India's exports declined 14.8% in July.

[Roll in deep]

NEW DELHI: India's exports declined by 14.8 per cent year-on-year to USD 22.4 billion in July this year due to the global demand slowdown.

In July 2011, the country's shipment stood at USD 26.3 billion.

Imports too contracted during the month by 7.61 per cent to USD 37.9 billion, leaving a trade deficit of USD 15.5 billion, DGFT Anup Pujari told reports here.

During the April-July period of 2012-13, exports have shrunk by 5.06 per cent to USD 80.4 billion. Imports during the period dipped by 6.47 per cent to USD 153.2 billion.

"Last month, exports have decreased more than imports. This is the highest fall this fiscal," Pujari said.

Exports dip 14.8% to $22.4 bn in July - The Times of India

 

[IndoCarib]

You are in for a infraction from the mods. Already posted in the Indian economy section

 

[Fanling Monk]

I think China's exports also decline about 1%(?) in the month of July. With the situations in Europe are far from improving and no one is picking up, I think the worst has yet to come. Let's hope this worldwide stagnation is limited to a year or two, anything longer will be catastrophe for many debt laden countries.

For the meantime, of course, the key is Europe.

 

[Abingdonboy]

Exports had grown for much of Q1 2012 to be fair and it is the Eurozone crisis that is hurting the rest of the world- no one is immune.

 

[janon]

I think China's exports also decline about 1%(?) in the month of July. With the situations in Europe are far from improving and no one is picking up, I think the worst has yet to come. Let's hope this worldwide stagnation is limited to a year or two, anything longer will be catastrophe for many debt laden countries.

For the meantime, of course, the key is Europe.

For India, I would say the key is India. Our economy is not so dependent on exports as China's is. Most of our manufacture (in every sector) is for internal, domestic consumption. The Chinese economy on the other hand will be hit by falling exports, since exports account for a big portion of your GDP.

For India, the far bigger worry is the inflation, slowdown in growth, slowdown in FDI inflows and the manufacturing bottlenecks due to power shortages. Unless we get our act together and ramp up our infrastructure in power, transportation, manufacturing etc, we may not be able to achieve the high growth rates we saw over the past decade.

 

[cirr]

I think China's exports also decline about 1%(?) in the month of July. With the situations in Europe are far from improving and no one is picking up, I think the worst has yet to come. Let's hope this worldwide stagnation is limited to a year or two, anything longer will be catastrophe for many debt laden countries.

For the meantime, of course, the key is Europe.

Wrong。China's July exports were up 1% year-on-year，resulting in a trade surplus of 25.15 billion US dollars。

For the 7 months to July，total exports were up 7.8% year-on-year，with a trade surplus of 94.11 billion US dollars。

 

[cirr]

For India, I would say the key is India. Our economy is not so dependent on exports as China's is. Most of our manufacture (in every sector) is for internal, domestic consumption. The Chinese economy on the other hand will be hit by falling exports, since exports account for a big portion of your GDP.

For India, the far bigger worry is the inflation, slowdown in growth, slowdown in FDI inflows and the manufacturing bottlenecks due to power shortages. Unless we get our act together and ramp up our infrastructure in power, transportation, manufacturing etc, we may not be able to achieve the high growth rates we saw over the past decade.

Not really。

China may export quite a bit，but it also imports a lot。The net effect is some 150 billion US dollars in trade surplus which accounts for a tiny portion of China's 8 trillion dollar economy。India on the other hand has a much smaller economy at some 1.6 trillion dollars and an annual trade defict that is higher than China's correspondent surplus。Percentage wise，external trade plays a far more important role in India than in China。