New Delhi, Sept 16 (KNN) The labour oriented sectors are in trouble as some of those pertaining to MSMEs like gems and jewellery, electronic goods, jute manufacturing including floor covering, tobacco, iron ore etc have shown drastic decline in their exports in August this year as compared to same period last year.

India’s overall exports growth slipped to 2.35 per cent at USD 26.95 billion in August, pushing up trade deficit to USD 10.83 billion. 

The import of products which have significantly increased are – gold, sulphur and unroasted iron pyrts, cotton raw and waste, artificial resins, plastic materials, etc.

Imports have dipped by 2.69 per cent to USD 190.94 billion during the first five months of this financial year. Trade deficit during the period (April-August) stood at USD 56.15 billion down from USD 70.6 billion during the same period last year. 

Gold imports have jumped significantly to USD 2.03 billion during the month under review from USD 738.7 million a year ago. 

According to the Ministry of Commerce and Industry's data, overall imports grew only 2.08 per cent to USD 37.79 billion. 

Exports in May and June had registered a growth of 12.4 per cent and 10.22 per cent, respectively. In July, exports growth further dipped to 7.33 per cent. 

In April-August period, exports grew 7.31 per cent to USD 134.79 billion. 

Gems and jewellery exports fell to USD 3.23 billion in August 2014 from USD 3.60 billion in August 2013, a change of (-) 10.31 per cent.

Jute manufacturing including floor covering exports fell to USD 0.031 billion this year as compared to 0.032 billion in the same period last year, a change of (-) 4.22 per cent. (KNN/SD)