Export Grows 32.5% at US $ 20.6 Billion in January 2011: Commerce Secretary

India’s exports have registered a growth of 32.5% during January 2011, at US $ 20.6 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-January 2010-11, exports have reached a level of US $ 184.6 billion at a growth of 29.4% while the imports were US $ 273.6 billion with a growth of 17.6% and a trade deficit of US $ 89 billion. During the interaction, Shri Khullar informed that India’s imports in January 2011 were US $ 28.6 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 January stood at – 8 billion US dollar.

On the export growth, Shri Khullar reiterated that “on the whole, the export performance is pretty good and it is expected to cross US $ 200 billion in February 2011and it will cross US $ 220 billion during this fiscal.”

During April-January 2011, the following sectors have done well viz., engineering, 70% ($ 45 billion); gems & jewellery, 9.3% (24.5billion); petroleum & oil products, 36% ($ 30 billion); cotton yarn & made-ups, 52% ($4.7 billion); electronics, 38% ($ 6.4 billion) and plastics & linoleum, 40% (3.7 billion).

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

As regards imports during April-January 2011, the growth estimates on the following sectors are – POL, 14% ($ 80 billion); pearls & precious stones, 63% ($ 20 billion); gold & silver, 9% ($ 24.5 billion); machinery, 31% (21.7 billion); and iron & steel, 32% ($ 8.9 billion).