India's exports, trade deficit both soar in Q1

Wednesday, 01 August 2007, 19:30 IST
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New Delhi: Fuelled by increased demand from the global markets, India's exports for the first quarter (April-June) of 2007-08 increased to $11.86 billion compared to $10.4 billion in the corresponding period last year, an increase of 14.05 percent. However, an increase of imports by 36.68 percent made the trade deficit increase to $20.6 billion in April-June 2007 from $11.84 billion in the same period last year. India's oil imports during the quarter also increased by 9.85 percent to $5.66 billion from last year's $5.15 billion. The country's non-oil imports were estimated at $13.53 billion, which was 52.25 percent higher than non-oil imports of $8.88 billion in the first quarter of 2006-07.
Source: IANS