India’s Foreign Trade: August 2019
India’s Foreign Trade: August 2019
India’s overall
exports (Merchandise and Services combined) in April-August2019-20* are
estimated to be USD 227.36 billion, exhibiting a positive growth of 3.20 per
cent over the same period last year. Overall imports in April-August 2019-20*
are estimated to be USD 268.24billion, exhibiting a negative growth of 1.18per
cent over the same period last year.
*Note: The latest
data for services sector released by RBI is for July 2019. The data for August
2019 is an estimation, which will be revised based on RBI’s subsequent release.
I. MERCHANDISE
TRADE
EXPORTS (including
re-exports)
Exports inAugust
2019 were USD26.13 billion, as compared to USD27.81 billion in August 2018,
exhibiting a negative growth of 6.05 per cent. In Rupee terms, exports were Rs.
1,85,881.11crore in August 2019, as compared to Rs. 1,93,397.12 crore in August
2018, registering a negative growth of 3.89 per cent.
In August 2019,
major commodity groups of export showing positive growth over the corresponding
month of last year are
Cumulative value of
exports for the period April-August 2019-20 was USD133.54 billion
(Rs.9,31,055.96 crore) as against USD135.62 billion (Rs.9,20,240.02 crore)
during the period April-August 2018-19, registering a negative growth of 1.53
per cent in Dollar terms (positive growth of 1.18 per cent in Rupee terms).
Non-petroleum and
Non Gems and Jewellery exports in August 2019 were USD19.60 billion, as
compared to USD20.76 billion in August 2018, exhibiting a negative growth of
5.61 per cent. Non-petroleum and Non Gems and Jewellery exports in April-August
2019-20 were USD99.41 billion, as compared to USD99.17 billion for the
corresponding period in 2018-19, an increase of 0.24 per cent.
IMPORTS
Imports in August
2019 were USD39.58 billion (Rs. 2,81,606.41 crore), which was 13.45 per cent
lower in Dollar terms and 11.46 per cent lower in Rupee terms over imports of
USD45.73 billion (Rs.3,18,043.86 crore) in August 2018. Cumulative value of
imports for the period April-August 2019-20 was USD206.39 billion (Rs.14,38,839.05crore),
as against USD218.81 billion (Rs.14,85,661.27crore) during the period
April-August 2018-19, registering a negative growth of 5.68 per cent in Dollar
terms (negative growth of 3.15per cent in Rupee terms).
Major commodity
groups of import showing negative growth in August 2019 over the corresponding
month of last year are:
CRUDE OIL AND
NON-OIL IMPORTS:
Oil imports
inAugust 2019 were USD10.88 billion (Rs. 77,380.49 crore), which was 8.90
percentlower in Dollar terms (6.81percent lower in Rupee terms), compared to
USD11.94 billion (Rs. 83,032.28 crore) in August2018. Oil imports in
April-August 2019-20 were USD55.33 billion (Rs. 3,85,835.81 crore) which was
6.34 per cent lower in Dollar terms (3.81 percent lower in Rupee terms)
compared to USD59.07billion (Rs. 4,01,124.26 crore), over the same period last
year.
In this connection
it is mentioned that the global Brent price ($/bbl) has decreased by 18.98% in
August 2019 vis-à-vis August 2018 as per data available from World Bank.
Non-oil imports
inAugust 2019 were estimated at USD28.71 billion (Rs. 2,04,225.92 crore) which
was 15.05 per cent lower in Dollar terms (13.10 percent lower in Rupee terms),
compared to USD33.79 billion (Rs. 2,35,011.57 crore) in August 2018. Non-oil
imports in April-August 2019-20 were USD151.06 billion (Rs. 10,53,003.24crore)
which was 5.43 per cent lower in Dollar terms (2.91 percent lower in Rupee
terms), compared to USD159.74 billion (Rs. 10,84,537.01crore) in
April-August2018-19.
Non-Oil and
Non-Gold imports wereUSD27.34 billion in August 2019, recording a negative
growth of 9.33 per cent, as compared to Non-Oil and Non-Gold importsof USD
30.15 billion in August 2018. Non-Oil and Non-Gold imports wereUSD136.53
billion in April-August 2019-20, recording a negative growth of 5.64 per cent,
as compared to Non-Oil and Non-Gold importsUSD 144.69 billion in April-August
2018-19.
II. TRADE IN
SERVICES
EXPORTS (Receipts)
As per the latest
press release by RBI dated 13thSeptember 2019, exports in July2019
were USD 19.08 billion (Rs. 1,31,313.76 crore) registering a positive growth of
8.72 per cent in dollar terms, vis-à-vis July 2018. The estimated value of
services export for August 2019* is USD 19.44 billion.
IMPORTS (Payments)
As per the latest
press release by RBI dated 13thSeptember 2019, imports in July 2019
were USD 12.83 billion (Rs. 88,274.17 crore) registering a positive growth of
18.24 per cent in dollar terms, vis-à-vis July 2018. The estimated value of
service Import for August 2019* is USD 13.38billion.
III.TRADE BALANCE
MERCHANDISE: The trade deficit
for August 2019 was estimated at USD13.45 billion as against the deficit of
USD17.92 billion inAugust 2018.
SERVICES: As per RBI’s
Press Release dated 13thSeptember 2019, the trade balance in
Services (i.e. Net Services export) for July, 2019 is estimated at USD6.26
billion.
OVERALL TRADE
BALANCE: Taking merchandise and services together, overall trade deficit
for April-August 2019-20* is estimated at USD40.89billion as compared to
USD51.13billion in April-August 2018-19.
*Note: The latest
data for services sector released by RBI is for July 2019. The data for August
2019 is an estimation, which will be revised based on RBI’s subsequent release.
MERCHANDISE TRADE
|
(PROVISIONAL)
|
||
|
|
AUGUST
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APRIL-AUGUST
|
|
EXPORTS(including re-exports)
|
|
|
|
2018-19
|
27.81
|
135.62
|
|
2019-20
|
26.13
|
133.54
|
|
%Growth 2019-20/ 2018-19
|
-6.05
|
-1.53
|
|
IMPORTS
|
|
|
|
2018-19
|
45.73
|
218.81
|
|
2019-20
|
39.58
|
206.39
|
|
%Growth 2019-20/ 2018-19
|
-13.45
|
-5.68
|
|
TRADE BALANCE
|
|
|
|
2018-19
|
-17.92
|
-83.19
|
|
2019-20
|
-13.45
|
-72.85
|
|
|
|
|
|
EXPORTS &IMPORTS: (Rs. Crore)
|
|
|
|
(PROVISIONAL)
|
|
|
|
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AUGUST
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APRIL-AUGUST
|
|
EXPORTS(including re-exports)
|
|
|
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2018-19
|
1,93,397.12
|
9,20,240.02
|
|
2019-20
|
1,85,881.11
|
9,31,055.96
|
|
%Growth 2019-20/ 2018-19
|
-3.89
|
1.18
|
|
IMPORTS
|
|
|
|
2018-19
|
3,18,043.86
|
14,85,661.27
|
|
2019-20
|
2,81,606.41
|
14,38,839.05
|
|
%Growth 2019-20/ 2018-19
|
-11.46
|
-3.15
|
|
TRADE BALANCE
|
|
|
|
2018-19
|
-1,24,646.73
|
-5,65,421.25
|
|
2019-20
|
-95,725.30
|
-5,07,783.09
|
SERVICES TRADE
|
(PROVISIONAL)
|
July 2019
|
April-July 2019-20
|
|
EXPORTS (Receipts)
|
19.08
|
74.38
|
|
IMPORTS (Payments)
|
12.83
|
48.48
|
|
TRADE BALANCE
|
6.26
|
25.90
|
|
|
|
|
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EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
|
||
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(PROVISIONAL)
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July 2019
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April-July 2019-20
|
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EXPORTS (Receipts)
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1,31,313.76
|
5,15,865.75
|
|
IMPORTS (Payments)
|
88,274.17
|
3,36,242.10
|
|
TRADE BALANCE
|
43,039.59
|
1,79,623.65
|
|
Source: RBI Press Release dated 13thSeptember
2019
|
|
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Note: Services data
pertains toJuly 2019 as it is the latest data available as per RBI’s Press
Release dated 13thSeptember 2019. This data is provisional and
subject to revision by RBI.
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