NEW DELHI: Exports have been falling since December 2014 due to weak global demand and slide in oil prices.
Oil imports in April dipped by 24.01 per cent to USD 5.6 billion. Non-oil imports too fell by 22.83 per cent to USD 19.75 billion.
In April, overseas shipments of petroleum products shrank 28.15 per cent to USD 1.97 billion, while that of engineering goods declined by 19 per cent to USD 4.76 billion. These two sectors contribute significant in the country’s total exports.
The other sectors which reported negative growth in the first month of the current fiscal includes carpet, leather, rice and cashew.
However, exports of tea, coffee, gems and jewellery and pharmaceuticals recorded positive growth.
For whole 2015-16 financial year ended March 31, exports declined by 15.8 per cent to five-year low of USD 261.13 billion due to fragile global demand and low commodity prices.
