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G. Srinivasan

New Delhi , Dec. 25

DOUBLE-digit growth by traditional export products such as engineering goods, chemicals and related products and a moderate growth by gems and jewellery pulled up the overall export growth to 7.71 per cent in dollar terms during the April-August period.

Gems and jewellery together account for almost half of the merchandise goods exported from the country.

Unpublished foreign trade provisional figures based on DGCIS, Kolkata, and compiled by the Economic Division of the Commerce Ministry for April-August 2003 reveal that engineering goods, with a weight of 16.16 per cent in overall exports, notched up 26.80 per cent growth at $3,612.09 million, as compared to $2,848.66 million in the same period last year. Chemicals and related products (15.63 per cent weight) registered 12.51 per cent growth during the period under review at $3,492.33 million, against $3,104.05 million in the comparable months of 2002. Gems and jewellery (16.89 per cent) logged a 6 per cent growth at $3,774.51 million, against $3,562.02 million in the comparable months of 2002.

However, another traditional item, textiles, with a weight of 19.19 per cent in aggregate exports, displayed a dismal trend. Textile exports declined by 7.42 per cent during April-August at $4,288.39 million ($4,631.95 million).

Even exports of agri and allied products (7.90 per cent weight) registered a 2.06 per cent growth at $1,764.74 million, against $1,729.19 million in the corresponding months of 2002.

Overall, exports during the first five months of the current fiscal fetched $22,345.69 million, against $20,746.48 million in the comparable months of 2002, reflecting a growth rate of 7.71 per cent.

Destination-wise, Asia and Oceania is on the top for Indian merchandise goods, accounting for a share of 43.50 per cent in overall export and recording a robust 12.76 per cent growth at $9,719.53 million, against $8,619.75 million in the comparable period of 2002. West Europe was the second biggest market for Indian products, accounting for a share of 25.25 per cent in overall export and registering a growth rate of 11.32 per cent at $5,642.73 million during April-August, against $5,069.04 million in the corresponding months of 2002.

On the other hand, exports to the Americas fell by 7 per cent, even as this region absorbs 22.28 per cent of Indian goods. India's exports to the US have amounted to $4,977.85 million during the period under review, against $5,348.09 million in the corresponding months of 2002.

Though Africa accounts for only 6.04 per cent of Indian exports, goods to this continent logged a 16.32 per cent growth at $1,348.99 million, against $1,159.75 million.

On the import front, bulk imports (38.43 per cent) held up well during the period under review by recording a growth of 13.49 per cent at $10,887.06 million, against $9,593.37 million in the comparable months of 2002. Machinery imports, accounting for a share of 9.45 per cent, set a higher growth trend of 32 per cent at $2,697.49 million, against $2,043.62 million in the corresponding months of 2002. Import of gold and silver (9.88 per cent weight) grew by a 73.62 per cent during April-August at $2,820.68 million, against $1,624.58 million in the corresponding months of 2002.

Petroleum crude and lubricants, accounting for a share of 26.55 per cent in overall imports, notched up a growth of 6.77 per cent at $7,579.93 million, against $7,099.44 million.

Overall, imports during the first five months of the current fiscal amounted to $28,552.02 million, against $23,467.46 million, registering a growth of 21.67 per cent.

Destination-wise, imports were high from Asia and Oceania (31.68 per cent share) as they grew by 37.58 per cent at $9,045.14 million, against $6,574.42 million in the comparable months of 2002.

Imports from West Europe (24.80 per cent) grew by 22.79 per cent during the period under review at $7,081.23 million, against $5,766.79 million, while imports from the Americas (9.01 per cent share) grew by 15.18 per cent at $2,571.16 million, against $2,232.34 million in the comparable months of 2002.

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