Industry fears exports may continue to fall in April as major sectors lag

March Outbound merchandise trade had contracted first time in 5 months

Industry fears a continuing contraction in April exports, figures for which are set to be released later in the day.

March exports had contracted by 0.66 per cent, registering a decline for the first time in five months. Leading up to that, the growth rate had slipped continuously, coming down to 4.48 per cent in February, from a peak of 30.5 per cent in November.

The fall is attributed most to contraction in major sectors such as refinery products, gems & jewellery and textiles, but managed to cross the $300-billion target for the first time in two years