Exim Bank expects merchandise, non-oil exports to grow over 12% in Q2 FY'19

Export-Import Bank of India (Exim Bank) expects India's merchandise exports as well as non-oil exports to grow over 12 per cent in the second quarter of the ongoing financial year.

While the merchandise exports are likely to grow 12.3 per cent in September quarter, non-oil exports may witness 12.4 per cent growth during the period, Exim Bank said in a statement.

Merchandise exports during September quarter 2017-18 stood at $74.21 billion and non-oil exports stood at $65.17 billion.

The forecast is based on Exim Bank's Export Leading Index (ELI), which continued to show a positive growth momentum.

The next growth forecast for October-December would be released during the first week of December 2018.

ELI gauges the outlook for exports and is essentially developed as a leading indicator to forecast growth in total merchandise and non-oil exports of the country, on a quarterly basis, Exim Bank said.