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Exports go up 11 pc, imports 38 pc in June — Trade deficit higher in Q1

Our Bureau

New Delhi , Aug. 1

IN a significant development on the external front during the first quarter in the current fiscal, the country's foreign trade provides a mixed picture with exports, imports and trade deficit all registering higher growth.

According to provisional trade data released by the Commerce Ministry here based on the preliminary data compiled by the Directorate General of Commerce Intelligence & Statistics (DGCI &S), exports in June are estimated at $4,283.86 million which is 10.95 per cent higher than the level of $3,861.12 million during June last year. Imports are valued at $5,893.57 million ($4,250.70 million) representing an increase of 38.65 per cent. For the first quarter of the current fiscal (April-June), exports amounted to $13,147.45 million ($11,838 million) which is 11.06 per cent higher. Imports amounted to $17,328.81 million, representing an increase of 27.05 per cent over $13,638.89 million.

Oil imports are 17.94 per cent higher valued at $4,818.02 million ($4,085.10 million). Non-oil imports are estimated at $12,510.79 million ($9,553.79 million), representing a rise of 31 per cent.

The country's trade deficit during the quarter zoomed to $4,181.36 million ($1,800.89 million).

In rupee terms, exports during the first quarter of the current fiscal were 6.75 per cent higher at Rs 61,868.77 crore. On the other hand, imports amounted to Rs 81,532,37 crore (Rs 66,780.30 crore) reflecting a growth of 22.09 per cent. The lower growth in exports and higher growth in imports in rupee terms might be due to the continued hardening of the rupee's exchange value vis--vis the dollar in recent months.

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