India's exports up 32 percent in 10 months

Wednesday, 28 February 2007, 06:00 Hrs
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New Delhi: India's merchandise exports rose 14.08 percent in January to result in a 32-percent growth in the first 10 months of 2006-07, valued at $99.13 billion, official data showed on Thursday.

The exports were valued at $74.98 billion in the like period of last fiscal. Statistics released by the Directorate General of Commercial Intelligence and Statistics of the commerce ministry said merchandise exports in January this year topped $9.65 billion against $8.46 billion in the like month of 2006.

The cumulative value of imports during the first 10 months was $149.73 billion, which was higher by 37.61 percent over $108.80 billion in the corresponding period of the previous fiscal.

In January, imports amounted to $15.43 billion, against $11.37 billion in the like month of last year, to register a growth of 35.74 percent. As a result, the trade deficit for the first 10 months jumped to $505.89 billion over $338.25 billion during the like period of last fiscal, April-January 2006.

The main reason for the high growth in trade deficit has been the 36.40 percent increase in crude imports, which were valued at $48.61 billion in the first 10 months of this fiscal against $35.64 billion in the in like period last year.

Non-oil imports, on the other hand, rose 23.31 percent and were valued at $10.11 billion in the first 10 months compared with $82.01 billion in the corresponding period of last fiscal.
Source: IANS
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