Exports drop 14 pc in Sept, decline decelerated

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SME Times News Bureau | 30 Oct, 2009
India's exports declined by 13.8 per cent in September, for 12 months in a row, but the fall was lowest in the current financial year, signaling gradual recovery in the country’s export sector.

The exports in September stood at USD 13.6 billion, against USD 15.8 billion in the same month last year.

During the first half of the current fiscal, overseas shipments contracted by 28.5 per cent to USD 77.9 billion, against USD 108.9 billion in the same period last year, Commerce Secretary Rahul Khullar Friday told reporters in Mumbai.

The pace of decline of the country's exports have, however, slowed since May when it tanked 39.2 per cent and in the subsequent month it contracted by 31.9 per cent. In July the overseas shipment fell by 28.4 per cent and in August it dipped 19.5 per cent.