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China among India's top five export destinations
By agencies
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Monday, 06 June 2005, 19:30 IST
NEW DELHI: China has emerged as one of the top five destinations of exports from India, according to the latest available disaggregated merchandise trade data for 2004-05.
The top five destinations of Indian exports sorted on the basis of the growth rates in dollar terms in 2004-05 over 2003-04 are: Singapore (78.63 percent), Peoples Republic of China (55.20 percent), United Arab Emirates (38.48 percent), U.S. (15.45 percent) and Hong Kong (11.94 percent), an official release said.
In terms of percentage share, U.S. tops with 16.74 percent share of India's exports, followed by UAE (8.96 percent), China (5.79 percent), Singapore (4.79 percent) and Hong Kong (4.61 percent).
In terms of value, India's exports to U.S. in 2004-05 were $13.1 billion followed by the UAE ($7 billion), China ($4.5 billion), it said.
The top commodities of India's exports on the basis of growth rates in 2004-05 include petroleum: crude and products (90.34 percent); gems & jewelry (29.62 percent); machinery and instruments (25.82 percent); and drugs, pharmaceuticals and fine chemicals (12.14 percent).
Region-wise export data from DGCI&S indicate a record growth in India's exports to all major destinations during 2004-05, barring CIS and the Baltic States.
Exports to West Europe increased by 19.72 percent during 2004-05 compared to 2003-04; East Europe by 46.47 percent; Asia and Oceania by 26.85 percent; Africa by 45.39 percent; America by 20.50 percent; and the Latin American countries by record 84.65 percent. India's total exports during 2004-05 recorded a growth of 24.13 percent over 2003-04, the release said.