The Hindu : Exports perk up in April-June

Online edition of India's National Newspaper
Friday, Aug 02, 2002

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Exports perk up in April-June

By Our Special Correspondent

NEW DELHI AUG. 1. Exports are looking up with the first quarter of the current fiscal recording a healthy 11.29 per cent growth while the month of June has recorded a rise of nearly 13 per cent. This is a sharp increase over the 4 per cent growth in the previous month.

According to trade data released today, the higher growth in exports has led to a shrinking of the trade deficit as compared to last year.

Since imports have risen by only 3.17 per cent during April-June, the trade gap is now estimated at $1.6 billion against $2.4 billion in the same period last year. This is despite a surge in the value of oil imports owing to the increase in international prices. These have risen by 11.4 per cent while overall imports have registered a decline of 0.44 per cent.

The trade data show that exports in the first quarter of the current fiscal have reached $11.52 billion against $10.35 billion in April-June 2001-02. During June, exports are estimated at $4.07 billion, which is 12.84 per cent higher than the $3.61 billion recorded in the same month last year. Imports during the month also rose by 10.56 per cent to reach $4.44 billion against $4.01 billion in June last year.

Imports during April-June are valued at $13.19 billion, an increase of 3.71 per cent over imports of $12.78 billion in the corresponding period last year. Oil imports in the first quarter are estimated at $4.34 billion, which is 11.40 per cent higher than the imports of $3.89 billion in the corresponding period of the previous year.

Non-oil imports during the period have actually declined and are estimated at $8.84 billion against $8.88 billion in the same period last year.

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