Sunday, January 24, 2021
No menu items!

‘India’s containerised trade shrank 8% in Q3’

Must Read

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

Bengal Speaker Rejects Suvendu Adhikari’s Resignation, Says It Flouts Rules of House

File photograph of former TMC chief Suvendu Adhikari"Unless and until I am satisfied that the resignation is voluntary...

COVID-19 | Russia signs more deals with India to make 300mn Sputnik V vaccines

“In India, we have agreements with four large manufacturers,” Dmitriev, the pinnacle of the Russian Direct Investment Fund...


India’s containerised trade contracted by about 8% in Q3 (July-September), built-in delivery firm Maersk stated in a report. Container shipments, nevertheless, rose 31% from the previous quarter indicating trade is on a path of restoration, it stated.

Exports rose 14%, buoyed by rising demand for Indian textiles and apparels particularly in the North American markets, and surged 47% quarter-on-quarter (Q-o-Q). Imports, nevertheless, contracted 28% from a yr earlier.

Demand shocks

“Owing to staggered supply and demand shocks across geographies, combined with challenging economic indicators in Q2 and Q3, Indian containerised trade has been severely impacted,” Maersk stated. “Whereas exports have recovered strongly, imports remain subdued,” it added.

“Changing patterns in retail behaviours are reshaping supply chain trends to an extraordinary extent, leading to a growing focus on risk mitigation and resilience-building, while dealing with threats of growing trade protectionism,” stated Steve Felder, Managing Director, Maersk South Asia.

Apart from textiles and aparels, different commodities that witnessed development in exports embrace tile, stone and glass to the North European area, and seeds, beans, cereal and flour to the Middle East and Mediterranean nations.

In imports into India, commodities resembling paper, metallic, home equipment and kitchenware confirmed elevated quantity because the final quarter, although they’re far beneath the degrees in the identical interval final yr.

Volumes of home equipment and kitchenware coming from China are nearly half of what they had been final yr in the identical quarter, however are exhibiting development of 25% over Q2 2020. Imports of paper from the U.S. present the same development, being 40% decrease than final yr’s third quarter, however with a development of over 25% from final quarter, this yr, it stated.

As trade continues to navigate foggy situations, most up-to-date traits point out an general restoration of import-export trade will start in the primary half of 2021, Maersk stated.

You have reached your restrict without spending a dime articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly model of articles from the day’s newspaper in one easy-to-read record.

Unlimited Access

Enjoy studying as many articles as you want with none limitations.

Personalised suggestions

A choose record of articles that match your pursuits and tastes.

Faster pages

Move easily between articles as our pages load immediately.


A one-stop-shop for seeing the most recent updates, and managing your preferences.


We temporary you on the most recent and most essential developments, thrice a day.

Support Quality Journalism.

*Our Digital Subscription plans don’t at present embrace the e-paper, crossword and print.


Source link

Latest News

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

More Articles Like This