Date:02/10/2008 URL: http://www.thehindu.com/2008/10/02/stories/2008100256742000.htm

Business

Exports up 27% at $16b

Special Correspondent

Import bill went up by 51% to $30b

NEW DELHI: Exports registered a 26.9-per cent increase in August, while the import bill went up by 51.2 per cent, leaving a trade deficit of $13.94 billion for the month.

According to official figures released here on Wednesday, exports grew to $16 billion in August from $12.61 billion in the same period last year, while imports rose to $29.94 billion from $19.8 billion.

However, the worrying factor for trade officials is the growing trade deficit that widened to $13.94 billion in August from $7.19 billion a year-ago. This is mainly due to India’s crude oil import bill that shot up by 76.7 per cent to $10.96 billion from $6.2 billion in August 2007.

For April-August 2008 , exports showed a growth of 35.1 per cent at $81.22 billion. Imports rose by 37.7 per cent to $130.36 billion in the first five months of the fiscal. Consequently, the deficit during this period stood at $49.13 billion.