Exports slow in Jan; trade deficit crosses $50bn

The country's export growth slowed down to 14.08% during January 2007 to $9.64 billion, while imports rose 35.74% to $15.43 billion over the corresponding month a year ago, according to provisional data released today by the commerce ministry.

Trade deficit so far this fiscal has increased to $50.58 billion as against $33.82 billion during April-January FY06. Exports in January 2006 stood at $8.45 billion, while imports were $11.36 billion, as per the provisional estimates of last fiscal.

However, according to the provisionally revised figures of FY06, the export growth is much lower at 5.5% in January 2007 compared to $9.14 billion in the same month a year ago.

Similarly, imports in January this year increased at 23.24% when compared to the provisionally revised imports figure of $12.52 billion in January 2006.