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MERCHANDIZE EXPORTS AND IMPORTS GREW BY 8.32% AND 33.09% DURING MAY 2017



17.06.2017 18:21:19 - JUNE 16, 2017LEAVE A COMMENT ON MERCHANDIZE EXPORTS AND IMPORTS GREW BY 8.32% AND 33.09% DURING MAY 2017

(live-PR.com) - Merchandize Trade
Exports Imports
India’s merchandize exports have continued with commendable growth rate by registering a remarkable growth figure of 8.32% in May 2017 to value at USD 24.01 billion compared to USD 22.17 billion during May 2016.


Cumulative value of exports for the period April-May 2017-18 stood at USD 48.65 billion as against USD 42.74 billion registering a growth of 13.83% over

 

the same period last year.

On the other hand, India’s merchandize imports also witnessed expansion, growing by 33.09% to value at USD 37.85 billion in May 2017 compared to USD 28.44 billion during same period previous year.


Cumulative value of imports for the period April-May 2017-18 was USD 75.74 billion as against USD 53.85 billion registering a growth of 40.63% over the same period last year.



India’s Trade Statistics at a Glance

Merchandise Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17
Exports (USD billion) 20.1 23.9 22.1 24.5 29.2 24.63 24.01
Growth (%) 2.29 5.72 4.32 17.48 27.6 19.77 8.32
Imports (USD billion) 33.1 34.3 31.9 33.4 39.7 37.89 37.86
Growth (%) 10.44 0.46 10.7 21.76 45.2 49.07 33.09
Trade Balance (USD billion) – 13.01 -10.37 -9.84 -8.89 -10.44 -13.25 -13.84
Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India



Trend in Exports-Imports Growth (%)

Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India



Trend in Exports-Imports Value (in Billion)

Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India



Non-Petroleum and Non-Gems Exports

Non-petroleum and Non Gems & Jewellery exports in May 2017 were valued at USD 17.51 billion against USD 16.40 billion in May 2016, registered an increase of 6.77%. Non-petroleum and Non Gems and Jewellery exports during April -May 2017-18 were valued at USD 35.23 billion as compared to USD 31.54 billion for the corresponding period in 2016-17, registered an increase of 11.71%.

Crude oil and Non-Oil Imports

Oil imports during May 2017 were valued at USD 7.69 billion which was 29.54% higher than oil imports valued at USD 5.93 billion in May 2016. Oil imports during April-May, 2017-18 were valued at USD 15.05 billion which was 29.82% higher than the oil imports of USD 11.594 billion in the corresponding period last year.

In this connection it is mentioned that the global Brent prices (USD/bbl) have increased by 7.94% in May 2017 vis-ŕ-vis May 2016 as per World Bank commodity price data.

Non-oil imports during May, 2017 were estimated at USD 30.16 billion which was 34.03% higher than non-oil imports of USD 22.50 billion in May, 2016. Non-oil imports during April-May 2017-18 were valued at USD 60.68 billion which was 43.60% higher than the level of such imports valued at USD 42.26 billion in April-May 2016-17.

Trade in Services

Exports (Receipts) during April 2017 were valued at USD 12.90 billion (Rs. 83239.96 Crore) registering a negative growth of 8.99% in dollar terms as compared to positive growth of 8.57% during March 2017.

Imports (Payments) during April 2017 were valued at USD 7.22 billion (Rs. 46587.03 Crore) registering a negative growth of 12.64% in dollar terms as compared to positive growth of 14.26% during March 2017.

As per RBI’s Press Release dated 15th June 2017, the trade balance in Services (i.e. net export of Services) for April, 2017 was estimated at USD 5.68 billion.



Services Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17
Exports (Receipts) (USD billion) 13.12 13.34 13.81 13.57 13.06 14.18 12.90
Imports (Payments) (USD billion) 7.68 8.32 8.29 8.41 7.23 8.27 7.22
Trade Balance (USD billion) 5.43 5.01 5.51 5.16 5.82 5.92 5.68
Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India

Overall Trade Balance (2016-17)

Taking merchandise and services together, overall trade deficit for April- May 2017-18 is estimated at USD 21.40 billion as compared to USD 5.39 billion during April-May 2016-17.



India’s Balance of Trade with various countries

Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India

India’s Major Trading Partners

Nation 2016-17
(Apr – Feb)
Volume (in USD billion) Share in India’s total trade(%)
China 64.45 11.0%
USA 58.27 10.0%
UAE 46.91 8.0%
Saudi Arab 21.99 3.8%
Hong Kong 19.42 3.3%
Germany 16.93 2.9%
Switzerland 15.60 2.7%
Indonesia 15.19 2.6%
South Korea 14.87 2.5%
Singapore 14.82 2.5%
Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India

India’s Major Export Destinations

Nation 2016-17
(Apr – Feb)
Volume (in USD billion) Share in India’s total exports (%)
UAE 33.82 13.54%
USA 25.29 10.12%
China 14.16 5.76%
Hong Kong 10.32 5.67%
Singapore 9.82 4.13%
Netherlands 7.67 3.93%
UK 7.28 3.07%
Germany 6.75 2.92%
Belgium 5.78 2.70%
Saudi Arab 5.04 2.32%
Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India

India’s Major Import Sources

Nation 2016-17
(Apr – Feb)
Volume (in USD billion) Share in India’s total imports (%)
China 55.62 16.3%
USA 20.09 5.9%
UAE 19.13 5.6%
Saudi Arab 17.48 5.1%
Switzerland 14.81 4.3%
Indonesia 12.09 3.5%
South Korea 11.24 3.3%
Germany 10.47 3.1%
Iraq 10.05 2.9%
Australia 9.76 2.9%
Source: PHD Research Bureau, compiled from Ministry of Commerce and Industry, Govt of India



Please contact for any query related to this mail to Mr. Rohit Singh, Research Associate at rohit.singh@phdcci.in with a cc to Dr. S P Sharma, Chief Economist at spsharma@phdcci.in and Ms. Surbhi Sharma, Senior Research Officer atsurbhi@phdcci.in, PHD Chamber of Commerce & Industry.


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