Exports to shrink in Q3, says Exim Bank

New Delhi, December 17

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Total merchandise exports in the third quarter will continue to be in negative territory, according to an assessment by the Export-Import Bank of India (Exim Bank).

Merchandise exports are projected at $77.6 billion in the third quarter of the current fiscal as compared to $79 billion in the corresponding quarter previous year on the back of steepest and continued contractions in India’s oil exports, witnessed since March 2020, said the peer-reviewed assessment.

The Exim Bank forecasts India’s non-oil exports for the third quarter at $68.3 bn, a marginal positive growth of 0.3%, over the corresponding quarter of the previous year, after three consecutive quarters of contraction.

The forecasts are based on Exim Bank’s Export Leading Index (ELI) Model. The next growth forecast for India’s exports for the quarter January-March 2020 would be released during the first week of March 2020. —TNS