ID :
68642
Thu, 07/02/2009 - 13:28
Auther :
Shortlink :
https://www.oananews.org//node/68642
The shortlink copeid
Exports dip by 29.2%, CommMin expects sops in Budget
New Delhi, July 1 (PTI) India's exports continued to fall
like there was no bottom, dipping by 29.2 per cent in May, and
raised hopes for sops in the budget in the absence of any
sign of recovery.
Government data released today showed that exports shrank
for the eighth month in a row to USD 11.01 billion from USD
15.55 billion in May 2008 -- an indication that there was no
demand in the recession-hit global economies.
Imports too dropped by 39.2 per cent for the fifth
consecutive month to USD 16.21 billion in May, helping halve
the trade deficit in the month to USD 5.20 billion.
"Of course, it (continuous fall in exports) is a matter
of concern... (overall) there are no signs of revival in the
exports demand yet," Commerce Secretary Rahul Khullar told
reporters here.
"...I expect more sops for exporters in the budget,"
Khullar said, adding that the silver lining was that trade in
gems and jewellery was picking up.
"It is not surprising (decline in exports)... this
reflects recession in global economies," Chief Economist of
rating agency CRISIL Subir Gokarn said.
The Commerce Secretary also said that some exporters have
raised concern over rising rupee due to inflow of foreign
funds. The domestic currency appreciated by about 23 per cent
in 2008.
Oil imports during May 2009 plunged by 60.6 per cent to
USD 4.13 billion from USD 10.49 billion in the corresponding
period of the previous year. Non-oil imports during the month
declined by 25.4 per cent to USD 12.07 billion from USD 16.18
billion.
Imports during the first two months of the current fiscal
were USD 31.95 billion against USD 51.50 billion.
The trade deficit during April-May 2009-10 was USD 10.20
billion against USD 19.88 billion.
During April-May 2009-10, oil and non-oil imports dipped
to USD 7.76 billion and USD 24.19 billion, respectively.
Oil and non-oil imports in April-May 2008-09 were USD 19.24
billion and USD 32.26 billion, respectively.
Overseas shipments grew by a meagre 3.4 per cent to USD
168.7 billion in 2008-09 after the global slowdown began to
pinch in the second half of the previous fiscal. PTI
like there was no bottom, dipping by 29.2 per cent in May, and
raised hopes for sops in the budget in the absence of any
sign of recovery.
Government data released today showed that exports shrank
for the eighth month in a row to USD 11.01 billion from USD
15.55 billion in May 2008 -- an indication that there was no
demand in the recession-hit global economies.
Imports too dropped by 39.2 per cent for the fifth
consecutive month to USD 16.21 billion in May, helping halve
the trade deficit in the month to USD 5.20 billion.
"Of course, it (continuous fall in exports) is a matter
of concern... (overall) there are no signs of revival in the
exports demand yet," Commerce Secretary Rahul Khullar told
reporters here.
"...I expect more sops for exporters in the budget,"
Khullar said, adding that the silver lining was that trade in
gems and jewellery was picking up.
"It is not surprising (decline in exports)... this
reflects recession in global economies," Chief Economist of
rating agency CRISIL Subir Gokarn said.
The Commerce Secretary also said that some exporters have
raised concern over rising rupee due to inflow of foreign
funds. The domestic currency appreciated by about 23 per cent
in 2008.
Oil imports during May 2009 plunged by 60.6 per cent to
USD 4.13 billion from USD 10.49 billion in the corresponding
period of the previous year. Non-oil imports during the month
declined by 25.4 per cent to USD 12.07 billion from USD 16.18
billion.
Imports during the first two months of the current fiscal
were USD 31.95 billion against USD 51.50 billion.
The trade deficit during April-May 2009-10 was USD 10.20
billion against USD 19.88 billion.
During April-May 2009-10, oil and non-oil imports dipped
to USD 7.76 billion and USD 24.19 billion, respectively.
Oil and non-oil imports in April-May 2008-09 were USD 19.24
billion and USD 32.26 billion, respectively.
Overseas shipments grew by a meagre 3.4 per cent to USD
168.7 billion in 2008-09 after the global slowdown began to
pinch in the second half of the previous fiscal. PTI
