The economy couldn't have had a more cheerful start to the New Year. After 13 consecutive months of sliding, India's merchandise exports — which contribute a fifth to GDP — rose 18.2% in November to $13.2 billion. Imports remained in the negative zone declining by 2.6% to $22.88 billion, leading to a lower trade gap of $9.69 billion during the month under review against $12.32 billion in the same period a year ago. For the April-November period, exports were lower by 22.3% at $104.24 billion from a year-ago period, much lower than the 26% gap seen up to October. But as an indicator to a pickup in the economic activity, contraction in imports during November was much lower than 15% seen in October. But industry and analysts alike cautioned against taking the year-on-year growth in exports as a sign of firm revival. That is because part of the growth is due to the lower base of exports last year during this period. Notwithstanding this, it is also a fact that there has been a revival in global demand too.
No comments:
Post a Comment