Exports may fall below $300 b this fiscal

The country’s exports in 2012-13 may fall below $300 billion, given a severe global slowdown, especially in merchandise trade, industry body Assocham said.

According to official data, while exports registered a small growth of 3.2 per cent in April, the situation worsened in May and June.

Shipments, in value terms, decelerated by 4.16 per cent in May to $25.68 billion and by 5.45 per cent in June to $25 billion.

 For the first quarter of April-June, exports were down by 1.7 per cent to $75.2 billion, from $76.5 billion in the same period last fiscal.

 If the present global market scenario continues, the chamber expects the total export billing in the range of $297-300 billion.

 heena.k@thehindu.co.in