Engineering exports in May up; shipments to China fall

Exports of engineering goods witnessed a year-on-year growth for the third straight month in May and crossed USD 8 billion-mark, while shipments to China continued to decline, EEPC India said on Tuesday.

Shipments to China fell sharply by 35 per cent in May with total exports value pegged at US$ 444.65 million as against USD 684.51 million in the same month last year.

''The US topped as India's export destination for engineering goods. Shipments to the country jumped 56 per cent to USD 1,022 million in May compared to USD 655.37 million in the corresponding month last year,'' the EEPC said.

Among the ASEAN countries under the top 25 engineering exports destinations, Indonesia, Thailand and Vietnam recorded high positive growth, while Singapore and Malaysia posted negative growth during April- May 2021.

All the European countries in the top market list such as Germany, Italy, France, UK, Spain, Poland and Belgium recorded high positive monthly as well as cumulative growth during this period.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)