Exports decline in August in 23 key sectors
Q. Exports is not in healthy margin with how many key sectors including petroleum, engineering and leather declining in August to ______ sectors?- Published on 26 Sep 15a. 22
b. 23
c. 24
d. 25
ANSWER: 23
As many as 23 key sectors of export declined in August on account of demand downturn and falling global prices. 23 of 30 sectors monitored by Commerce Ministry were in negative zone in March. FIEO sought immediate intervention of government to stop the slide. India's exports declined 20.66 percent in August to USD 21.26 billion, increasing the trade deficit to USD 12.47 billion. Two top sectors engineering and petrol products contracted by 29 and 47.88 percent while textile exports shrank by 7.32 percent to USD 1.28 billion in August 2015. These 3 sectors constituted 47% of the total exports of the country in the previous fiscal. 11 of 13 key agricultural products fell into negative zone too. Exports of rice, spices and tobacco fell 26.32 percent to USD 443 million, 8.7 percent to USD 209 million and 15.25 percent to USD 62 million and negative growth was observed in cereals (43.94 percent), cashew (7.75 percent), oil meals (19.5 percent), carpet (22 percent), leather (12.78 percent), iron ore (34.28 percent) and chemicals (5 percent). This pushed down overall merchandise export and India aims for USD 900 billion exports in 2202 and 3.5% share in world’s total exports. Previous 4 years have seen exports hovering at USD 300 billion.
