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BUSINESS
FALL IN EXPORTS PROJECTED TO BE WORST SINCE 1952-53
January 2, 2016
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1.Merchandise exports this fiscal are projected to fall around (-) 16 per cent over the previous financial year.

2.This will be the second worst export performance since independence, according to official data.

3.Only in 1952-53, exports had fared worse when it shrank (-) 18.7 per cent. In the 68 years since independence, the country’s exports have been in the negative growth territory only on 14 other occasions.

4.Shipments during April-November this fiscal had shrunk (-) 18.46 per cent to $174.3 billion from $213.8 billion during the same period in 2014-15. So officials are expecting a minor recovery in the last four months of this financial year that will in turn help reduce the contraction to (-) 16 per cent for 2015-16.

5.In value terms, exports – with a (-) 16 per cent contraction — will end this fiscal at around $260 billion, the lowest since the shipments broke the $300 billion-mark for the first time — in 2011-12 with $305.96 billion.