India exports at 15-month high on global recovery

NEW DELHI: India's exports increased to a 15-month high in December as recovery in the global economy boosted demand for the South Asian nation's products.

Overseas shipments surged to $14.6 billion after rising 18.2 percent from a year earlier in the previous month, the first increase in 14 months, Trade Minister Anand Sharma told reporters in Mumbai yesterday. Exports are rebounding after an average 17.4 percent decline in the past year.

A revival in exports may boost production at companies in India and bolster growth in Asia's third-biggest economy, which expanded 7.9 percent in the three months to Sept 30 from a year earlier, the quickest pace in six quarters. A separate report yesterday showed China's exports climbed 17.7 percent in December, the first gain in 14 months, as Asian economies recover from the worst worldwide recession since the 1930s.