>India’s exports grew by 10.1 percent in January 2012 from a year earlier, after increasing by 6.7 percent in the previous month

EXPORTS
India's exports grew by 10.1 percent YoY in January 2012 to USD25.35 billion despite weak demand in the Western markets. Exports had grown by 6.7 percent YoY in December 2011. In value terms, Exports increased to USD25.35 billion in January from USD25.02 billion in December 2011. Exports were USD23.02 billion in January last year. However, in INR terms, exports decreased to INR1,301,290 million against INR1,317,760 million in December 2011. Before showing the uptick, exports growth has slipped from a peak of 82 percent YoY in July 2011 to 44.3 percent YoY in August 2011, 36.4 percent YoY in September 2011, 10.8 percent YoY in October and 3.9 percent YoY in November 2011.


India's total exports for the first ten months (April-January) of FY2011-12 stood at USD242.79 billion (INR11,538,000 million) against USD196.63 billion (INR8,965,180 million) in the corresponding period of last year, registering a growth of 23.5 percent in USD term. During this period (from April to January FY2011-12), sectors such as engineering has done exceedingly well (USD49.7 billion) with growth of 21 percent over April – January of last year; followed by petroleum & oil products 50.1 percent YoY (USD48.9 billion); Gems & Jewellery 33 percent YoY (USD37 billion); Drugs and pharmaceuticals 21.1 percent YoY (USD10.20 billion).


IMPORTS
On the other hand, pushed by expensive crude oils and vegetable oils, India’s imports grew by 20.3 percent in January 2012 from a year earlier to USD40.11 billion against USD37.75 billion in the previous month. India’s Imports were USD33.35 billion in January last year. In INR terms, imports stood at INR2,059,110 million against INR1,988,730 million in the previous month. For the first ten months of FY2011-12, Imports totaled at USD391.46 billion compared with USD302.53 billion in the same period of previous year, resulting a growth of 29.4 percent. Sectors which reported healthy imports growth during April – January FY2011-12, include POL 38.8 percent YoY (USD117.9 billion) and gold and silver 46.6 percent YoY (USD50 billion).


To read full report: EXPORT-IMPORT
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