Exports fall 4.7% in 2009-10 .

India's merchandise exports recorded a decline of 4.7 per cent in 2009-10 fiscal against a growth of 13.7 per cent in the previous year.

Exports, which were at $185.3 billion in 2008-09, came down to $176.6 billion in 2009-10, according to the monthly bulletin released by the Reserve Bank of India on Friday.

The imports also fell by 8.2 per cent to $278.7 billion from the previous year's $303.76 billion. In 2008-09, the imports had posted a growth of 20.8 per cent over the year before.

During the year under review, the import of petroleum, oil and lubricants (POL) at $85.5 billion showed a decline of 8.7 per cent, as against a growth of 17.6 per cent in 2008-09. This was primarily due to a reduction in international crude oil prices over the period.

The trade deficit in 2009-10 amounted to $102.1 billion, thereby posting a decline of $16.3 billion (13.8 per cent) over $118.4 billion in the previous year, which was primarily due to the decline both in oil and non-oil imports.


Source : Business Line