India’s Foreign Trade: March 2018 

India’s Foreign Trade: March 2018 

India’s foreign Trade for April –March 2017-18
	Merchandise (P)		Services* (P)		Merchandise + Services (P)
	Values in USD billions	%Growth	Values in USD billions	%Growth	Values in USD billions
Exports	302.84	9.78	175.31	17.63	478.15
Import	459.67	19.59	105.65	19.74	565.32
Trade Balance	-156.83	44.54	69.66	14.56	-87.17
Source: DGCI&S for Merchandise; for Services RBI
Note 2-Services  data for  2017-18 pertains to April-Feb 2018 as Feb 2018 is the latest data available as per RBI’s Press Release.
Note 3- P : Provisionals

 

 

1. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports during 2017-18 are at US $ 302.84 Billion registering a growth of 9.78 per cent in dollar terms vis-à-vis 2016-17.

Exports during March 2018 were valued at US $ 29.11 Billion as compared to US $ 29.30 Billion during March 2017 exhibited negative growth of 0.66 per cent. In Rupee terms, exports were valued at Rs. 189271.16 crore as compared to Rs. 193028.91 crore during March 2017, registering a fall of 1.95 per cent.

During March 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-March 2017-18 was US $ 302.84 Billion (Rs 1952168.79 crore) as against US $ 275.85 Billion (Rs 1849428.76 crore) registering a positive growth of 9.78 per cent in Dollar terms and 5.56 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in March 2018 were valued at US $ 22.42 Billion as against US $ 21.44 Billion in March 2017, an increase of 4.60%. Non-petroleum and Non Gems and Jewellery exports during April-March 2017-18 were valued at US $ 222.45 Billion as compared to US $ 200.89 Billion for the corresponding period in 2016-17, an increase of 10.73%.

IMPORTS

Imports during March 2018 were valued at US $ 42.80 Billion (Rs 278296.95 crore) which was 7.15 per cent higher in Dollar terms and 5.75 per cent higher in Rupee terms over the level of imports valued at US $ 39.95 Billion (Rs. 263155.49 crore) in March 2017. Cumulative value of imports for the period April-March 2017-18 was US $ 459.67 Billion (Rs. 2962897.70 crore) as against US $ 384.36 Billion (Rs. 2577665.59 crore) registering a positive growth of 19.59 per cent in Dollar terms and 14.94 per cent in Rupee terms over the same period last year.

 

 

 

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

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during March 2018 were valued at US $ 11.11 Billion which was 13.92 percent higher than oil imports valued at US $ 9.75 Billion in March 2017. Oil imports during April- March 2017-18 were valued at US $ 109.11 Billion which was 25.47 per cent higher than the oil imports of US $ 86.96 Billion in the corresponding period last year.

In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 27.86 % in March 2018 vis-à-vis March 2017 as per World Bank commodity price data (The pink sheet).

Non-oil imports during March 2018 were estimated at US $ 31.69 Billion which was 4.96 per cent higher than non-oil imports of US $ 30.20 Billion in March 2017. Non-oil imports during April-March 2017-18 were valued at US $ 350.56 Billion which was 17.88 per cent higher than the level of such imports valued at US $ 297.39 Billion in April-March, 2016-17.

 

1. TRADE IN SERVICES (for February, 2018, as per the RBI Press Release dated 13th April 2018)

EXPORTS (Receipts)

Exports during February 2018 were valued at US $ 15.71 Billion (Rs. 101124.86 Crore) registering a negative growth of 3.84 per cent in dollar terms as compared to positive growth of 2.07 per cent during January 2018 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during February 2018 were valued at US $ 10.14 Billion (Rs. 65294.38 Crore) registering a positive growth of 3.10 per cent in dollar terms as compared to negative growth of 0.12 per cent during January 2018 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for March 2018 was estimated at US $ 13.69 Billion as against the deficit of US $ 10.65 Billion during March 2017.

SERVICES: As per RBI’s Press Release dated 13th April 2018, the trade balance in Services (i.e. net export of Services) for February, 2018 was estimated at US $ 5.57 Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2017-18 is estimated at US $ 87.17 Billion as compared to US $ 47.70 Billion during April-March 2016-17. (Services data pertains to April-February 2017-18 as February 2018 is the latest data available as per RBI’s Press Release dated 13th April 2018)

MERCHANDISE TRADE

 

EXPORTS & IMPORTS: (US $ Billion)
(PROVISIONAL)
	MARCH	APRIL-MARCH
EXPORTS (including re-exports)
2016-17	29.30	275.85
2017-18	29.11	302.84
%Growth 2017-18/ 2016-17	-0.66	9.78
IMPORTS
2016-17	39.95	384.36
2017-18	42.80	459.67
%Growth 2017-18/ 2016-17	7.15	19.59
TRADE BALANCE
2016-17	-10.65	-108.50
2017-18	-13.69	-156.83
EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
	MARCH	APRIL-MARCH
EXPORTS(including re-exports)
2016-17	193028.91	1849428.76
2017-18	189271.16	1952168.79
%Growth 2017-18/ 2016-17	-1.95	5.56
IMPORTS
2016-17	263155.49	2577665.59
2017-18	278296.95	2962897.70
%Growth 2017-18/ 2016-17	5.75	14.94
TRADE BALANCE
2016-17	-70126.58	-728236.83
2017-18	-89025.79	-1010728.92

 

 

SERVICES TRADE

 

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(Provisional)	February 2018
EXPORTS (Receipts)	15.71
IMPORTS (Payments)	10.14
TRADE BALANCE	5.57
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(Provisional)	February 2018
EXPORTS (Receipts)	101124.86
IMPORTS (Payments)	65294.38
TRADE BALANCE	35830.48
Source: RBI Press Release dated 13th April, 2018

 

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

 TRADE: EXPORT

Sl. No.	Commodities	(Values in Rs. crores)		% change
		MAR’17	MAR’18	MAR’18
1	Tea	426.57	442.92	3.83
2	Coffee	714.62	748.02	4.67
3	Rice	4221.77	5038.40	19.34
4	Other cereals	91.22	252.45	176.75
5	Tobacco	612.26	593.24	-3.11
6	Spices	2214.77	2284.31	3.14
7	Cashew	613.22	359.11	-41.44
8	Oil Meals	766.63	427.48	-44.24
9	Oil seeds	846.66	715.58	-15.48
10	Fruits & Vegetables	1920.80	1972.90	2.71
11	Cereal preparations & miscellaneous processed items	768.17	917.23	19.40
12	Marine Products	3335.11	3676.63	10.24
13	Meat, dairy & poultry products	2841.53	2684.71	-5.52
14	Iron Ore	1561.31	1148.01	-26.47
15	Mica, Coal & Other Ores, Minerals including processed minerals	2869.72	2523.33	-12.07
16	Leather & leather products	2793.08	2863.89	2.54
17	Ceramic products & glassware	1160.90	1305.00	12.41
18	Gems & Jewellery	27081.60	22300.49	-17.65
19	Drugs & Pharmaceuticals	10675.66	11422.19	6.99
20	Organic & Inorganic Chemicals	9863.04	12826.21	30.04
21	Engineering Goods	52086.43	52754.58	1.28
22	Electronic Goods	3993.91	4539.23	13.65
23	Cotton Yarn/Fabs./made-ups, Handloom Products etc.	5883.91	6636.20	12.79
24	Man-made Yarn/Fabs./made-ups etc.	2890.86	3048.20	5.44
25	RMG of all Textiles	11946.37	9694.68	-18.85
26	Jute Mfg. including Floor Covering	176.95	161.77	-8.58
27	Carpet	916.43	819.23	-10.61
28	Handicrafts excl. handmade carpet	1136.93	1209.34	6.37
29	Petroleum Products	24735.26	21185.44	-14.35
30	Plastic & Linoleum	3774.06	4725.66	25.21
	Sub-Total	182919.75	179276.43	-1.99
	GRAND   TOTAL	193028.91	189271.16	-1.95

 

Note: The figures for MARCH’18 and MARCH’17 are provisional and subject to change

 

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

TRADE: EXPORT

Sl. No.	Commodities	(Values in Million USD)		% change
		MAR’17	MAR’18	MAR’18
1	Tea	64.75	68.12	5.20
2	Coffee	108.48	115.04	6.05
3	Rice	640.86	774.88	20.91
4	Other cereals	13.85	38.83	180.36
5	Tobacco	92.94	91.24	-1.83
6	Spices	336.20	351.32	4.50
7	Cashew	93.09	55.23	-40.67
8	Oil Meals	116.37	65.74	-43.51
9	Oil seeds	128.52	110.05	-14.37
10	Fruits & Vegetables	291.58	303.42	4.06
11	Cereal preparations & miscellaneous processed items	116.61	141.07	20.98
12	Marine Products	506.27	565.45	11.69
13	Meat, dairy & poultry products	431.34	412.90	-4.28
14	Iron Ore	237.00	176.56	-25.50
15	Mica, Coal & Other Ores, Minerals including processed minerals	435.62	388.08	-10.91
16	Leather & leather products	423.99	440.45	3.88
17	Ceramic products & glassware	176.22	200.70	13.89
18	Gems & Jewellery	4110.95	3429.72	-16.57
19	Drugs & Pharmaceuticals	1620.55	1756.68	8.40
20	Organic & Inorganic Chemicals	1497.20	1972.62	31.75
21	Engineering Goods	7906.65	8113.43	2.62
22	Electronic Goods	606.27	698.11	15.15
23	Cotton Yarn/Fabs./made-ups, Handloom Products etc.	893.17	1020.62	14.27
24	Man-made Yarn/Fabs./made-ups etc.	438.83	468.80	6.83
25	RMG of all Textiles	1813.44	1491.00	-17.78
26	Jute Mfg. including Floor Covering	26.86	24.88	-7.37
27	Carpet	139.11	125.99	-9.43
28	Handicrafts excl. handmade carpet	172.58	185.99	7.77
29	Petroleum Products	3754.78	3258.23	-13.22
30	Plastic & Linoleum	572.90	726.79	26.86
	Sub-Total	27766.98	27571.94	-0.70
	GRAND   TOTAL	29301.55	29109.09	-0.66

 

Note: The figures for MARCH’18 and MARCH’17 are provisional and subject to change

 

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

TRADE: IMPORT

Sl. No.	Commodities	(Values in Rs. crores)		% change
		MAR’17	MAR’18	MAR’18
1	Cotton Raw & Waste	368.09	347.36	-5.63
2	Vegetable Oil	6989.59	5476.87	-21.64
3	Pulses	2106.15	343.08	-83.71
4	Fruits & vegetables	1044.50	996.80	-4.57
5	Pulp and Waste paper	651.61	549.10	-15.73
6	Textile yarn Fabric, made-up articles	757.24	936.59	23.68
7	Fertilisers, Crude & manufactured	1109.72	2078.60	87.31
8	Sulphur & Unroasted Iron Pyrites	82.12	129.60	57.82
9	Metalliferous ores & other minerals	3035.73	5529.44	82.15
10	Coal, Coke & Briquettes, etc.	11224.45	16027.81	42.79
11	Petroleum, Crude & products	64231.88	72223.87	12.44
12	Wood &  Wood products	2573.69	3571.56	38.77
13	Leather & leather products	495.24	526.24	6.26
14	Organic & Inorganic Chemicals	10520.53	13295.53	26.38
15	Dyeing/tanning/colouring materials.	1657.17	1608.57	-2.93
16	Artificial resins, plastic materials, etc.	7083.49	9000.62	27.06
17	Chemical material & products	3254.16	4004.36	23.05
18	Newsprint	501.23	354.93	-29.19
19	Pearls, precious & Semi-precious stones	19821.18	19716.17	-0.53
20	Iron & Steel	6421.86	8771.06	36.58
21	Non-ferrous metals	5732.39	8101.74	41.33
22	Machine tools	2133.77	2181.86	2.25
23	Machinery, electrical & non-electrical	16823.82	22153.53	31.68
24	Transport equipment	9027.18	11825.10	30.99
25	Project goods	1367.04	920.49	-32.67
26	Professional instrument, Optical goods, etc.	2636.27	3026.11	14.79
27	Electronic goods	31847.46	32230.59	1.20
28	Medicinal & Pharmaceutical products	2962.73	3180.72	7.36
29	Gold	27527.15	16218.59	-41.08
30	Silver	1345.07	1738.20	29.23
	Sub-Total	245332.51	267065.09	8.86
	GRAND   TOTAL	263155.49	278296.95	5.75

 

Note: The figures for MARCH’18 and MARCH’17 are provisional and subject to change

 

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MARCH 2018

 

TRADE: IMPORT

 

Sl. No.	Commodities	(Values in Million USD)		% change
		MAR’17	MAR’18	MAR’18
1	Cotton Raw & Waste	55.88	53.42	-4.40
2	Vegetable Oil	1061.01	842.32	-20.61
3	Pulses	319.71	52.76	-83.50
4	Fruits & vegetables	158.55	153.30	-3.31
5	Pulp and Waste paper	98.91	84.45	-14.62
6	Textile yarn Fabric, made-up articles	114.95	144.04	25.31
7	Fertilisers, Crude & manufactured	168.45	319.68	89.78
8	Sulphur & Unroasted Iron Pyrites	12.47	19.93	59.82
9	Metalliferous ores & other minerals	460.82	850.40	84.54
10	Coal, Coke & Briquettes, etc.	1703.86	2465.01	44.67
11	Petroleum, Crude & products	9750.32	11107.72	13.92
12	Wood &  Wood products	390.68	549.29	40.60
13	Leather & leather products	75.18	80.93	7.65
14	Organic & Inorganic Chemicals	1597.00	2044.80	28.04
15	Dyeing/tanning/colouring materials.	251.56	247.39	-1.66
16	Artificial resins, plastic materials, etc.	1075.26	1384.26	28.74
17	Chemical material & products	493.98	615.85	24.67
18	Newsprint	76.09	54.59	-28.26
19	Pearls, precious & Semi-precious stones	3008.83	3032.26	0.78
20	Iron & Steel	974.83	1348.95	38.38
21	Non-ferrous metals	870.17	1246.01	43.19
22	Machine tools	323.90	335.56	3.60
23	Machinery, electrical & non-electrical	2553.83	3407.12	33.41
24	Transport equipment	1370.31	1818.65	32.72
25	Project goods	207.51	141.57	-31.78
26	Professional instrument, Optical goods, etc.	400.18	465.40	16.30
27	Electronic goods	4834.40	4956.93	2.53
28	Medicinal & Pharmaceutical products	449.74	489.18	8.77
29	Gold	4178.59	2494.35	-40.31
30	Silver	204.18	267.33	30.93
	Sub-Total	37241.15	41073.45	10.29
	GRAND   TOTAL	39946.67	42800.89	7.15

 

Note: The figures for MARCH’18 and MARCH’17 are provisional and subject to change.