Feb Export Fall
again by 5.7% to 20.7bn, Imports down 5%
· Bottom in Sight? Trade Expects Pick Up by Year End
· Garments Export Up 9.2% in Rupee Term, Gold Falls 22%
I. Merchandise Trade
Exports (including
re-exports)
Exports during February, 2016
were valued at US$ 20738.60 million (Rs. 141515.41crore) which was 5.66 per cent lower in
Dollar terms (3.77 per cent higher in Rupee terms) than the level of US$
21983.43 million (Rs. 136379.94 crore) during February, 2015. Cumulative value of exports for
the period April-February 2015-16 was US$ 238418.11 million (Rs. 1556576.47 crore) as against US$ 286305.92 million
(Rs. 1746265.60 crore) registering a negative
growth of 16.73 per cent in Dollar terms and 10.86 per cent in Rupee terms over
the same period last year.
Non-petroleum exports in
February 2016 are valued at US$ 18905.53 million against US$ 19427.91 million
in February 2015, a reduction of 2.69%. Non-petroleum exports during April to
February 2016 are valued at US$ 211313.17 million as compared to US$ 232157.85
million for the corresponding period in 2015, a reduction of 8.98%.
The trend of falling exports
is in tandem with other major world economies. The growth in exports have
fallen for USA (10.35%), European Union (7.62%) and China (1.67%) for December
2015 over the corresponding period previous year as per WTO statistics.
Imports
Imports during February, 2016 were valued at US$
27280.42 million (Rs. 186155.30 crore) which was 5.03
per cent lower in Dollar terms and 4.46 per cent higher in Rupee terms over the
level of imports valued at US$ 28725.38 million (Rs.
178205.35 crore) in February, 2015. Cumulative
value of imports for the period April-February 2015-16 was US$ 351806.61
million (Rs. 2295116.34 crore) as against US$
412604.70 million (Rs. 2515834.93 crore) registering a negative growth of 14.74 per cent in
Dollar terms and 8.77 per cent in Rupee terms over the same period last year.
Crude Oil and Non-Oil Imports
Oil imports during February, 2016 were valued at
US$ 4767.69 million which was 21.92 per cent lower than oil imports valued at
US$ 6106.33 million in the corresponding period last year. Oil imports during
April-February, 2015-16 were valued at US$ 77862.30 million which was 40.52 per
cent lower than the oil imports of US$ 130906.99 million in the corresponding
period last year.
Non-oil imports during February, 2016 were
estimated at US$ 22512.73 million which was 0.47 per cent lower than non-oil
imports of US$ 22619.05 million in February, 2015. Non-oil imports during
April-February, 2015-16 were valued at US$ 273944.31 million which was 2.75 per
cent lower than the level of such imports valued at US$ 281697.71 million in
April-February, 2014-15.
II. Trade In
Services (for January,
2016, as per the RBI Press Release dated 15th March, 2016)
Exports (Receipts)
Exports during January, 2016 were valued at US$
12573 Million (Rs. 84556.32 Crore).
During January, 2016, on month-on-month basis,
growth in services export turned negative (with a growth of -10.44 per cent) as
compared to positive growth (16.80 per cent) during December 2015 (as per RBI’s
Press Release for the respective months).
Imports (Payments)
Imports during January, 2016 were valued at US$
6841 Million (Rs. 46007.30 Crore).
III. Trade Balance
Merchandise: The
trade deficit for April-February, 2015-16 was estimated at US$ 113388.50
million which was lower than the deficit of US$ 126298.78 million during
April-February, 2014-15.
Services: As per
RBI’s Press Release dated 15th March 2016, the trade balance in
Services (i.e. net export of Services) for January, 2016 was estimated at US$
5732 million. The net export of services for April-January, 2015-16 was
estimated at US$ 59289.00 million which is lower than net export of services of
US$ 62055.00 million during April-January, 2014-15 (The data for April-January
2015-16 has been derived by adding month wise QE data of RBI Press Release for
respective months).
Overall Trade Balance: Taking
merchandise and services together, overall trade deficit for April-February,
2015-16 estimated at US$ 54099.50 million as compared to US$ 64243.78 million
over same period last year has fallen by 15.79 per cent (Services data pertains
to April-January as January 2016 is the latest data available as per RBI’s
Press Release dated 15th March 2016).
Merchandise Trade
|
(Provisional) |
||
|
|
February |
April-February |
|
Exports(including re-exports) |
|
|
|
2014-15 |
21983.43 |
286305.92 |
|
2015-16 |
20738.60 |
238418.11 |
|
%Growth2015-16/ 2014-15 |
-5.66 |
-16.73 |
|
Imports |
|
|
|
2014-15 |
28725.38 |
412604.70 |
|
2015-16 |
27280.42 |
351806.61 |
|
%Growth2015-16/ 2014-15 |
-5.03 |
-14.74 |
|
Trade Balance |
|
|
|
2014-15 |
-6741.95 |
-126298.78 |
|
2015-16 |
-6541.82 |
-113388.50 |
Services Trade
|
Exports & Imports (Services) : (US $ Million) (Provisional) |
|
|
January 2015-16 |
|
|
Exports (Receipts) |
12573.00 |
|
Imports (Payments) |
6841.00 |
|
Trade Balance |
5732.00 |
|
Exports & Imports (Services): (Rs. Crore) |
|
|
(Provisional) |
January 2015-16 |
|
Exports (Receipts) |
84556.32 |
|
Imports (Payments) |
46007.30 |
|
Trade Balance |
38549.02 |
|
Source: RBI Press Release dated 15th March 2016 |
|