Exports jump 49%, but volumes not yet robust

Exports in February jumped by 49.7 per cent, reaching $23.6 billion compared to $15.75 billion in the same month last financial year.

Imports grew 21.2 per cent to $31.7 billion over $26.2 billion last year. However, analysts believe this boom in exports is because of a rise in prices, while volumes have remained the same.

During April to February, exports topped $208.2 billion, up 31.4 per cent in the corresponding financial year of 2009-10. Cumulative imports in the same period reached $305.3 billion compared to $258.7 billion a year ago, data released by the ministry of commerce and industry stated.
 

SECTORAL BREAK-UP
Year	Merchandise exports	Growth rate	Merchandise imports	Growth rate	Balance of trade
2003-04	63.8	21.1	78.1	27.2	-14.3
2004-05	83.5	30.9	111.5	42.8	-28.0
2005-06	103.1	23.5	149.2	33.8	-46.1
2006-07	126.4	22.6	185.7	24.5	-59.3
2007-08	163.1	29.0	251.6	35.5	-88.5
2008-09	185.3	13.6	303.6	20.7	-118.3
2009-10	178.6	-3.6	286.8	-5.5	-108.2
*Values in billion dollars Source: Ministry of Commerce & Industry/DGCIS

 

According to commerce secretary Rahul Khullar, merchandise exports are expected to end up within the range of $230-235 billion and imports are expected to top $350 billion in 2010-2011.

During the period, there has been visible growth in the export of gems and jewellery, engineering products, petroleum, ready-made garments, pharmaceuticals, plastics and carpets.

The ministry believes the growth was because of diversification of exports and tapping new markets.