Exports recorded moderate growth of 3.93 per cent in May: FIEO

Only 17 out of 30 major product groups were in positive territory during May 2019 including electronic goods, organic & inorganic chemicals, drugs & pharma, RMG of all textiles, plastics & Linoleum, ceramic products & glassware, handicrafts, commodities besides a few plantation and agri products have shown positive growth during the month.

Responding to moderate export growth of 3.93 per cent during May 2019, Ganesh Kumar Gupta, President, FIEO, said, “Such a growth in exports reflects extremely modest growth in global trade and increasing protectionism. MSME sectors are still facing the problem of liquidity besides various other challenges including uncertainties owing to tariff war, volatility in commodities/currencies, rapid rise in trade restrictive measures and constraints on the domestic front. Due to US-China trade war and developments in Iran has further aggravated the problem in the world economy. The uncertainty attached to it will also affect the flow of investment and add to currency volatility.”