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India's exports rise 24 percent
Tuesday, 14 December 2004, 20:30 IST
NEW DELHI: India's exports grew by a robust 24 percent April-November to $46.39 billion over the same period last year, even as imports rose steeply by 34 percent, mainly due to higher oil prices.
India's exports were $37.41 billion during April-November 2003, the commerce ministry said Monday.
In rupee terms, exports during April-November were valued at 
2.11 trillion, 22.14 percent higher than the value during the same period last year.
In November, India's exports were 25.91 percent higher at $6.09 billion than $4.84 billion during the same month last year.
In rupee terms, exports during November rose to 275.14 billion, which is 24.81 percent higher than the value of exports the same month last year, the trade data showed.
Imports during April-November jumped a whopping 34.47 percent to $64.27 billion compared to $47.79 billion in the corresponding eight-month period last year.
The commerce ministry attributed this increase in large part to the rise in global oil prices.
"Oil imports during April-November were valued at $19.94 billion, which is 55.79 percent higher than imports valued at $12.80 billion in the corresponding period last year," the ministry stated.
In the case of non-oil imports there was a lower 26.67 percent growth to reach $44.32 billion compared to $34.99 billion in the same period last year.
"Thus, it will be seen that value of India's total imports during April-November was a little over $64 billion and of this, petroleum and petroleum products alone accounted for $20 billion," it stated.
In a review meeting Saturday, Commerce Minister Kamal Nath had pointed out, "It is clear that if not for the high cost of petroleum, we would not have had a negative balance of trade. Fortunately, this negative balance of trade in goods is more than compensated for by our services exports."
The trade deficit for April-November is estimated at $17.87 billion, which is higher than the deficit at $10.38 billion during the corresponding eight months last year.
Trade data show that in November the country's imports were valued at $9.04 billion representing an increase of 43.12 percent over the level of imports valued at $6.32 billion in the corresponding month last year
In rupee terms, the imports rose sharply by 41.87 percent.
Source: IANS
2.11 trillion, 22.14 percent higher than the value during the same period last year.
In November, India's exports were 25.91 percent higher at $6.09 billion than $4.84 billion during the same month last year.
In rupee terms, exports during November rose to 275.14 billion, which is 24.81 percent higher than the value of exports the same month last year, the trade data showed.
Imports during April-November jumped a whopping 34.47 percent to $64.27 billion compared to $47.79 billion in the corresponding eight-month period last year.
The commerce ministry attributed this increase in large part to the rise in global oil prices.
"Oil imports during April-November were valued at $19.94 billion, which is 55.79 percent higher than imports valued at $12.80 billion in the corresponding period last year," the ministry stated.
In the case of non-oil imports there was a lower 26.67 percent growth to reach $44.32 billion compared to $34.99 billion in the same period last year.
"Thus, it will be seen that value of India's total imports during April-November was a little over $64 billion and of this, petroleum and petroleum products alone accounted for $20 billion," it stated.
In a review meeting Saturday, Commerce Minister Kamal Nath had pointed out, "It is clear that if not for the high cost of petroleum, we would not have had a negative balance of trade. Fortunately, this negative balance of trade in goods is more than compensated for by our services exports."
The trade deficit for April-November is estimated at $17.87 billion, which is higher than the deficit at $10.38 billion during the corresponding eight months last year.
Trade data show that in November the country's imports were valued at $9.04 billion representing an increase of 43.12 percent over the level of imports valued at $6.32 billion in the corresponding month last year
In rupee terms, the imports rose sharply by 41.87 percent.
Source: IANS