The Hindu Business Line : Export growth slows in October

THE country's exports have crossed the $40- billion mark during the first seven months (April-October) of current financial year, even as the export growth in October was pegged at 9.49 per cent, as against the annual target of 16 per cent.

Releasing the data here, the Commerce and Industry Minister, Mr Kamal Nath, said there was an across-the-board increase in exports to all major trade destinations. Exports during the first seven months witnessed a growth of 23.73 per cent at $40.291 billion. This is over and above 7.05 per cent export growth in April-October, 2003-04.

Imports during April-October was higher by 31.97 per cent to $54.732 billion as against $41.472 billion in the corresponding period previous year, even as it rose 19.66 per cent to $8.277 billion in October.

Oil imports were 55.98 per cent higher in April-October at $17.170 billion. Trade deficit for April-October is estimated at $14.441 billion, higher than the deficit of $8.908 billion in the same period previous fiscal.

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