PIB News Update: India’s overall exports (Merchandise and Services combined) in April-November2019-20* are estimated to be USD 353.96 billion, exhibiting a positive growth of 1.60 per cent over the same period last year. Overall imports in April-November 2019-20* are estimated to be USD 408.02 billion, exhibiting a negative growth of (-)5.30 per cent over the same period last year.
*Note: The latest data for services sector released by RBI is for October 2019. The data for November 2019 is an estimation, which will be revised based on RBI’s subsequent release.
I. MERCHANDISE TRADE
EXPORTS (including re-exports)
Exports inNovember 2019 were USD25.98 billion, as compared to USD26.07 billion in November 2018, exhibiting a negative growth of (-)0.34 per cent. In Rupee terms, exports were Rs. 1,85,644.81 crore in November 2019, as compared to Rs. 1,87,335.14 crore in November 2018, registering a negative growth of (-)0.90 per cent.
In November 2019, major commodity groups of export showing positivegrowth over the corresponding month of last year are
Cumulative value of exports for the period April-November 2019-20 was USD211.93 billion (Rs.14,89,793.87 crore) as against USD216.23 billion (Rs.15,05,216.55 crore) during the period April-November 2018-19, registering a negative growth of (-)1.99 per cent in Dollar terms (negative growth of (-)1.02 per cent in Rupee terms).
Non-petroleum and Non Gems and Jewellery exports in November 2019 were USD19.31 billion, as compared to USD18.55 billion in November 2018, exhibiting a positive growth of 4.08 per cent. Non-petroleum and Non Gems and Jewellery exports in April-November 2019-20 were USD156.76 billion, as compared to USD156.49 billion for the corresponding period in 2018-19, anincrease of 0.17per cent.
IMPORTS
Imports in November 2019 were USD38.11 billion (Rs.2,72,274.45 crore), which was 12.71 per cent lower in Dollar terms and 13.20 per cent lower in Rupee terms over imports of USD43.66 billion (Rs.3,13,680.85 crore) in November 2018. Cumulative value of imports for the period April-November 2019-20 was USD318.78 billion (Rs.22,39,900.18 crore), as against USD349.96 billion (Rs.24,37,538.61 crore) during the period April-November 2018-19, registering a negative growth of (-)8.91 per cent in Dollar terms (negative growth of (-)8.11 per cent in Rupee terms).
Major commodity groups of import showing negative growth in November 2019 over the corresponding month of last year are:
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports inNovember 2019 were USD11.06 billion (Rs. 79,040.21crore), which was 18.17 percentlower in Dollar terms (18.63 percent lower in Rupee terms), compared to USD13.52 billion (Rs. 97,134.45 crore) in November2018. Oil imports in April-November 2019-20 were USD84.99 billion (Rs. 5,97,310.87 crore) which was 12.99 per cent lower in Dollar terms (12.35 percent lower in Rupee terms) compared to USD97.69 billion (Rs. 6,81,497 crore), over the same period last year.
In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 3.73 % in November 2019 vis-à-vis November 2018 as per data available from World Bank.
Non-oil imports inNovember 2019 were estimated at USD27.04 billion (Rs. 1,93,234.24 crore) which was 10.26 per cent lower in Dollar terms (10.77 percent lower in Rupee terms), compared to USD30.14 billion (Rs. 2,16,546.40 crore) in November 2018. Non-oil imports in April-November 2019-20 were USD233.78 billion (Rs. 16,42,589.31 crore) which was 7.33 per cent lower in Dollar terms (6.46 percent lower in Rupee terms), compared to USD252.27 billion (Rs. 17,56,041.60 crore) in April-November2018-19.
Non-Oil and Non-Gold imports wereUSD24.10billion in November 2019, recording a negative growth of (-)11.96per cent, as compared to Non-Oil and Non-Gold importsof USD 27.37billion in November 2018. Non-Oil and Non-Gold imports wereUSD213.19billion in April-November 2019-20, recording a negative growth of (-)7.35per cent, as compared to Non-Oil and Non-Gold importsUSD 230.12billion in April-November 2018-19.
II. TRADE IN SERVICES
EXPORTS (Receipts)
As per the latest press release by RBI dated 13thDecember 2019, exports in October2019 were USD 17.70 billion (Rs. 1,25,725.53 crore) registering a positive growth of 5.25 per cent in dollar terms, vis-à-vis October2018. The estimated value of services export for November 2019* is USD 17.26 billion.
IMPORTS (Payments)
As per the latest press release by RBI dated 13th December 2019, imports in October 2019 were USD 10.86 billion (Rs. 77,177.20 crore) registering a positive growth of 7.58 per cent in dollar terms, vis-à-vis October 2018. The estimated value of service Import for November 2019* is USD 10.28 billion.
III.TRADE BALANCE
MERCHANDISE: The trade deficit for November 2019 was estimated at USD12.12 billion as against the deficit of USD17.58 billion inNovember 2018.
SERVICES: As per RBI’s Press Release dated 13th December 2019, the trade balance in Services (i.e. Net Services export) for October, 2019 is estimated at USD6.83 billion.
OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-November 2019-20* is estimated at USD54.06 billion as compared to USD82.47 billion in April-November 2018-19.
*Note: The latest data for services sector released by RBI is for October 2019. The data for November 2019 is an estimation, which will be revised based on RBI’s subsequent release.
MERCHANDISE TRADE
SERVICES TRADE
*Note: The latest data for services sector released by RBI is for October 2019. The data for November 2019 is an estimation, which will be revised based on RBI’s subsequent release.
***
*Link for Quick Estimates
Leave a Reply
You must be logged in to post a comment.