Exports post 20.5 p.c. rise in April-Oct.

By Our Special Correspondent

NEW DELHI, DEC. 1. Exports continue to grow at a brisk pace with a growth of 20.5 per cent during April-October this year. With import growth lower at 14 per cent, the trade gap has shrunk to $5.2 billion from $5.7 billion last year over the same period.

Oil imports account for roughly 30 per cent of the total import bill for the April-October period, according to latest data released by the Union Commerce Ministry today. Out of the total imports of $30.2 billion, oil and products are estimated at $9.7 billion. The growth rate for oil is a staggering 84.51 per cent as these imports are estimated at $9.7 billion compared to only $5.2 billion last year.

Non-oil imports, in contrast, fell by 3.5 per cent from $21.2 billion to $20.5 billion.

As for exports, these reached $25 billion during April-October as against $20.7 billion last year over the same period. During October, a 16.8 per cent growth in exports has been recorded while imports have risen by 9.22 per cent during the month.

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Section  : Business
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