December exports up but global factor still gloomy: FIEO
India's merchandise exports have shown a sing of improvement, however global factors still the key for exports sector, said the apex exporters body Federation of Indian Export Organisations (FIEO) said in a press statement on Monday. December, 2015 trade data which has shown some signs of improvement has fared well to 22.29 billion dollars with a decline of 14.75 percent as against the sharp decline of 24.43 percent during the month of November, 2015. In the recent past particularly during the last couple of weeks there has been significant decline in global commodities and crude oil prices. Adding to that the prices of these commodities are further expected to go down because of less demand in the global market and expectation of more supply of crude with lifting of sanctions from Iran. The commodities and crude oil prices have more than 40 percent bearing on India's exports, this has further led to the continuous decline in exports. Global demand also does not seem to be picking up. With only countries like US showing little signs of improvement, this does not augur well for the country's export sector in the long-run.