The Hindu Business Line : Exports rise 20 pc in April

THE country's exports clocked up a relatively robust growth of close to 20 per cent in dollar terms during the inaugural month of the current financial year, spurred on by good performance across all product categories of consequence.

Provisional trade figures compiled by the Directorate General of Commercial Intelligence & Statistics (DGCI&S), Kolkata, and released by the Commerce Department here on Tuesday said the country's exports during the current fiscal year have set off on "a positive note" with exports during April 2004 being valued at $5,010.20 million, which is 19.95 per cent higher than the level of $4,176.92 million during April 2003. This is over and above the 3.51 per cent export growth in April 2003 over April 2002.

In rupee terms, the exports were Rs 22,010.37 crore which is 11.23 per cent higher than the value of exports during April 2003. Commerce Ministry officials told Business Line here that besides the good performance by products such as gems and jewellery, chemicals and related products and engineering products, the textiles exports in general and readymade garments in particular had reversed the negative trend of last year by notching up a positive growth during April 2004.

Imports during April 2004 are valued at $6,747.49 million representing an increase of 20.78 per cent over the level of imports valued at $5,586.52 million in April 2003. In rupee terms, the imports increased by12 per cent.

Oil imports during April 2004 are valued at $2,201.40 million, which is 51.37 per cent higher than oil imports valued at $1,454.33 million in the corresponding period last year. This massive spurt in oil import cost owed more to the rise in crude oil prices globally than due to any abrupt increase in domestic consumption, officials said.

Non-oil imports during April 2004 are estimated at $4,546.09 million, which is 10.02 per cent higher than the level of such imports valued at $4,132.19 million in April 2003.

The trade deficit of the country during April 2004 is estimated at $1,737.29 million, which is higher than the deficit of $1,409.60 million during April 2003, an official release said.

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Exports rise 20 pc in April