India's Foreign Trade: January 2018

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

New Delhi: Exports during January 2018 have exhibited positive growth of 9.07per cent in dollar terms vis-à-vis January 2017. Exports have been on a positive trajectory since August 2016 to January 2018 with a dip of 1.1 per cent in the month of October 2017.

Exports during January 2018valued at US$ 24383.97 million as compared to US$ 22356.32 million during January 2017. In Rupee terms, exports were valued at Rs.155172.00crore as compared to Rs.152202.70crore during January 2017, registering a riseof 1.95per cent.          

During January 2018, Major commodity groups of export showing positive growth over the corresponding month of last year areEngineering Goods (15.77%), Petroleum Products (39.5%), Gems & Jewellery (0.89%), Organic & Inorganic Chemicals (33.6%) and Drugs & Pharmaceuticals (8.6%).

Cumulative value of exports for the period April-January 2017-18 was US$247896.55 million (Rs1596591.91crore) as against US $221823.46million (Rs1490544.21 crore) registering a positive growth of 11.75 per cent in Dollar terms and 7.11 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in January 2018 were valued at US$ 17523.24 million as against US$ 16607.36 million in January 2017, an increase of 5.51%. Non-petroleum and Non Gems and Jewellery exports during April-January 2017-18 were valued at US$ 181238.18 million as compared to US$ 161281.88 million for the corresponding period in 2016-17, an increase of 12.37%.

IMPORTS

Imports during January 2018 were valued at US$ 40682.44 million (Rs258890.43 crore) which was 26.10 per cent higher in Dollar terms and 17.87 per cent higher in Rupee terms over the level of imports valued at US$ 32261.14 million (Rs. 219635.13 crore) in January 2017. Cumulative value of imports for the period April-January 2017-18 was US$ 379052.07million (Rs. 2441180.27 crore) as against US$ 310160.46 million (Rs. 2084786.99crore) registering a positive growth of 22.21 per cent in Dollar terms and 17.09per cent in Rupee terms over the same period last year.

Major commodity groups of import showing high growth in January 2018 over the corresponding month of last year are Petroleum, Crude & products (42.64%), Electronic goods (12.19%), Machinery, electrical & non-electrical (29.11%), Pearls, precious & Semi-precious stones (55.71%) and Coal, Coke & Briquettes, etc. (31.67%).

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during January 2018 were valued at US$ 11659.07million which was 42.64percent higher than oil imports valued at US$ 8173.96million in January 2017.Oil imports during April-January 2017-18 were valued at US$ 87807.92 million which was 26.35per cent higher than the oil imports of US$ 69493.68 million in the corresponding period last year.

In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 25.69% in January 2018 vis-à-vis January 2017 as per World Bank commodity price data (The pink sheet).

Non-oil imports during January 2018 were estimated at US$ 29023.37 million which was 20.49 per cent higher than non-oil imports of US$ 24087.18 million in January 2017 Non-oil imports during April-January 2017-18 were valued at US$ 291244.15 million which was 21.02 per cent higher than the level of such imports valued at US$ 240666.78 million in April-January, 2016-17.

II. TRADE IN SERVICES (for December, 2017, as per the RBI Press Release dated 15th February 2018)

EXPORTS (Receipts)

Exports during December2017 were valued at US$ 16,005million (Rs. 102819.83Crore) registering apositive growth of 3.98per cent in dollar terms as compared to positive growth of 8.76per cent during November2017 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports during December2017 were valued at US$ 9,859million (Rs. 63336.50Crore) registering a positivegrowth of 2.20per cent in dollar terms as compared topositive growth of 10.89per cent during November2017 (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for January 2018 was estimated at US$ 16298.47millionas against the deficit of US$ 9904.82million during January 2017.

SERVICES: As per RBI’s Press Release dated 15th February 2018, the trade balance in Services (i.e. net export of Services) for December, 2017 was estimated at US$ 6,146million.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-January 2017-18 is estimated at US$ 80215.52million as compared to US$ 40021.00million during April-January 2016-17. (Services data pertains to April-December2017-18 as December2017 is the latest data available as per RBI’s Press Release dated 15th February2018)

MERCHANDISE TRADE

EXPORTS & IMPORTS: (US $ Million)
(PROVISIONAL)
	JANUARY	APRIL-JANUARY
EXPORTS (including re-exports)
2016-17	22356.32	221823.46
2017-18	24383.97	247896.55
%Growth 2017-18/ 2016-17	9.07	11.75
IMPORTS
2016-17	32261.14	310160.46
2017-18	40682.44	379052.07
%Growth 2017-18/ 2016-17	26.10	22.21
TRADE BALANCE
2016-17	-9904.82	-88337.00
2017-18	-16298.47	-131155.52
EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
	JANUARY	APRIL-JANUARY
EXPORTS(including re-exports)
2016-17	152202.70	1490544.21
2017-18	155172.00	1596591.91
%Growth 2017-18/ 2016-17	1.95	7.11
IMPORTS
2016-17	219635.13	2084786.99
2017-18	258890.43	2441180.27
%Growth 2017-18/ 2016-17	17.87	17.09
TRADE BALANCE
2016-17	-67432.43	-594242.78
2017-18	-103718.43	-844588.37

 

SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(Provisional)	December 2017
EXPORTS (Receipts)	16005
IMPORTS (Payments)	9859
TRADE BALANCE	6146
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(Provisional)	December 2017
EXPORTS (Receipts)	102819.83
IMPORTS (Payments)	63336.50
TRADE BALANCE	39483.33
Source: RBI Press Release dated 15th February, 2018

 

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018

TRADE: EXPORT

Sl. No.	Commodities	(Values in Rs. crores)		% change
		JAN'17	JAN'18	JAN'18
1	Tea	426.85	448.93	5.17
2	Coffee	353.98	336.20	-5.02
3	Rice	3526.19	4211.61	19.44
4	Other cereals	166.74	89.77	-46.16
5	Tobacco	386.49	503.59	30.30
6	Spices	1480.06	1421.30	-3.97
7	Cashew	440.15	423.87	-3.70
8	Oil Meals	660.94	594.70	-10.02
9	Oil seeds	1053.55	537.14	-49.02
10	Fruits & Vegetables	1371.80	1426.61	4.00
11	Cereal preparations & miscellaneous processed items	623.98	701.71	12.46
12	Marine Products	2739.21	3012.14	9.96
13	Meat, dairy & poultry products	1863.36	1886.16	1.22
14	Iron Ore	1219.24	564.42	-53.71
15	Mica, Coal & Other Ores, Minerals including processed minerals	1867.09	2076.12	11.20
16	Leather & leather products	2830.84	2795.43	-1.25
17	Ceramic products & glassware	983.11	1054.39	7.25
18	Gems &Jewellery	20438.90	19274.96	-5.69
19	Drugs & Pharmaceuticals	8662.06	8793.40	1.52
20	Organic & Inorganic Chemicals	8216.87	10261.48	24.88
21	Engineering Goods	37437.27	40511.85	8.21
22	Electronic Goods	3168.90	2934.98	-7.38
23	Cotton Yarn/Fabs./made-ups, Handloom Products etc.	6354.71	5369.18	-15.51
24	Man-made Yarn/Fabs./made-ups etc.	2764.17	2564.23	-7.23
25	RMG of all Textiles	10372.82	8883.26	-14.36
26	Jute Mfg. including Floor Covering	186.09	180.45	-3.03
27	Carpet	808.27	708.26	-12.37
28	Handicrafts excl. handmade carpet	981.31	882.13	-10.11
29	Petroleum Products	18700.23	24384.55	30.40
30	Plastic & Linoleum	3172.23	3862.81	21.77
	Sub-Total	143257.41	150695.63	5.19
	GRAND   TOTAL	152202.70	155172.00	1.95

 

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018

TRADE: EXPORT

Sl. No.	Commodities	(Values in Million USD)		% change
		JAN'17	JAN'18	JAN'18
1	Tea	62.70	70.55	12.52
2	Coffee	51.99	52.83	1.62
3	Rice	517.94	661.82	27.78
4	Other cereals	24.49	14.11	-42.38
5	Tobacco	56.77	79.13	39.39
6	Spices	217.40	223.35	2.74
7	Cashew	64.65	66.61	3.03
8	Oil Meals	97.08	93.45	-3.74
9	Oil seeds	154.75	84.41	-45.45
10	Fruits & Vegetables	201.50	224.18	11.26
11	Cereal preparations & miscellaneous processed items	91.65	110.27	20.32
12	Marine Products	402.35	473.33	17.64
13	Meat, dairy & poultry products	273.70	296.39	8.29
14	Iron Ore	179.09	88.69	-50.48
15	Mica, Coal & Other Ores, Minerals including processed minerals	274.25	326.24	18.96
16	Leather & leather products	415.81	439.28	5.64
17	Ceramic products & glassware	144.40	165.69	14.74
18	Gems &Jewellery	3002.17	3028.90	0.89
19	Drugs & Pharmaceuticals	1272.33	1381.81	8.60
20	Organic & Inorganic Chemicals	1206.94	1612.50	33.60
21	Engineering Goods	5498.98	6366.09	15.77
22	Electronic Goods	465.46	461.21	-0.91
23	Cotton Yarn/Fabs./made-ups, Handloom Products etc.	933.41	843.72	-9.61
24	Man-made Yarn/Fabs./made-ups etc.	406.02	402.95	-0.76
25	RMG of all Textiles	1523.61	1395.93	-8.38
26	Jute Mfg. including Floor Covering	27.33	28.36	3.77
27	Carpet	118.72	111.30	-6.25
28	Handicrafts excl. handmade carpet	144.14	138.62	-3.83
29	Petroleum Products	2746.79	3831.83	39.50
30	Plastic & Linoleum	465.95	607.01	30.27
	Sub-Total	21042.37	23680.56	12.54
	GRAND   TOTAL	22356.32	24383.97	9.07

 

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018

TRADE: IMPORT

Sl. No.	Commodities	(Values in Rs. crores)		% change
		JAN'17	JAN'18	JAN'18
1	Cotton Raw & Waste	231.41	198.69	-14.14
2	Vegetable Oil	5594.51	5907.47	5.59
3	Pulses	3175.59	755.96	-76.19
4	Fruits & vegetables	1084.78	1289.83	18.90
5	Pulp and Waste paper	611.57	525.87	-14.01
6	Textile yarn Fabric, made-up articles	806.97	960.13	18.98
7	Fertilisers, Crude & manufactured	1644.24	2819.37	71.47
8	Sulphur& Unroasted Iron Pyrites	74.57	119.29	59.97
9	Metalliferous ores & other minerals	4045.71	6491.49	60.45
10	Coal, Coke & Briquettes, etc.	11378.75	14004.63	23.08
11	Petroleum, Crude & products	55648.68	74194.72	33.33
12	Wood &  Wood products	2462.09	3141.65	27.60
13	Leather & leather products	479.62	532.55	11.04
14	Organic & Inorganic Chemicals	8234.72	11425.26	38.74
15	Dyeing/tanning/colouring materials.	1220.81	1754.62	43.73
16	Artificial resins, plastic materials, etc.	5863.28	7821.83	33.40
17	Chemical material & products	3059.23	4088.89	33.66
18	Newsprint	451.60	289.49	-35.90
19	Pearls, precious & Semi-precious stones	10518.84	15309.91	45.55
20	Iron & Steel	6825.42	8220.34	20.44
21	Non-ferrous metals	5446.24	7257.05	33.25
22	Machine tools	1660.37	2398.56	44.46
23	Machinery, electrical & non-electrical	15849.56	19128.31	20.69
24	Transport equipment	12749.27	12398.78	-2.75
25	Project goods	1190.97	873.33	-26.67
26	Professional instrument, Optical goods, etc.	2075.92	2325.11	12.00
27	Electronic goods	26555.36	27848.56	4.87
28	Medicinal & Pharmaceutical products	2767.31	3023.28	9.25
29	Gold	13890.79	10119.16	-27.15
30	Silver	1334.47	1650.92	23.71
	Sub-Total	206932.65	246875.05	19.30
	GRAND   TOTAL	219635.13	258890.43	17.87

 

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR JANUARY 2018

TRADE: IMPORT

No.	Commodities	(Values in Million USD)		% change
		JAN'17	JAN'18	JAN'18
1	Cotton Raw & Waste	33.99	31.22	-8.15
2	Vegetable Oil	821.75	928.31	12.97
3	Pulses	466.45	118.79	-74.53
4	Fruits & vegetables	159.34	202.69	27.21
5	Pulp and Waste paper	89.83	82.64	-8.00
6	Textile yarn Fabric, made-up articles	118.53	150.88	27.29
7	Fertilisers, Crude & manufactured	241.51	443.04	83.45
8	Sulphur& Unroasted Iron Pyrites	10.95	18.75	71.23
9	Metalliferous ores & other minerals	594.26	1020.08	71.66
10	Coal, Coke & Briquettes, etc.	1671.37	2200.71	31.67
11	Petroleum, Crude & products	8173.96	11659.07	42.64
12	Wood &  Wood products	361.64	493.68	36.51
13	Leather & leather products	70.45	83.69	18.79
14	Organic & Inorganic Chemicals	1209.56	1795.38	48.43
15	Dyeing/tanning/colouring materials.	179.32	275.72	53.76
16	Artificial resins, plastic materials, etc.	861.23	1229.13	42.72
17	Chemical material & products	449.36	642.53	42.99
18	Newsprint	66.33	45.49	-31.42
19	Pearls, precious & Semi-precious stones	1545.06	2405.82	55.71
20	Iron & Steel	1002.55	1291.76	28.85
21	Non-ferrous metals	799.97	1140.38	42.55
22	Machine tools	243.88	376.91	54.55
23	Machinery, electrical & non-electrical	2328.06	3005.85	29.11
24	Transport equipment	1872.68	1948.36	4.04
25	Project goods	174.94	137.24	-21.55
26	Professional instrument, Optical goods, etc.	304.92	365.37	19.82
27	Electronic goods	3900.59	4376.17	12.19
28	Medicinal & Pharmaceutical products	406.48	475.08	16.88
29	Gold	2040.35	1590.14	-22.07
30	Silver	196.01	259.43	32.36
	Sub-Total	30395.32	38794.31	27.63
	GRAND   TOTAL	32261.14	40682.44	26.10

 

Note: The figures for JANUARY'18 and JANUARY'17 are provisional and subject to change.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.