'India 11th largest services exporter'

NEW DELHI: India has jumped five places to become the world's 11th biggest exporter of commercial services in 2005, and inched one step ahead to the 29th rank among the largest merchandise exporters, according to the latest statistics by World Trade Organisation.

The country has also emerged as the world's 13th largest importer of commercial services - up two positions from last year, and 17th largest importer of goods from 23rd a year ago, as per WTO's International Trade Statistics for 2005.

Fuelled by booming software and ITeS exports, the country's total exports of services grew by 41.6 per cent to 56.1 billion dollars as against 39.6 billion dollars. This has helped the country maintain a modest surplus in services trade as imports stand at a lower 52.2 billion dollars.

But on the back of rising global crude oil prices, India's total merchandise imports have swelled to 134.8 billion dollars from 97.3 billion dollars in 2004. Exports, meanwhile, have jumped 25.8 per cent in 2005 to 95.1 billion dollars compared to 75.6 billion dollars in the previous year.

Overall, the country's total imports - both goods and services - were much higher at 197 billion dollars in 2005 compared to 151.2 billion dollars of total exports that year.

Although exports are witnessing a double-digit growth, India's share in world trade still remains negligible.

The country's share in goods exports is just 0.9 per cent and in goods imports a mere 1.3 per cent. In services, the country has 2.3 per cent share in exports and 2.2 per cent in imports during 2005.