After 13-month dip, exports rise | business | Hindustan Times
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After 13-month dip, exports rise

The country's exports grew 18.2 per cent in November, entering positive territory for the first time in 13 months triggering hopes that the worst might be over for embattled traders.

business Updated: Jan 01, 2010 23:07 IST
HT Correspondent

The country's exports grew 18.2 per cent in November, entering positive territory for the first time in 13 months triggering hopes that the worst might be over for embattled traders.

Overseas shipments touched $13.19 billion during the month compared to $11.16 billion clocked during the same month of the previous year, latest trade data released on Friday showed.

Export of apparel and garments, the worst hit sectors in wake of the global downturn, grew by 6 per cent as buying firmed up in US and Europe-- two of India's biggest overseas markets, during the Christmas season.

A slew of recent data releases have confirmed signs of recovery in the broader economy and has raised hopes of a return to the heady days of 8 per cent plus growth.

During April-November this fiscal, merchandise consignments dropped by 22.3 per cent to $104.24 billion compared to $134.2 billion in the same period of 2008-09.

The trade deficit for November narrowed to $9.69 billion against $12.32 billion in November 2008.