Home » Business » INDIA’S FOREIGN TRADE: February 2018

INDIA’S FOREIGN TRADE: February 2018

 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 Rs.166305.72 crore as compared to Rs.165855.64 crore during February 2017, registering a riseof 0.27 per cent.

During February 2018, major commodity groups of export showing positive 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 were 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 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 ($/bbl) 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.

  1. 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 cent 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 estimated 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 -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 BALANCE 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 & 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 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 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 & Inorganic 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 change

 

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 51781.21 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 -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 -11.65
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, plastic 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 147.97 302.80 104.64
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.

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