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India Market

India’s Foreign Trade (1)

Exports
  • India's exports during June 2008 were valued at US $ 14664 million, which was 23.5 per cent higher than the level of US $ 11870 million during June 2007. In rupee terms, exports touched Rs.62790 crore, which was 29.7 per cent higher than the value of exports during June 2007. Cumulative value of exports for the period April- June, 2008 was US $ 42846 million (Rs.178480 crore) as against US $ 35033 million (Rs.144358 crore) registering a growth of 22.3 per cent in Dollar terms and 23.6 per cent in Rupee terms over the same period last year.
  • Commodity-wise data on India's merchandise exports available for 2007- 08 (April-February) showed acceleration in growth of primary products, while manufactured products maintained its growth momentum. Agriculture and allied products, engineering goods, gems and jewellery and petroleum products were the main contributors of export growth during April-February, 2007-08.
  • Exports of primary products during April-February, 2007-08 increased by 33.8 per cent as against 21.7 per cent a year ago. This was mainly due to high growth in the exports of agricultural and allied products, which sharply rose to 41.5 per cent from 24.3 per cent a year back. Within the agricultural and allied products group, rice, oil meal, sugar and molasses and cotton were the major items, which contributed to the higher growth in exports. Export of rice registered a sharp rise of 87.1 per cent. Saudi Arabia and the UAE were the principal markets for rice. Exports of marine products, cashew and coffee recorded decline.
  • Ores and minerals exhibited a higher growth of 19.9 per cent in April-February 2007-08 than 17.2 per cent during previous year, mainly due to acceleration in iron ore (26 per cent as against 7.6 per cent a year ago). China and Japan were the major markets for iron ore.
  • Exports of manufactured goods increased by 19.2 per cent during April- February 2007-08 as against 18.7 per cent a year ago. Within manufactured goods, gems and jewellery and textiles and textile products, leather and manufactures accelerated while engineering goods exhibited some moderation.
  • Engineering goods exports moderated to 22.7 per cent during April-February, 2007-08 from 39.5 per cent a year ago, mainly due to decline in exports of iron and steel and deceleration in machinery and instruments and electronic goods. Exports of metals and transport equipments showed accelerated growth. The US, the UAE and the UK were the principal markets for machinery and instruments.
  • Chemicals and related products maintained the same growth rate of 19.3 per cent recorded a year ago. With the exception of plastic and linoleum, exports of basic chemicals, pharmaceuticals, cosmetics, rubber, glass, paints, enamels, residual chemicals and allied products registered higher growth. Plastic and linoleum decelerated to 1.7 per cent from 16.9 per cent during April-February, 2006-07.
  • Textiles and textile products exports during April-February, 2007-08 posted a growth of 9.6 per cent, marginally higher than 7.9 per cent a year ago, mainly due to acceleration in the growth of readymade garments, man-made and woolen yarn, fabrics, made-ups, jute and jute manufactures, coir and coir manufactures. Readymade garments contributed almost 50 per cent of textiles and textile products exports. The US, the UK, Germany and the UAE were the major markets for readymade garments. Cotton yarn, woolen yarn, fabrics and made-ups were the other principal items of exports. According to the US Office of Textiles, the US imports of textile and apparel products from India in April 2008 increased by 3.3 per cent as compared with a decline of 4.6 per cent in April 2007.
  • Exports of gems and jewellery during April-February, 2007-08 showed sharp rise of 24.5 per cent, as against 2.8 per cent during the corresponding period of the previous year. Hong Kong, the UAE and Belgium were the major destinations for gems and jewellery. According to the Gem and Jewellery Export Promotion Council (GJEPC), exports of gems and jewellery during 2007-08 (April-March) increased by 22.3 per cent over the previous year.
  • Exports of petroleum products during April-February, 2007-08 moderated to 41.0 per cent from 60.4 per cent a year ago. The UAE, Singapore and the Netherlands were the principal markets for the exports of petroleum products.
  • Destination-wise, although the US remained as the principal export market, its share declined to 13.1 per cent during April-February, 2007-08 from 15.0 per cent a year ago. The other major destinations were the UAE (9.8 per cent), China (6.3 per cent), Singapore (4.5 per cent), the UK (4.2 per cent), Hong Kong (3.9 per cent), the Netherlands (3.2 percent) and Germany (3.2 per cent). During April-February, 2007-08, the shares of EU, OPEC, Eastern Europe and Asian and African developing countries in India's exports increased over the previous year, while the shares of North America, Asia and Oceania and Latin American developing countries declined. Exports growth to the EU, North America, Eastern Europe and Asian developing countries accelerated, while those to Asia and Oceania, OPEC, African developing countries and Latin American developing countries decelerated.
 
Imports
  • India's imports during June, 2008 were valued at US $ 24452 million registering a growth of 25.9 per cent over the level of imports valued at US $ 19424 million in June, 2007. In Rupee terms, imports increased by 32.2 per cent. Cumulative value of imports for the period April- June, 2008 was US $ 73275 million (Rs.305265 crore) as against US $ 56506 million (Rs.232855 crore) registering a growth of 29.7 per cent in Dollar terms and 31.1 per cent in Rupee terms over the same period last year.
  • Oil imports during June, 2008 were valued at US $ 9033 million which was 53.4 per cent higher than oil imports valued at US $ 5890 million in the corresponding period last year. Oil imports during April- June, 2008 were valued at US $ 25526 million which was 50.2 per cent higher than the oil imports of US$ 16996 million in the corresponding period last year.
  • Non-oil imports during June, 2008 were estimated at US $ 15420 million which was 13.9 per cent higher than non-oil imports of US $ 13534 million in June, 2007. Non-oil imports during April- June, 2008 were valued at US $ 47748 million which was 20.9 per cent higher than the level of such imports valued at US $ 39510 million in April- June, 2007.
 
Trade Balance
The trade deficit for April- June, 2008 was estimated at US $ 30429 million which was higher than the deficit at US $ 21473 million during April- June, 2007.
 
(US $ Million)
DEPARTMENT OF COMMERCE
ECONOMIC DIVISION
EXPORTS & IMPORTS : (PROVISIONAL)
 
MARCH
APRIL-MARCH
EXPORTS (including re-exports)
2006-2007
12862.40
126413.99
2007-2008
16282.72
155512.49
%Growth 2007-2008/ 2006-2007
26.59
23.02
IMPORTS
 
 
2006-2007
17136.46
185735.17
2007-2008
23174.94
235910.73
%Growth 2007-2008/ 2006-2007
35.24
29.63
TRADE BALANCE
2006-2007
-4274.07
-59321.18
2007-2008
-6892.22
-80398.24
*Figures for 2006-07 are the latest revised whereas figures for 2007-08 are provisional.
 
Direction of India's Foreign Trade – Exports
 
(US $ million)
Group/Country
April-February
Percentage Variation
2005-06
2006-07
2007-08 P
(3)/(2)
(4)/(3)
1
2
3
4
5
6
I.
O E C D Countries
41071.9
46649.5
55751.8
13.6
19.5
 
A. E U
20055.9
23068.9
29214.5
15.0
26.6
of which:
 
 
 
 
 
1. Belgium
2544.2
3111.5
3726.7
22.3
19.8
2. France
1892.7
1867.4
2305.2
-1.3
23.4
3. Germany
3168.1
3504.7
4558.8
10.6
30.1
4. Italy
2223.8
3238.1
3521.1
45.6
8.7
5. Netherland
2300.9
2362.5
4536.6
2.7
92.0
6. U K
4540.5
5049.2
6060.5
11.2
20.0
B. North America
16479.8
17975.7
19829.3
9.1
10.3
1. Canada
910.6
1005.6
1137.1
10.4
13.1
2. U S A
15569.2
16970.1
18692.2
9.0
10.1
C. Asia and Oceania
3077.0
3833.5
4343.3
24.6
13.3
of which:
 
 
 
 
   
1. Australia
743.9
818.2
1038.3
10.0
26.9
2. Japan
2201.0
2522.7
3169.3
14.6
25.6
D. Other O E C D Countries
1459.2
1771.3
2364.7
21.4
33.5
of which:
 
 
 
 
 
1. Switzerland
414.7
415.1
524.5
0.1
26.3
II.
O P E C
of which:
13471.3
18643.2
23558.0
38.4
26.4
 
1. Indonesia
1185.7
1866.6
1746.0
57.4
-6.5
2. Iran
1044.2
1333.5
1847.8
27.7
38.6
3. Iraq
129.5
189.1
227.2
46.1
20.1
4. Kuwait
464.4
558.2
589.8
20.2
5.7
5. Saudi Arabia
1600.3
2232.3
3077.6
39.5
37.9
6. U A E
7620.5
10856.4
14021.5
42.5
29.2
III.
Eastern Europe
of which:
1746.6
2235.1
2989.9
28.0
33.8
 
1. Romania
69.9
151.2
228.2
116.4
50.9
2. Russia
651.3
806.3
814.0
23.8
1.0
IV.
Developing Countries
of which:
34916.9
45546.8
60076.8
30.4
31.9
 
A. Asia
27068.4
33805.6
44218.7
24.9
30.8
a) S A A R C
4951.2
5837.5
7934.1
17.9
35.9
1. Afghanistan
126.2
162.5
219.8
28.7
35.3
2. Bangladesh
1509.5
1452.4
2158.3
-3.8
48.6
3. Bhutan
91.7
51.8
77.5
-
49.6
4. Maldives
62.5
61.6
79.9
-1.5
29.8
5. Nepal
789.6
841.7
1180.1
6.6
40.2
6. Pakistan
583.5
1224.8
1695.1
109.9
38.4
7. Sri Lanka
1788.3
2042.6
2523.4
14.2
23.5
b) Other Asian Developing Countries
Of which:
22117.2
27968.1
36284.6
26.5
29.7
1. People’s Rep of China
5781.9
7439.0
8956.5
28.7
20.4
2. Hong Kong
3959.5
4080.4
5571.8
3.1
36.6
3. South Korea
1523.4
2290.4
2590.0
50.3
13.1
4. Malaysia
1027.4
1183.8
2117.5
15.2
78.9
5. Singapore
4777.3
5487.7
6389.4
14.9
16.4
6. Thailand
958.3
1305.8
1611.9
36.3
23.4
B. Africa
Of which:
5011.8
7790.0
11193.9
55.4
43.7
1. Benin
87.9
138.3
227.2
57.4
64.3
2. Egypt Arab Republic
556.7
677.2
1206.8
21.6
78.2
3. Kenya
483.6
1184.1
1353.9
144.8
14.3
4. South Africa
1355.1
1969.5
2356.9
45.3
19.7
5. Sudan
268.9
364.5
338.9
35.6
-7.0
6. Tanzania
211.6
258.4
515.6
22.1
99.5
7. Zambia
59.7
97.6
122.7
63.4
25.7
C. Latin American Countries
2836.7
3951.2
4664.3
39.3
18.0
V.
Others
86.3
114.7
133.3
32.8
16.3
VI.
Unspecified
159.6
211.7
295.6
32.6
39.6
 
Total Exports
91452.5
113400.9
142805.4
24.0
25.9
P : Provisional.
Source : DGCI & S.

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