India’s merchandise exports to rise by 7% to $82 billion in Q3: Exim Bank

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New Delhi | Published: December 13, 2018 10:38:21 PM

The Export-Import (Exim) Bank has said India's merchandise shipments is expected to rise by 7 per cent to USD 82.39 billion during the third quarter this fiscal.

merchandise exports, Exim Bank, Export Leading Index, Export Leading Index The forecasts, Exim Bank said, are based on its Export Leading Index (ELI), which continued to show a positive growth momentum. (Reuters)

The Export-Import (Exim) Bank has said India’s merchandise shipments is expected to rise by 7 per cent to USD 82.39 billion during the third quarter this fiscal. Non-oil exports are projected to be increase by 7.2 per cent to USD 71.45 billion. Exim Bank forecasts India’s merchandise exports to witness a growth rate of 7 per cent, increasing from USD 77 billion to USD 82.39 billion, and non-oil exports to see a growth rate of 7.2 per cent, increasing from USD 66.65 billion to USD 71.45 billion, during the third quarter of 2018-19, it said in a release.

The forecasts, Exim Bank said, are based on its Export Leading Index (ELI), which continued to show a positive growth momentum. Exim Bank said it has developed an in-house model to generate an Export Leading Index (ELI) for India to track and forecast the movement in India’s exports on a quarterly basis. The next growth forecasts for India’s exports for the quarter January-March 2019 will be released during the first week of March 2019.

Also read| India’s merchandise exports to rise by 7% to $82 billion in Q3: Exim Bank

ELI gauges outlook for the country’s exports and is essentially developed as a leading indicator to forecast growth in total merchandise and non-oil exports of the country on a quarterly basis. It is based on several external and domestic factors that could impact exports of the country, Exim Bank said.

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