Export growth has slipped in April to 8.71 per cent in dollar terms, from the average growth rate of over 18 per cent throughout 2002-03.
Data for April 2003 exports, released by the ministry of commerce, shows that exports have touched $4.34 billion, compared with $3.99 billion in April 2002.
Exports in April 2002 had grown 28 per cent in dollar terms. The commerce ministry has, however, claimed that the current 8.71 per cent rise is creditable as it has been achieved on such a high base. The ministry has estimated that exports will rise by an average of 12 per cent in 2003-04.
Imports have gone up by 39.44 per cent in April because of heavy oil imports, which have risen by 38.37 per cent.
In absolute terms, the total import bill is valued at $5.87 billion, against $4.21 billion in April 2002.
The oil import bill touched $1.72 billion in April 2003, compared with $1.25 billion in April 2002. Aggregate imports had fallen marginally in April 2002, which resulted in the narrowing of the trade deficit.
For April 2003, the trade deficit expanded to $1.52 billion, whereas it was only $0.21 billion in April 2002.
