Thursday, March 10, 2011

Exports up by 49.8 p.c. to $ 26.3 billion in February

New Delhi, March 10, 2011

India's exports went up by 49.8 per cent year-on-year to $ 23.6 billion in February on the back of increased demand from markets like North America, Asia and Africa.

During April-February, 2011, the country's merchandise shipments grew by 31.4 per cent to $ 208.2 billion, surpassing the export target of $ 200 billion for the entire 2010-11 fiscal.

"We have crossed the $ 200 billion mark... The current forecast for the year is $ 230-235 billion," Commerce Secretary Rahul Khullar told reporters here.

Imports also went up in February, rising by 21.2 per cent to $ 31.7 billion, leaving a trade gap of $ 8.1 billion, Mr. Khullar said.

During April-February, 2011, imports grew by 18 per cent to $ 305.3 billion. During the 11-month period, the trade deficit amounted at $ 97.1 billion.

"We will end up (the fiscal) closer to $ 350 billion imports," Mr. Khullar added.

The export sectors that performed well during the April, 2010-February, 2011, period include gems and jewellery, engineering, ready-made garments, cotton yarn, electronics, plastics, carpets and pharmaceuticals.

The sectors which saw the maximum imports were petroleum and oil lubricants, gems and silver, vegetable oil, machinery and chemicals

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