Exports up 9.3%, imports turn positive after 11 months

The country’s exports grew 9.3 per cent in December, recording a positive growth for the second successive month after a 11-month-long contraction, triggering hopes that the worst might be over for embattled exporters.

The country’s exports grew 9.3 per cent in December, recording a positive growth for the second successive month after a 11-month-long contraction, triggering hopes that the worst might be over for embattled exporters.

HT Image

Imports too grew by a robust 27.2 per cent after contracting for 11 consecutive months, mirroring growth in domestic activity as companies start expanding on growing consumer demand.

Overseas shipments touched $14.6 billion during the month compared to $13.4 billion clocked during the same month of the previous year, latest trade data released by the government on Monday showed.

President of Federation of Indian Export Organisations A. Sakthivel said the growth in imports reflects the effect of double-digit growth in the manufacturing sector.