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The Dollar Business Bureau India’s exports witnessed a growth of 9% in January this year, supported by a positive growth in the outbound shipments of petroleum, chemicals and engineering goods, even as the trade deficit shot up to a three-year high. The trade deficit widened to $16.3 billion in January due to 26.1% growth in imports on account of increased inbound shipments of crude oil, according to the data released by the Ministry of Commerce. The trade deficit, gap between imports over exports, had reached $16.86 billion in the month of November 2014. In January 2017, the country’s trade deficit was $9.9 billion. “Exports during January 2018 have exhibited positive growth of 9.07% in dollar terms vis-à-vis January 2017. Exports have been on a ...

The Dollar Business Bureau  India’s exports grew by 8.32% to $24 billion in May, registering an upward growth in the last eight months. However, the trade deficit also surged to $13.84 billion a 30-month high, majorly on account of higher gold imports.  The exports growth during the month is mainly propelled by strong performance from marine products (44.58%), rice (27.08%), petroleum products (24.92%), organic & inorganic chemicals (15.34%), electronic goods (8.57%), engineering goods (8.25%), RMG of all textiles (8.06%) and gems & jewellery (6%).  In May 2016, the country’s exports were $22.1 billion, according to the Ministry of Commerce data.  The cumulative value of exports for the period April-May 2017-18 was $48.6 billion witnessing a growth of 13.83% compared to $42.7 billion over the same ...

The Dollar Business Bureau The EU was the largest destination of exports for Philippines in March this year. The latest statistics by Philippine Statistics Authority (PSA) revealed that exports to European Union member countries, with 16.2% share to total merchandise exports amounted to $901.24 million.  It rose by 56.2% from $577.04 million recorded in March 2016. What was even more interesting was that the export numbers of Philippines to EU for that month overtook those of US which was $809.93 million and Japan $762.43 million. Several factors contributed to the increase in trade numbers. A strong EU economy and its rising demand saw an increase of 1.9%, a rise in the agri-food sector exports backed by the EU’s Generalised Scheme of Preferences (GSP) that allows ...

The Dollar Business Bureau Hong Kong is eager to import consumer electronic components from India and intends to set up assembly plants in India once the deal gets through. This could be a real deal-clincher since Hong Kong is the world’s eighth largest trading economy. Terming the deal as a win-win one for both the countries, the Hong Kong spokesperson said that its Govt, is looking forward to the signing of the Double Taxation Agreement and the Investment Protection Treaty to finalize it. On the bilateral trade front, the country sees a growth in exports from India but imports could stay flat. Speaking to the Indian media, Raymond Yip,  Hong Kong Trade Development Council (HKTDC) Deputy Executive Director said, “because we are the largest exporter ...

Sharath Chowdary New innovation and latest technology is driving the growth of LG Electronics in India. Innovative product range has helped the company to achieve 26% growth in H1 (January-June) of 2016 when compared to the corresponding period last year, the company’s Director-Sales for South & West Sanjeev Agarwal told The Dollar Business Bureau. “With the recent launches, we are expecting more than 32% growth in H2 of 2016. Consumers will spend more money to buy electronic goods due to the 7th Pay Commission and good monsoon in the coming festive season during September-November,” he said at LG Tech Show 2016 held for the first time in Hyderabad last week-end. To cater the festive demand in the country, LG has introduced 20 different models in TV (32”-98” ...

Source: PTI    Wenzhou, one of the richest Chinese cities, has launched the India China Economic and Cultural Centre (ICECC) to promote investments in India. Over 120 leading entrepreneurs from Wenzhou who are looking at investing in India attended the ceremony held by the municipal government. A total of 10 MoUs were signed between leading companies from Wenzhou and their Indian counterparts to promote trade, investments and cultural cooperation with India in 2016, Indian Consulate General in Shanghai Prakash Gupta said. It was also decided that under the aegis of the ICECC, which will be exclusively channelising all Wenzhou’s activities towards India, an ‘India Culture Week’ would be organised in mid June 2016 in Wenzhou, during which an Indian food festival, ...

Himanshu Vatsa | The Dollar Business India’s exports reduced to $22.3 billion in May this year, registering a steep fall of 20.19% from the same month a year ago. According to the Commerce Ministry data released today, the total merchandise exports in the first two months of the current fiscal was worth $44.4 billion, down 17.21% from $53.6 billion registered during the same period last year. The country’s exports have been witnessing negative growth since past six months. In March 2014, the exports saw 21% fall, steepest in the last six years. Falling exports has become a major concern for Indian exporters and policy makers. Experts say that downward prices of crude oil and major commodities in the international ...