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Exports and Imports down by 9.7% and 5.08% respectively in August 2012

Merchandise provincial data is not showing a good sign for the economy of India. There is a 9.75 down in exports and about 5.08% down on imports. There have been a lot of reasons for this downfall and one is the shaking economic problems that most countries are experiencing these days.

The exports today totaled to about $22.3 billion (Approx. Rs. 1.22 Lakh Crores) compared to its value last year that reached $24.7 billion (Approx. Rs. 1.35 Lakh Crores). According to Commerce Secretary S. R. Rao, there is still a slight glimmer of hope that we could expect on this falling trend. People should not be troubled about these numbers since good stats are expected to come forth in time.

Even though the trend is falling, the commerce secretary still have seen some good signs since the percentage of downfall is not that high. It means that the annual supplement for foreign trade was, perhaps paying out. Surely, a ray of hope would be emerging and this would be visible in a couple of months.

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