3.3.10

Exports grow 11.5% in January

India’s merchandise shipments rose 11.5% in January, continuing the uptrend for the third consecutive month on rising overseas demand as economies recover from slowdown. Exports increased to $14.34 billion in January against $12.86 billion in the same month a year ago. In November and December, exports had grown 18.2% and 9.3%, respectively, after declining for 13 months since October 2008. Imports too turned positive on the back of growing economic activities, rising 35.5% to $24.7 billion from $18.22 billion. As a result, trade deficit nearly doubled to $10.36 billion in January 2010 from $5.3 billion in the same month last year. This is the second consecutive month of growth in imports after falling for 11 months in a row. However, exports during the April-January period were still negative as for most part of the 10-month period outward shipments saw big drops. During this period, consignments declined 17.8% to $131.93 billion against $160.43 billion in the same period of the previous fiscal.

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