As per the latest data released by the Commerce Ministry, exports during September this year reached a level of US$13.6 billion, which is 13.8 per cent lower than the level of US$15.8 billion in the same month last year. Correspondingly, during the first half of the current fiscal (April to September, 2009) exports recorded a level of US$77.9 billion as against US$108.9 billion registering a negative growth of 28.5 per cent over the same period last year.
Briefing reporters, Commerce Secretary Rahul Khullar said “Monthly export growth rate during the current year continues to be in negative territory. However, the intensity of the decline in exports from a level of negative 35.5 per cent in April this year to negative 13.8 per cent in September, 09 is encouraging.”
“There are positive indications of recovery of exports in coming months. It is difficult to predict a precise timeline for export growth to transit to a positive phase ,” he added.
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