The trend of falling exports is in
tandem with other major world economies. The growth in exports has fallen for the
US, the EU, China and Japan by 3.87 per cent, 0.04 per cent, 25.34 per cent and
1.10 per cent, respectively for February 2016,” the release said.
India’s exports declined for the second
consecutive year in 2015-16, falling 15.85 per cent to $261.13 billion.
In April, exports declined in most
major categories including petroleum products, ready-made garments, engineering
goods, cotton yarn, carpet, leather, rice and cashew.
Some items such as gems & jewellery, tobacco, electronic products, chemicals and pharmaceuticals
posted an increase.
Oil imports in April dipped by 24.01
per cent to $ 5.6 billion. Non-oil imports too fell by 22.83 per cent to $ 19.75
billion. Gold import declined 60 per cent to $1.23 billion.
Exporters’ body FIEO expressed the
hope that export growth will turn positive from June this year, as the fall had
been “arrested’’ to some extent in March and April.
India’s Foreign
Trade (Merchandise): April, 2016
I. Merchandise Trade
Exports (including re-exports)
Exports during April,2016 were valued
at US$ 20568.85 million (Rs.136720.11 crore) which was 6.74 per cent lower in Dollar
terms (1.21 per cent lower in Rupee terms) than the level of US$ 22054.72 million
(Rs.138400.44crore) during April, 2015.
Non-petroleum exports in April 2016 are valued at US$ 18589.27
million against US$ 19299.56 million in April 2015, a reduction of 3.68 per cent.
The trend of falling exports is in tandem with other major
world economies. The growth in exports have fallen for USA (3.87 per cent), European
Union (0.04 per cent), China
(25.34 per cent) and Japan (1.10 per
cent) for February 2016 over the corresponding period of previous year as per WTO
statistics.
Imports
Imports during
April, 2016 were valued at US$ 25413.72 million (Rs.168923.71 crore) which was 23.10
per cent lower in Dollar terms and 18.54 per cent lower in Rupee terms over the
level of imports valued at US$ 33047.02 million (Rs.207380.63 crore) in April, 2015.
Crude Oil
and Non-Oil Imports
Oil imports
during April, 2016 were valued at US$ 5655.92 million which was 24.01 per cent lower
than oil imports valued at 7442.92 US$ million in the corresponding period last
year.
Non-oil imports
during April, 2016 were estimated at US$ 19757.80 million which was 22.83 per cent
lower than non-oil imports of US$ 25604.10 million in April, 2015.
II. Trade In Services (for March,
2016, as per the RBI Press Release dated 13th May, 2016)
Exports (Receipts)
Exports during
March, 2016 were valued at US$ 12895 Million (Rs. 86424.74
crore).
During March,
2016, on month-on-month basis, growth in services export turned positive (with a
growth of 4.59 per cent) as compared to negative growth (1.94 per cent) during February
2016 (as per RBI’s Press Release for the respective months).
Imports (Payments)
Imports during
March, 2016 were valued at US$ 7905 million (Rs. 52980.81
crore).
III. Trade Balance
Merchandise: The trade
deficit for April 2016 was estimated at US $ 4844.87 million which is lower than
the deficit of US $ 10992.30 million during April 2015.
Services: As per RBI’s
Press Release dated 13th May 2016, the trade balance in Services (i.e.
net export of Services) for March, 2016 was estimated at US$ 4990 million. The net
export of services for April- March, 2015-16 was estimated at US$ 69590.21 million
which is lower than net export of services of US$ 76587.55 million during April-
March, 2014-15. (The data for April- March 2015-16 has been derived by adding April-December
2015-16 with month wise QE data of RBI Press Release dated 13th May 2016).
Overall Trade
Balance: Taking merchandise and services together, overall trade
deficit for April- March, 2015-16 was estimated at US$ 48869.16 million which is
20.03 percent lower in Dollar terms than the level of US$ 61107.40 million during
April – March 2014-15.
Merchandise
Trade
|
(Provisional) |
|
|
|
April |
|
Exports(including re-exports) |
|
|
2015-16 |
22054.72 |
|
2016-17 |
20568.85 |
|
%Growth 2016-17/ 2015-16 |
-6.74 |
|
Imports |
|
|
2015-16 |
33047.02 |
|
2016-17 |
25413.72 |
|
%Growth 2016-17/ 2015-16 |
-23.10 |
|
Trade Balance |
|
|
2015-16 |
-10992.30 |
|
2016-17 |
-4844.87 |
Services Trade
|
Exports & Imports (Services) : (US $ Million) |
|
|
(Provisional) |
March 2015-16 |
|
Exports (Receipts) |
12895.00 |
|
Imports (Payments) |
7905.00 |
|
Trade Balance |
4990.00 |
|
Exports & Imports (Services): (Rs. Crore) |
|
|
(Provisional) |
March 2015-16 |
|
Exports (Receipts) |
86424.74 |
|
Imports (Payments) |
52980.81 |
|
Trade Balance |
33443.93 |
Source: RBI
Press Release dated 13th May 2016