Exports Fall 6.84% in July; Imports Fall 19.03%

[PIB (MoC&I) Press Release dated 12th August 2016]

I.   Merchandise Trade

Exports (including re-exports)

During July, 2016 exports were valued at US$ 21689.57 million (Rs.145770.39 crore) which was 6.84 per cent lower in Dollar terms (1.61 per cent lower in Rupee terms) than the level of US$ 23281.20 million (Rs. 148149.92 crore) during July, 2015. Cumulative value of exports for the period April-July 2016-17 was US$ 87001.34 million (Rs.582731.37 crore) as against US$ 90271.16 million (Rs.573364.73crore) registering a negative growth of 3.62 per cent in Dollar terms and positive growth of 1.63 per cent in Rupee terms over the same period last year.

Non-petroleum exports in July 2016 are valued at US$ 19192.86 million against US$ 20089.35 million in July 2015, a decrease of 4.46%. Non-petroleum exports during April to July 2016 are valued at US$ 77899.43 million as compared to US$ 78777.84 million for the corresponding period in 2015, a reduction of 1.12%.

The growth in exports have fallen for USA (-6.57%), Japan (-1.80%), China (-5.49%) but European Union exhibited positive growth (1.37%) for May 2016 over the corresponding period of previous year as per latest WTO statistics.

Imports

Imports during July 2016 were valued at US$ 29450.97 million (Rs.197932.93 crore) which was 19.03 per cent lower in Dollar terms and 14.48 per cent lower in Rupee terms over the level of imports valued at US$ 36372.07 million (Rs.231453.65 crore) in July,2015. Cumulative value of imports for the period April-July 2016-17 was US$ 113996.75 million (Rs.763687.22 crore) as against US$ 136252.57 million (Rs.865388.34 crore) registering a negative growth of 16.33 per cent in Dollar terms and 11.75 per cent in Rupee terms over the same period last year.

Crude Oil and Non-Oil Imports:

Oil imports during July, 2016 were valued at US$ 6820.34 million which was 28.10 percent lower than oil imports valued at US$ 9486.12 million in the corresponding period last year. Oil imports during April-July, 2016-17 were valued at US$ 25666.96 million which was 25.01 per cent lower than the oil imports of US$ 34225.78 million in the corresponding period last year.

Non-oil imports during July, 2016 were estimated at US$ 22630.63 million which was 15.83 per cent lower than non-oil imports of US$ 26885.95 million in July, 2015. Non-oil imports during April-July 2016-17 were valued at US$ 88329.79 million which was 13.42 per cent lower than the level of such imports valued at US$ 102026.79 million in April-July, 2015-16.

II.  Trade In Services (for June, 2016, as per the RBI Press Release dated 12th August 2016)

Exports (Receipts)

Exports during June 2016 were valued at US$ 13322 Million (Rs. 89652.93 Crore) registering a negative growth of 1.03 per cent in dollar terms as compared to positive growth of 4.28 per cent during May 2016 (as per RBI’s Press Release for the respective months).

Imports (Payments)

Imports during June 2016 were valued at US$ 8389 Million (Rs. 56455.37 Crore) registering a positive growth of 5.89 per cent in dollar terms as compared to positive growth of 10.29 per cent during May 2016 (as per RBI’s Press Release for the respective months).

III.  Trade Balance

Merchandise: The trade deficit for April-July, 2016-17 was estimated at US$ 26995.41 million which was lower than the deficit of US$ 45981.41 million during April-July, 2015-16.

Services: As per RBI’s Press Release dated 12th August 2016, the trade balance in Services (i.e. net export of Services) for June, 2016 was estimated at US$ 4933 million. The net export of services for April- June, 2016-17 was estimated at US$ 16196 million which is lower than net export of services of US$ 16487 million during April- June, 2015-16. (The data for April-June 2015-16 and 2016-17 has been derived by adding April-June month wise QE data of RBI Press Release).

Overall Trade Balance: Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- July 2016-17 is estimated at US$ 10799.41 million which is 63.38 percent lower in Dollar terms than the level of US$ 29494.41 million during April-July 2015-16. (Services data pertains to April-June 2016 as June 2016 is the latest data available as per RBI’s Press Release dated 12th August 2016)

Merchandise Trade

Exports & Imports: (US $ Million)

(Provisional)

 

July

April-July

Exports(including re-exports)

 

 

2015-16

23281.20

90271.16

2016-17

21689.57

87001.34

%Growth2016-17/ 2015-16

-6.84

-3.62

Imports

 

 

2015-16

36372.07

136252.57

2016-17

29450.97

113996.75

%Growth2016-17/ 2015-16

-19.03

-16.33

Trade Balance

 

 

2015-16

-13090.87

-45981.41

2016-17

-7761.40

-26995.41

Services Trade

Exports & Imports (Services): (US $ Million)

(Provisional)

June 2016-17

Exports (Receipts)

13322.00

Imports (Payments)

8389.00

Trade Balance

4933.00

Source: RBI Press Release dated 12th August 2016