Exports growth beats imports

The growth rate in the country's merchandise exports has surpassed the increase in its imports in July and the first four months of the current financial year.

While exports increased by 35 per cent in July and by 21 per cent during the four month period, imports have increased by 24 per cent and 19 per cent, respectively.

Consequently, the trade deficit has only marginally increased in July to $ 3.96 billion as compared to the revised deficit figure at $ 3.83 billion in July. The cumulative trade deficit during April-July was also $ 16.71 billion against $ 14.37 billion in the same period last year.

As per the provisional export data released today, exports in July increased by around 35 per cent to $10.17 billion as against $7.54 billion in the same month last year.

The cumulative growth in exports in the first four months of the current fiscal was 21 per cent at $37.70 billion compared with $31.22 billion in April-July 2005-06.

India's imports in July touched $ 14.14 billion - an increase of 24 per cent - against $ 11.38 billion in July last year while the imports during April-July were $ 54.42 billion compared with $ 45.59 billion in April-July 2005-06.

Oil imports in July were valued at $ 4.64 billion which was 33 per cent higher than oil imports valued at $ 3.494 billion in the corresponding period last year.

Cumulative oil imports during April-July 2006 were valued at $ 18.53 billion which was 43 per cent higher than oil imports valued at $ 12.94 billion in the corresponding period last year.

Non-oil imports in July were estimated at $ 9.50 billion which was 20 per cent higher than the level of such imports valued at $ 7.88 billion in July last year.

Non-oil imports during April-July were estimated at $ 35.89 billion which was 10 per cent higher than the level of such imports valued at $ 32.65 billion in April-July last year.