New Delhi, Sept 10 Merchandise exports fell 19.7 per cent in August to $14.3 billion, the lowest contraction since January as some product categories showed signs of an uptrend.
During the April-August period, exports slipped 31.3 per cent from a year earlier to $63.9 billion, the Commerce Secretary, Mr Rahul Khullar, said at a news conference. Exports had contracted 28.4 per cent from a year earlier in July.
The rate of decline in August was the lowest in eight months as products such rice, tobacco, fruits and vegetable, marine products, iron ore, man-made yarn and fabrics, ready-made garments and coal have shown an uptrend, Mr Khullar said. “There is a glimmer of hope,” Mr Khullar said, adding a lot would depend on the Christmas orders. Cumulatively, for the first five month of 2009-10, three sectors — rice, tobacco and fruits and vegetables — have shown an upturn, he said.
“Sectors which continue to be in deep trouble are leather, gems and jewellery, drugs and pharmaceuticals both in monthly and cumulatively for the last five months,” he added. The exports of gems and jewellery in August dipped to $2.2 billion from $2.9 billion in last year. In April-August this fiscal, the gems and jewellery exports contracted to $9.7 billion from $14.6 billion last fiscal.
Leather exports in August declined to $0.28 billion from $0.35 billion in the same month last year. Engineering goods exports dropped to $2.6 billion from $3.8 billion. In April-August this fiscal engineering goods shipment shrank to $13.1 billion from $19.8 billion, Mr Khullar said.
Source : Business Line