Wednesday, May 18, 2005
Wednesday, May 18, 2005 |
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Special Correspondent
NEW DELHI: Exports have risen by 17.2 per cent in April but imports have shot up by 51.05 per cent, bringing the trade deficit to $3.8 billion. This is about three times higher than the trade gap of $1.2 billion in the same month last year. The steep increase in the deficit in the first month of the current year 2005-06 is not only due to the high cost of oil imports but also a surge in non-oil imports. While oil imports rose by 41.3 per cent during the month, non-oil imports increased even faster at 56 per cent. Oil imports are thus estimated at $3.2 billion as against $2.3 billion. Non-oil imports have reached $7.1 billion as compared to $4.5 billion. According to the latest trade data released here on Tuesday by the Union Commerce Ministry, exports rose to $6.56 billion in April ($5.60 billion). Imports also spurted to $10.42 billion from $6.90 billion.
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