Indias export to grow at 5.96% in Jan-Mar 2018: Exim Bank
The Dollar Business Bureau India’s exports of goods are likely to grow at the rate of 5.96% during the January to March quarter of the current fiscal, according to the Export-Import Bank of India (Exim Bank). “India’s merchandise exports to witness a growth rate of 5.96% during the fourth quarter of 2017-18 (January-March 2018), over the corresponding quarter of the previous year,” the EXIM Bank said in a release on Thursday. The forecast is based on the Export Leading Index (ELI) model of the bank, it said. Exim Bank has created an in-house model to generate ELI for India in order to track and forecast the movement in the country’s exports on quarterly basis. The ELI measures the exports outlook and is basically developed ...
All India Rice Exporters Association seeks PMs intervention to revoke EU ban on basmati rice
The Dollar Business Bureau India’s widely appreciated basmati rice may face the closed doors of the EU due to the new regulations that EU has imposed on chemical residues, The All India Rice Exporters Association (AIREA) said on Wednesday. A fungicide named tricyclazole which many farmers use to prevent leaf and neck blast in basmati paddy varieties was banned by EU. For sometime EU had allowed a maximum residue limit (MRL) of 1ppm (parts per million) on the basmati rice that was exported to EU. However, it has issued a notification that residues above 0.01 ppm will not be allowed in the basmati imports after Dec 31, 2017. Speaking to the media, AIREA President, Vijay Setia said it would not only impact their ...
Malaysia records highest exports at RM82.63 billion in March 2017
The Dollar Business Bureau Buoyed by improved performance in all major export sectors, Malaysia’s exports grew 24.1% year on year during March 2017. Beating expectations, the South-East Asian economy boasted a double-digit growth in exports for the fourth consecutive month since December 2016. As stated by the Ministry of International Trade and Industry, Malaysia (Miti), exports surpassed economic forecasts of a 20% growth by a significant margin. Explaining the ‘outstanding trade performance in March 2017’, a media release by Miti read, “Malaysia’s trade continued its strong momentum in March 2017, expanding by 31.1% to RM159.86 billion compared with the year before. Higher trade was seen with ASEAN, China, the United States of America (USA), the European Union (EU), the Republic of Korea (ROK) ...
Indias exports fall 6.8%, imports down 19% in July
The Dollar Business Bureau India’s merchandise exports (including re-exports) have declined 6.84% at $21.7 billion during July, 2016 when compared to $23.3 billion in the same month last year. The cumulative exports for the first quarter (Q1) of FY 2017 have come down 3.62% at $87 billion against $90 billion over corresponding period last fiscal year. The country’s imports have contracted 19% during July 2016 at $29.4 billion when compared to $36.4 billion in same month previous year. The overall value of imports has shrunk 16.3% at $114 billion in Q1 of FY 2017 against $136 billion during the corresponding period previous fiscal, as per the Commerce Ministry’s foreign trade data released on Friday. The negative growth in exports is in-line with other major economies ...
