The Hindu Business Line : Exports up 27% in November at $12.4 b

New Delhi, Jan 1 The persistent higher growth in exports in the face of appreciating rupee till October 2007 continued in November too with latest export figure for November logging a robust 27 per cent growth at $12.4 billion, as compared to $9.8 billion in November 2006.

Provisional trade figures provided by the Department of Commerce shows that cumulatively too, the country’s exports recorded a healthy 22.08 per cent growth during the first eight months of the current fiscal at $98.3 billion, as compared to $80.6 billion in the corresponding period of 2006-07.

Interestingly, in rupee terms too, when export growth was in single digit for some months, has recovered to register a growth of 11.51 per cent in November 2007, though cumulatively export growth in April to November 2007 remained at 8 per cent.

Imports

Imports, on the other hand, during November 2007 grew at 29.26 per cent at $19.8 billion, as compared to $15.3 billion in the corresponding month of 2006.

Cumulative value of imports for the period April to November 2007 at $151.2 billion showed a growth of close to 27 per cent as compared to $119 billion in the corresponding period of 2006.

Oil imports during November 2007 at $5.8 billion was 16.7 per cent higher than such imports valued at $4.9 billion in November 2006, while cumulatively oil imports during the first eight months of the current fiscal showed a growth 10.19 per cent at $43.3 billion against $39.3 billion in the comparable period of 2006. Non-oil imports during November 2007 at $14.1 billion was higher than the $10.3 billion in the corresponding month of 2006, while cumulatively non-oil imports at $107.8 billion was 35.24 per cent higher than the level of such imports estimated at $79.7 billion in April-November 2007.

Trade deficit

As a result of relatively high growth in exports and a still higher growth in imports, the country’s trade deficit has zoomed to $52.8 billion during April to November 2007, as compared to $38.49 billion in the corresponding eight months of 2006, an official release said here.

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