News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Home  » Business » India's exports fall by 22% in February

India's exports fall by 22% in February

Source: PTI
April 01, 2009 13:26 IST
Get Rediff News in your Inbox:
India's exports declined by 21.7 per cent in February over the year-ago period, posting contraction for the fifth month running, under the impact of demand slowdown in major global markets.

The exports dropped to $11.91 billion in February this fiscal from $15.22 billion a year ago, while imports were down by 23.3 per cent to $16.82 billion from $21.93 billion, leaving a monthly trade deficit of about $4.91 billion, according to official figures.

The exports contracted by 12.1 per cent to $12.8 billion in October 2008, showing a negative trend for the first time in the last five years.

For the April-February period, the country's exports grew marginally by 7.3 per cent to $156.59 billion. The growth for the first half of the fiscal was 30.9 per cent.

The imports between April and February went up by 19.1 per cent to $271.68 billion. The trade deficit for the period has mounted to $115.09 billion from $82.20 billion in the previous fiscal 2007-08.

With the US and several European countries slipping into full-blown recession, Indian exporters have run into difficult times, especially since October.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!