Review of Indian Economy & Markets - week ended 19th September 2015
As per the figures released by the Ministry of Commerce and Industry, India’s merchandise exports registered a decline of 20.66% in Dollar terms (decline of 15.22% in Rupee terms) during August 2015 compared to August 2014. Exports for the period April – August 2015 declined by 16.17% (10.94% in Rupee terms compared to the same period last year. Global economic slowdown is a major cause for this decline. Merchandise exports contribute to around 15% of country’s GDP. Compared to August 2014, exports of Rice (-21.26%, other cereals (-40.10%), Iron Ore (-29.75%), Engineering Goods (-24.23%), Petroleum products (-44.30%) contributed to the negative growth in merchandise exports in August 2015 while Pharmaceuticals (13.33%), Jute Products (57.07%), Handicrafts & handmade carpets (54.46%) and Tea (10.68%) registered a growth. Imports also registered a decline of 9.95% at USD 33.74 Billion in August 2015 compared to August 2014. The decline in Rupee terms is around 3.77%. The imports ...