FOREIGN TRADE TRENDS
Trade promotion by Embassies
The Indian embassies attach importance to trade promotion work as part of the focus on Economic Diplomacy.
Indian and foreign businesses are invited to contact the Indian embassies for information and support.
The commercial officers of the embassies would be pleased to respond to enquiries and meet with businesspersons and delegations.
The embassies provide the following services and support to Indian business
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provide general market information as well as specific information on products and companies and statistics
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facilitate contacts and meetings with importers, exporters, trade and industry associations and government authorities
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guidance about business practices and strategies
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business libraries of the missions have catalogues and directories
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some missions have business centres, which are available for meetings and use by visiting businessmen and delegations
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some missions have published business guides and market surveys for specific products.
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some missions can help in hotel bookings, engagement of interpreters and such other requirements.
The embassies offer the following services to foreign business -
provide information on India and the opportunities for investment and business with India.
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facilitate contacts with Indian Government,business and Chambers of Commerce and industry
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provide list of exporters, business directories and statistics
| India's Foreign Trade
Exports
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Exports during January, 2012 were valued at US$ 25.35 billion which was 10.10 per cent higher in Dollar terms than the level of US$ 23.02 billion during January, 2011.Cumulative value of exports for the period April-January 2011-12 was US$ 242.79 billion as against US$ 196.63 billion registering a growth of 23.47 per cent in Dollar terms over the same period last year.
- As per the commodity-wise exports data available for 2011-12 (April-September), manufacturing sector was the major contributor with a share of 64.9 per cent in total exports while petroleum products and primary products accounted for 20.5 per cent and 12.6 per cent,respectively.Within manufacturing sector, exports of engineering goods continued to be a major contributor. Export of engineering goods remained robust during April-June 2011 on the back of demand from the new markets like Latin America and Africa.On the cumulative basis, growth in engineering exports was higher at 41.2 per cent during April-September 2011 as compared with 38.8 per cent during April-September 2010.Within engineering sector, exports of categories, viz., manufactures of metals, iron & steel and transport equipment recorded lower growth during April-September 2011 over April- September 2010.
- Within manufacturing, other commodities groups, viz., leather & manufactures, chemicals & related products and textile & textile products witnessed higher growth during April-September 2011 as against the corresponding period of 2010-11. Exports of petroleum products also grew by 71.2 per cent during April- September 2011 as against 64.1 per cent in corresponding period of 2010-11.
- Country-wise, exports during 2011-12 (April- September) indicate that the UAE continued to remain the biggest destination for Indian goods with a share of 11.9 per cent, followed by the US (11.3 per cent), Singapore (6.1 per cent), China (5.2 per cent) and Hong Kong (4.5 per cent). These five countries together accounted for around 39 per cent of India’s total exports during April-September 2011. In spite of uncertainties prevailing in Europe, India’s exports to Germany, U.K, Netherlands, Italy and Belgium grew significantly during April-September 2011.
Imports -
Imports during January, 2012 were valued at US$ 40.11 billion representing a growth of 20.25 per cent in Dollar terms over the level of imports valued at US$ 33.35 billion in January, 2011. Cumulative value of imports for the period April-January, 2011-12 was US$ 391.46 billion as against US$ 302.53 billion registering a growth of 29.40 per cent in Dollar terms over the same period last year.
- Oil imports during January, 2012 were valued at US$ 12.32 billion which was 26.78 per cent higher than oil imports valued at US$ 9.72 billion in the corresponding period last year. Oil imports during April-January, 2011-12 were valued at US$ 117.91 billion which was 38.83 per cent higher than the oil imports of US$ 84.93 billion in the corresponding period last year.
- Non-oil imports during January, 2012 were estimated at US$ 27.78 billion which was 17.56 per cent higher than non-oil imports of US$ 23.63 billion in January, 2011. Non-oil imports during April-January, 2011-12 were valued at US$ 273.54 million which was 25.71 per cent higher than the level of such imports valued at US$ 217.59 billion in April - January, 2010-11.
- As per the latest available data on commodity-wise imports released by Directorate General of Commercial Intelligence and Statistics (DGCI&S) During 2011-12 (April-December), imports at US$ 350.9 billion registered a growth of 30.4 per cent as against 29.8 per cent a year ago. Import growth was primarily led by a spurt in POL, gold & silver and machinery. During 2011-12 (April-December), the POL imports at US$ 105.6 billion showed a higher growth of 40.4 per cent (22.0 per cent a year ago), refl ecting increase in international crude oil prices. The average price of Indian basket of crude oil during 2011-12 (April- December) stood at US$ 110.1 per barrel which was 38.6 per cent higher than US$ 79.4 per barrel during the same period in 2010-11.
- As per the latest available data on commodity-wise imports for 2011-12 (April-September), petroleum and petroleum products continued to be the major item of India’s imports during April-September 2011, followed by capital goods and gold & silver. Increase in POL imports was largely on account of rise in international crude oil prices. According to DGCI&S data, the quantum of POL imports declined by 18.9 per cent during April-September 2011 as against an increase of 32.7 per cent during the corresponding period of 2010-11. Import of gold & silver continued to remain higher during April-September 2011 as compared to corresponding period of 2010-11. Higher growth in imports of gold in value terms (72.8 per cent) than that in international prices (31.0 per cent) reflects that price as well quantum factors led to surge in imports of gold during this period.
- Non-oil imports during 2011-12 (April-September) at US$ 162.7 billion witnessed a growth of 28.6 per cent as against 39.6 per cent during the corresponding period of previous year.
Trade Balance
The trade deficit for April-January, 2011-12 was estimated at US$ 148.67 billion which was higher than the deficit of US$ 105.89 billion during April-January, 2010-11.
(Figures in US$ billion) |
DEPARTMENT OF COMMERCE
ECONOMIC DIVISION | | |
January | April-January | |
EXPORTS (including re-exports) | 2010-2011 | 23.02 |
196.63 | 2011-2012 | 25.35 |
242.79 | % Growth 2011-2012/ 2010-2011 |
6.71 | 25.84 | |
IMPORTS | 2010-2011 | 33.35
| 302.53 | 2011-2012 |
40.11 |
391.46 | % Growth 2011-2012/ 2010-2011 |
19.81 | 30.37 | |
TRADE BALANCE | 2010-2011 |
-10.33 | -105.89 | |
2011-2012 | -14.76 |
-148.67 | |
