INDIA’S EXPORTS REGISTER IMPRESSIVE GROWTH ACROSS ALL REGIONS
EXPORTS TO CHINA INCREASE BY 106%
EXPORTS UP BY 19.18% IN 2002-03 – SUMMARY OF DISAGGREGATED EXPORT DATA
Date : 17 Jul 2003
Location : New Delhi
India’s exports of merchandise goods have registered an impressive growth of 19.18% as against the target of 12% during April-March 2002-2003. As per the latest provisional disaggregated data from DGCI & S, India’s exports touched US $ 52.2 billion (US $ 52234.40 million) as compared to US $ 43.8 billion (US $ 43826.72 million) during April-March 2001-02. In rupee terms, India’s exports during 2002-03 are estimated at Rs. 252789.97 crore as against Rs. 209017.97 crore, indicating a growth of 20.94%.
This growth of exports has been registered across all the regions including America, West Europe and Asia & Oceania.
India’s exports to China have crossed US $ 1 billion mark and almost touched US $ 2 billion with a record growth of 106.01% at US $ 1961.11 million in 2002-03, up from US $ 951.95 million in 2001-02. Exports to USA have also shown a substantial increase of over 27% with exports crossing US $ 10 billion mark during 2002-03. Exports to Japan grew by nearly 23%; Republic of Korea by 36%; Thailand by over 12%; Singapore by over 46%; Indonesia by 54.75%; and Australia by over 20% in dollar terms.
India’s exports to Pakistan also grew by 42.92% at US $ 205.81 million during 2002-03. Among the other neighbouring countries, exports to Sri Lanka in dollar terms went up by 45%; to Nepal by 38%; and to Bangladesh by 9% during 2002-03 compared to the previous year.
Exports to the America region increased by 24.69% at US $ 12894.33 million. Exports to Latin America went up by 34%, while exports to Asia & Oceania region grew by 42.85% at US $ 22382.78 million during 2002-03. Exports to West Europe region increased by over 23% whereas imports from the same region grew by over 24%. Exports to East Europe as a whole grew by 15%, although exports to CIS and the Baltic states were down by 5% during 2002-03 in dollar terms.
India has achieved this export growth at a time when the world economy was sluggish and even many of the developed countries were finding it difficult to achieve growth in their exports. As per the WTO report for the calendar year 2002, India’s export growth rate is the second highest (next to China) among the 30 leading exporters and importers in world merchandise trade during 2002.