Engineering exports see a falling trend

January painted a worrying figure as exports declined 4.2% after falling only 0.5% in Dec

Engineering exports during the first ten months of 2012-13 fell by 6% to $45.33 billion, over the same period last year ($48.22 billion) in 2011-12, reinforcing the trend of falling engineering exports of India.

In the April-December, 2012-13 quarter, engineering exports fell by about 6.1% over the same period last year, according to analysis on the engineering exports trend by EEPC India.

However, the worrying factor is that in the month of January, the engineering exports fell by 4.23%, after recording a fall of 0.55% in December 2012.

“It does seem that in the current fiscal year, engineering exports is unable to cross $5 billion monthly exports mark, and is stuck in the range of $4.4 - 4.7 billion mark,” according to EEPC.

Engineering Exports in $ million

Month	2011-12	2012-13	Growth Rate
april	4,657.83	4,996.32	7.27
May	5,708	4,945.9	-13.35
June	5,374.29	4,596.07	-14.48
July	5,474.19	4,459.1	-18.54
August	4,863.75	4,444.31	-8.62
September	4,812.13	4,488.73	-6.72
October	4,042.95	4,120.14	1.91
November	3,840.14	4,054.7	5.59
December	4,809.22	4,782.91	-0.55
January	4,640.56	4,444.36	-4.23
Total	48,223.1	45,332.5	-5.99

Source: EEPC & Dept of Commerce

Over the 33 engineering panels, 17 recorded negative growth in the first ten moths, as opposed to 13 in the first nine months of the current fiscal. Again, 19 engineering panels recorded negative growth in January 2013, as opposed to 14 in December 2012.

Between April-January 2013, sharp fall in exports was seen in areas like aircrafts, spacecraft and parts, which fell by almost 30% in April-January 2013 to $1424 million, against $2055 million in the same period last year.  In the area of ships, boats and floating structure vertical, the fall in growth was almost 56%, as exports stood at $2953 million (April 12-Jan 13), against $6715 million (April 11-Jan 12) in the same period last year.