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India’s Foreign Trade in April-December 2018-19 are estimated to be USD 396.73Billion

New Delhi: India’s overall exports (Merchandise and Services combined) in April-December 2018-19* are estimated to be USD 396.73Billion, exhibiting a positive growth of 13.79per cent over the same period last year. Overall imports in April-December2018-19* are estimated to be USD 479.46Billion, exhibiting a positive growth of 14.63per cent over the same period last year.

*Note: Services data pertains to April-November 2018-19 as November 2018 is the latest data available as per RBI’s Press Release dated 15th January 2019. It is arrived at by adding Month-wise QE data of RBI’s press release for April to November 2018-19. This data is provisional and subject to revision by RBI. In addition, it may be noted that data for December 2018 is estimated and added to the April-November 2018-19 data of RBI to calculate the Overall Trade Deficit for April-December 2018-19. It will be revised based on RBI’s next press release for December 2018.

 

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports in December 2018 were the US $ 27.93 Billion, as compared to the US $ 27.83 Billion in December 2017, exhibiting a positive growth of 0.34per cent. In Rupee terms, exports were Rs. 1,97,535.86 Crore in December 2018, as compared to Rs. 1,78,802.77 Crore in December 2017, registering a positive growth of 10.48 per cent.    

December 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-December 2018-19 was the US $ 245.44 Billion (Rs.17,11,905.60 Crore) as against the US $ 222.77 Billion (Rs.14,36,614.25 Crore) during the period April-December 2017-18, registering a positive growth of 10.18 per cent in Dollar terms (19.16 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery exports in December 2018 were the US $ 21.11 Billion, as compared to the US $ 20.88 Billion in December 2017, exhibiting a positive growth of 1.08 per cent. Non-petroleum and Non Gems and Jewellery exports in April-December 2018-19 were the US $ 177.66 Billion, as compared to the US $ 164.66 Billion for the corresponding period in 2017-18, an increase of 7.90 per cent.

IMPORTS

Imports in December 2018 were US $ 41.01 Billion (Rs. 2,90,032.95 Crore), which was 2.44 per cent lower in Dollar terms and 7.41 per cent higher in Rupee terms over imports of US $ 42.03 Billion (Rs.2,70,015.44Crore) in December 2017. Cumulative value of imports for the period April-December 2018-19 was the US $ 386.65 Billion (Rs.26,97,306.82 Crore), as against the US $ 343.34 Billion (Rs.22,14,370.92 Crore) during the period April-December 2017-18, registering a positive growth of 12.61 per cent in Dollar terms (21.81 per cent in Rupee terms).

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

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports in December 2018 were the US $ 10.67 Billion (Rs. 75,486.52 Crore), which was 3.16 per cent higher in Dollar terms (13.58 per cent higher in Rupee terms), compared to the US $ 10.35 Billion (Rs. 66,458.79 Crore) in December 2017. Oil imports in April-December 2018-19 were US $ 108.10 Billion (Rs. 7,55,255.78 Crore) which was 42.85 per cent higher in Dollar terms (54.73 per cent higher in Rupee terms) compared to the US $ 75.67 Billion (Rs. 4,88,125.91 Crore), over the same period last year.

In this connection, it is mentioned that the global Brent price ($/bbl) has decreased by 12.07 % in December 2018 vis-à-vis December 2017 as per data available from World Bank (Pink Sheet).

Non-oil imports inDecember 2018 were estimated at US $ 30.33 Billion (Rs.2,14,546.43 Crore) which was 4.27 per cent lower in Dollar terms (5.40percent higher in Rupee terms), compared to US $ 31.69Billion (Rs. 2,03,556.65 Crore) in December 2017. Non-oil imports in April-December 2018-19 were US $ 278.54 Billion (Rs.19,42,051.04 Crore) which was 4.06per cent higher in Dollar terms (12.50percent higher in Rupee terms), compared to US $ 267.66 Billion (Rs. 17,26,245.01 Crore) in April-December2017-18.

Non-Oil and Non-Gold imports were the US $ 27.76 billion in December 2018, recording a negative growth of 1.86per cent, as compared to Non-Oil and Non-Gold imports in December 2017. Non-Oil and Non-Gold imports were the US $ 253.89 billion in April-December 2018-19, recording a positive growth of 5.32per cent, as compared to Non-Oil and Non-Gold imports in April-December 2017-18.

 

II. TRADE IN SERVICES (for November 2018, as per the RBI Press Release dated 15th January 2019)

EXPORTS (Receipts)

Exports inNovember2018 were US $ 16.68Billion (Rs.1,19,831.25 Crore) registering a negative growth of 0.82per cent in dollar terms, vis-à-vis October 2018. (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)

Imports inNovember2018 were US $ 10.11Billion (Rs.72,637.41Crore) registering a positive growth of 0.10per cent in dollar terms,vis-à-vis October 2018.  (as per RBI’s Press Release for the respective months).

III.TRADE BALANCE

MERCHANDISE: The trade deficit for December 2018 was estimated at the US $ 13.08Billion as against the deficit of US $ 14.20Billion in December 2017.

SERVICES: As per RBI’s Press Release dated 15th January 2019, the trade balance in Services (i.e. Net Services export) for November 2018 is estimated at the US $ 6.57Billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, the overall trade deficit for April-December 2018-19* is estimated at the US $ 82.72Billion as compared to the US $ 69.63Billion in April-December 2017-18.

*Note: Services data pertains to April-November 2018-19 as November 2018 is the latest data available as per RBI’s Press Release dated 15th January 2019. It is arrived at by adding Month-wise QE data of RBI’s press release for April to November 2018-19. This data is provisional and subject to revision by RBI. In addition, it may be noted that data for December 2018 is estimated and added to the April-November 2018-19 data of RBI to calculate the Overall Trade Deficit for April-December 2018-19. It will be revised based on RBI’s next press release for December 2018.

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