SME Times News Bureau | 18 Jul, 2012
India's exports to the European Union (EU) have fallen by 10 percent from 13.8 billion euro in January to April 2011 to 12.4 billion euro for the same period in 2012, EUAsia News reported Tuesday.
Exports from the EU to India have fallen by one percent from 13.1 billion euro for January to April, 2011 to 13 billion euro (about $16 billion) for the like period this year.
The figures have been released by the EU's statistical office Eurostat.
EU exports to most of its major partners, however, grew in January-April 2012 compared to January-April 2011, except for Turkey (-5 percent) and India (-1 percent).
The most notable increases were recorded for exports to Russia (+19 percent) and Brazil (+18 percent).
As regards EU imports, the pattern was mixed. The largest increases were recorded for imports from Norway (+13 percent), the US (+8 percent) and Russia (+7 percent) and the largest falls with India (-10 percent) and Japan (-8 percent), Eurostat noted.
Bilateral trade between India and EU in the year 2011 was
US$ 108.80 billion which increased from US$ 83.46 billion in 2010.
India's exports in the year 2010 were US$ 41.15 billion which
increased to US$ 54.74 billion in 2011. On the other hand, imports in the year
2010 were US$ 42.32 billion which also increased to US$ 54.07 billion in 2011.
Recently, Indian trade minister Anand Sharma met
the European Union (EU) Trade Commissioner Mr. Karel De Gucht at Brussels. Both
sides agreed on a roadmap to conclude the ongoing India-EU Bilateral Investment and Trade
Agreement (BITA) negotiations by October-November this
year.