India’s overall exports (Merchandise and Services combined) in April-January2019-20* are estimated to be USD 446.46 billion, exhibiting a positive growth of 1.94 per cent over the same period last year. Overall imports in April-January 2019-20* are estimated to be USD 510.62 billion, exhibiting a negative growth of (-)4.69 per cent over the same period last year.

 

 

 

 

 

 

 

 

 

 

 

*Note: The latest data for services sector released by RBI is for December 2019. The data for January2020 is an estimation, which will be revised based on RBI’s subsequent release.

 

I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports inJanuary2020 were USD25.97 billion, as compared to USD26.41 billion in January 2019, exhibiting a negative growth of (-) 1.66 per cent. In Rupee terms, exports were Rs. 1,85,204 crore in January2020, as compared to Rs. 1,86,801.37 crore in January2019, registering a negative growth of (-) 0.86 per cent.

In January2020, major commodity groups of export showing positivegrowth over the corresponding month of last year are

Cumulative value of exports for the period April-January 2019-20 was USD265.26 billion (Rs.18,69,762.61 crore) as against USD270.49 billion (Rs.18,89,062.68 crore) during the period April-January 2018-19, registering a negative growth of (-) 1.93per cent in Dollar terms (negative growth of (-) 1.02 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery exports in January 2020 were USD19.79 billion, as compared to USD19.94 billion in January2019, exhibiting a negative growth of (-) 0.78 per cent. Non-petroleum and Non Gems and Jewellery exports in April-January 2019-20 were USD197.60billion, as compared to USD197.59 billion for the corresponding period in 2018-19.

IMPORTS

Imports in January2020 were USD41.14 billion (Rs.2,93,418.56 crore), which was 0.75 per cent lower in Dollar terms and 0.07 per cent higher in Rupee terms over imports of USD41.46 billion (Rs 2,93,225.37 crore) in January2019. Cumulative value of imports for the period April-January 2019-20 was USD398.53 billion (Rs.28,08,202.38 crore), as against USD433.77 billion (Rs.30,30,317.38 crore) during the period April-January 2018-19, registering a negative growth of    (-)8.12per cent in Dollar terms (negative growth of (-)7.33 per cent in Rupee terms).

Major commodity groups of import showing negative growth in January2020 over the corresponding month of last year are:

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports inJanuary2020 were USD12.97 billion (Rs. 92,502.86 crore), which was 15.27 percenthigher in Dollar terms (16.21 percent higher in Rupee terms), compared to USD11.25 billion (Rs. 79,596.67 crore) in January2019. Oil imports in April-January 2019-20 were USD108.66 billion (Rs. 7,65,950.42 crore) which was 9.24 per cent lower in Dollar terms (8.53 percent lower in Rupee terms) compared to USD119.72 billion (Rs. 8,37,369.22 crore), over the sameperiod last year.

In this connection it is mentioned that the global Brent price ($/bbl) has increased by 7.31% in January2020 vis-à-vis January2019 as per data available from World Bank.

Non-oil imports inJanuary2020 were estimated at USD28.17 billion (Rs. 2,00,915.70 crore) which was 6.72 per cent lower in Dollar terms (5.95 percent lower in Rupee terms), compared to USD30.20 billion (Rs. 2,13,628.70 crore) in January2019. Non-oil imports in April-January 2019-20 were USD289.87 billion (Rs. 20,42,251.96 crore) which was 7.70 per cent lower in Dollar terms (6.87percent lower in Rupee terms), compared to USD314.04 billion (Rs. 21,92,948.16crore) in April-January2018-19.

Non-Oil and Non-Gold imports wereUSD26.59 billion in January2020, recording a negative growth of (-)4.66 per cent, as compared to Non-Oil and Non-Gold importsof USD 27.89 billion in January2019. Non-Oil and Non-Gold imports wereUSD265.23 billion in April-January 2019-20, recording a negative growth of (-)7.59 per cent, as compared to Non-Oil and Non-Gold importsUSD 287.00 billion in April-January 2018-19.

 

II. TRADE IN SERVICES

EXPORTS (Receipts)

As per the latest press release by RBI dated 14^thFebruary 2020, exports in December2019 were USD 20.00 billion (Rs. 1, 42,413.68 crore) registering a positive growth of 11.59 per cent in dollar terms, vis-à-vis December2018. The estimated value of services export for January2020* is USD 20.92 billion.

IMPORTS (Payments)

As per the latest press release by RBI dated 14^th February 2020, imports in December 2019 were USD 12.56 billion (Rs. 89,382.31 crore) registering a positive growth of 10.36 per cent in dollar terms, vis-à-vis December 2018. The estimated value of service Import for January2020* is USD 13.10 billion.

III.TRADE BALANCE

MERCHANDISE: The trade deficit for January2020 was estimated at USD15.17billion as against the deficit of USD15.05billion inJanuary2019.

SERVICES: As per RBI’s Press Release dated 14^th February 2020, the trade balance in Services (i.e. Net Services export) for December, 2019 is estimated at USD7.45 billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-January 2019-20* is estimated at USD64.16billion as compared to USD97.79billion in April-January 2018-19.

*Note: The latest data for services sector released by RBI is for December 2019. The data for January2020 is an estimation, which will be revised based on RBI’s subsequent release.  

 

MERCHANDISE TRADE

 

EXPORTS & IMPORTS  : (US $ Billion)
(PROVISIONAL)
	JANUARY	APRIL-JANUARY
EXPORTS(including re-exports)
2018-19	26.41	270.49
2019-20	25.97	265.26
%Growth 2019-20/ 2018-19	-1.66	-1.93
IMPORTS
2018-19	41.46	433.77
2019-20	41.14	398.53
%Growth 2019-20/ 2018-19	-0.75	-8.12
TRADE BALANCE
2018-19	-15.05	-163.27
2019-20	-15.17	-133.27
EXPORTS &IMPORTS: (Rs. Crore)
(PROVISIONAL)
	JANUARY	APRIL-JANUARY
EXPORTS(including re-exports)
2018-19	1,86,801.37	18,89,062.68
2019-20	1,85,204.00	18,69,762.61
%Growth 2019-20/ 2018-19	-0.86	-1.02
IMPORTS
2018-19	2,93,225.37	30,30,317.38
2019-20	2,93,418.56	28,08,202.38
%Growth 2019-20/ 2018-19	0.07	-7.33
TRADE BALANCE
2018-19	-1,06,424.00	-11,41,254.70
2019-20	-1,08,214.56	-9,38,439.77

 

 

SERVICES TRADE

 

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)
(PROVISIONAL)	December 2019	April-December 2019-20
EXPORTS (Receipts)	20.00	160.27
IMPORTS (Payments)	12.56	98.99
TRADE BALANCE	7.45	61.28
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)	December 2019	April-December 2019-20
EXPORTS (Receipts)	1,42,413.68	11,28,639.25
IMPORTS (Payments)	89,382.31	6,97,158.95
TRADE BALANCE	53,031.37	4,31,480.30
Source: RBI Press Release dated 14thFebruary 2020

 

*Note: The latest data for services sector released by RBI is for December 2019. The data for January2020 is an estimation, which will be revised based on RBI’s subsequent release.

 

* Link for Quick Estimates

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