Export as Basis of Economic Development

fundExports have always played an important role in the economic development of most countries. This is evident even in Indian case from the continuous upward movement of percentage share of merchandise exports in the overall GDP of India from 13.9 percent in 2009-10 to 16.0 percent in 2010-11 and 17.7 percent in 2011-12. As per the WTO trade statisticsIndia’s share in the total global exports has been measured at 1.07% during 2007, 1.21% during 2008, 1.31% during 2009, 1.48% during 2010 and 1.67% during 2011.

The difference between imports and exports is the measure of Trade Balance, which   contributes to Current Account Balance stability of a country.   Macro Economic growth and stability of a country has a very close correlation with Current Account Balance of that country.  Hence, Government and policy makers keep a close watch on Trade Balance and Current Account Balance.

The table below gives the figures of Exports and Exports and Trade Balance for the last three years as also for April – October of the current year:

                                                                                       Rs. Crore

Year Exports Imports Trade balance Trade balance as % of GDP
2009-10 845534 1363736 -518202 8.5
2010-11 1142922 1683467 -540545 7.6
2011-12* 1459281 2344772 -885492 10.8


908340 1507203 -598862  

* Provisional.

Source: DGCI&S, Kolkata.


This information was given by the Minister of State for Commerce & Industry Dr. D. Purandeswari in written reply to a question in Lok Sabha today.