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Saturday, August 7, 1999

India's export growth highest in Asia

PRESS TRUST OF INDIA  
NEW DELHI, AUG 6: India's exports growth between February and April this year was the highest in Asia at 5.8 per cent, a review of foreign trade trends has said. The country's imports during the period slid by a similar margin, the Far Eastern Review said in its review.

India's export growth was better to exports compared to Malaysia, which registered a 3.7 per cent growth, during the same period. During February-April India's exports were worth $ 8.9 billion, while Malaysia's totalled $ 19.4 billion.

Singapore exports at $ 26.1 billion during the same period was nearly 10 per cent lower and that of Australia's slid by 99 per cent at $ 13 billion. The review showed Philippines topping the export growth in Asia for the March-May period. It registered a 15.2 per cent growth during the period.

During the March-May period, China's exports at $ 45.2 billion was lower by 2.3 per cent, Japan's at $ 98.8 billion was higher by 1.7 per cent. Exports from Hong Kong, which is under Chinese administration, at $ 40billion was lower by 7.6 per cent for the March-May period, while South Korea and Indonesia's shipment were lower by 1.3 per cent and 2.2 per cent respectively.

Taiwan's exports during March-May was up by four per cent at $ 30.2 billion, while that of Thailand at $ 13.6 billion was lower by 2.2 per cent. New Zealand registered a 2.4 per cent growth in exports with shipments to the tune of $ 3.3 billion.

India's exports have witnessed a turnaround since November last and for two consecutive months in May and June registered a double digit growth. An official release, while put out the review, said as per provisional figures, the country's exports growth during the first quarter of the fiscal was 6.50 per cent. India's total shipments during the period was worth $ 7.9 billion, it said.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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