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2011-06-10

Export soars to all time high

Nation's exports have registered a growth of 56.9 percent during May, which is all time high at USD 25.9 billion.

Export soars to all time high

Nation's exports have registered a growth of 56.9 percent during May, which is all time high at USD 25.9 billion.

Rahul Khullar informed the media that the country’s imports in May 2011 were USD 40.9 billion. He further clarified that the import figures are only the rough estimates and the final figure is subject to change. Balance of trade for the month of May 2011 stood at – USD 15 billion.

On the export growth, Khullar expressed happiness over the export performance, which is all time high at the same time he was concerned about the surge in imports.

During April-May 2011, the following sectors have done well viz., engineering, 115 percent (USD 14.7 billion); Gems & Jewellery 23 percent (USD 5.7 billion); petroleum & oil products, 64 percent (USD 8.8 billion); cotton yarn & made-ups, 10.4 percent (USD 1.04 billion); electronics, 80 percent (USD 1.83 billion) and Marine products, 15.8 percent (USD 0.4 billion).

Interacting with the media persons, Khullar stated that exports of iron ore, Fruits & vegetables and tobacco are on the negative growth because of ban on exports on these sectors.

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