News Details

Exports increase again in May

 

I. MERCHANDISE TRADE EXPORTS (including re-exports)

 

Exports have been exhibiting positive growth for the last eight months. In continuation with growth indicated by exports since September 2016, exports during May 2017 have shown growth of 8.32 per cent in dollar terms valued at $ 24,014.62 million as compared to $ 22,170.62 million during May 2016. In rupee terms during May 2017, exports were valued at Rs 154,713.69 crore as compared to Rs 148,336.31 crore during May 2016, registering a positive growth of 4.30 per cent.

 

During May 2017, major commodity groups of export having a share of 72.09 per cent in total export basket which have shown positive growth over the corresponding month of last year are engineering goods (8.25 per cent), gems and jewellery (6 per cent), petroleum products (24.92 per cent), RMG of all textiles (8.06 per cent), organic and inorganic chemicals (15.34 per cent), rice (27.08 per cent), marine products (44.58 per cent) and electronic goods (8.57 per cent).

 

Cumulative value of exports for the period April-May 2017-18 was $48,649.71 million (Rs 313,627.48 crore) as against $42,739.47 million (Rs 285,056.42 crore), registering a positive growth of 13.83 per cent in dollar terms and 10.02 per cent in rupee terms over the same period last year.

 

Non-petroleum and non-gems and jewellery exports in May 2017 were valued at $ 17,514.36 million against $ 16,404.31 million in May 2016, an increase of 6.77 per cent. Non-petroleum and non-gems and jewellery exports during April-May 2017-18 were valued at $ 35,233.23 million as compared to $ 31,540.72 million for the corresponding period of 2016-17, an increase of 11.71 per cent.

 

IMPORTS

 

Imports during May 2017 were valued at $ 37,856.34 million (Rs 243,888.74 crore) which was 33.09 per cent higher in dollar terms and 28.16 per cent higher in rupee terms over the level of imports valued at $ 28,443.52 million (Rs 190,306.19 crore) in May 2016. Cumulative value of imports for the period April-May 2017-18 was $ 75,740.62 million (Rs 488,269.26 crore) as against $ 538,57.24 million (Rs 359,229.90 crore), registering a positive growth of 40.63 per cent in dollar terms and 35.92 per cent in rupee terms over the same period last year.

 

Major commodity group of imports showing high growth in May 2017 over the corresponding month of last year are petroleum, crude and products (29.54 per cent), gold (236.69 per cent), electronic goods (34.16 per cent), pearls, precious and semi-precious stones (37.61 per cent) and machinery, electrical and non-electrical (6.42 per cent).

 

CRUDE OIL AND NON-OIL IMPORTS

 

Oil imports during May 2017 were valued at $ 7,692.71 million which was 29.54 per cent higher than oil imports valued at $ 5,938.59 million in May 2016. Oil imports during April-May 2017-18 were valued at $ 15,051.98 million which was 29.82 per cent higher than the oil imports of $ 11,594.51 million in the corresponding period last year.

 

In this connection, it is mentioned that the global Brent prices ($/bbl) have increased by 7.94 per cent in May 2017 vis-à-vis May 2016 as per World Bank commodity price data.

 

Non-oil imports during May 2017 were estimated at $ 30,163.63 million which was 34.03 per cent higher than non-oil imports of $ 22,504.93 million in May 2016. Non-oil imports during April-May 2017-18 were valued at $ 60,688.64 million which was 43.60 per cent higher than the level of such imports valued at $ 42,262.73 million in April-May 2016-17, said a release.

 

Source : Exim News Service - New Delhi, June 18

 

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Currency Import Export
U.S.Dollar 64.88 64.01
U.K.Pound 84.82 83.04
Euro 74.78 73.51

As On 20th July, 2017

more forex rates...

Currency Import Export
U.S.Dollar 65.65 63.95
Sterling Pound 85.35 82.50
Euro 74.65 72.25

w.e.f. 07th July, 2017

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