Indian exports and imports are feeling the pressure. Exports from India declined by 33% in March 2009 to $11.5 billion against $17.2 billion from the same month last year, imports dipped 34% to $15.5 billion from $23.6 billion according to the Times of India.
With external shipments contracting for six months in a row, the country’s exports aggregated $168.7 billion in 2008-09, growing marginally by 3.4% over 2007-08. Imports, which have been falling for last three months, recorded a growth of 14.3% in 2008-09 to $287.7 billion as against $251.6 billion in 2007-08.
Indian exporters and economists suggest it will take a few more months before the contraction bottoms out.
Tags: Indian Economy, Indian exports, Indian imports
May 27th, 2009 at 1:48 am
Yes, this trend had been predicted much before. I think this will remain so next two yrs as US and other countries are imposing many restrictions to import.