Exports in first half of the fiscal rose 12.5%: Commerce Ministry
Mid-year assessment of the first six months of this financial year shows that exports are growing in a healthy manner to build on the export growth seen in 2016-17 and 2017-18.
In the first six months ( April-September 2018 ), merchandise exports exhibited a positive growth of 19.93 per cent in Rupee terms and 12.54 per cent in US$ terms over same period last year.
Exports of Non-petroleum and Non Gems and Jewellery during April-September 2018 exhibited a positive growth of 17.51 per cent in Rupee terms and 10.32 per cent in US$ terms over same period last year. Thus the growth is robust and not confined to petroleum products alone.
Merchandise Exports in September 2018 exhibited a positive growth of 9.65 per cent in Rupee terms. In dollar terms there was a marginal negative growth in merchandise exports of 2.15 per cent in September 2018.
This decline is entirely due to the base effect resulting from September 2017 being an abnormally high growth month of about 26% in dollar terms due to the imminent cut off then for drawbacks at pre-GST rates. This is a temporary out of trend phenomenon.
Commenting on the fall in good exports, the Commerce Ministry said: “Exporters continue to be resurgent, with their realised incomes having gone up by almost 10%. October 2018 figures promise to be as per the on-going six-month trend again.” Goods exports in the first half of the fiscal rose 12.5%; even outbound shipments excluding petroleum and gems and jewellery products gained 10.3%. Thus, the growth is robust and not confined to petroleum products alone.
Source :- Dailyshippingtimes.com