Monday, June 6 2005 11:44 Hrs (IST) - World Time -

New Delhi: China has emerged as one of the top five destinations of exports from India, according to the latest available disaggregated merchandise trade data for 2004-05.

The top five destinations of Indian exports sorted on the basis of the growth rates in US Dollar terms in 2004-05 over 2003-04 are: Singapore (78.63 per cent), Peoples Republic of China (55.20 pc), United Arab Emirates (38.48 pc), USA (15.45 pc) and Hong Kong (11.94 pc), an official release said.

In terms of percentage share, USA tops with 16.74 per cent share of India's exports, followed by UAE (8.96 per cent), China (5.79 per cent), Singapore (4.79 per cent) and Hong Kong (4.61 per cent).

In terms of value, India's exports to USA in 2004-05 were $13.1 billion followed by the UAE ($7 billion), China ($4.5 billion), it said.

The top commodities of India's exports on the basis of growth rates in 2004-05 include petroleum: crude and products (90.34 per cent); gems and jewellery (29.62 per cent); machinery and instruments (25.82 per cent); and drugs, pharmaceuticals and fine chemicals (12.14 per cent).

Region-wise export data from DGCI&S indicate a record growth in India's exports to all major destinations during 2004-05, barring CIS and the Baltic States.

Exports to West Europe increased by 19.72 per cent in US Dollar terms during 2004-05 compared to 2003-04; East Europe by 46.47 per cent; Asia and Oceania by 26.85 per cent; Africa by 45.39 per cent; America by 20.50 per cent; and the Latin American countries by record 84.65 per cent.

India's total exports during 2004-05 recorded a growth of 24.13 per cent over 2003-04, the release said.