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Exports to key destinations witness negative growth

26
Feb '10
The export growth performance of different categories of exports in 2008-09 shows that while primary products and petroleum products buckled under the pressure of world recession, despite a good growth in the first half of 2008-09, manufactured goods exports particularly to the EU and 'Others' were more resilient, though there was a moderation in growth.

However, India's exports of manufactures to the US market grew by only 2.2 percent. This was due to the accentuation of the negative growth in textiles exports and the growth in gems & jewellery exports to the US turning negative.

Textiles exports growth to the EU and 'Others', though low was positive, while growth of gems & jewellery exports to 'Others' was very robust at 66.2 per cent and was at 24.8 per cent to the EU market. In the case of chemicals and related products and leather and leather manufactures, India's export growth to the US was better than to other markets.

In the first half of 2009-10, India's export growth of all items to almost all three destinations was negative with global recession in full swing. Among manufactured goods, textiles export growth was comparatively less negative mainly to 'Others', whose share also rose.

India's gems & jewellery exports and chemicals & related products exports were more affected in the EU market, while the worst affected sector was engineering goods, especially in the US and EU markets with negative export growths of (-)49.7 per cent and (–)42.5 per cent, respectively. The performance of handicrafts (including carpets) exports which were badly affected even in 2008-09, worsened in all the three markets with a negative growth above 30 per cent in all of them.

In 2008, India had a global export share of 1 per cent or more in 42 out of a total of 99 commodities at two digit Harmonised System (HS) level, but a significant share of 5 per cent or more in eleven items. Three items, vegetable textile fibres n.e.s., paper yarn, woven fabric; vegetable plaiting materials, vegetable products, n.e.s.; and residues, wastes of food industry and animal fodder, had an increase in global share by 0.5 per cent point or more in 2008 over 2007.

Four items lost global shares which include carpets and other textiles floor coverings; other made textile articles, sets, worn clothing, etc; lac, gums, resins, vegetable saps and extracts, n.e.s.; and pearls, precious stones, metals, coins, etc. One item, namely silk had stagnant growth. In the remaining 31 items, 10 lost their shares in 2008 over 2007.

While India has diversified its export basket as well as export markets, a more systematic approach of diversification of dynamic products to developed countries and non-dynamic products to developing countries could pay better dividends.

Click here to view statistical table.

indiabudget.nic.in


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