The Hindu Business Line : Exports decline 11 pc in November

THE country's exports slipped in November 2005 to $ 6.163 billion, a 11.4 per cent decline compared to $ 6.956 billion recorded in the same month last year.

In rupee terms, exports during November 2005 stood at Rs 28,185.45 crore, which is 10.2 per cent lower than theexports recorded during November 2004. The fall in exports during November may hinder the country's attempts to clock exports of $ 100 billion this year, say trade experts.

However, during April-November 2005, exports recorded a 16.07 per cent increase to touch $57.06 billion ($ 49.16 billion). In rupee terms, exports during April-November 2005 stood at Rs 2,51,173.34 crore, which is 12.25 per cent higher than the export performance registered during the corresponding period last year.

Trade deficit for April-November 2005 is estimated at $27.64 billion, which is substantially higher than the $16.34 billion recorded in the same period last year.

An official release said that the slippage in export performance in November could be attributed to sectoral factors — shortfalls were primarily in engineering goods, textiles, clothing, and gems and jewellery.

Further, the value realisation for primary steel products was adversely affected due to a fall in international prices of primary steel products.

According to exporters of engineering goods, exports were also negatively impacted by service tax, fringe benefit tax etc.

In textile and clothing, manmade fibre exports were affected by the uncompetitive and high prices of raw material, while in gems and jewellery tightening of round tripping is reflected in the data, the release added.

Imports during April-November 2005 stood at $84.7 billion, 29.31 per cent higher than $65.5 billion recorded in April-November 2004.

Oil imports during April-November 2005 stood at $27.76 billion, 43.46 per cent higher than the $19.35 billion recorded in the same period last year.

Non-oil imports during April-November 2005 were estimated at $56.94 billion, which is 23.38 per cent higher than the $46.15 billion recorded in April-November 2004.

Imports during November 2005 stood at $9.91 billion, 8.66 per cent higher than the $9.12 billion recorded in November 2004.