India has registered the highest growth rate (in value) among the world’s top 70 economies in merchandise export during January-March 2010 by clocking a 13 per cent increase over the same period of 2009.
India received $50,342 million during the quarter, as against $44,417 million in the October-December quarter.
It surpassed countries like China, the US, Japan, France, the UK and Germany in the growth rate during the quarter, according to the World Trade Organisation (WTO) data.
The data for about 70 economies representing about 90 per cent of world trade showed that merchandise trade declined in January and February 2010, then rose sharply in March. This trend was also seen in India. In March, exports rose to $19,908 million, as against $16,091 million in February and $14,343 million in January, the WTO data showed.
"We are seeing a revival in exports from the beginning of this year. Usually, the October-December quarter is very busy with Christmas and New Year shipments, but it was surprising that the March quarter was better this time," according to an official of a leading CHA. In imports, the value saw a three per cent increase during the quarter as compared with the earlier quarter.
The value of world merchandise trade was around 25 per cent higher in the first three months of 2010 compared with the same period of 2009, the data showed. Global exports rose by 27 per cent, while imports rose at 24 per cent, the report elaborates.
The value of world merchandise exports fell by 23 per cent to $12.15 trillion in 2009, while world commercial services exports declined by 13 per cent to $ 3.31 trillion. This marked the first time since 1983 that trade in commercial services declined year-on-year, the WTO said.
Source: Exim News Service, Mumbai, 08 June 2010