News Update

CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
June exports up but trade deficit in merchandise grows

By TIOL News Service

NEW DELHI, JULY 15, 2017: INDIA's exports in the month June has registered a growth rate of 4.4%. Although the trade balance in Services for May, 2017 was estimated to be USD 5815 mn but the trade deficit in merchandise for the month of June was estimated at USD 12959.86 million as against the deficit of USD 8116.24 million during June 2016.

During June 2017, Major commodity groups of export showing positive growth over the corresponding month of last year are Engineering Goods (14.78%), Petroleum Products (3.60%), Organic & Inorganic Chemicals (13.20%), Rice (27.29%) and Marine Products (24.27%).

Cumulative value of exports for the period April-June 2017-18 was USD 72212.33million (Rs 465472.04 crore) as against USD 65311.77 million (Rs 436960.98 crore) registering a positive growth of 10.57 per cent in Dollar terms and 6.52 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in June 2017 were valued at USD 17480.56 million against USD 16488.23 million in June 2016, an increase of 6.02 %. Non-petroleum and Non Gems and Jewellery exports during April -June 2017-18 were valued at USD 52713.79 million as compared to USD 48028.95 million for the corresponding period in 2016-17, an increase of 9.75%.

IMPORTS

Imports during June 2017 were valued at USD 36522.48 million (Rs 235361.85 crore) which was 19.01 per cent higher in Dollar terms and 13.96 per cent higher in Rupee terms over the level of imports valued at USD 30688.54 million (Rs. 206524.39 crore) in June, 2016. Cumulative value of imports for the period April-June 2017-18 was USD 112263.10 million (Rs. 723631.11crore) as against USD 84545.78 million (Rs. 565754.29 crore) registering a positive growth of 32.78 per cent in Dollar terms and 27.91per cent in Rupee terms over the same period last year.

Major commodity group of imports showing high growth in June 2017 over the corresponding month of last year are Petroleum, Crude & products (12.04%), Electronic goods (24.22%), Pearls, precious & Semi-precious stones (86.31%) , Machinery, electrical & non-electrical (7.02%) and Gold(102.99%).


POST YOUR COMMENTS
   

AR not Afar by SK Rahman

TIOL Tube Latest

Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Awards 2023




Shri M C Joshi, Former Chairman, CBDT




Address by Shri Buggana Rajendranath, Hon'ble Finance Minister of Andhra Pradesh at TIOL Awards 2023