Indian Exports Reports Decline by 13.8% in September – Indian exports reports decline by 13.8% in the month of September, end of second quarter to $13.6 billion. It stayed downhill for 12 months in a row, though the damage to exports brings down by recession in big markets appears to be penetrating out.
Last year, due to peak fall in crude oil prices from $147 per barrel to $76, it has affected country’s imports also. The Indian imports have a downfall by a drastic 31.3% this year in month of September to $21.3 billion.
As an outcome, according to the official data released today, the India’s trade gap has been narrowed to $7.7 billion against $15.3 billion in the same month in 2008.
In the current year 2009, for the April-August period, the overseas shipments have also been shown downfall by 28.5% to $77.9 billion from $108.9 billion in the same period last fiscal.
Though, the drop in September shrank by about 6% as compared with 19.4% in the August month. For the year 2008-09, the exports endure revised to $185 billion.
As per the reports, Indian exports have started going down from October last year, a month after the global economic situation declined following the collapse of Lehman Brothers.
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