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G. Srinivasan

NEW DELHI, May 4

THE 19 per cent export growth achieved during the first ten months of the fiscal 2002-03 was led by salutary trends in the export of traditional items such as gems and jewellery, chemicals and related products, engineering goods and textiles, which together constitute 65 per cent of aggregate exports.

Disaggregated data on foreign trade compiled by the Economic Division of the Ministry of Commerce based on statistics of the DGCI&S, Kolkata, showed that export of gems and jewellery accounting for 16.6 per cent of the total exports notched up a growth of 22.43 per cent at $7,095.65 million during April-January 2002-03 compared to $5,795.80 million in the corresponding months of 2001-02.

Engineering goods (13.73 per cent weight) registered a growth of 24.56 per cent at $5,867.92 million as against $4,710.98 million. Export of textiles (20.54 per cent) grew by a relatively modest 9.04 per cent at $8,777.63 million as against $8,050.17 million.

A surprisingly satisfactory growth emerged from the agriculture and allied product exports, which with a weight of 8.54 per cent of the total exports clocked a robust 13.08 per cent growth at $3,649.59 million ($3,227.5 million).

On the minus side, leather and manufactures exports (3.52 per cent) notched up a negative 7.46 per cent growth at $1,506.08 million as against $1,627.47 million.

Overall, exports during the first ten months of the fiscal 2002-03 fetched $42,734.57 million, against $34,601.45 million in the comparable months of the previous fiscal, reflecting a relatively impressive growth of 18.67 per cent.

Destinationwise, exports to West Europe (weight 23.47 per cent) logged a reasonably satisfactory growth of 15.28 per cent during the period under review at $10,031.65 million, against $8,701.86 million in the previous fiscal.

This is stated to be a sound performance considering the fact that West Europe was emerging from a halting recovery in most of the period of last fiscal.

Exports to the Americas too (24.97 per cent) did exceedingly well by clocking up a growth of 28.04 per cent at $10,671.19 million as against $8,334.48 million.

The best export performance by India was to the Asia and Oceania region, which absorbs as much as 42.22 per cent of the country's aggregate exports.

This region exhibited an export growth of 31.42 per cent at $18,043.5 million as against $13,730.10 million.

Though Pakistan accounts for a meagre 0.43 per cent of India's exports, exports to Islamabad fetched $182.62 million during the period under review, against $119.32 million in the previous fiscal.

On the import front, bulk imports (39.02 per cent) logged a growth of 16.62 per cent at $19,456.42 million as against $16,683.46 million.

Machinery imports (9.17 per cent) grew by 29.01 per cent at $4,571.3 million compared to $3543.44 million.

Import of petroleum, crude and products (28.79 per cent) went up by 22.22 per cent at $14,356.26 million as against $11,746.41 million. Import of gold and silver (7.13 per cent) registered a negative growth of 16.44 per cent at $3555.18 million as against $4254.44 million.

Overall, imports during the first 10 months of the fiscal 2002-03 amounted to $49,860.28 million, against $42,718.04 million, a growth of 16.72 per cent. Destination-wise, India's imports from West Europe (24.69 per cent) recorded a growth of 9.61 per cent at $12,309.37 million, against $11,229.77 million in the corresponding months of the previous fiscal.

Import from Asia and Oceania region too (28.87 per cent) registered a growth of 13.19 per cent at $14,396.94 million as against $12,718.96 million.

Import from the Americas (9.66 per cent) logged a hefty 22.16 per cent at $4,818.31 million during the period under review, against $3,944.22 million in the comparable months of 2001-02.

Though Africa accounts for 5.76 per cent of India's imports, there was a substantial growth from this continent of 29.21 per cent growth at $2,870.92 million compared to $2,221.97 million.

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