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Export surge continues

Special Correspondent

39 p.c. growth in crude oil imports

NEW DELHI: India's merchandise exports continued to surge with the cumulative value of shipments during the first nine months (April-December) of the current fiscal year zooming by 36.2 per cent to $89.49 billion (Rs. 4,08,394.10 crore) as compared to $65.67 billion (Rs. 2,90,411.21 crore) during the same period of 2005-06.

According to the provisional data available from the Directorate General of Commercial Intelligence & Statistics (DGCI&S), which was released by the Commerce Ministry here on Saturday, exports in December 2006 alone were valued at $9.9 billion (Rs. 44,197.83 crore) as compared to $8.28 billion (Rs. 37,807.74 crore) in the same month in the previous fiscal.

At this level, the growth rate in exports shows a slight dip at 19.57 per cent.

As for imports, the cumulative value of inward shipments during the first nine months was pegged at $131.21 billion (Rs. 5,98,286.68 crore), which was way higher than the imports worth $96.26 billion (Rs. 4,25,666.55 crores) recorded during the same nine months of 2005-06. Likewise, the value of imports shipped during December alone stood much higher at $15.58 billion (Rs. 69,546.47 crore) when compared to the imports worth $10.99 billion (Rs. 50,141.02 crore) in the same month of the previous fiscal.

As per the provisional data, the trade deficit for the nine months at $ 41.72 billion shows a substantial spurt over the deficit of $ 30.60 billion witnessed during the same period in the previous year. Crude oil imports in December were valued at $4,817.29 million as compared to the oil bill of $3,717.48 million notched up in the same month of 2005, thus showing a growth of 29.58 per cent.

Oil imports during the nine months were valued at $43.82 billion, or about 39.23 per cent higher than the oil import bill of $31.47 billion in the same period of 2005-06.

Non-oil imports were estimated at $10.76 billion in December, which was 31.81 per cent higher than the non-oil imports valued at $8.17 billion in December 2005.

For the nine-months, non-oil imports totalled $87.40 billion which was about 18.67 per cent higher than such imports valued at $73.65 billion in the same period in the previous year.

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