Figure Watch

Export growth during the first half of the current fiscal fell by 3.28 per cent over the corresponding period last year. Compounded with rising imports, which was up by 10.06 per cent during April-September 1998, the trade deficit swelled to about 5 billion from 2.5 billion in the corresponding period last year.

One reason for the fall is that India has been losing its share of exports in the major markets. Japan which is one of the bigger markets accounting for over six per cent of the exports saw Indian exports fall by 27 per cent in April to June this year. Japan tops the list of markets where Indian saw a persistent decline. The decline in these markets is so high that it has nullified the little increase in the growing markets.