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G. Srinivasan

NEW DELHI, April 5

TRADITIONAL goods like textiles, gems and jewellery, chemicals and related products and engineering goods which constitute as much 65 per cent of the aggregate exports, were responsible for an accelerated 20 per cent export growth the country notched up during the first three quarters of the fiscal 2002-03.

The disaggregated trade data compiled by the Economic Division of the Ministry of Commerce based on provisional figures of the Directorate-General of Commercial Intelligence & Statistics (DGCI&S) show that gems and jewellery with a weight of 16.79 per cent in total exports logged a growth of 228.21 per cent at $6,387.67 million during April-December 2002, against $4,982.23 million in the corresponding three quarters of 2001. Chemicals and related products (14.38 per cent) registered a growth of 17.97 per cent at $5471.93 million ($4,638.32 million), while engineering goods (13.62 per cent) posted a growth of 25.14 per cent at $5,184.34 million ($4,142.86 million).

Textile items which suffered a jolt because of 9/11 terrorist attack in the US in the previous year, seemed to have recovered ground as such exports which account of a share of 21 per cent in aggregate exports posted a growth of 10.49 per cent during the period under review at $7,826.81 million ($7,083.77 million). Even agriculture and allied products exports did creditably well in a drought year as their exports registered a growth of 17.13 per cent even as they account for a tiny share of 3.05 per cent in overall exports at $1,162.12 million ($626.33 million) in the comparable.

Overall, exports during the period under review amounted to $38,050.37 million, against $31,743.33 million in the comparable period of 2001, registering a growth of 19.87 per cent.

Destination-wise, India's exports to Asia and Oceania, which account for a share of 42.19 per cent, registered a growth of 32.46 per cent at $16,055.01 million ($12,120.72 million). Exports to America (24.98 per cent) grew by 29.82 per cent $9,503.46 million ($7,320.40 million). Exports to West Europe (23.27 per cent) grew by 16.26 per cent at $8,853.60 million ($7,615.48 million). Exports to Africa (6.09 per cent) grew by 6.47 per cent during the period under review at $ 2,317.23 million ($2,176.47million).

On the import front, bulk imports with a weight of 38.93 per cent registered a growth of 13.18 per cent at $17,200.62 million ($15,197.92 million) during the period under review. There has been a 18.98 growth in the import of petroleum, crude and products (28.90 per cent) at $12,768.26 million ($10,731.24 million).

Machinery imports (9.06 per cent weight) notched up a growth rate of 26.50 per cent at $4,003.26 million ($3,164.75 million), while import of pearls, precious and semi-precious stones (10.19 per cent) posted a 40.21 per cent growth at $4,502.59 million ($3,211.30 million).

Import of gold and silver, which accounts for 7.74 per cent in total imports, nose-dived by registering a fall of 13.27 per cent at $3,420.16 million ($3,943.45 million) in the comparable months of 2001.

Overall, India's imports grew by 14.83 per cent during the first three quarters of 2002-03, at $44,178.55 million, against $38,473.91 million in the comparable months of 2001.

Destination-wise, India's imports from West Europe, which had a share of 24.87 per cent in the country's total imports, grew by 10.23 per cent during the period under review at $10,985.21 million ($9,966 million), while from Africa (5.94 per cent) it registered a robust 30.61 per cent growth at $2624.04 million ($2,009.13 million).

Import from Asia and Oceania (28.54 per cent) also notched up a growth of 10.41 per cent at $12,609.77 million ($11,420.42 million), while imports from the Americas (9.50 per cent) grew by 17.80 per cent at $4,198.66 million ($3,564.22 million).

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