News: Indian exports grow 20.5% in August

(BS 22/09/2006) New Delhi - India's merchandise exports of $10.38 billion in August represent growth of 20.5 per cent over the $8.61 billion clocked in the corresponding period last year.

According to provisional data released by the commerce and industry ministry, imports during the month increased by 11.67 per cent to $13.86 billion, as against $ 12.42 billion last year.

The higher growth in exports caused the trade deficit to improve marginally to $3.48 billion from $3.80 billion in August last year.

Cumulative exports during April-August increased by 21 per cent to $48.08 billion, as against $39.83 billion in the same period last year. Imports increased by around 18 per cent to$68.29 billion, against $58.01 billion last year. The trade deficit increased to $20.20 billion from $18.18 billion in 2005-06.

Oil imports in August were valued at $5.03 billion, 27 per cent higher than the $3.95 billion last year.

Oil imports during April-August were valued at $23.57 billion, 39 per cent higher than the $16.9 billion in the corresponding period last year.