Quick estimates made by the commerce department showed today, 8 April 2009 that exports fell by 18% in March 2009 to $12 billion. The unofficial quick estimates, however, are sometimes quite different from the revised estimates officially issued at the end of the month. With demand in key markets including the US, the EU and Japan slowing down, exports in most countries have been hit.
With exports recording a fall in March 2009 for the sixth time in a row, the aggregate export figure for the entire fiscal is, therefore, at $168.59 billion, falling short of lower range of the revised target of $170-175 billion set by the government. Commerce and industry minister Kamal Nath, who had initially fixed the export target for 2008-2009 at $200 billion, brought it down to $170 billion-$175 billion in the last quarter of the fiscal year.
India exported goods worth $162 billion in 2008-09 registering a healthy growth over the previous fiscal.
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