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

July 15, 2019: The data on foreign trade of India for the month of June-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-June 2019-20* are estimated to be USD 137.26 billion, exhibiting a positive growth of 3.14 per cent over the same period last year.

Overall imports in April-June 2019-20* are estimated to be USD 164.50 billion, exhibiting a positive growth of 3.57 per cent over the same period last year.

Overall Trade = Merchandise+Services April-June 2019-20* (Estimated)
*Note: The latest data for services sector released by RBI is for May 2019. The data for June 2019 is an estimation, which will be revised based on RBI’s subsequent release.

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I. MERCHANDISE TRADE

EXPORTS (including re-exports)

Exports in June 2019 were USD 25.01 billion, as compared to USD 27.70 billion in June 2018, exhibiting a negative growth of 9.71 per cent. In Rupee terms, exports were Rs. 1,73,682.55 crore in June 2019, as compared to Rs. 1,87,800.20 crore in June 2018, registering a negative growth of 7.52 per cent.

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

Major commodity groups of export showing positive growth in June 2019

Cumulative value of exports for the period April-June 2019-20 was USD 81.08 billion (Rs. 5,63,984.51 crore) as against USD 82.47 billion (Rs. 5,52,781.61 crore) during the period April-June 2018-19, registering a negative growth of 1.69 per cent in Dollar terms (positive growth of 2.03 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery exports in June 2019 were USD 19.15 billion, as compared to USD 20.13 billion in June 2018, exhibiting a negative growth of 4.86 per cent. Non-petroleum and Non Gems and Jewellery exports in April-June 2019-20 were USD 60.10 billion, as compared to USD 59.86 billion for the corresponding period in 2018-19, an increase of 0.40 per cent.


IMPORTS

Imports in June 2019 were USD 40.29 billion (Rs. 2,79,771.07 crore), which was 9.06 per cent lower in Dollar terms and 6.85 per cent lower in Rupee terms over imports of USD 44.30 billion (Rs. 3,00,351.83 crore) in June 2018. Cumulative value of imports for the period April-June 2019-20 was USD 127.04 billion (Rs. 8,83,652.93 crore), as against USD 127.41 billion (Rs. 8,54,096.98 crore) during the period April-June 2018-19, registering a negative growth of 0.29 per cent in Dollar terms (positive growth of 3.46 per cent in Rupee terms).

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

Major commodity groups of import showing negative growth in June 2019


CRUDE OIL AND NON-OIL IMPORTS:

Oil imports in June 2019 were USD 11.03 billion (Rs. 76,586.73 crore), which was 13.33 percent lower in Dollar terms (11.23 percent lower in Rupee terms), compared to USD 12.73 billion (Rs. 86,270.79 crore) in June 2018. Oil imports in April-June 2019-20 were USD 34.85 billion (Rs. 2,42,398.55 crore) which was 0.62 per cent higher in Dollar terms (4.36 percent higher in Rupee terms) compared to USD 34.64 billion (Rs. 2,32,269.14 crore), over the same period last year.

In this connection it is mentioned that the global Brent price ($/bbl) has decreased by 15.81% in June 2019 vis-à-vis June 2018 as per data available from World Bank (Pink Sheet).

Non-oil imports in June 2019 were estimated at USD 29.26 billion (Rs. 2,03,184.34 crore) which was 7.34 per cent lower in Dollar terms (5.09 percent lower in Rupee terms), compared to USD 31.58 billion (Rs. 2,14,081.04 crore) in June 2018. Non-oil imports in April-June 2019-20 were USD 92.19 billion (Rs. 6,41,254.38 crore) which was 0.62 per cent lower in Dollar terms (3.12 percent higher in Rupee terms), compared to USD 92.77 billion (Rs. 6,21,827.84 crore) in April-June 2018-19.

Non-Oil and Non-Gold imports were USD 26.57 billion in June 2019, recording a negative growth of 9.00 per cent, as compared to Non-Oil and Non-Gold imports of USD 29.19 billion in June 2018. Non-Oil and Non-Gold imports were USD 80.75 billion in April-June 2019-20, recording a negative growth of 4.25 per cent, as compared to Non-Oil and Non-Gold imports USD 84.33 billion in April-June 2018-19.

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II. TRADE IN SERVICES

EXPORTS (Receipts)

As per the latest press release by RBI dated 15th July 2019, exports in May 2019 were USD 18.68 billion (Rs. 1,30,329.17 crore) registering a positive growth of 15.49 per cent in dollar terms, vis-à-vis May 2018. The estimated value of services export for June 2019* is USD 19.44 billion.

IMPORTS (Payments)

As per the latest press release by RBI dated 15th July 2019, imports in May 2019 were USD 12.49 billion (Rs. 87,160.56 crore) registering a positive growth of 22.37 per cent in dollar terms, vis-à-vis May 2018. The estimated value of service Import for June 2019* is USD 13.56 billion.


III.TRADE BALANCE

MERCHANDISE:
The trade deficit for June 2019 was estimated at USD 15.28 billion as against the deficit of USD 16.60 billion in June 2018.

SERVICES:
As per RBI’s Press Release dated 15th July 2019, the trade balance in Services (i.e. Net Services export) for May, 2019 is estimated at USD 6.19 billion.

OVERALL TRADE BALANCE:
Taking merchandise and services together, overall trade deficit for April-June 2019-20* is estimated at USD 27.24 billion as compared to USD 25.75 billion in April-June 2018-19.

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

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MERCHANDISE TRADE

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

MERCHANDISE TRADE EXPORTS & IMPORTS : (US $ Billion) (PROVISIONAL) June 2019

EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)

MERCHANDISE TRADE EXPORTS & IMPORTS : (Rs. Crore) (PROVISIONAL) June 2019

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SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

(PROVISIONAL)

May 2019

April-May

2019-20

EXPORTS (Receipts)

18.68

36.74

IMPORTS (Payments)

12.49

23.89

TRADE BALANCE

6.19

12.85


EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

(PROVISIONAL)

May 2019

April-May

2019-20

EXPORTS (Receipts)

1,30,329.17

2,55,728.94

IMPORTS (Payments)

87,160.56

1,66,321.68

TRADE BALANCE

43,168.62

89,407.27


Source: RBI Press Release dated 15th July 2019


Note: Services data pertains to May 2019 as it is the latest data available as per RBI’s Press Release dated 15th July 2019. This data is provisional and subject to revision by RBI.

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