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Export growth to surge to 7% in Oct-Dec after slump in Nov: Exim Bank

The country's exports growth slid sharply to 0.8% in Nov from Oct's 17.86% growth in what was attributed to base effects

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Press Trust of India Mumbai
Last Updated : Dec 17 2018 | 7:00 PM IST

The Export-Import Bank of India (Exim Bank) on Monday said the country's export growth will surge to 7 per cent for the October-December quarter. 

The release of the estimates, done by the city-headquartered policy bank using in-house modelling method, comes days after official data showed merchandise exports growth slumping to 0.8 per cent for November on a base effect.

The Exim Bank estimate said merchandise exports will go up to $82.39 billion for the third quarter of the fiscal year, as against $77 billion.

Non-oil exports will grow 7.20 per cent to $71.45 billion during the same period, as against the $66.65 billion in the year-ago period.
 

In a statement, the bank said it has developed an in-house model to generate an export leading index (ELI) for India to track and forecast the movement in exports on a quarterly basis.

The ELI modelling will keep getting updated and the findings will be released by the bank on a regular basis, the statement added.

The model and forecast have been reviewed by a standing technical committee of domain experts, it said.
 

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The country's exports growth slid sharply to 0.8 per cent in November from October's 17.86 per cent growth in what was attributed to base effects. 

There was a double-digit contraction in exports of gems and jewellery and engineering goods in November, which impacted the overall growth. 

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First Published: Dec 17 2018 | 4:01 PM IST

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