11 September, 2009

Exports may fall to $155 bn in 2009-10: FIEO

India's exports may fall to USD 150-155 billion in 2009-10 from USD 168 billion in the previous fiscal, President of Federation of Indian Export Organisations (FIEO) A Sakthivel said today.  

The country's exports contracted for the 11th straight month in August by 19.7 per cent, as demand for merchandise goods saw a sharp erosion in the developed countries which mainly feed India's external trade. The shipments in August were valued at USD 14.3 billion, down from USD 17.8 billion in the same month last year; the turnaround is expected from January onward.

For the April-August period, exports dropped by 31.3 per cent to USD 63.9 billion from USD 93.1 billion.