Date:05/04/2005 URL: http://www.thehindubusinessline.com/2005/04/05/stories/2005040501700700.htm

Back Traditional items propel exports in April-December

G. Srinivasan

New Delhi , April 4

THE 27 per cent export growth in dollar terms during the first-three quarters of the 2004-05 fiscal year is largely due to the salutary performance of engineering goods, gem and jewellery, petroleum products and chemicals and related products which together account for a lion's share, of 59 per cent, of the country's aggregate exports.

Disaggregated trade data compiled by the Economic Division of the Department of Commerce drawn from the provisional figures of the Directorate General of Commercial Intelligence and Statistics, Kolkata, reveal that by far the unclassified exports with a share of 4.60 per cent in total exports did exceedingly well by notching up a growth of 110 per cent at $2,593.51 million during April-December 2004, against $1,233.63 million in the comparable months of 2003.

Whereas gem and jewellery (weight 16.64 per cent) grew by 18.56 per cent at $9,376.54 million during the period under review against $7,908.83 million in the corresponding months of 2003; chemicals and related products (15.55 per cent) clocked up a growth of 27 per cent at $8,762.63 million against $6,916.74 million.

Engineering goods (17.68 per cent) registered a growth of 38 per cent at $9,966.42 million against $7,222.32 million. Textile exports with a share of 15.54 per cent in total exports, after a setback in the previous fiscal, managed to improve its showing by registering a growth of 4.12 per cent at $8,757.40 million against $8,410.81 million. Agriculture and allied products exports (7.32 per cent) also posted a 16 per cent growth during the period under review at $4,123.22 million against $3,558.72 million.

Overall, the country's exports during the first three quarters of the current fiscal grew by 26.84 per cent at $56,357.58 million against $44,432.37 million.

Destination-wise, India's exports to Asian and Oceania, which absorbs considerable chunk of 47 per cent of aggregate exports, grew 30.01 per cent at $26,324.26 million against $20,248.36 million.

Exports to Western Europe (weight 23.72 per cent) grew by 22 per cent at $13,369.38 million against $10,958.95 million.

Exports to the Americas (21.20 per cent) grew by 23.65 per cent at $11,949.92 million against $9,664.26 million, while exports to Latin American countries (2.62 per cent) posted 81.45 per cent growth at $1,474.81 million against $812.80 million.

Among India's top 15 countries for exports, Singapore logged the highest growth of 94 per cent, followed by China at 61 per cent, Saudi Arabia at 32 per cent, France at 32 per cent and Belgium at 31 per cent. On the import front, bulk imports with a share of 39.57 per cent in total imports grew by 43 per cent at $30,173.10 million against $21,103.22 million.

Import of petroleum, crude and products (28.10 per cent) recorded a growth of 46 per cent at $21,422.92 million against $14,705.85 million.

Import of pearls, precious and semi-precious stones, which account for a share of 8.14 per cent in total imports, grew by 24.03 per cent at $6,208.43 million against $5,005.74 million.

Though machinery imports account for a share of just 10 per cent in total imports, they grew by 29 per cent at $6,208.43 million against $5,005.74 million.

Import of gold and silver (9.57 per cent) notched up a growth of 46 per cent at $7,297.58 million against $5,006.56 million.

Import of other commodities with a weight of 4.27 per cent in total imports, grew by 73.65 per cent at $3,255.27 million against $1,874.66 million. On the whole, imports into India grew 37.42 per cent at $76,249.20 million during the first three quarters of the current fiscal against $55,485.60 million.

Destination-wise, imports from Asian and Oceania, which account for a major share of 35.46 per cent grew by 44.43 per cent during the period under review at $27,309.27 million, against $18,721.61 million.

Imports from West Europe, which supplies as much as 22.07 per cent of total imports, grew by 25.57 per cent at $16,826.07 million against $13,399.64 million.

Imports from the Americas (8.59 per cent) posted a growth of 32 per cent at $6,548.68 million against $4,977.08 million.

Among India's top 15 countries for imports, the highest growth was compassed by the UAE at 142 per cent, followed by China at 70 per cent, Australia at 52 per cent and Switzerland at 48 per cent.