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Farm, chemical items help exports grow 23 pc

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Bulk imports growth at 43.04 per cent

G. Srinivasan

Encouraging trends


In terms

of value, the country's exports last fiscal breached the $100-billion mark to stand at $102.7 billion (provisional) for the first time.

India exported

petroleum products amounting to $11.5 billion, with this alone accounting for a substantial 11.21 per cent share in total exports.

New Delhi, June 16

Traditional items such as agriculture and allied products, chemicals and related products, engineering goods and textiles and unconventional item such as petroleum products which constitute nearly 67 per cent of aggregate exports performed exceedingly well to enable the country's exports to grow at 23 per cent in dollar terms during 2005-06, the penultimate year of the Tenth Five-Year Plan.

In terms of value, the country's exports last fiscal breached the $100-billion mark to stand at $102.7 billion (provisional) for the first time.

Disaggregated trade data gleaned from provisional figures of the Directorate General of Commercial Intelligence & Statistics (DGCI&S), Kolkata, by the Economic Division of the Commerce Ministry show that even as the country spent close to $44 billion in importing petroleum crude and products which showed a growth of 31 per cent last fiscal, India exported petroleum products amounting to $11.5 billion with this item alone now accounting for a substantial 11.21 per cent share in total exports.

While exports of agriculture and allied products (7.21 per cent weight) logged a handsome growth of 17.71 per cent at $7,407.89 million ($6,293.34 million) in fiscal 2005-06, exports of chemicals and related products (15.10 per cent) registered a growth of 17.85 per cent at $15,514.10 million ($13,761.77 million). Engineering goods (18.66 per cent) exports notched up a robust 24.61 per cent growth at $19,168.82 million ($15,383.02 million).

The country's textile exports which had not been doing well in the past couple of years broke the pattern and after the abolition of the global quota regime governing trade in textiles and clothing from end-December 2004, exports in the first year posted a 17.71 per cent growth at $15,205.99 million ($12,918.49 million). Incidentally, exports of textiles account for a share of 14.80 per cent in aggregate exports.

Destination-wise, exports to Asia and Oceania which account for a massive chunk of close to 47 per cent in total exports, recorded a wholesome 20.57 per cent growth during fiscal 2005-06 at $48,222.08 million ($39,994.39 million), while West Europe (23.91 per cent share) posted a growth of 25.96 per cent at $24,563.10 million ($19,501.20 million). While exports to the Americas (20.63 per cent share) grew by 26.06 per cent during 2005-06 at $21,193.20 million ($16,812.43 million); to Africa (6.95 per cent share) showed up a healthy growth of 28.12 per cent at $7,138.66 million ($5,572 million).

Among the top 15 countries, South Korea topped the league by notching up a growth of 75 per cent followed by the Netherlands (53 per cent), Sri Lanka (43 per cent), UK (40 per cent) and Singapore (39 per cent). Overall, the country's exports during 2005-06 registered a growth of 22.97 per cent at $1,02,725.10 million ($83,535.94 million).On the import front, bulk imports with a weight of 42.56 per cent in total imports logged a growth of 43.04 per cent at $60,610.11 million during 2005-06 against $42,374.14 million in the fiscal year 2004-05. Import of petroleum crude and products (30.87 per cent share in total imports) showed a growth of 47.31 per cent at $43,963.09 million in 2005-06 ($29,844.10 million).While import of machinery (10.94 per cent) registered a hefty growth of 20.16 per cent at $9,140.74 million ($9,422.71 million), import of electronic goods (9.26 per cent) posted a growth of 32.01 per cent at $13,192.02 million ($9,993.16 million). Import of gold and silver, which account for a share of 7.86 per cent in total imports, registered a tepid growth of 0.35 per cent during 2005-06 at $11,189.44 million ($11,149.99 million).Destination-wise, Asia and Oceania emerged as the biggest source of import for India as this region accounted for close to 35 per cent in aggregate imports. Imports from this region grew by a relatively robust 24.15 per cent in 2005-06 at $49,297.49 million ($39,707.72 million). While import from West Europe (20.95 per cent) grew by 17.33 per cent at $29,834.80 million ($25,428.45 million), imports from the Americas (7.77 per cent) posted a modest 12.70 per cent growth at $11,064.54 million ($9,810.28 million). Import from Africa (3.29 per cent) grew by 16.85 per cent at $4,683.93 million ($4,008.65 million).Among the top 15 countries for imports, the highest growth was recorded by China (51 per cent) followed by Germany (45 per cent), Australia (27 per cent), Hong Kong (25 per cent) and Korea (24 per cent). Overall, the country's import growth was 27.71 per cent during 2005-06 at $1,42, 416.29 million ($1,11,517.43 million).

(This article was published in the Business Line print edition dated June 17, 2006)
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