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Due to the slowdown last year, cumulative shipments during the April-February period declined by 11% to $153 billion
Expanding for the fourth straight month, exports surged by 34.8% in February to $16.09 billion against $11.94 billion in the year-ago period on the back of revival in Western economies.
Due to dismal performance up to November 2009, the cumulative shipments during the April-February period, however, declined by 11% to $153 billion from $172 billion in the same period last fiscal, said RS Gujral, Director General of Foreign Trade.
Indicative of a revival in the economy, imports rose 66.1% to $25.06 billion in February against $15.08 billion in the corresponding month last fiscal. “It shows that the economy is picking up,” said commerce and industry minister Anand Sharma.
As in the case of exports, for the cumulative April- February period, imports showed a decline of 13.5% to $248 billion compared to $287 billion in the first 11 months of the last fiscal.
Sectors like engineering goods, textiles, jute, carpets, handicrafts and leather continued to display poor performance.
After falling for 13 months in a row since October 2008, exports re-entered the positive zone in November 2009.