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India Economy: 
India's Exports Jump 31.5% in April
Author: 123jump.com Staff
123jump.com
Last Update: 9:46 AM EDT June 02 2008


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Exports from India soared 31.5% to $14.4 billion and imports in the month surged 36.6% to $24.3 billion. Rising crude oil prices continue to drive the oil import bill higher. India imported $8.02 billion, a rise of 46% from a year ago as crude oil prices surge nearly 70% in the period. Rupee against dollar has fallen 7.5% in the last three months helping the exports. For the fiscal 2009 trade deficit is expected to rise to 9%.

 
The following is an unedited transcript of the news release from the Department of Commerce.


EXPORTS (including re-exports)

Exports during April, 2008 were valued at US $ 14400 million (Rs. 57633 crore) which was 31.5 per cent higher in dollar terms (24.8 per cent in Rupee terms) than the level of US $ 10953 million (Rs. 46164 crore) during April, 2007.

IMPORTS

Imports during April, 2008 were valued at US $ 24274 million (Rs. 97151 crore) representing an increase of 36.6 per cent in dollar terms (29.7 per cent in Rupee terms) over the level of imports valued at US $ 17769 million (Rs. 74895 crore) in April, 2007.

CRUDE OIL AND NON-OIL IMPORTS:



Oil imports during April, 2008 were valued at US $ 8029 million which was 46.2 per cent higher than oil imports valued at US $ 5493 million in the corresponding period last year.

Non-oil imports during April, 2008 were estimated at US $ 16245 million which was 32.3 per cent higher than non-oil imports of US$ 12276 million in April, 2007.

TRADE BALANCE

The trade deficit for April, 2008 was estimated at US $ 9874 million which was higher than the deficit at US $ 6817million during April, 2007.


Available at:

http://commerce.nic.in/tradestats/indiatrade_press.asp
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