Facts & Figures about India’s Trade Balance:
The trade deficit for April - March, 2012-13 was estimated at US $ 190.92 billion which was higher than the deficit of US $ 183.36 million during April -March, 2011-12.
Now let us have a look on India’s Foreign Trade Balance to get better idea.
Cumulative value of exports for the period April-March 2012 -13 was US $ 300.57 billion (Rs. 16.35 lakh crore) as against US $ 305.96 billion (Rs 14.66 lakh crore) registering a negative growth of approximately 1.7 per cent in Dollar terms and growth of 11.5 per cent in Rupee terms over the same period last year.
Cumulative value of imports for the period April-March, 2012-13 was US $ 491.48 billion (Rs. 26.73 lakh crore) as against US $ 489.32 billion (Rs. 23.45 lakh crore) registering a growth of 0.44 per cent in Dollar terms and growth of approximately 13.9 per cent in Rupee terms over the same period last year.
Now let us have a look on India’s Foreign Trade Balance to get better idea.
India’s Foreign Trade Balance (US $ Million)
|
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March
|
April -March
|
|
|
Exports (including Re-exports)
|
|
|
2011-12
|
28839.36
|
305963.92
|
|
2012-13
|
30849.65
|
300570.58
|
|
% Growth 2012-13/ 2011-2012
|
6.97
|
-1.76
|
|
|
Imports
|
|
|
2011-12
|
42380.68
|
489319.50
|
|
2012-13
|
41164.71
|
491487.22
|
|
% Growth 2012-13/ 2011-2012
|
-2.87
|
0.44
|
|
Trade
Balances
|
||
|
2011-12
|
-13541.32
|
-183355.58
|
|
2012-13
|
-10315.06
|
-190916.64
|
Source:
Ministry of Commerce, Government of India
Above-mentioned data clearly states that there is very minimal increase in trade balances as compared to previous year in terms of US $.
Oil imports during March, 2013 were valued at US $ 13.33 billion which was 16.56 per cent lower than oil imports valued at US $ 15.97 billion in the corresponding period last year.Import bill of petroleum crude & product have declined in international currency in March 2013 as compared to March 2012. Though, in terms of domestic currency, the import has been increased.
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| Photo: www.thehindubusinessline.com |
Similar is the case evident even for Non-oil imports also. Non-oil imports during April - March, 2012-13 were valued at US $ 322.23 billion which was 3.62 per cent lower than the level of such imports valued at US $ 334.35 billion in April - March, 2011-12. However in terms of Rupees there is significant increment in Non-oil imports.A depreciating rupee makes import of various things more expensive, which leads to an increase in the operating expense of the companies which depends on many such commodities, Thereby hitting the profit margin of all such companies.
