Sunday, July 30, 2017

India's engineering exports to China rise 123 per cent in June quarter

NEW DELHI: India's exports of engineering goods to China saw a whopping 123 per cent growth at USD 629 million during April-June this fiscal, driven by an upsurge in shipments of non-ferrous metals, according to trade body EEPC India.

The country's shipments to China stood at USD 282 million in the April-June quarter of the previous fiscal.

The rise assumes significance as India has a massive trade deficit with China, which mounted to USD 46.56 billion last year as Indian exports continued to decline while the bilateral trade marginally slowed down by 2.1 per cent to nearly USD 71 billion, data released earlier showed.

India's overall exports grew by 4.39 per cent to USD 23.56 billion in June, according to commerce ministry data.
Shipments in the first quarter of 2017-18 rose by 10.57 per cent to USD 72.21 billion while imports surged 32.78 per cent to USD 112.2 billion, leaving a trade deficit of USD 40 billion.

Shipments of engineering goods from India to China aggregated USD 234 million in June, against USD 94 million in the same month last year.

The sharp rise was on the back of a mammoth 971 per cent increase in the shipments of non-ferrous metals in June this year to USD 158 million from a mere USD 14.75 million in the same month last year, the analysis revealed.

T S Bhasin, chairman of the Engineering Export Promotion Council (EEPC) of India, hopes that bilateral trade continues to flourish between the two neighbours.

For the April-June period, non-ferrous metals exports to China saw an increase of 344 per cent from USD 80 million last year to USD 355 million in the first quarter of the current fiscal.
India's engineering exports to China

"China is certainly a key trading partner for India. The two economies are among the fastest growing in the world and can complement each other. A pick up in the Chinese economy is also contributing to the rising consumption of the key metals," the EEPC India Chairman said.
China and South Korea were the leading importers of non-ferrous metals from India during April-June with 17 per cent and 14.6 per cent share respectively, Bhasin said.

Saturday, July 29, 2017

India is world's third-biggest beef exporter: FAO report

UNITED NATIONS: India is the world's third-biggest exporter of beef and is projected to hold on to that position over the next decade, according to a report by the Food and Agriculture Organisation (FAO) and the Organisation for Economic Cooperation (OECD).

OECD-FAO Agricultural Outlook 2017-2026 report released here this week, said that India exported 1.56 million tonnes of beef last year and was expected to maintain "its position as the third-largest beef exporter, accounting for 16 per cent of global exports in 2026" by exporting 1.93 tonnes that year.

The type of beef exported was not specified, but the meat exported appeared to be mostly from buffaloes as the report specified the animal for imports by Myanmar from India.

According to the OECD database, India imported 363,000 tonnes of beef last year and the amount was projected to stay the same over the decade.

The total world beef exports in 2016 was 10.95 million tonnes and was expected to increase to 12.43 million tonnes by 2026, according to the FAO. 

Vietnam eats into India's cashew export plans

KOCHI: Vietnam may spoil India’s plans to raise its cashew exports as it has cornered a large share of raw nuts from West Africa for processing.

India's cashew export has been falling in the last two years. From 1.2 lakh tonnes in 2014-15, it plummeted to 82,302 tonnes last year.

Zooming price of imported raw nuts and dip in export prices have made export unviable for India. India imports over 60% of its raw nut requirement for processing. "Vietnam has been buying raw nuts from West Africa at a higher price to meet its export requirement. As a result the raw nut price has escalated to $2450 per tonne," said P Sundaran, chairman of Cashew Export Promotion Council of India. India’s export had looked good in the first two months of the fiscal.

As its processing cost is lower, Vietnam has been selling below India’s rate. "The US and Europe have started buying from Vietnam as its cashew is cheaper though our cashew is superior in quality. We need support from the government through incentives for export," Sundaran said.

Aggressive selling by Vietnam has pushed down the cashew prices in the export market. It has tumbled from over $ 5 per pound to $4.8. "Vietnam has targeted an export of 3.65 lakh tonnes for which it has been buying and stocking raw nuts till September-October," said K Prakash Rao, managing partner of Kalbavi Cashews.
cashew Export data

India is hoping to buy more raw cashew of better quality from Indonesia and East Africa, where the harvest season is expected to be a month earlier by August-September. "The Indian production is better than last year which may meet the needs of local manufacturers," Rao said.

Indian cashew industry is gearing up for good domestic season with the onset of festival season from August. `` Post GST the stock of most traders is empty and hence they are likely to buy to raise inventory. At present the price in the local market is around Rs 810 per kg compared with Rs 725 per kg in the export market. The prices may rise further when the festival season begins,’’ Rao said.

India is currently the largest consumer of cashews with consumption touching 3 lakh tonnes, two times the export. The consumption is growing at a rate of 5% annually.

Over 12 lakh businesses apply for new GST registration

NEW DELHI: Over 12 lakh businesses have applied for fresh registration under the Goods and Services Tax (GST) regime, Revenue Secretary Hasmukh Adhia has said.

Of these, while 10 lakh applications for registration have been approved, 2 lakh are still pending approval.

"The figure of new registrations approved in GST crosses 10 lakhs today. About 2 lakh applications pending in process," Revenue Secretary Hasmukh Adhia tweeted.

Businesses have time till July 30 to register under the GST.

Also during the course of the year, if a business becomes liable to register under GST, it needs to apply for registration within 30 days from becoming liable for it.

Although businesses with turnover of up to Rs 20 lakh are exempt from GST and hence registration is not mandatory, traders and manufacturers are getting themselves registered so that the input tax credit can be passed on in the supply chain.
When a business registers under GST, it is given a provisional GSTIN. After that, in the second stage, the business has to log in to the GSTN portal and furnish details of its business including the main place of business, additional place, directors and bank account details. 

Saturday, July 22, 2017

India Soybean crushing declines on cheap Oil imports

India is likely to see around a fifth of its Soybean output going uncrushed this season, thanks to a sharp fall in prices and cheap oil imports from Indonesia and Malaysia.The data compiled by the Solvent Extractors’ Association of India (SEA), showed 15% increase in import of vegetable (edible and non-edible) oil at 1.34 million tonnes in June 2017 compared to 1.17 million tonnes in the corresponding month last year.

The apex industry, Soybean Processors Association of India (SOPA), has estimated India’s Soybean output at 11.49 million tonnes for the year 2016-17. With a carryover stock of 441,000 tonnes, overall availability of Soybean for crushing and direct consumption stood at 11.93 million tonnes. Around 8.5 million tonnes  of the overall availibility is estimated to be used for crushing.
Farmers are likely to use 1.2 million tonnes of sowing for the ongoing kharif season. Apart from that, SOPA estimates 150,000 tonnes for direct consumption and 250,000 tonnes for exports.

The Ministry of Agriculture, however, has on July 14 reported a sharp decline in sowing area under Oilseeds including Soybean with total acreage at 10.39 million in this kharif sowing season, compared to 11.58 million by the same time last year.

India exports AYUSH products to 100 countries, ties up with US on R&D

India has exported AYUSH products, including extracts of medicinal herbs, to about 100 countries in the last three years with a total value in excess of $1,100 million, Minister of State (Independent Charge) for AYUSH, Shripad Yesso Naik said in a written reply to a question in parliament on Friday.

India’s exports included extracts of medicinal herbs, Ayurveda medicines, dietary supplements, nutraceuticals and herbal supplements. The data presented by the minister show a gradually increase of AYUSH products in foreign countries.


The minister also informed that India has for the first time successfully engaged with United States in the field of traditional medicine.
An India-US workshop on traditional medicine with special focus on cancer was organised on 3-4 March, 2016 at New Delhi. A US team comprising of experts from National Cancer Institute (NCI) took part in the two-day exhaustive deliberations that have resulted into significant leads.

“A productive bilateral dialogue with Department of Health and Human Services (DHHS), National Institute of Health (NIH) and National Cancer Institute (NCI) team is ongoing,” Naik said.

Giving details of the drug standardisation, the minister said the Ministry of AYUSH has set-up Central Council for Research in Ayurvedic Sciences (CCRAS) as the apex body for formulation and development of Ayurvedic medicines for various diseases.

As many as 88 singles drugs and 33 compound formulations were carried out under drug standardisation in the year 2016-17, according to the minister.

Why It’s Important for India to Trade With Latin America

Many believe that trading with Latin America is expensive and therefore should not be a priority. But statistics tell a different story.

For those who think that Latin America is too far and the cost of freight too high, and therefore that the region should be less important for India’s trade, here is an eye opener from the 2016-17 (April-March) statistics of the commerce ministry of India.

In 2016-17, India exported more to Mexico ($3.5 billion) than to neighbours such as Thailand ($3.1 billion), Myanmar ($1.7 billion) and Iran ($2.4 billion) or traditional trade partners Russia ($1.9 billion) and Canada ($2 billion).

India’s exports to Colombia ($787 million) were more than the exports to some West European countries such as Austria, Ireland and Scandinavian countries.

Guatemala imported more from India ($243 million) than some Central Asian and East European countries.
India’s trade with the Dominican Republic ($900 million) was more than the trade with Portugal, Greece and some other European countries.

For those who think that it is very difficult for India to compete with Chinese exports, here is another piece of information:
India beat China in export of pharmaceuticals to Latin America. India’s exports were $651 million in comparison to China’s $404 million in 2016. In fact, in the last five years, India has been exporting more pharma to Latin America than China. What is even more interesting is the fact that India imports a bulk of its raw materials from China, converts them into finished formulations and exports them.
Trade in 2016-17

India’s trade with Latin America in 2016-17 was $30 billion, of which export was $10.4 billion and imports $19.6 billion. The trade has gone up slightly from $29.7 billion in 2015-16 but is down from $43 billion in 2014-15. The main reasons for the decrease in trade are the fall in commodity prices imported by India from Latin America and the recession of the region in 2015 and 2016. India’s import of crude oil from the region fell to $9.5 billion in 2016-17 from $20 billion in 2014-15, thanks to the decrease in oil prices from over $100 dollars to less $50. The volume of crude imports had, in fact, increased.

In 2016-17, Brazil was the largest trading partner at $6.5 billion, followed by Mexico ($6.4 billion), Venezuela ($5.6 billion), Argentina ($3 billion), Chile ($1.9 billion), Peru ($1.8 billion), Colombia ($1.4 billion) and the Dominican Republic ($900 million).

India’s exports

Mexico was the largest destination of India’s export, valued at $3.5 billion, followed by Brazil ($2.4 billion), Colombia ($787 million), Peru ($699 million), Chile ($676 million) and Argentina ($512 million). Export to Mexico has increased by 21% from last year, while it declined in the case of the other large markets such as Brazil, Argentina, Colombia, Peru and Chile.
Latin America was the leading destination of India’s vehicle exports with a share of 23% of India’s global exports. Mexico continued to be the main buyer of Indian cars with $1.6 billion accounting for 25% of India’s global exports. Vehicle exports to Mexico have been steadily increasing in the last three years and the increase from last year was an impressive 39%. Colombia, which was the number one buyer of Indian motorcycles came down to the third rank in 2016-17 with imports of $185 million, after Bangladesh and Sri Lanka. In 2016-17 Latin America imported motorcycles worth $354 million from India in 2016-17, which was 25% of India’s exports to the world.

Major sources of imports were: Venezuela ($5.5 billion), Brazil ($4.1 billion), Mexico ($2.9 billion), Argentina ($2.5 billion), Chile ($1.2 billion), Peru ($1 billion), Dominican Republic ($675 million) and Colombia ($594 million).

The main imports were crude oil ($9.5 billion), vegetable oil ($2.9 billion), gold and precious stones ($1.7 billion), copper ($1.7 billion), raw sugar ($1 billion) and wood ($309 million). The revenue through sugar imports is generated by mainly by refining and re-exporting to other countries.

The imports are set to increase given the growing demand for these items in India, driven by the increasing population and consumption as well as the high economic growth rate.

Outlook for 2017-18

This trade should go up next year, with the recovery of the economies of the region in 2017. The GDP of Latin America had shrunk by 1.1% in 2015 and 0.5% in 2016. The GDP is expected to grow by 1.1% in 2017, helped by the recovery of global commodity prices. Except Venezuela, all the countries of the region have shown positive GDP growth. Even Brazil, which continues to suffer from political crisis, has turned around with positive growth this year.

Latin America will continue to contribute to India’s energy security with the supply of crude oil. The region has large reserves and the capacity to increase production and exports to meet the increasing crude imports from India. South America has started supplying pulses, which India has been importing more and more with the growing gap between consumption and domestic production.

The collapse of the Trans Pacific Partnership following the withdrawal of the US is good for India. The TPP had extra clauses for patent protection, going beyond the WTO standards, and this would have affected India’s generic medicine exports to Latin America.

The expanded Preferential Trade Agreement signed by Chile and India in 2016 has come into force from May 2017. Peru and India have agreed to start negotiations for a free/preferential trade agreement and this should also help in boosting the trade with the region.

Indian exporters should focus on the markets in the Pacific Alliance (Mexico, Colombia, Peru and Chile) whose economies are growing more and whose trade policies are more stable, transparent and predictable, with the least protectionism.

Latin Americans have started paying more attention to India, especially after arrogant and insulting remarks from Donald Trump against Mexicans and his protectionist trade policies. They also want to reduce the over-dependence on China, which has used its dominance to hurt the region’s industries and given rise to other risks. They attach importance to India, which has overtaken China in terms of GDP growth rate, and see India as a non-threatening trade partner in the long term.

India’s exports could be doubled to $20 billion in the next five years if exporters target Latin America more seriously and systematically.

Thursday, July 20, 2017

Search live rice export import data online easily

Rice plays important role in Indian agriculture products. In terms of rice production India ranks second position all over the world. In India, rice is grown in the eastern and western shoreline areas, Northeast India.Major Importing Countries of Non Basmati Rice are  Saudi Arabia,    China, UAE, USA, United Kingdom,    Malaysia, Japan,    France.
India is the largest rice exporting country and neighboring China is the largest rice importing country in the world as of 2016/17. Only five countries are the major rice exporters are Thailand, Vietnam, China, the US, and India. The three top exporters were Thailand, Vietnam, and India. By 2012, India became the world’s top rice exporter while Thailand slipped to the third position after Vietnam. The three countries accounted for 70% of the world’s rice exports.The primary variety of rice exported by India is the aromatic Basmati  rice variety. Thailand and Vietnam specialize in the export of the Jasmine variety of rice.the major importers of rice in the world are China, Nigeria, the European Union, Saudi Arabia, and the Philippines. China leads the world's countries in rice imports by importing 5,000,000 metric tons of rice in 2016/17.
Rice Exports from India |   Rice Export Import Directory List

Wednesday, July 19, 2017

GST rates: Here's your complete guide

Most of the goods and services have been listed under the four broad tax slabs - 5 per cent, 12 per cent, 18 per cent and 28 per cent. Some items like gold and rough diamonds have exclusive tax rates while some have been exempted from taxation.

As India wakes up to a new tax regime, here is a quick guide to all the goods and services and their respective tax slabs:

Tax exempted
A number of food items have been exempted from any of the tax slabs. Fresh meat, fish, chicken, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, all kinds of salt, jaggery and hulled cereal grains have been kept out of the taxation system.
Bindi, sindoor, kajal, palmyra, human hair and bangles also do not attract any tax under GST.

Drawing or colouring books alongside stamps, judicial papers, printed books, newspapers also fall under this category.

Other items in the exempted list include jute and handloom, Bones and horn cores, hoof meal, horn meal, bone grist, bone meal, etc.

Grandfathering service has been exempted under GST.

A low budget holiday may get cheaper as hotels and lodges with tariff below Rs 1,000 are in this category.
Rough precious and semi-precious stones will attract GST rate of 0.25 per cent.

5% tax  Goods
An array of food items such as fish fillet, packaged food items, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, cashew nut, cashew nut in shell, raisin, ice and snow will be priced at 5 per cent tax.
Apparel below Rs 1000 and footwear below Rs 500 are also in this category.

Some items in the fuel category like bio gas, kerosene and coal are in this slab.

Items from the health industry in this category include medicine, insulin and stent.

Other items in this slab are agarbatti (incense sticks), kites, postage or revenue stamps, stamp-post marks, fertilizers, first-day covers and lifeboats.
Transport services like railways and air travel fall under this category.
Small restaurants will also be under the 5% category
Gold has been taxed under a separate slab of 3 per cent. 

12% tax  Goods
Yet another category of edibles like frozen meat products, butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, namkeen and ketchup & sauces will attract 12 per cent tax. Cellphones will also be priced in this category.
Cutlery items like Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs fall in this slab.

Ayurvedic medicines and all diagnostic kits and reagents are taxed at 12 per cent.

Utility items like tooth powder, umbrella, sewing machine and spectacles and indoor game items like playing cards, chess board, carom board and other board games like ludo are in this slab.

Ayurvedic medicines and all diagnostic kits and reagents are taxed at 12 per cent. Utility items like tooth powder, umbrella, sewing machine and spectacles and indoor game items like playing cards, chess board, carom board and other board games like ludo are in this slab.
Apparel above Rs 1000 will attract 12 per cent tax.
Non-AC hotels, business class air ticket, state-run lottery, work contracts will fall under 12 per cent GST tax slab
18% tax Goods
Another set of consumables are listed under the 18 per cent category- biscuits, flavoured refined sugar, pasta, cornflakes, pastries and cakes, preserved vegetables, jams, sauces, soups, ice cream, instant food mixes, curry paste, mayonnaise and salad dressings, mixed condiments and mixed seasonings and mineral water.

Footwear costing more than Rs 500 are in this category.

Items like Printed circuits, camera, speakers and monitors, printers (other than multi function printers), electrical transformer, CCTV, optical fiber are priced at 18 per cent tax under GST.

Other items in this slab include bidi leaves, tissues, envelopes, sanitary napkins, note books, steel products, kajal pencil sticks, headgear and its parts, aluminium foil, weighing machinery (other than electric or electronic weighing machinery), bamboo furniture, swimming pools and padding pools.
AC hotels that serve liquor, telecom services, IT services, branded garments and financial services will attract 18 per cent tax under GST.

28% tax  Goods
The residuary set of edibles which include chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with choclate, pan masala and aerated water fall in this category.
Bidi attracts 28 per cent tax.

An array of personal care items like deodorants, shaving creams, after shave, hair shampoo, dye and sunscreen are in the highest tax slab as well.

Paint, wallpaper and ceramic tiles are priced at 28 per cent.
Water heater, dishwasher, weighing machine, washing machine, ATM, vending machines, vacuum cleaner, shavers and hair clippers have been clubbed together in this slab.

Automobiles, motorcycles and aircraft for personal use will attract 28 % tax - the highest under GST system.

5-star hotels, race club betting, private lottery and movie tickets above Rs 100 are under the 28 per cent category.

The GST on restaurants in five-star and luxury hotels has been reduced to 18 per cent from 28 per cent, bringing it at par with standalone air-conditioned (AC) restaurants. Even at some air-conditioned restaurants, the bills may come down, as GST will subsume service tax and value-added tax (VAT) that is currently charged.

Saturday, July 15, 2017

Vegetable oil import up 15 pc in June at 13.44 lakh tonnes

India's imports of vegetable oils increased by 15 per cent in June at 13.44 lakh tonnes, according to industry data."Import of vegetable oils during June 2017 is reported at 13,44,868 tonnes compared to 11,69,456 tonnes in June 2016, up by 15 per cent," Solvent Extractors' Association (SEA) said in a statement.In the first eight months of the current 2016-17 oil marketing year, the country's import of vegetable oils (comprising edible oil and non-edible oils) rose marginally at 98,63,572 tonnes compared to 97,63,043 tonnes, it added.Oil year runs from November to October. India imports about 60 per cent of its edible oil requirement. The country imported about about 14 million tonnes of vegetable oil in 2015-16 marketing year.

India's imports of vegetable oils

India’s export grew by 10% in Q1FY18

In the Q1FY18, the export grew by 10.57% to USD 72.21 billion and the import increased by 32.78% to USD 112.2 billion and the trade deficit stood at USD 40 billion.
Export from India soared by 4.39% to USD 23.56 billion in June as shipments of chemicals, engineering and marine products increased, reported a statement released by the Commerce Ministry on Friday.

On the other hand, India import grew from USD 30.68 billion in June of the previous year to USD 36.52 billion in June 2017, showing an increase of 19% due to an increase in inward shipments of oil and gold.

An increase in imports shot up the trade deficit of the country from USD 8.11 billion in June 2016 to USD 12.96 billion in the June 2017, as per the released official data.
Import of gold grew to USD 2.45 billion in the month under review against USD 1.20 billion in the same month of the previous year.

While, the oil import rose by 12.04% to USD 8.12 billion in the June 2017, compared to same period last year.

In the Q1FY18, the export grew by 10.57% to USD 72.21 billion and the import increased by 32.78% to USD 112.2 billion and the trade deficit stood at USD 40 billion.

Thursday, July 13, 2017

India ready to forge 'ambitious' trading relations with UK: Theresa May

LONDON: India is among the countries ready to forge an "ambitious" new trading relationship with the UK after Britain leaves the European Union (EU), Prime Minister Theresa May has told the Parliament.
In a statement in the House of Commons on the recently concluded G20 summit in Hamburg, May said that her meeting with Prime Minister Narendra Modi involved discussions on a wide range of issues, including tackling modern day slavery.
"At this summit, I held a number of meetings with other world leaders, all of whom made clear their strong desire to forge ambitious new bilateral trading relationships with the UK after Brexit. This included America, Japan, China and India," May said in her statement on Monday.
In response to Opposition Labour party leader Jeremy Corbyn on the issue of striking new trade deals, she added: "I am very happy to tell him (Corbyn) that we are already working with the Americans on what a trade deal might look like. We already have a working group with the Australians, and we have a working group with India as well.

"We are working on trade in three areas. Obviously, one area is looking ahead to the trade agreements we can have with those countries we do not currently have them with as a member of the European Union.

"The second is ensuring that, where there are trade agreements with the EU, we are able to roll those forward as we leave the EU.

"The third area is working with countries such as India and Australia to discuss what changes we can make now, before we leave the EU, to improve our trade relationship."

Labour MP Graham Jones asked May if she had raised the issue of modern day slavery and child prostitution in India during her meeting with Modi, to which she said that it was an issue "previously" raised with the Indian PM as the UK wants "people around the world to address it".

"We are very clear that we want to see this issue being dealt with. That is one of the reasons why we have put into legislation the requirement for companies here in the UK, which will be manufacturing and will be sourcing products from around the world, to look at their supply chains and report on what they find in them and whether or not modern slavery is taking place within them," she told Parliament.
Modi and May had held bilateral talks on the sidelines of the G20 summit in Germany last week, during which the Indian leader had raised the issue of Indian economic offenders like liquor baron Vijay Mallya and former Indian Premier League chief Lalit Modi and sought the UK's cooperation in extraditing them to face the Indian courts.

Asia Coffee-Trade slow; Indonesia holds back beans, Vietnam supply tightens

HANOI, July 13 (Reuters) - Trade was slow across major Asian coffee exporting nations as Indonesian traders held back beans amid falling prices while supply in Vietnam tightened towards the end of its crop season, traders said on Thursday.

A fall in the London ICE September contract dragged down local coffee prices in Vietnam, the world's largest robusta producer, to 44,500-45,500 dong ($1.96-$2.00) per kg, from 46,000-46,500 dong a week earlier, traders said.

The contract fell to a two-week low on Tuesday at $2,069 per tonne, but edged up slightly to close at $2,097 per tonne on Wednesday, Thomson Reuters data showed.

Vietnamese exporters offered the 5-percent black and broken grade 2 robusta at a $10-per-tonne discount to the September contract, narrowing slightly from a $20 discount last week, but few deals were struck as good beans were scarce and importers were not keen at such prices, traders said.
Coffee exports imports

Traders expect coffee exports this month at 100,000-125,000 tonnes (1.67-2.08 million 60-kg bags). Vietnam exported 981,000 tonnes of coffee in the first half of 2017, up 18 percent from the same period last year, government data showed.

In Indonesia, traders quoted the robusta grade 4, 80 defects at a discount of $50 per tonne to the London September contract, narrowing from a $60 discount last week as traders held back beans, in hopes of higher prices.

"Supply from farmers is not abundant. The middlemen are waiting for prices to improve," said a trader.
Traders are not as busy selling coffee as they were before a major holiday last month as they are not particularly in need of money now, another trader said. ($1 = 22,729 dong)

Saturday, July 8, 2017

Analyze Export Import Trade Data with Panama

                                             Panama Trade, Exports and Imports

Panama Exports Trade  Statistics

Panama was the United States' 34rd largest goods export market in 2016.

U.S. goods exports to Panama in 2016 were $6.1 billion, down 19.8% ($1.5 billion) from 2015 but up 131% from 2006. U.S. exports to Panama are down 37.5% from 2012 (pre-FTA).

The top export products are  in 2016 were: mineral fuels ($2.2 billion), machinery ($555 million), electrical machinery ($394 million), beverages (whiskies/grape brandy) ($262 million), and special other (low value shipments) ($242 million).

U.S. total exports of agricultural products to Panama totaled $680 million in 2016.  Leading domestic categories include: corn ($84 million), soybean meal ($79 million), prepared food ($55 million), dairy products ($40 million), and pork & pork products ($36 million).

Panama Imports Trade  Statistics

Panama was the United States' 91st largest supplier of goods imports in 2015.

U.S. goods imports from Panama totaled $408 million in 2016, down 0.1% ($549 thousand) from 2015, but up 7.7% from 2006.  U.S. imports from Panama are down 24.5% from 2012 .

The top import products  in 2016 were: special other (returns) ($160 million), fish and seafood (shrimp, snapper, tuna) ($88 million), precious metal and stone (gold) ($31 million), sugar ($28 million), and electrical machinery ($12 million).

U.S. total imports of agricultural products from Panama in 2016 totaled $56 million in 2016. Leading categories include: raw beet & cane sugar ($24 million), coffee, unroasted ($7 million), other vegetable oils ($6 million), sugars/sweeteners/beverage bases ($4 million), and other fresh fruit ($4 million).

U.S. imports of services to Panama were an estimated $1.3 billion in 2015, 0.5% ($7 million) more than 2014.  Leading services imports from Panama to the United States were in the travel, transport, and professional and management services sectors.
Trade Balance :

The U.S. goods trade surplus with Panama was $5.7 billion in 2016, a 20.9% decrease ($1.5 billion) over 2015. The United States has a services trade surplus of an estimated $357 million with Panama in 2015 , up 13.7% from 2014.
Search Live Panama Import Data
Get Panama Import data and shipments Records Online.

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