It is reported that India's exports slid for the 11th straight month in August by 19.7% to USD 14.3 billion owing to the continuing slump in global demand.
In April to August this fiscal, the overseas shipment contracted by 31.3% to USD 63.9 billion from USD 93.1 billion in the same period last year.
Mr Rahul Khullar commerce secretary said that for the first five month of 2009-10, three sectors rice, tobacco and fruits and vegetables have shown positive growth. He told reporters that only in August, segments like rice, tobacco, fruits and vegetable, marine products, iron ore, man made yarn and fabrics, some minerals, like coal and ready made garments have shown positive growth.
Mr Khullar said that "Sectors which continue to be in deep trouble are leather, gems and jewellery, drugs and pharmaceuticals both in monthly and cumulatively for the last five months.”
Mr Khullar said that in April to August this fiscal engineering goods shipment shrank to USD 13.1 billion from USD 19.8 billion.
The exports of gems and jewellery in August dipped to USD 2.2 billion from USD 2.9 billion in last year. In April to August this fiscal, the gems and jewellery exports contracted to USD 9.7 billion from USD 14.6 billion in April to August last fiscal.
Leather exports in the month under review declined to USD 0.28 billion from USD 0.35 billion in the same month last year. Engineering goods exports was dropped to USD 2.6 billion from USD 3.8 billion.
(Sourced from http://www.steelguru.com/news/index/2009/09/11/MTExMTk3/Slowdown_signs_-_Exports_dip_for_the_11_straight_months.html)
Thursday, September 10, 2009
Slowdown signs - Exports dip for the 11 straight months
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