tag:blogger.com,1999:blog-19649274.post2532774932391107668..comments2024-03-29T12:03:50.891+05:30Comments on The Leap Blog: Measurement of exports in IndiaAjay Shahhttp://www.blogger.com/profile/03835842741008200034noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-19649274.post-82401522010689213792017-05-30T17:02:56.729+05:302017-05-30T17:02:56.729+05:30RBI's quarterly export data (based on BPM6) is...RBI's quarterly export data (based on BPM6) is NOT based on banking data alone. The banking data (called FETERS: Foreign Exchange Transactions Electronic Reporting System) is used along with DGCIS data to compile the entire BoP data based on IMF's 6th Balance of Payments manual (BPM6). By & large the export data is based entirely on DGCIS data. Only small adjustments are made to address exchange rate value issues (DGCIS uses older exchange rate than what IMF recommends) and coverage issues. Hence the two data are match (in fact more than they should). <br /><br />The question, however, is that whether it is right to use DGCIS data directly? IMF recommends reporting exports in FOB basis. Neither the Indian Customs Act's Section 14 nor the Determination of Custom Values Rules mandates that exports at customs should be recorded on FOB basis. If DGCIS is not doing this then using DGCIS data directly is a mistake. <br /><br />For imports IMF recommends CIF basis recording. This is also mandated by Determination of Custom Values Rules. <br /><br />FETERS data is primarily used to calculate leads and lags and address the coverage issues. rbi_employeenoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-33789936612362123682017-05-26T20:07:57.420+05:302017-05-26T20:07:57.420+05:301.RBI data is based on actual cash inflow and DGCI...1.RBI data is based on actual cash inflow and DGCI&S data are based on acrual system of accounting. So there would be difference in data to the extent of opening and closing unrealised payment of export.<br /><br />2. From DGFT productwise, port wise and firm wise data are available.<br /><br />3. After GST product wise firm wise data is available from GST returns.Kapil Sanghvinoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-34096792109619283652017-05-25T16:30:55.944+05:302017-05-25T16:30:55.944+05:30This comment has been removed by the author.ahttps://www.blogger.com/profile/05836567196535969384noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-47996130119171231342017-05-25T16:16:01.496+05:302017-05-25T16:16:01.496+05:30This comment has been removed by the author.ahttps://www.blogger.com/profile/05836567196535969384noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-17848516523016125452017-05-22T21:16:37.288+05:302017-05-22T21:16:37.288+05:30Thanks for pointing this new data source on export...Thanks for pointing this new data source on exports. Yes, export promotion councils do have data on exports. But the disclosure by firms to these Councils is not regular, is not updated and in most cases not of high frequency. For example, the Plastic Export Promotion Council and The Cotton Textiles Export Promotion Council of India websites provide a exports number at annual frequency with latest year being 2015-16. <br />Radhika Pandeynoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-61442545985491263582017-05-20T21:23:46.976+05:302017-05-20T21:23:46.976+05:30It is not surprising that BoP data from RBI and DG...It is not surprising that BoP data from RBI and DGCIS data match, though I wonder if you have factored in the lag that usually is there between actual exports and payments realisation. DGCIS reports monthly exports based on daily trade reports by customs and SEZ as explained in your blog, and RBI reports the data when payment is realised. In fact, every shipping bill filed with customs on their EDI server during exports has an SDF declaration column that gets communicated to RBI for monitoring and which binds the shipping bill filer (exporter) to the payment realisation failing which FEMA provisions would kick in. Therefore as long as the exports at customs is reported (all non-smuggling cases), it cannot happen that money is not realised down the line. Therefore, barring the very small portion of write-offs/non-realization/insurance claims, both data series matching is not surprising. <br />The third part is more interesting. Firm level data (and sectoral data) is more important for detailed analysis of international trade and measuring effectiveness of some of the so called export promotion schemes. Apart from the reporting mechanism as outlined in this blog, a set of export promotion councils are supposed, and mandated under the Foreign Trade Policy, to capture firm level data for their sector. I am not sure how good is their data collection system but given that registration with one of the export promotion councils (we have dozens) is mandatory, they should be capturing that data on quarterly basis. One may explore the option of collecting data from them and compiling to get a picture. Tirumala Venkatesh Kaggundihttps://www.blogger.com/profile/12460774213083580129noreply@blogger.com