Economy

Exports jump 50% to $23.6 b in Feb

PTI New Delhi | Updated on March 10, 2011 Published on March 10, 2011

Mr Rahul Khullar, Commerce Secretary. (file photo)   -  Business Line

India’s exports went up by 49.8 per cent yea-on-year to $23.6 billion in February on the back of increased demand from markets like North America, Asia and Africa.

During April-February 2010-11, the country’s merchandise shipments grew by 31.4 per cent to $208.2 billion, surpassing the target of $200 billion for the entire 2010-11 fiscal.

“We have crossed the $200-billion mark... The current forecast for the year is $230-235 billion,” the Commerce Secretary, Mr Rahul Khullar, told reporters here.

During February, imports too went up by 21.2 per cent to $31.7 billion, leaving a trade gap of $8.1 billion.

During April-February 2010-11, imports grew by 18 per cent to $305.3 billion. During the 11-month period, the trade deficit amounted to $97.1 billion.

“We will end up (the fiscal) closer to $350-billion imports,” Mr Khullar said.

Export sectors that performed well during the April-February this fiscal include gems and jewellery, engineering, readymade garments, cotton yarn, electronics, plastics, carpets and pharmaceuticals.

The sectors, which saw the maximum imports, were petroleum and oil lubricants, gems and silver, vegetable oil, machinery and chemicals.

Published on March 10, 2011
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