL TRADE BALANCE:Taking merchandise and services together, overall trade deficit for April-February 2017-18 is estimated at US$ 85704.73million as compared to US$ 44381.73million during April-February2016-17. (Services data pertains to April-January2017-18 as January2018 is the latest data available as per RBI's Press Release dated 15th March2018) MERCHANDISE TRADE EXPORTS & IMPORTS: (US $ Million) (PROVISIONAL) FEBRUARY APRIL-FEBRUARY EXPORTS (including re-exports) 2016-17 24726.71 246550.17 2017-18 25834.36 273730.91 %Growth 2017-18/ 2016-17 4.48 11.02 IMPORTS 2016-17 34248.44 344408.90 2017-18 37813.57 416865.64 %Growth 2017-18/ 2016-17 10.41 21.04 TRADE BALANCE 2016-17 -9521.73 ....
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.... -97858.73 2017-18 -11979.21 -143134.73 EXPORTS & IMPORTS: (Rs. Crore) (PROVISIONAL) FEBRUARY APRIL-FEBRUARY EXPORTS(including re-exports) 2016-17 165855.64 1656399.85 2017-18 166305.72 1762897.63 %Growth 2017-18/ 2016-17 0.27 6.43 IMPORTS 2016-17 229723.10 2314510.09 2017-18 243420.48 2684600.75 %Growth 2017-18/ 2016-17 5.96 15.99 TRADE BALANCE 2016-17 -63867.46 -658110.25 2017-18 -77114.76 -921703.13 SERVICES TRADE EXPORTS & IMPORTS (SERVICES) : (US $ Million) (Provisional) January 2018 EXPORTS (Receipts) 16337 IMPORTS (Payments) 9847 TRADE BALANCE 6490 EXPORTS & IMPORTS (SERVICES): (Rs. Crore) (Provisional) January 2018 EXPORTS (Receipts) 103963.60 IMPORTS (Payments) 62663.25 TRADE BAL....
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....ANCE 41300.35 Source: RBI Press Release dated 15th March, 2018 QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR FEBRUARY 2018 TRADE: EXPORT Sl. No. Commodities (Values in Rs. crores) % change FEB'17 FEB'18 FEB'18 1 Tea 384.91 401.06 4.20 2 Coffee 496.93 527.11 6.07 3 Rice 3784.01 4404.79 16.41 4 Other cereals 101.80 174.36 71.28 5 Tobacco 673.51 532.96 -20.87 6 Spices 1623.81 1707.89 5.18 7 Cashew 412.13 383.82 -6.87 8 Oil Meals 738.06 528.49 -28.39 9 Oil seeds 894.43 556.06 -37.83 10 Fruits & Vegetables 1694.21 1715.92 1.28 11 Cereal preparations & miscellaneous processed items 638.57 798.49 25.04 12 Marine Products 2729.82 2964.90 8.61 13 Meat, dairy &....
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.... poultry products 2598.01 1779.71 -31.50 14 Iron Ore 1321.19 809.34 -38.74 15 Mica, Coal & Other Ores, Minerals including processed minerals 2330.53 2139.05 -8.22 16 Leather & leather products 2745.33 2727.81 -0.64 17 Ceramic products & glassware 971.61 1233.61 26.96 18 Gems &Jewellery 26905.03 24494.89 -8.96 19 Drugs & Pharmaceuticals 8170.61 8932.82 9.33 20 Organic & Inorganic Chemicals 8570.08 10725.89 25.16 21 Engineering Goods 44769.23 42160.11 -5.83 22 Electronic Goods 3112.28 3874.27 24.48 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 5761.52 5515.04 -4.28 24 Man-made Yarn/Fabs./made-ups etc. 2590.45 2559.98 -1.18 25 RMG of all Textiles 10767.74 9275.08 -13.86 26....
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.... Jute Mfg. including Floor Covering 155.71 165.57 6.33 27 Carpet 897.65 735.63 -18.05 28 Handicrafts excl. handmade carpet 996.66 1000.57 0.39 29 Petroleum Products 17034.13 20834.36 22.31 30 Plastic & Linoleum 3316.88 3798.45 14.52 Sub-Total 157186.82 157458.01 0.17 GRAND TOTAL 165855.64 166305.72 0.27 Note: The figures for FEBRUARY'18 and FEBRUARY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR FEBRUARY 2018 TRADE: EXPORT Sl. No. Commodities (Values in Million USD) % change FEB'17 FEB'18 FEB'18 1 Tea 57.38 62.30 8.57 2 Coffee 74.08 81.88 10.53 3 Rice 564.14 684.25 21.29 4 Other cereals 15.18 27.09 78.46 5 Tobacco....
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.... 100.41 82.79 -17.55 6 Spices 242.09 265.31 9.59 7 Cashew 61.44 59.62 -2.96 8 Oil Meals 110.03 82.10 -25.38 9 Oil seeds 133.35 86.38 -35.22 10 Fruits & Vegetables 252.58 266.56 5.53 11 Cereal preparations & miscellaneous processed items 95.20 124.04 30.29 12 Marine Products 406.98 460.57 13.17 13 Meat, dairy & poultry products 387.33 276.46 -28.62 14 Iron Ore 196.97 125.73 -36.17 15 Mica, Coal & Other Ores, Minerals including processed minerals 347.45 332.29 -4.36 16 Leather & leather products 409.29 423.74 3.53 17 Ceramic products & glassware 144.85 191.63 32.30 18 Gems &Jewellery 4011.16 3805.10 -5.14 19 Drugs & Pharmaceuticals 1218.12 1387.65 13.92 20 Organic & In....
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....organic Chemicals 1277.68 1666.19 30.41 21 Engineering Goods 6674.45 6549.27 -1.88 22 Electronic Goods 464.00 601.84 29.71 23 Cotton Yarn/Fabs./made-ups, Handloom Products etc. 858.96 856.72 -0.26 24 Man-made Yarn/Fabs./made-ups etc. 386.20 397.67 2.97 25 RMG of all Textiles 1605.32 1440.82 -10.25 26 Jute Mfg. including Floor Covering 23.21 25.72 10.81 27 Carpet 133.83 114.27 -14.62 28 Handicrafts excl. handmade carpet 148.59 155.43 4.60 29 Petroleum Products 2539.55 3236.47 27.44 30 Plastic & Linoleum 494.50 590.06 19.32 Sub-Total 23434.32 24459.95 4.38 GRAND TOTAL 24726.71 25834.36 4.48 Note: The figures for FEBRUARY'18 and FEBRUARY'17 are provisional and subject to cha....
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....nge QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR FEBRUARY 2018 TRADE: IMPORT Sl. No. Commodities (Values in Rs. crores) % change FEB'17 FEB'18 FEB'18 1 Cotton Raw & Waste 213.25 277.40 30.08 2 Vegetable Oil 6320.38 5359.15 -15.21 3 Pulses 2869.72 398.32 -86.12 4 Fruits & vegetables 1034.25 1065.15 2.99 5 Pulp and Waste paper 444.82 585.08 31.53 6 Textile yarn Fabric, made-up articles 729.94 987.21 35.25 7 Fertilisers, Crude & manufactured 1128.21 1430.51 26.79 8 Sulphur & Unroasted Iron Pyrites 43.35 122.00 181.43 9 Metalliferous ores & other minerals 4761.16 4857.77 2.03 10 Coal, Coke & Briquettes, etc. 11015.45 12446.23 12.99 11 Petroleum, Crude & products 51....
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....781.21 65624.81 26.73 12 Wood & Wood products 2388.90 2952.94 23.61 13 Leather & leather products 496.66 591.84 19.16 14 Organic & Inorganic Chemicals 9501.32 11299.82 18.93 15 Dyeing/tanning/colouring materials. 1340.49 1451.54 8.28 16 Artificial resins, plastic materials, etc. 6024.97 7612.06 26.34 17 Chemical material & products 3036.85 3502.96 15.35 18 Newsprint 457.03 295.44 -35.36 19 Pearls, precious & Semi-precious stones 15010.06 16689.72 11.19 20 Iron & Steel 6340.36 7386.42 16.50 21 Non-ferrous metals 5165.11 6577.93 27.35 22 Machine tools 1521.87 2139.92 40.61 23 Machinery, electrical & non-electrical 15684.92 18521.14 18.08 24 Transport equipment 16661.26 8141.66 ....
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.... -51.13 25 Project goods 890.04 1518.39 70.60 26 Professional instrument, Optical goods, etc. 2038.15 2344.13 15.01 27 Electronic goods 22725.50 25942.92 14.16 28 Medicinal & Pharmaceutical products 2458.03 2910.47 18.41 29 Gold 23342.87 18613.25 -20.26 30 Silver 992.50 1949.21 96.39 Sub-Total 216418.63 233595.39 7.94 GRAND TOTAL 229723.10 243420.48 5.96 Note: The figures for FEBRUARY'18 and FEBRUARY'17 are provisional and subject to change QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR FEBRUARY 2018 TRADE: IMPORT Sl. No. Commodities (Values in Million USD) % change FEB'17 FEB'18 FEB'18 1 Cotton Raw & Waste 31.79 43.09 35.55 2 Vegetable Oil 942.28 832.50 -11....
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.....65 3 Pulses 427.83 61.88 -85.54 4 Fruits & vegetables 154.19 165.46 7.31 5 Pulp and Waste paper 66.32 90.89 37.05 6 Textile yarn Fabric, made-up articles 108.82 153.36 40.93 7 Fertilisers, Crude & manufactured 168.20 222.22 32.12 8 Sulphur & Unroasted Iron Pyrites 6.46 18.95 193.34 9 Metalliferous ores & other minerals 709.82 754.62 6.31 10 Coal, Coke & Briquettes, etc. 1642.25 1933.43 17.73 11 Petroleum, Crude & products 7719.84 10194.33 32.05 12 Wood & Wood products 356.15 458.72 28.80 13 Leather & leather products 74.04 91.94 24.18 14 Organic & Inorganic Chemicals 1416.51 1755.34 23.92 15 Dyeing/tanning/colouring materials. 199.85 225.49 12.83 16 Artificial resins, plast....
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....ic materials, etc. 898.24 1182.48 31.64 17 Chemical material & products 452.75 544.16 20.19 18 Newsprint 68.14 45.89 -32.65 19 Pearls, precious & Semi-precious stones 2237.79 2592.63 15.86 20 Iron & Steel 945.26 1147.43 21.39 21 Non-ferrous metals 770.04 1021.83 32.70 22 Machine tools 226.89 332.42 46.51 23 Machinery, electrical & non-electrical 2338.40 2877.12 23.04 24 Transport equipment 2483.96 1264.75 -49.08 25 Project goods 132.69 235.87 77.76 26 Professional instrument, Optical goods, etc. 303.86 364.14 19.84 27 Electronic goods 3388.05 4030.04 18.95 28 Medicinal & Pharmaceutical products 366.46 452.12 23.37 29 Gold 3480.09 2891.43 -16.92 30 Silver 147.97 302.80 ....
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....104.64 Sub-Total 32264.94 36287.33 12.47 GRAND TOTAL 34248.44 37813.57 10.41 Note: The figures for FEBRUARY'18 and FEBRUARY'17 are provisional and subject to change.<BR> News - Press release - PIB....