The United States, which is part of North America, and the United Kingdom, Belgium, Germany, Italy, and the Netherlands, which are part of Europe, are expected to record import growth of 11.4% and 8.4% year-on-year in 2021, respectively. Ind-Ra) states in the latest report.
Ind-Ra, India’s exports, which have been sluggish for quite some time, can take advantage of the favorable trade growth outlook for 2021 to further strengthen its position over what was seen in the first quarter of 2010. Said.
In terms of year-over-year growth, India’s exports increased by 60.29%, 195.72%, 69.35% and 48.35% in March, April, May and June 2021 respectively. “Undoubtedly, growth reflects the depth of last year’s COVID-19 shock, but I believe Ind-Ra also shows the strength of the current recovery, properly captured by monthly exports. “There is,” the report said.
Average monthly exports for the first quarter of 2010 surged to $ 31.80 billion. Export momentum began in March 2021 and monthly exports reached a record $ 34.45 billion. India’s average monthly export value in 2008 was $ 26.14 billion, almost the same as in 2014. It peaked at $ 27.54 billion in FY19. However, FY2010 started positively. Sustainable high monthly exports are even more noteworthy, as the country was also suffering from the devastating COVID 2.0.
The increase in exports in the first quarter of 2010 was mainly due to the increase in exports of petroleum products and commodities such as cotton yarn / fabric / makeup. Another labor-intensive and important export product, ready-made garment, had monthly exports of $ 1.1 billion in the first quarter of 2010, below the average monthly export value of $ 1.4 billion in 2016-20.
Fiber2Fashion News Desk (KD)
Ind-Ra expects commodity exports from India to increase 6.9% year-on-year in 2010 as the threat of COVID-19 is not over yet. Many depend on the pace and scope of immunity. Gloves. Several major export destinations of India’s top 10 major commodities are also expected to witness strong import growth in 2021.
Ind-Ra expects Indian commodity exports to increase 6.9% year-on-year in 2010
Source link Ind-Ra expects Indian commodity exports to increase 6.9% year-on-year in 2010