India's Q4 export growth highest among top economies .

India recorded the highest growth rate (in value) among the world's top 70 economies in merchandise exports by clocking a 13 per cent increase during the March quarter over previous quarter.

In other words, India raked in 13 per cent more dollars from merchandise exports valued at $50,342 million during March quarter as against $44,417 million in the December quarter. It surpassed global majors such as China, US, Japan, France, the UK and Germany, in the growth rate during the quarter, according to the World Trade Organisation data.

The data for about 70 economies representing about 90 per cent of world trade show that merchandise trade declined in January and February 2010, then rose sharply in March. This trend was also seen in India. In March, exports rose to $19,908 million as against $16,091 million in February and $14,343 million in January.

“We are seeing a revival in exports from the beginning of this year. Usually, the December quarter is very busy with Christmas and New Year shipments but it was surprising that the March quarter was better this time,” according to an official of a leading Custom House Agency. “While the volume may be less when compared to other countries, it is a good sign that we are doing well.”

Imports

In imports, the value of merchandise that came in to India saw a three per cent increase during the March quarter as against the December quarter.

Year-on-year growth

The value of world merchandise trade was around 25 per cent higher in the first three months of 2010 compared with the same period of 2009, according to the WTO figures. Global exports rose by 27 per cent while imports rose at 24 per cent, the WTO report says.

The WTO said its data referred to the current US dollar amounts, unadjusted for inflation, which cannot be directly compared to annual trade growth data that relies on a historical valuation of the dollar.

The value of world merchandise exports fell 23 per cent to $12.15 trillion in 2009, while world commercial services exports declined 13 per cent to $3.31 trillion. This marked the first time since 1983 that trade in commercial services declined year on year, the WTO said in March.

Source :- thehindubusinessline.com