INDIA’S FOREIGN TRADE: July 2018 

 

1. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during July 2018 were valued at US $ 25.77 Billion as compared to US $ 22.54    Billion during July 2017 exhibiting a positive growth of 14.32 per cent. In Rupee terms, exports were valued at Rs. 1,77,041.47crore in July 2018 as compared to Rs. 1,45,308.10crore during July 2017, registering a positive growth of 21.84 per cent.

During July 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-July2018-19 was US$108.24 Billion (Rs 7,29,823.08crore) as against US $94.76 Billion (Rs 6,10,780.14crore) registering a positive growth of 14.23per cent in Dollar terms and 19.49 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems and Jewellery exports during July 2018 were valued at US $ 18.68 Billion as compared to US $ 16.98 Billion during July 2017 exhibiting a positive growth of 9.98 per cent. Non-petroleum and Non Gems andJewellery exports during April-July2018-19 were valued at US$ 78.54 Billion as compared to US$ 69.70 Billion for the corresponding period in 2017-18, an increase of 12.69 %.

IMPORTS

Imports during July 2018 were valued at US$ 43.79 Billion (Rs3,00,784.72crore) which was 28.81 per cent higher in Dollar terms and 37.28 per cent higher in Rupee terms over the level of imports valued at US$ 33.99 Billion (Rs. 2,19,108.89crore) in July 2017. Cumulative value of imports for the period April-July2018-19 was US$ 171.20 Billion (Rs. 11,54,881.70crore) as against US$ 146.26 Billion (Rs. 9,42,740.00crore) registering a positive growth of 17.05 per cent in Dollar terms and 22.50 per cent in Rupee terms over the same period last year.

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

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during July 2018 were valued at US$ 12.35Billion(Rs. 84,828.57crore) which was 57.41 percent higher in Dollar terms and 67.76 percent higher in Rupee terms compared to US$ 7.84 Billion (Rs. 50,565.29crore) in July 2017.Oil imports during April-July2018-19 were valued at US$ 46.98 Billion (Rs. 3,17,097.71crore) which was 51.45 per cent higher in Dollar terms and 58.58 percent higher in Rupee terms compared to US$ 31.02 Billion (Rs. 1,99,961.19crore) in the corresponding period last year.

In this connection it is mentioned that the global Brent price ($/bbl) has increased by 53.16% in July 2018 vis-à-vis July 2017 as per data available from US Energy Information Administration(EIA).

Non-oil imports during July 2018 were estimated at US$ 31.44Billion(Rs.2,15,956.15crore) which was 20.23 per cent higherin Dollar terms and 28.13 percent higher in Rupee terms compared to US$ 26.15 Billion (Rs. 1,68,543.60crore) in July 2017.Non-oil imports during April-July2018-19 were valued at US$ 124.21 Billion(Rs.8,37,783.99crore) which was 7.79 per cent higher in Dollar terms and 12.79 percent higher in Rupee terms compared to US$ 115.23 Billion (Rs. 7,42,778.81crore in April-July, 2017-18.

Non-Oil and Non-Gold imports in July 2018 valued at US $ 28.47 billion has recorded a positive growth of 18.42 % as compared to Non-Oil and Non-Gold import in July 2017. Non-Oil and Non-Gold imports in April-July 2018 valued at US $ 112.80 billion has recorded a positive growth of 10.74 % as compared to Non-Oil and Non-Gold import in April-July 2017.

 

1. TRADE IN SERVICES (for June, 2018, as per the RBI Press Release dated 14th August 2018)

EXPORTS (Receipts)

Exports during June 2018 were valued at US$ 16.87Billion (Rs.1,14,380.52Crore) registering apositive growth of 4.32per cent in dollar terms as compared to negative growth of 7.91per cent during May2018(as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during June2018 were valued at US$ 10.30Billion (Rs. 69,820.11Crore) registering a positivegrowth of 0.89per cent in dollar terms as compared tonegativegrowth of 6.48per cent during May2018(as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for July 2018 was estimated at US$ 18.02Billionas against the deficit of US$ 11.45Billion during July 2017.

SERVICES: As per RBI’s Press Release dated 14th August 2018, the trade balance in Services (i.e. net export of Services) for June,2018 was estimated at US$ 6.57Billion.

OVERALL TRADE BALANCE:Taking merchandise and services together, overall trade deficit for April-July2018-19 is estimated at US$ 43.77Billion as compared to US$ 34.07 Billion during April-July2017-18. (Services data pertains to April-June 2018-19 as June 2018is the latest data available as per RBI’s Press Release dated 14th August 2018)

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MERCHANDISE TRADE

 

 

EXPORTS & IMPORTS: (US $ Billion)
(PROVISIONAL)
	JULY	APRIL-JULY
EXPORTS (including re-exports)
2017-18	22.54	94.76
2018-19	25.77	108.24
%Growth 2018-19/ 2017-18	14.32	14.23
IMPORTS
2017-18	33.99	146.26
2018-19	43.79	171.20
%Growth 2018-19/ 2017-18	28.81	17.05
TRADE BALANCE
2017-18	-11.45	-51.50
2018-19	-18.02	-62.96
EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
	JULY	APRIL-JULY
EXPORTS(including re-exports)
2017-18	1,45,308.10	6,10,780.14
2018-19	1,77,041.47	7,29,823.08
%Growth 2018-19/ 2017-18	21.84	19.49
IMPORTS
2017-18	2,19,108.89	9,42,740.00
2018-19	3,00,784.72	11,54,881.70
%Growth 2018-19/ 2017-18	37.28	22.50
TRADE BALANCE
2017-18	-73,800.79	-3,31,959.86
2018-19	-1,23,743.25	-4,25,058.62

 

 

SERVICES TRADE

 

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(Provisional)	JUNE 2018
EXPORTS (Receipts)	16.87
IMPORTS (Payments)	10.30
TRADE BALANCE	6.57
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(Provisional)	JUNE 2018
EXPORTS (Receipts)	1,14,380.52
IMPORTS (Payments)	69,820.11
TRADE BALANCE	44,560.40
Source: RBI Press Release dated 14th August, 2018