India's exports surge 34 percent in June

Thursday, 22 July 2004, 07:00 Hrs
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NEW DELHI: Continuing their upward trend, India's exports were valued at $5.675 billion in June, a 34.32 percent rise over the same month of the previous year, official trade data said Wednesday.

As a result, exports for the first quarter of this fiscal were up 27.96 percent at $16.498 billion, compared with $12.893 billion during April-June, 2003.

At this level, exports are more than 10 percentage points higher that the 16 percent target for the current fiscal.

During the April-June period, imports also surged 30 percent on account of the high crude oil prices. Imports were valued at $22.434 billion during the first quarter of this fiscal, against $17.166 billion during April-June 2003.

Oil imports during April-June this year stood at $6.622 billion, which were 44.69 percent higher than $4.577 billion in the like period of last year.

Overall imports during June this year stood at $7.943 billion, representing an increase of 43.02 percent over the $5.554 billion in the corresponding month of 2003.

As a result of the expanded imports, the trade deficit also moved up higher by 38.9 percent at $5.936 billion during the first quarter of the current fiscal, as against $4.274 billion during April-June 2003.

Source: IANS
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