The Hindu : Business : Exports spurt 27 p.c.

Online edition of India's National Newspaper
Saturday, May 27, 2006

Business

Business

Exports spurt 27 p.c.

Special Correspondent

Oil imports higher at $ 4.1 billion

NEW DELHI: Exports have shot up by 27 per cent in the first month of the current financial year (April 2006), continuing the high growth path of the last fiscal. A 25 per cent growth in merchandise exports was achieved in 2005-06, bringing the total volumes to $101 billion.

Commenting on this trend, Commerce and Industry Minister expressed satisfaction that the growth rate witnessed in the last two years was not only being maintained but also accelerated.

According to the latest official data released here on Friday, exports are valued at $8.3 billion in April, 27.08 per cent higher than the level of $6.5 billion during the same month last year.

Imports during the month are estimated at $12.5 billion, an increase of 20.5 per cent over the level of $10.4 billion recorded in the same month in 2005. As a result, the trade deficit for the month has gone up from $3.8 billion to $4.2 billion.

Oil imports in April were 34.6 per cent higher at $4.1 billion compared to $3.08 billion in the same month last year. Non-oil imports were 14.56 per cent higher at $8.4 billion as against $7.33 billion.

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