Exports to W Europe, Canada US, Russia slip to minus 2.8pc

S Venkitachalam

New Delhi, Dec 6: The on-going global slowdown has severely impacted the country’s exports with the entire 12-member European common market (ECM) countries (Western Europe) as well as the US, Canada and Russia buying less goods from the country during April-August 01 than they did in the same period last year, resulting in a negative 2.81 per cent growth. But exports to the 13-member ESCAP countries (barring three or four), Africa and Latin America, have gone up during this period, according to the foreign trade data available with the commerce ministry.

Going by the data, exports to the ECM countries are valued at $4223.41 million, 10.84 per cent down from the $4736.77 million during April-August 00. ECM is one of the country’s major trading partners.

The European common marke-country-wise analysis shows that exports to Belgium declined by 12.96 per cent from $592.77 million to $515.98 million, to France by 3.44 per cent from $403.79 million to $389.89 million, to Germany by 11.61 per cent from $807.47 million to $713.71 million, to Italy by 8.39 per cent from $545.39 million to $499.4 million and to the United Kingdom by 8.56 per cent from $972.75 million to $889.53 million.

Exports to another major trading partner, the US, were down by 15.43 per cent from $4016.02 million to $3396.42 million. Russia’s offtake at $383.14 million was 16.09 per cent lower than the previous corresponding period’s $320.65 million.

On the other hand, exports to South America were up by 6.39 per cent from $228.13 million to 242.70 million, to CIS countries other than Russia by 10.10 per cent from $57.95 million to $63.80 million.
The ESCAP member-countries, including Pakistan, bought goods valued at $4463.95 million against $4237.60 million, an increase of just 5.34 per cent.

United Arab Emirates among the Middle-East countries lifted goods worth $1022.17 million against $971.40 million, showing an increase of 5.23 per cent.

However, the other two countries in the region bought less, with Saudi Arabia’s offtake estimated at $315.08 million and that of Israel at $315.08 million, resulting in a negative growth of 12.58 per cent and 25.97 per cent, respectively.