Date:04/11/2008 URL: http://www.thehindu.com/2008/11/04/stories/2008110456441600.htm

Business

Exports up 31% at $95 b in first half

Special Correspondent

Oil imports rise by 59% at $55 billion

NEW DELHI: Global economic slowdown notwithstanding, India’s exports in the first half of the current fiscal (April-September, 2008) registered a 30.9-per cent growth at $94.97 billion (Rs. 4-lakh crore) as against $72.55 billion (Rs.2.96-lakh crore). However, the worrying factor is the increase in the trade deficit that touched $59.77 billion in the same period up from $39 billion in April-September, 2007.

The cumulative value of imports for the first half under reference was $154.74 billion (Rs. 6.61-lakh crore) as against $111.65 billion (Rs. 4.56-lakh crore), registering a growth of 38.6 per cent in dollar terms and 44.9 per cent in rupee terms over the same period last year.

In September, exports were valued at $13.74 billion, which was 10.4 per cent higher than the level of $12.45 billion in September, 2007. On the other hand, imports during the month were valued at $24.38 billion, an increase of 43.3 per cent against $17 billion in the same month in the previous year.

Oil imports in September were valued at $9 billion, which were 57.1 per cent higher than oil imports valued at $5.79 billion in the corresponding period last year.

Oil imports during the half year were valued at $55 billion, 59.2 per cent higher than the oil imports of $34.59 billion in the corresponding period last year.