The country's cotton yarn exports for January-August 1999, stood at Rs 4,323.88 crore, the highest ever, compared to Rs 3,860.19 crore registered during the corresponding period in the previous year. In fact, shipment during the eight-month period this calendar is higher, in terms of rupees, than cotton yarn shipped during the corresponding period in 1997 (Rs 4,145.41 crore) when the Indian commodity made major inroads into the south-east Asian markets. However, in dollar terms the commodity's exports for the period under review stood at $1,009.31 million (at exchange rate $1 = Rs 42.84) against a higher shipment of $1,158.58 million (at exchange rate $1 = Rs 35.78) made during January-August 1997 period.

India had exported 473.08 million kg of cotton yarn valued at Rs 5,873.13 crore in 1998 and 514.47 million kg valued at Rs 6,064.23 crore in thecalendar year 1997.

Korea has emerged as the hottest destination for the Indian commodity, replacing favourites Bangladesh and Hong Kong. Cotton yarn exports towards Korea, it may be noted, was badly hit during the previous calendar following currency crisis in the south east Asian markets. Exports of cotton yarn to Korea during January-August 1999 stood at Rs 697.09 crore against Rs 134.29 crore achieved during the corresponding period in the previous calendar.

Exports to Bangladesh for the 1999 period under review was Rs 606.56 crore (Rs 501.69 crore) and that towards Hong Kong stood at Rs 535.48 crore (Rs 653.60 crore). Share of cotton yarn exports in the total textile export basket improved by around 2.07 per cent. Share of the European Union (EU) countries in total yarn exports is on the decline. The eight-month period shipments to EU countries in 1999, dropped to Rs 453.37 crore (Rs 612.97 crore).