Exports record 13.8% fall in September; imports decline 31 pc

Exports in September were valued at US13.6 billion, against US$15.78 billion during the same month last year, according to the official foreign trade data released today.

During the said period, imports continued to fall, declining  sharply by 31.3 per cent, mainly on account of a significant dip in crude oil prices to US$ 76 per barrel from a peak of US$ 147 per barrel last year.

Imports were pegged at US$21.3 billion during the month, down from US$31.13 billion in September 2008. As a result, the country’s trade gap narrowed to US$7.7 billion during the month from US$15.3 billion in September 2008.

In the first half of the current fiscal, exports have fallen 28.5 per cent to US$77.9 billion from US$108.9 billion in the same period last year. In 2008-09 India clocked exports of US$185.1 billion.

Incidentally, Union Commerce and Industry Minister Anand Sharma had recently said that there has been a visible improvement in exports from the continued steep fall since April.
“There are discernible signs that the dark clouds are parting over Europe and the US. Some sun rays are peering through,” Sharma said.