Exports to African and Latin American countries have jumped in the first five months of the fiscal compensating to an extent diminished opportunities in the US and Europe because of a global slowdown.
Exports to Africa between April and August jumped 41.6 per cent to $22.17 billion in a year. Exports to Latin America surged 38 per cent to $8.24 billion during this period, according to the commerce ministry.
Analysts said the shipments to these two continents could increase in the coming years as the country is filling up a gap left by Covid-hit China though this gap right now is very small compared with Chinese trade with these two continents.
