India’s automobile exports to Sri Lanka jump four-fold in May

Friday, 26 June 2015 01:27 - - {{hitsCtrl.values.hits}}

(PTI) NEW DELHI: Sri Lanka, Italy and Spain provided traction to India’s automobile exports while Mexico, the UK, Algeria and Bangladesh witnessed a major slowdown in shipments in May, engineering exporters’ body EEPC said on Wednesday.

The Engineering Export Promotion Council(EEPC) said automobile exports to Sri Lanka jumped nearly four-fold to $56.54 million in May from $14.58 million in the same month last year.

The UAE also helped auto exports maintain momentum, it said, adding that shipments to this country grew 8.58% to $18.59 million in May.

Italy reported a 37.44% increase in exports at $14.82 million during the month under review while consignment to Spain went up 10.15% to $17.49 million, it added.

In contrast, Mexico, a major destination for India’s automobile exports, reported a decline of 35% to $47.78 million. Similarly, shipments to the UK slumped by over 32%.

Algeria, too, recorded a decline of 21.93%, EEPC added.

“In all, automobile exports dropped 2.70% to $512 million in May from $526 million a year ago,” it said.

Passenger car exports from India shrank 1.66% to 5,42,082 units in 2014-15 due to challenges in traditional overseas markets like Europe and Algeria.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.