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Friday, Aug 02, 2002

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Q1 export growth at 11.3%

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IN line with the export target of 12 per cent fixed for the current fiscal, the country's first quarter export (April - June) notched up a growth of 11.29 per cent at $11,525.45 million, against $10,356.40 million in the comparable months of 2001-02.

Provisional figures put out by the Directorate-General of Commercial Intelligence & Statistics (DGCI&S) show that while export growth was on expected lines, imports revealed an insipid performance, growing by a paltry 3.17 per cent at $13,190.82 million, against $12,785.54 million in April-June 2001. As a result, the country's trade deficit during the quarter April-June 2002 was lower at $1,665.37 million, against $2,429.14 million during April-June 2001-02. Exports in June 2002 did exceptionally well, registering a growth of almost 13 per cent at $4,075.77 million, against $3,612.15 million in the corresponding month of 2001.

On the import front, oil imports during the quarter under review are valued at $4,341.19 million, which is 11.40 per cent higher than oil imports valued at $3,897.10 million in the corresponding quarter of last year in view of the sudden rise in crude oil prices in recent months. Non-oil imports during April-June 2002 are estimated at $8,849.63 million, 0.44 per cent lower than the level of such imports valued at $8,888.44 million in April-June 2001-02. Imports during June 2002 are valued at $4,441.49 million, registering an increase of 10.56 per cent over the level of imports valued at $4,017.31 million in June 2001.

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