Financial Daily from THE HINDU group of publications
Wednesday, May 08, 2002
Agri-Biz & Commodities - Exports & Imports
Agri exports post 36.5% growth
NEW DELHI, May 7
DESPITE the overall negative export growth during the first 10 months of fiscal 2001-02, agriculture and allied products, chemical and related products, petroleum products, unclassified exports and electronic exports registered a modest to manifestly substantial growth.
Unpublished foreign trade data gleaned from DGCI&S by the Economic Division of the Commerce Ministry show that agriculture and allied products (weightage 8.73 per cent) logged a whopping growth of 36.55 per cent at $3,143.32 million during April-Jan 2001-02 compared to $3,009 million in the corresponding months of 2000-01.
Chemicals and related products (14.30 per cent) posted a growth of 1.88 per cent at $5,150.06 million as against $5,054.91 million previously. Unclassified exports (4.12 per cent) posted an impressive 170.46 per cent growth at $1,484.49 million as against $548.88 million in the previous corresponding period. Petroleum product exports (4.87 per cent) notched up a growth of 10.33 per cent at $1753.16 million ($1,589.01 million).
The worrisome feature on the export front is the persistently poor showing by textile exports, which with a weight of 22.17 per cent in aggregate exports registered a negative 9.14 per cent growth at $7,981.16 million as against $8,783.79 million in the comparable months of 2000-01.
Destination-wise, exports to major regions such as West Europe and America continued to be dismal, while there was a moderate growth in export to Asia and Oceania and substantial growth in exports to Africa.
India's exports to West Europe (24.18 per cent) registered a growth of -4.23 per cent at $8,707.42 million ($9091.80 million), while exports to the Americas (23.15 per cent) registered a growth of -8.74 per cent at $8336.71 million ($9135.26 million). Exports to Asia and Oceania (26.08 per cent) logged a modest growth of 3.03 per cent at $13,715.44 million as against $13,312.38 million in the corresponding months of 2000-01. Exports to Africa (6.70 per cent) registered a hefty growth of 26.83 per cent at $2,413.62 million ($1,903.03 million).
Overall, India's exports during the first 10 months of the fiscal 2001-02 at $36,007.57 million were 0.83 per cent lower than $36,055.80 million in the comparable months of 2000-01.
On the import front, bulk imports (39.11 per cent) posted a -7.77 per cent growth at $16,714.28 million as against $18,121.88 million in the months of April to January 2000-01. Machinery imports (8.25 per cent) were, however, up by 6.42 per cent at $3,524.77 million as against $3,312.26 million previously.
Interestingly, there has been a spurt in the import of gold and silver, which with a weight of 9.88 per cent in aggregate exports grew by11.46 per cent at $4,222.86 million during April to Jan 2001-02 as against $3,788.61 million in the corresponding months of 2000-01.
Electronic goods imports (7.23 per cent) too jumped by a moderate 5.93 per cent at $3,088.09 million ($2,915.22 million).
Destination-wise, despite worldwide slowdown, India's imports from Asia and Oceania (29.70 per cent) posted a robust 10.16 per cent growth at $12,689.68 million during April-Jan 2001-02 as against $11,519.37 million in the comparable months of 2000-01. Similarly, imports from the Americas (9.20 per cent) too posted a wholesome growth of 20.21 per cent at $3,930.96 million ($3,269.94 million).
Imports from West Europe (26.16 per cent) were down by 2.59 per cent at $7,958.53 million as against $8,170.03 million previously. Imports from Africa (5.18 per cent) logged a substantial growth of 24.91 per cent at $2,211.74 million ($1770.71 million). Overall, India's imports during the period April 2001 to January 2002 was slightly up by 1.31 per cent at $42,732.85 million compared to $42,182.16 million in the corresponding months of 2000-01.
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