For the first time after a gap of 18 months,
Exports in June 2016 have recorded a positive growth of 1.27%
During June, 2016 exports were valued at US$ 22572.30 million (Rs.151904.56 crore) which was 1.27 per cent higher in Dollar terms (6.72 per cent higher in Rupee terms) than the level of US$ 22289.43 million (Rs. 142341.88 crore) during June,2015. Cumulative value of exports for the period April-June 2016-17 was US$ 65311.77 million (Rs.436960.98 crore) as against US$ 66690.90 million (Rs.423315.24 crore) registering a negative growth of 2.07 per cent in Dollar terms and positive growth of 3.22 per cent in Rupee terms over the same period last year.
Non-petroleum exports have recorded a positive growth of 3.06% in June 2016, higher than the 1.01% growth achieved in May 2016. During June 2016 Non-petroleum exports were valued at US$ 19997.33 million against US$ 19403.89 million in June 2015, an increase of 3.06%. Non-petroleum exports during April to June 2016 are valued at US$ 58706.57million as compared to US$ 58622.45 million for the corresponding period in 2015, an increase of 0.14 %.
The growth in exports have fallen for USA (-7.44%), Japan (-2.23%), China (-1.79%) but European Union exhibited positive growth (4.33%) for April 2016 over the corresponding period of previous year as per latest WTO statistics.
Imports during June 2016 were valued at US$ 30688.54 million (Rs. 206524.39 crore) which was 7.33 per cent lower in Dollar terms and 2.35 per cent lower in Rupee terms over the level of imports valued at US$ 33116.55 million (Rs. 211484.61 crore) in June,2015. Cumulative value of imports for the period April-June 2016-17 was US$ 84545.78 million (Rs. 565754.29 crore) as against US$ 98916.56 million (Rs. 627830.30 crore) registering a negative growth of 14.53 per cent in Dollar terms and 9.89 per cent in Rupee terms over the same period last year.
The trade deficit for April-June, 2016-17 was estimated at US$ 19234.01million which was lower than the deficit of US$ 32225.66 million during April-June, 2015-16.
As per RBI’s Press Release dated 15th July 2016, the trade balance in Services (i.e. net export of Services) for May, 2016 was estimated at US$ 5538 million. The net export of services for April- May, 2016-17 was estimated at US$ 11263 million which is higher than net export of services of US$ 11244 million during April- May, 2015-16.
Overall Trade Balance:
Overall the trade balance has improved. Taking merchandise and services together, overall trade deficit for April- June 2016-17 is estimated at US$ 7971.01 million which is 62.01 percent lower in Dollar terms than the level of US$ 20981.66 million during April-June 2015-16.