India at a Glance
  Advantage India
  Economy
  Investment
  Trade
  States & UTs
  Industry & Services
  Doing Business
  Studies & Surveys
  Visitor's Guide
 
 
TRADE

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

  • provide general market information as well as specific information on products and companies and statistics
  • facilitate contacts and meetings with importers, exporters, trade and industry associations and government authorities
  • guidance about business practices and strategies
  • business libraries of the missions have catalogues and directories
  • some missions have business centres, which are available for meetings and use by visiting businessmen and delegations
  • some missions have published business guides and market surveys for specific products.
  • 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.
  • facilitate contacts with Indian Government,business and Chambers of Commerce and industry
  • provide list of exporters, business directories and statistics

India's Foreign Trade

Exports

  • Exports during February, 2013 were valued at US$ 26259.36 million which was 4.23 per cent higher in Dollar terms than the level of US$ 25194.42 million during February, 2012. Cumulative value of exports for the period April-February 2012 -13 was US$ 265946.37 million as against US$ 277124.56 million registering a negative growth of 4.03 per cent in Dollar terms over the same period last year.


  • According to the data available from Directorate General of Commercial Intelligence and Statistics (DGCI&S),commodity-wise exports data upto June 2012 (Q1) show that the share of petroleum products in total merchandise exports declined significantly from 20.1 per cent in Q1 of 2011-12 to 16.6 per cent in Q1 of 2012-13. In contrast, the respective share of manufacturing goods and primary products increased during the period.Within exports of manufacturing sector, the share of gems and jewellery and chemical and related products increased while that of engineering goods and textile and textile products declined marginally.

     

  • Further data from DGCI&S sector-wise analysis shows that growth in exports of manufacturing sector has been significantly affected during Q1 of 2012-13 due to subdued global demand. However, exports of primary products showed a sharp rise in Q1 of 2012-13. Within manufacturing sector, growth in exports of engineering goods, textile products, gems & jewellery and leather & manufactures and chemicals & related products was either lower or negative as compared with the corresponding period as demand conditions in key markets like the US and Europe continued to remain sluggish. Within engineering sector, growth in exports of transport equipment, iron & steel and electronic goods was negative in Q1 while that of machinery and instruments and manufacture of metals showed deceleration.

 

  • Export of petroleum products declined by 20.9 per cent during Q1 of 2012-13 as against an increase of 77.3 per cent in the corresponding period of 2011-12. Decline in export of petroleum products was on account of decline in both price as well as quantum. In particular, lower quantum of exports was evident in case of motor spirit/petrol, high speed diesel and aviation turbine fuel. Within primary products, exports of iron ores continued to show decline while that of agricultural products, viz., wheat, sugar and raw cotton, showed a sharp rise. Decline in exports of iron ore was due to slowdown in China and fall in global prices. An export duty of 30 per cent imposed by the government may also have impacted exports of iron ore in the international market.Netherlands, Italy and Belgium turned negative during Q1 while the same to France showed a marginal increase

  • During Q1 of 2012-13, the share of European Union in India’s exports declined significantly as compared to Q1 of 2011-12.In contrast, the share of US and OPEC countries in India’s exports rose sharply during Q1. Among the developing countries, share of exports to African and SAARC countries improved while the same of Latin American countries and some East Asian economies, viz., Singapore, Hong Kong, South Korea and Malaysia declined.

 

  • Country-wise pattern of exports in Q1 shows that the USA became the biggest destination for India’s exports with a share of 14.4 per cent, replacing UAE (13.4 per cent), followed by China (5.1 per cent), Singapore (4.5 per cent each) and Hong Kong (4.2 per cent). These five countries together accounted for around 41.6 per cent of India’s total exports during Q1 of 2012-13. Refl ecting the uncertainties prevailing in Europe, growth in India’s exports to Germany,Netherlands, Italy and Belgium turned negative during Q1 while the same to France showed a marginal increase.

Imports

  • Imports during February, 2013 were valued at US$ 41181.65 million representing a growth of 2.65 per cent in Dollar terms over the level of imports valued at US$ 40118.54 million in February, 2012. Cumulative value of imports for the period April-February, 2012-13 was US$ 448036.78 million as against US$ 446938.82 million registering a growth of 0.25 per cent in Dollar terms over the same period last year.


  • Oil imports during February, 2013 were valued at US $ 15148.3 million which was 15.45 per cent higher than oil imports valued at US $ 13121.0 million in the corresponding period last year. Oil imports during April-February, 2012-13 were valued at US $ 155568.4 million which was 11.92 per cent higher than the oil imports of US $ 138995.2 million in the corresponding period last year.

 

  • Non-oil imports during February, 2013 were estimated at US$ 26033.4 million which was 3.57 per cent lower than non-oil imports of US$ 26997.5 million in February, 2012. Non-oil imports during April - February, 2012-13 were valued at US$ 292468.4 million which was 5.03 per cent lower than the level of such imports valued at US$ 307943.6 million in April -February, 2011-12.

  • As per the available data from Directorate General of Commercial Intelligence and Statistics (DGCI&S)on commodity-wise imports for Q1 of 2012-13, petroleum and petroleum products continued to be a major item of India’s imports, followed by capital goods and gold & silver. Petroleum, petroleum products and related material, accounting for nearly 34.2 per cent of India’s total merchandise imports, declined by 0.1 per cent during Q1 as compared with an increase of 52.5 per cent during Q1 of 2011-12. Import of gold & silver recorded a sharp fall refl ecting the impact of increase in customs duty and fall in consumer and investment demand.

     

  • Notwithstanding an increase in international gold prices by 6.2 per cent in Q1 of 2012-13 , gold imports declined in value terms (47.6 per cent) reflecting the impact coming through quantum factor. However, non-oil imports during Q1 of 2012-13 at US$ 75.7 billion witnessed a decline of 9.1 per cent as against an increase of 29.7 per cent during Q1 of 2011-12. Decline in non-oil imports was mainly on account of signifi cant decline in imports of export related items, viz., pearl, precious semi-precious stones and capital goods. Major categories of capital goods, viz., machine tools, machinery, electrical machinery, electronic goods recorded a negative growth in Q1 of 2012-13.

     

  • During Q1 of 2012-13, while the share of European Union in India’s total imports declined to 11.2 per cent as compared to 12.3 per cent during Q1 of 2011-12, the same of OPEC group of countries and Latin American countries increased significantly.Country-wise, China continued to be the largest source of imports with a share of 11.9 per cent in total imports, followed by the UAE, Saudi Arabia, the USA and Switzerland. These five countries together constituted around 37.4 per cent of India’s imports. Among the OPEC countries, the share of Indonesia, Kuwait and Saudi Arabia in India’s imports increased significantly. In contrast, the share of Iran and Iraq in India’s total imports declined from 3.0 per cent and 4.5 respectively in Q1 of 2011-12 to 2.4 per cent and 4.0 per cent in Q1 of 2012-13.

Trade Balance

The trade deficit for April - February, 2012-13 was estimated at US$ 182090.41 million which was higher than the deficit of US$ 169814.26 million during April -February, 2011-12.

(Figures in US$ million)
DEPARTMENT OF COMMERCE
ECONOMIC DIVISION
EXPORTS & IMPORTS
   
February
April-February
EXPORTS (including re-exports)
2011-2012
25194.42
277124.56
2012-2013
26259.36
265946.37
% Growth 2012-2013/ 2011-2012
4.23
-4.03
IMPORTS
2011-2012
40118.54
446938.82
2012-2013
41181.65
448036.78
% Growth 2012-2013/ 2011-2012
2.65
0.25
TRADE BALANCE
2011-2012
-14924.12
-169814.26
2012-2013
-14922.29
-182090.41

Source:Ministry of Commerce and Industry,Government of India




< Prev Page
 
 
Home
About India In Business
Business Events
Business News
Contact Us
   
   
  India at a Glance
  Advantage India
  Economy
  Investment
  Trade
   
   
  States & UTs
  Industry & Services
  Doing Business
  Studies & Surveys
  Visitor Guide
     
     
Best viewed in 1024 x 800 pxl Disclaimer