The Hindu Business Line : Five commodities emerge top performers in April '05 exports

FIVE commodities, both conventional and non-conventional, accounting for close to 39 per cent of the country's aggregate exports, have emerged as the top performers in exports during the inaugural month of 2005-06.

They are transport equipment, cotton readymade garment, including accessories, drugs, pharmaceuticals and fine chemicals, gems and jewellery and petroleum products.

According to provisional figures of disaggregated trade figures compiled by the Directorate General of Commercial Intelligence and Statistics, transport equipment with a weight of 5.18 per cent logged a growth of 114.39 per cent during April 2005 at $347.61 million, against $162.14 million in April 2004.

RMG cotton including accessories (6.31 per cent) posted a growth of 20.74 per cent at $422.87 million ($350.24 million).

Drugs, pharmaceuticals and fine chemicals, with a weight of 4.65 per cent, registered a growth of 15.45 per cent at $311.98 million ($270.23 million), while petroleum comprising, crude and products exports (9.15 per cent), notched a growth of 9.17 per cent at $613.66 million, against $562.12 million.

Traditional items such as gems and jewellery (14.67 per cent) grew 11.80 per cent at $983.65 million in April 2005, against $879.86 million in the corresponding month of April 2004.

Unclassified exports, accounting for a meagre 3.77 per cent, posted a robust 36.46 per cent growth at $252.64 million ($185.13 million).

Exports of agriculture and allied products (7.72) suffered a decline of - 2.49 per cent during the first month of the current fiscal at $517.42 million ($530.63 million), while plantation (0.88 per cent) posted a wholesome 42.08 per cent growth at $59.07 million, against $41.57 million.

On the whole, exports during the first month of the current fiscal logged a growth of 19.67 per cent at $6,706.26 million ($5,603.96 million).

Among the top 15 countries for exports, South Africa recorded the highest growth of 146 per cent, followed by South Korea at 76 per cent, France (72 per cent), the UK (53 per cent), Singapore (32 per cent) and China (31 per cent).

Exports to the United Arab Emirates recorded negative growth rates.

On the import front, the top five commodities of imports accounting for a share of 63 per cent in total imports are pearls, precious, semi-precious stones, machinery except electrical and electronic, petroleum, crude and products, electronic goods and gold.

Petroleum, crude and products, with a weight of 30.18 per cent in total imports grew 30.10 per cent in April 2005 at $3036.73 million, against $2334.11 million in the corresponding month of April 2004, partly fuelled by the flare-up in global crude prices.

Gold, with a weight of 11.50 per cent in the country's import basket, logged a growth of 21.09 per cent at $1156.62 million ($955.20 million), which is in keeping with the trend of 2004-05 when such imports crossed $10 billion.

Import of electronic goods (7.53) per cent posted a robust growth of 28.17 per cent at $757.48 million ($590.99 million), while machinery, except electrical and electronic (6.15 per cent), grew 97.14 per cent at $618.99 million ($313.998 million).

Import of pearls, precious and semi-precious stones (7.70 per cent) grew a whopping 116.47 per cent at $775.08 million ($358.05 million).

Bulk imports with a weight of 40.54 per cent in aggregate imports also posted a relatively robust 35.66 per cent growth at $4088.07 million ($3,013.36 million).

On the whole, imports during April 2005 at $10,060.44 million were 45.80 per cent higher than $6,900.15 million in the previous corresponding period.

Among the top 15 countries for imports, the highest growth was recorded by South Africa at 93 per cent, followed by Germany (86 per cent), Belgium (85 per cent), Malaysia (83 per cent), Hong Kong and the UK Kingdom at 79 per cent each, Switzerland and Singapore at 77 per cent each, the US (62 per cent), South Korea (48 per cent) and China (47 per cent).

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