India’s cumulative exports have shrunk by 15.85% in the financial year 2015-16.
The cumulative value of exports for April-March 2015-16 was US$ 261136.80 million, which is a negative growth of whopping 15.85 % in dollar terms over the same period last year.
The export during March 2016 was valued at US$ 22718.69 million, which was 5.47% lower in dollar terms than level of US$ 24032.55 million during Mar 2015.
The cumulative imports value for period April-March 2015-16 was US$ 379596.17 million, again a negative growth of 15.28% in dollar terms over the same period last year.
The imports during March 2016 was valued at US$ 27789.56 million’, 21.56 % lower in dollar terms over level of imports valued in March, 2015.
This came after India’s exports in February dipped 5.66 % to $ 20.73 billion.
Provisional data released by the Ministry of Commerce and Industry had shown that the gold imports too declined almost 29.5% to $1.39 billion in February after an in 85% crease in January this year.
Significantly, the decline in exports was registered for the 15th consecutive month in February.
Meanwhile, the Wholesale Price Index-based inflation rate in March was marginally higher at (-)0.91 per cent in February. In March last year, it was (-)2.33 per cent.
This is the 17th straight month since November 2014 when deflationary pressure persisted.
Food inflation stood at 3.73 per cent in March compared with 3.35 per cent in February, showed official data released today.