|
|
Merchandise exports down 21 pc in March
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 18 Apr, 2015
Country's merchandise exports in March at $23.95 billion took a major hit and
were down 21 percent from the same month of last year, official data
showed on Friday.
Goods exports fell in March for the fourth month running.
In
the process, the country's trade deficit for March stood at its highest
since November last at Rs.$11.87 billion, as against $10.95 billion for
the like month of the previous fiscal, as per data released by the
commerce ministry.
While the trade deficit was $6.85 billion in
February, for the whole year 2014-15 it rose slightly to $137.01 billion
as against $135.7 billion a year ago.
March exports were at
$23.95 billion as against $30.34 billion a year ago. The March imports
were at $35.74 billion as compared to $41.29 billion in the same month a
year ago.
For the fiscal 2014-15, imports rose to $447.5 billion, down 0.6 percent year-on-year.
The year's cumulative exports came in at $310.5 billion, which is 1.2 percent lower year-on-year.
Crude
oil imports for the fiscal were reported at $138.3 billion, down 16.1
percent year-on-year on the back of a significant softening of
international prices.
Fiscal 2014-15 non-oil imports rose to $309 billion, up 8.4 percent year-on-year.
Non-oil imports could pick up this year owing to a recovery in the manufacturing sector.
Europe's
share in India's merchandise exports fell to 18.1 percent in the 11
months to February at $51.6 billion, while other regions showed growth
in sales.
Commenting on the data, S.C. Ralhan, chairman,
Federation of Indian Export Organisations (FIEO) said continuous
slowdown in demand in global markets and liquidity problem has in a
major way being responsible for the double digit negative growth in
exports during the last quarter.
"Most of our factories are working for eight hours against 24 hours earlier as orders from Europe have dried up," Ralhan said.
Almost all major sectors of exports have shown negative growth during the last three months, he added.
"Double-digit
decline in exports for three consecutive months is a cause of worry,"
said A. Didar Singh, secretary general of industry chamber FICCI.
"India's trade deficit widened in March to the highest in last four months", he added.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|