Trade deficit widens in April-May

By Our Special Correspondent

NEW DELHI, JULY 1. Continuing the upward trend, exports during April-May this year recorded an increase of 29.57 per cent over the same period last year. In actual terms, exports during April and May stood at $6.87 billion, up from $5.30 billion registered in the same months of 1999.

In rupee terms these were Rs. 30,092.47 crores which was 32.79 per cent higher than the corresponding period in the previous year.

Imports, on the other hand, increased by 36.66 per cent during the first two months of the current fiscal year, going up to $9 billion from $6.59 billion during April and May 1999. In this, oil imports during April and May this year were valued at $2.62 billion which was 109.84 per cent higher than the imports valued at $1.25 billion in the same months of last year. Non-oil imports were estimated to be worth $6.327 billion, which was 19.49 per cent higher than the level of such imports valued at $5.33 billion in April-May 1999.

Consequently, the trade deficit during April-May this year was placed at $2.14 billion, higher than the deficit of $1.30 billion registered in the same period last year.

The performance in May 2000 alone reveals that exports in that month were worth $3.44 billion, about 30.23 per cent more than the exports of $2.64 billion in May last year. In May this year the year-on-year growth in rupee terms was 33.92 per cent at Rs. 15,156.55 crores.

Imports were placed at $4.47 billion, representing an increase of 31.45 per cent over the level of imports valued at $3.42 billion in May 1999. In rupee terms these increased by 35.17 per cent signalling spurt in industrial activity.

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Section  : Business
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