World Economy

India Exports Decline

India Exports DeclineIndia Exports Decline

Indian exports for 2014-15 fell short of the annual target by 11.52% as overseas shipments during March fell by as much as 21.06%, Business Today reported. Official figures released on Friday showed annual exports at $310.5b missing the target of $340b fixed for the financial year ended March 31, 2015. Compared to previous fiscal, exports are also down by a marginal 1.23%. Imports too dipped by 0.59% to $447.5b in 2014-15, leaving a trade deficit of $137 billion during the fiscal. The country’s trade deficit in March was the highest in four months, at $11.79b, as exports fell to $23.95b although imports also contracted by 13.44% to $35.74b due to the decline in oil prices.