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Tuesday, Apr 02, 2002

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Exports falter, 11-month growth rate at 0.06 pc

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NEW DELHI, April 1

CONFIRMING the fears that the country's exports would not reach even the downsized target of three per cent in dollar terms in the 2001-02 fiscal, the overall exports during the first 11 months of April 2001 to February 2002 notched up a measly 0.06 per cent growth at $39,749.8 million, against $39,726.25 million in the corresponding months of the previous fiscal.

As apprehended by the Union Commerce and Industry Minister, Mr Murasoli Maran, in a post-Exim policy interview to Business Line on Sunday, the export figure for February 2002 was up by only 0.07 per cent at $3,722.77 million ($3,694.63 million). This is in sharp contrast to January 2002 export performance when export grew by 18 per cent, which subsequently stood "corrected" at 15 per cent.

The country's imports during April-February 2001-02 are estimated at $46,515.69 million, representing a growth of 2.23 per cent over the level of imports valued at $45,500.50 million in April-February 2000-01. Imports during February 2002, however, registered a hefty 15.31 per cent growth at $3,809.22 million, against $3,303.48 million in February 2001.

Trade deficit during the first 11 months of 2001-02 fiscal stood at $6,765.89 million ($5,774.25 million).

A measure of comfort on the import front is that the country's oil import bill was lower by 11.87 per cent at $12,872.81 million ($14,606.15 million) during the period under review. Non-oil imports during the period are estimated at $33,642.88 million ($30,894.35 million), an 8.9 per cent rise.

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Exports falter, 11-month growth rate at 0.06 pc

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