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India’s Foreign Trade: May 2019 (Data/Stats on Exports & Imports)

June 14, 2019: The data on foreign trade of India for the month of May-2019 as released by the Ministry of Commerce & Industry, Department of Commerce, Economic Division, is presented hereunder.

India’s overall exports (Merchandise and Services combined) in April-May 2019-20* are estimated to be USD 92.33 billion, exhibiting a positive growth of 4.32 per cent over the same period last year.

Overall imports in April-May 2019-20* are estimated to be USD 109.75 billion, exhibiting a positive growth of 5.30 per cent over the same period last year.


Overall Trade = Merchandise+Services April May 2019-20

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


I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports in May 2019 were USD 29.99 billion, as compared to USD 28.86 billion in May 2018, exhibiting a positive growth of 3.93 per cent. In Rupee terms, exports were Rs. 2,09,280.62 crore in May 2019, as compared to Rs. 1,94,928.45 crore in May 2018, registering a positive growth of 7.36 per cent.

In May 2019, major commodity groups of export showing positive growth over the corresponding month of last year are

May 2019, major commodity groups of export showing positive growth

Cumulative value of exports for the period April-May 2019-20 was USD 56.07 billion (Rs. 3,90,301.96 crore) as against USD 54.77 billion (Rs. 3,64,981.41 crore) during the period April-May 2018-19, registering a positive growth of 2.37 per cent in Dollar terms (6.94 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery exports in May 2019 were USD 21.42 billion, as compared to USD 19.94 billion in May 2018, exhibiting a positive growth of 7.42 per cent. Non-petroleum and Non Gems and Jewellery exports in April-May 2019-20 were USD 40.96 billion, as compared to USD 39.74 billion for the corresponding period in 2018-19, an increase of 3.07 per cent.

IMPORTS

Imports in May 2019 were USD 45.35 billion (Rs. 3,16,448.93 crore), which was 4.31 per cent higher in Dollar terms and 7.76 per cent higher in Rupee terms over imports of USD 43.48 billion (Rs. 2,93,660.48 crore) in May 2018. Cumulative value of imports for the period April-May 2019-20 was USD 86.75 billion (Rs. 6,03,881.86 crore), as against USD 83.11 billion (Rs. 5,53,745.15 crore) during the period April-May 2018-19, registering a positive growth of 4.39 per cent in Dollar terms (9.05 per cent in Rupee terms).

Major commodity groups of import showing negative growth in May 2019 over the corresponding month of last year are:

Major commodity groups of import showing negative growth in May 2019

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports in May 2019 were USD 12.44 billion (Rs. 86,822.36 crore), which was 8.23 percent higher in Dollar terms (11.81 percent higher in Rupee terms), compared to USD 11.50 billion (Rs. 77,654.11 crore) in May 2018. Oil imports in April-May 2019-20 were USD 23.82 billion (Rs. 1,65,811.82 crore) which was 8.72 per cent higher in Dollar terms (13.57 percent higher in Rupee terms) compared to USD 21.91 billion (Rs. 1,45,998.35 crore), over the same period last year.

In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 7.98% in May 2019 vis-à-vis May 2018 as per data available from World Bank (Pink Sheet).

Non-oil imports in May 2019 were estimated at USD 32.91 billion (Rs. 2,29,626.57 crore) which was 2.90 per cent in Dollar terms (6.31 percent higher in Rupee terms), compared to USD 31.98 billion (Rs. 2,16,006.37 crore) in May 2018. Non-oil imports in April-May 2019- 20 were USD 62.93 billion (Rs. 4,38,070.04 crore) which was 2.84 per cent higher in Dollar terms (7.44 percent higher in Rupee terms), compared to USD 61.19 billion (Rs. 4,07,746.80 crore) in April-May 2018-19.

Non-Oil and Non-Gold imports were USD 28.13 billion in May 2019, recording a negative growth of 1.31 per cent, as compared to Non-Oil and Non-Gold imports of USD 28.50 billion in May 2018. Non-Oil and Non-Gold imports were USD 54.18 billion in April-May 2019-20, recording a negative growth of 1.73 per cent, as compared to Non-Oil and Non-Gold imports USD 55.14 billion in April-May 2018-19.


II. TRADE IN SERVICES

EXPORTS (Receipts)

As per the latest press release by RBI dated 14th June 2019, exports in April 2019 were USD 18.06 billion (Rs. 125,399.77 crore) registering a positive growth of 2.84 per cent in dollar terms, vis-à-vis April 2018. The estimated value of services export for May 2019* is USD 18.20 billion.

IMPORTS (Payments)

As per the latest press release by RBI dated 14th June 2019, imports in April 2019 were USD 11.40 billion (Rs. 79,161.12 crore) registering a positive growth of 4.46 per cent in dollar terms, vis-à-vis April 2018. The estimated value of service Import for May 2019 is USD 11.60 billion.


III. TRADE BALANCE

MERCHANDISE: The trade deficit for May 2019 was estimated at USD 15.36 billion as against the deficit of USD 14.62 billion in May 2018.

SERVICES: As per RBI’s Press Release dated 14th June 2019, the trade balance in Services (i.e. Net Services export) for April, 2019 is estimated at USD 6.66 billion.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-May 2019-20* is estimated at USD 17.42 billion as compared to USD 15.72 billion in April-May 2018-19.


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


MERCHANDISE TRADE

EXPORTS & IMPORTS : (US $ Billion)
(PROVISIONAL)
MERCHANDISE TRADE EXPORTS & IMPORTS : (US $ Billion) (PROVISIONAL)

EXPORTS & IMPORTS : (Rs. Crore)
(PROVISIONAL)
MERCHANDISE TRADE (Exports & Imports) (Rs. Crore) (Provisional)



SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion) 
SERVICES TRADE EXPORTS & IMPORTS (SERVICES) (US $ Billion) April 2019

EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
SERVICES TRADE EXPORTS & IMPORTS (SERVICES) (Rs. in Crores) April 2019
Source: RBI Press Release dated 14th June 2019



Note: Services data pertains April 2019 as it is the latest data available as per RBI’s Press Release dated 14th June 2019. This data is provisional and subject to revision by RBI.

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