Maersk: India registers 10% growth containerised trade in Q3 2018
India's containerised trade with the world grew by 10 percent year-on-year in the July-September qua…India's containerised trade with the world grew by 10 percent year-on-year in the July-September quarter, according to a report by global container shipping company Maersk, published on December 3.
The demand for India-made goods such as vehicles and mechanical appliances as well as refrigerated cargo such as onions, meat, seafood and pharmaceuticals have driven exports.
"Increasing competitiveness of Indian exports, coupled with improved demand in various destination countries, has propelled exports to grow at 10 percent year-on-year.... Simultaneously, imports have risen 9 percent year-on-year, largely dominated by a heavy inflow of paper, metal and white goods," the report said.
Overall, the containerised market has displayed strength, with far less fluctuation compared to the previous year.
Moneycontrol.com reports how the US, the United Arab Emirates and Nigeria have become significant export destinations for exporters from West India, adding that while exports from West India witnessed a contraction of 15 percent in the third quarter of 2017, exports increased by 10 percent year-on-year in the same quarter of 2018 on the back of high volume exports of India-made automobiles and machinery.