The Hindu Business Line : Exports up 27 pc in April

Continuing the salutary performance logged last fiscal, the country's exports during the inaugural month of the current fiscal registered a robust 27 per cent growth in dollar terms, with imports, too, showing a growth of close to 21 per cent.

According to the provisional foreign trade data based on figures compiled by the Directorate-General of Commercial Intelligence and Statistics, Kolkata, India's merchandise exports in the first month of the current financial year (April 2006) are valued at $8,346.79 million, which is 27.08 per cent higher than $6,567.99 million (provisional) during April 2005. However, a caveat is in order as the final reconciled figure of exports for April 2005 is pegged a tad higher at $7,627.20 million or Rs 3,3362.30 crore.

Accelerating growth

In rupee terms, the exports were Rs 37,518.06 crore, which is 30.59 per cent higher than the provisional value of exports during April 2005 The Union Commerce and Industry Minister, Mr Kamal Nath, said the growth rate witnessed in the last two years is not only being maintained but accelerated.

Imports during April 2006 are valued at $12,560.93 million (provisional) representing an increase of 20.52 per cent over the level of imports valued at $10,422.54 million (provisional) in April 2005. The final reconciled figure of imports for April 2005 is $10,764.70 million or Rs 47,086.10 crore.

Oil imports

Oil imports during April 2006 are valued at $4,159.15 million, which is 34.65 per cent higher than oil imports valued at $3,088.85 million in the corresponding period last fiscal. Non-oil imports during April 2006 are estimated at $8,401.78 million, which is 14.56 per cent higher than the level of such imports valued at $7,333.69 million in April 2005.

The trade deficit for April 2006 is estimated at $4,214.14 million, which is higher than the deficit of $3,854.55 million during April 2005, an official release issued here said.