The Hindu Business Line : Exports in December up 42 pc

THE country's exports gained renewed momentum growing by 42.68 per cent in December 2003 at $5.49 billion over $3.85 billion during the corresponding month in the previous year.

However, with imports recording an equally robust growth of 44.95 per cent at $7.21 billion as compared to $4.97 billion in December 2002, the trade deficit too has widened.

As per the provisional trade figures released on Wednesday, the trade deficit has increased to $1.72 billion in December 2003 from $1.12 billion in December 2002.

With this, the aggregate export growth during the first nine months of the current fiscal is hovering around 13.48 per cent, with import growth during the same period, higher at 24.86 per cent. While in value terms the total exports have been placed at $42.43 billion as compared to $37.39 billion, imports have touched $55.06 billion in April-December 2003, as against $44.09 billion during the nine-month period in the previous year. Trade deficit too has widened to $12.62 billion from $6.70 billion.

Oil imports during the first nine months of the current fiscal are valued at $1.46 billion, which is 24.86 per cent higher than the level of imports valued at $1.27 billion during the corresponding period last fiscal. Non-oil imports during April-December 2003 are estimated at $4.04 billion and this is 29.17 per cent higher than the level of such imports valued at $3.13 billion in the corresponding months of the previous fiscal.

In rupee terms, the rising trend is more subdued, with exports in the nine month period valued at Rs 1,95,780.11 crore, a 7.73 per cent increase from Rs 1,81,738.54 crore in April-December 2002. Imports grew by 18.57 per cent to Rs 2,54,046.68 crore as compared to Rs 2,14,262.24 crore. The trade deficit has correspondingly increased to Rs 58,266.57 crore from Rs 32,523.70 crore.

During the month of December 2003, exports grew by 35.11 per cent to Rs 2,5024.04 crore from Rs 1,8520.63 crore, while imports grew by 37.27 per cent at Rs 32,855.16 crore from Rs 23,935.05 crore.

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